科技金融对高技术产业科技创新的影响研究

基于27省市2010-2016年高技术产业数据,运用DEA模型和面板模型分析科技金融投入对科技创新效率的影响。结果表明：我国高技术产业科技创新效率整体呈东、中、西递减。在技术的开发阶段,企业、政府、社会资本对科技创新影响较为显著。在技术的市场化阶段,企业资金显著促进科技创新,而人力资本起到了阻碍作用。在技术的国际化阶段,资本市场投入和政府投入对科技创新产生抑制作用。

Research on the Impact of Science-finance on Sci-tech Innovation of High-tech Industry

Based on the high-tech industry data of 27 provinces from 2010-2016, we applied DEA model and panel data model to analysis the impact of sci-tech finance investment on the efficiency of sci-tech innovation. The results show that: the efficiency of sci-tech innovation in high-tech industry is decreasing in the eastern, central and western. In the development stage of technology, enterprises funds, governments funds, and social capital have a significant impact on sci-tech innovation. In the marketization stage of technology, corporate funds have significantly promoted sci-tech innovation, and human capital has played a blocking role. In the internationalization stage of technology, capital market investment and government investment have a depressing effect on sci-tech innovation.