金融结构、创新模式与技术创新效率

技术创新的研发和转化离不开金融支持。本文从创新价值链和创新模式出发,构建金融结构、技术创新模式与技术创新效率的理论分析框架,基于三阶段DEA-Tobit模型和广义分位数回归模型,实证分析金融结构对技术创新模式转变、技术创新效率影响。研究发现,我国技术创新研发和转化两个阶段的规模效率较低,导致研发综合效率和转化综合效率存在“双低”现象。从金融结构来看,存在着最佳的金融结构与不同类型技术创新相匹配,使技术创新效率达到最大。从影响机制来看,银行和金融市场存在互补关系,分别匹配不同类型的技术创新。从金融结构分工来看,相对于银行来说,金融市场对技术创新效率以及技术创新模式转变的重要性呈现上升趋势。

Financial Structure,Technology Innovation Model and Technology Innovation Efficiency

From the perspective of innovation value chain and technology innovation model,this paper constructs a theoretical framework of financial structure,technology innovation model and technology innovation efficiency.Based on three-stage DEA-Tobit model and generalized quantile regression model,this paper empirically analyzes the effects of financial structure on the transformation of technology innovation model and technology innovation efficiency.The results show that the scale efficiency of research and transformation of technological innovation in China is low,which leads to low research efficiency and low transformation efficiency.Banks and financial market match different types of technological innovations respectively,and the complementary relationship between banks and financial market is verified.Compared with banks,the importance of financial market for the efficiency of technological innovation and the transformation of technological innovation mode shows an increasing trend.