Research On The Synergistic Development Of Operation Efficiency And Operation Environment Of Government Guide Fund

As China enters a new normal in economic development and the economic downward pressure increases,it is urgent to find new sustainable economic growth points.In this context,government guidance fund,as an important starting point for the government to promote the development of innovation economy,urgently needs to improve the low efficiency in the operation link and promote the coordinated development between it and the operation environment.Based on the above understanding,this paper carries out research according to the idea of "operation efficiency evaluation-operation environment extraction-Cooperation analysis of operating efficiency and operating environment".First,taking 62 provincial government guidance funds established between 2008 and 2020 as research samples,the SBM-DEA model is established to estimate the efficiency of the whole chain and sub-stages.Secondly,the LDA model is used to extract the theme features of the operating environment from the8149 pieces of text data collected,and the operating environment evaluation index system is established from an objective perspective and the operating environment from 2008 to 2020 is calculated.Finally,the quadrant analysis chart of the coordination degree between the operation efficiency and the operation environment of government guidance funds is established to preliminarily explore the collaborative development relationship between the two,and the coupling coordination degree between the operation efficiency and the operation environment in each stage of 62 funds is measured and its driving force is explored.The research shows that:(1)nearly 90% of government guide funds have the problem of low operational efficiency,which is mainly manifested in the management and investment stage and the exit stage.(2)The operating environment of government guide funds can be divided into innovation environment factor,financial environment factor,industrial environment factor,urban environment factor and financial environment factor;the integrated operating environment in the Eastern Region is significantly superior to that in the central and western regions,while there is no significant difference between the integrated operating environments between the middle and western regions.(3)The operation efficiency of the whole chain and the operation environment of the government guidance funds are only in the stage of "barely coordination," and the overall collaborative development is poor.(4)Enterprises’ willingness to innovate and residents’ consumption upgrading can drive the coupling and coordinated development between the operation efficiency and operation environment of government-guided funds.Based on the above analysis,this paper puts forward the following policy recommendations: in terms of improving the operation efficiency of government-guided funds,we should focus on management efficiency and exit efficiency,improve the management level of government-guided funds and broaden the exit channels;in terms of improving the operating environment of government guidance funds,we should focus on optimizing the innovation environment,increasing the innovation input of universities and enterprises,and improving the efficiency of transforming scientific and technological achievements;in promoting the coordinated development of the operation efficiency of government-guided funds and the operation environment,attention should be paid to enterprises with strong willingness to innovate and to promote the upgrading of residents’ consumption.