科技产业上市公司金融支持效率及其影响因素研究  

Research on Efficiency and its Influencing Factors of Financial Support for Listed Companies in Technology Industry

作　　者：熊广勤[1] 郑旸[1] 

机构地区：[1]中南财经政法大学金融学院,湖北武汉430073

出　　处：《科技管理研究》2014年第14期106-112,共7页Science and Technology Management Research

基　　金：中央高校基本科研业务费项目"地区产业集群发展的金融支持研究"(2012020);国家社会科学基金项目"我国文化产权交易的定价机制研究"(12CJY085)

摘　　要：科技产业是我国产能结构调整的重点,而金融支持在其中具有重要作用。采用DEA-Malmquist方法测度我国科技产业金融支持效率,以此为基础构建面板数据回归模型分析其影响因素。实证研究表明,科技产业金融支持效率存在较大波动,技术产出对产业支撑作用明显,而技术投入对产业的驱动则不稳定;在间接融资受阻情况下,通过直接融资促进股本流通对提升金融支持效率具有积极效果。最后提出相应的对策建议。The technology industry has an important role in China＇s economic sustainable development and production structure adjustment currently. This paper measures the efficiency of the technology industry financial support through the approach of DEA- Malmquist,and uses panel data regression model to build the basis of the analysis of its influencing factors. Empirical study shows that there is a greater volatility in the efficiency of the technology industry of financial support,such as significant technical output and unstable technical input in the effect of driving industry. In the case of insufficient driving force of indirect financing,direct equity financing can promote the development of the technology industry and enhance the flow of financial support. Finally,this paper puts forward the corresponding countermeasures.

关 键 词：科技产业 金融支持效率 DEA 面板回归 

分 类 号：F832[经济管理—金融学]