金融投入、创新环境与高新技术企业发展  

The Financial Investment,Innovation Environment and the Development of High-Technology Enterprises

作　　者：赵紫剑 王昱崴 生蕾[3] Zhao Zijian

机构地区：[1]河南财经政法大学金融学院,河南郑州450046 [2]中国人民大学财政金融学院,北京100872 [3]北京青年政治学院,北京100102

出　　处：《金融理论与实践》2021年第9期32-41,共10页Financial Theory and Practice

基　　金：2020年河南省软科学重点项目“面向2035和‘十四五’河南省科技金融发展战略研究”(202400410031);北京市教委重点科研项目(SZ201711626030)的阶段性成果。

摘　　要：以中国31个省(自治区、直辖市)为研究对象,重点对金融投入以及创新环境因素对高新技术企业发展的影响进行了实证研究。结果表明:金融投入对高新技术企业发展存在显著的正向推动作用,但省际金融投入的平均TFP呈现出DEA无效状态,金融投入资源浪费3.7%,技术效率较低是造成金融资源浪费的主要原因;环境因素对金融投入效果的影响路径存在显著差异性;从金融投入效率的省际空间作用来看,金融投入产出效率的空间依赖特性并不明显,地缘影响较弱,不利于金融资源在高新技术企业发展中的优化配置。最后,提出了有效促进金融投入服务于高新技术企业效率的相关政策建议。Taking 31 provinces(autonomous regions and municipalities)in China as the research object,this paper focuses on the empirical research on the influence of financial investment and innovation environment factors on the development of high-tech enterprises.The results show that:financial investment has a significant positive role in promoting the development of high-tech enterprises,but the average TFP of provincial financial investment in innovation China presents DEA invalid state,the waste of financial investment resources is 3.7%,and the low technical efficiency is the main reason for the waste of financial resources;There are significant differences in the influence path of environmental factors on the effect of financial investment;From the perspective of provincial spatial effect of financial input efficiency,the spatial dependence of financial input-output efficiency is not obvious,and the geographical influence is weak,which is not conducive to the optimal allocation of financial resources in the development of high-tech enterprises.Finally,this paper puts forward relevant policy suggestions to effectively promote financial investment to serve the efficiency of high-tech enterprises.

关 键 词：金融投入 创新环境 高新技术企业 三阶段DEA 空间溢出效应 

分 类 号：F832.46[经济管理—金融学]