Research On Financial Support For Technological Innovation Of The Whole Industry Chain Of New Energy Vehicles And Its Efficiency Evaluation

The new energy vehicle industry,as a key grip for the transportation sector to achieve the goal of "carbon peaking and carbon neutrality",has ushered in a major development opportunity.In recent years,its industrial system has become increasingly mature and the competitiveness of enterprises has been enhanced.Nevertheless,there is still a wide gap between China’s new energy vehicle industry and advanced countries in terms of core technology level and the number of relevant patent achievements.In addition,along with the complexity of the technical structure,the capital investment required for innovation activities is growing with each passing day.Meanwhile,although finance has the capability to support technological innovation,it does not mean that it can spontaneously flow to the R&D,transform and production process of technological innovation to promote the overall technological level.To this end,this paper specifies the path and degree of impact of financial support on technological innovation in the new energy vehicle industry,and then measures the efficiency of financial support for technological innovation in order to comprehensively evaluate the effect of financial support.This paper quantitatively analyzes the extent to which financial support affects technological innovation by constructing fixed-effect models.The empirical results show that both market-based or policy-based financial support can significantly promote technological innovation in the new energy vehicle industry.The mediator effect model is further constructed to verify the mediator effect of R&D investment in the path of financial support for technological innovation.On this basis,this paper applies the DEA method to evaluate the efficiency of financial support for technological innovation from two perspectives,static and dynamic.The static analysis finds that the highest 29.6% of the sample enterprises are at the production frontier in the past five years;most of the enterprises with input redundancy are mainly concentrated in the middle and downstream of the industrial chain,while the output insufficient mainly occurs in the innovation R&D stage of the middle and upstream enterprises.In addition,GRA was applied to specifically analyze the variability of the impact of input factors on the overall efficiency.The dynamic results show that the total factor productivity of the industry decreases year by year due to the influence of external factors;and further differentiate each industry chain link for specific analysis,the efficiency change trend is significantly different due to the business characteristics of the industry chain link they are in.Accordingly,this paper proposes specific policy recommendations for market players,government,and individual enterprises in terms of external guidance of financial support flowing into the industry and internal autonomy to improve the efficiency of resource utilization.Such as the establishment of a credit public evaluation system,the establishment of a special government fund for R&D innovation,and the transformation of the digital sales and service model.In order to provide or guide a more effective inflow of financial support for technological innovation in the new energy vehicle industry,and thus improve the efficiency of financial support for technological innovation activities.