金融支持技术创新的机理与路径研究--基于金融结构对创新产出的分析  

Research on the Mechanism and Path of Financial Support for Technological Innovation--Analysis of innovation output based on financial structure

作　　者：李琳[1] LI Lin

机构地区：[1]北京工业大学

出　　处：《价格理论与实践》2023年第2期121-124,202,共5页Price:Theory & Practice

基　　金：北京市教委项目:突发公共卫生事件下中小微企业的破产退出与挽救机制研究,项目编号:JE014016202101。

摘　　要：厘清金融结构对技术创新的影响对经济高质量发展具有重要意义。本文基于我国省际面板数据研究了金融结构对不同类型技术创新的影响,研究结果表明:一是以间接融资为主的金融结构总体上促进了技术创新,但主要推动了实用新型专利和外观设计专利等技术创新;二是金融结构对创新的影响具有非线性特征,即存在最优的金融结构与技术创新相匹配;三是金融结构对创新的影响存在门槛效应,当经济发展水平超过门槛值时,提高直接融资比重有利于原创性技术创新。基于此,应关注间接融资在促进金融创新中的作用,金融中介和金融市场应各尽其职,根据比较优势促进技术创新;提高直接融资比重,进而促进原创性创新产出;银行业要根据创新企业特点,研究定制金融服务,加大资金支持,促进创新发展。It is of great significance to clarify the impact of_financial structureon technological innovation for high-quality economic development.This study examines the impact of financial structure on various forms,of technological innovation using inter-provincial panel data from China.The research results show that:Firstly,a financial structure characterized by indirect financing generally fosters technological innovation,particularly in the domain of utility model patents and design patents:Secondly,the relationship between financial structure and innovation demonstrates non-linear characteristics,indicating the existence of an optimal financial structure that aligns with technological innovation.Thirdly,,there is a threshold effect on the impact of financial structure on innovation.Once the level of economic'development surpasses,the threshold,increasing the proportion.of direct financing,is conducive to cultivating original technological innovation.Building upon.these findings,attention should be paid to the role of indirect financing in promoting financial innovation.Financial intermediaries and financial markets should perform their duties and promote technological innovation based on comparative advantages;increase the proportion of direct financing to promote the output of original,innovation;the banking industry should study and customize financial services based on the characteristics of innovative enterprises,increase financial support,and promote innovative development.

关 键 词：金融结构 技术创新 创新产出 动态门槛模型 

分 类 号：F124.3[经济管理—世界经济] F832