科技金融助力战略性产业高端化的逻辑、绩效与着力点

Technology Finance Supports High-end Strategic Industries:Logic,Performance and Focus

认为无论是从理论逻辑、现实逻辑还是从经验逻辑来推断,实现中华民族伟大复兴,都必须坚持产业升级和产业高端化战略。选择247家样本企业实证研究了科技金融支持战略性产业高端化的绩效。结果显示,企业自有研发资金和风险资本的增加有利于提高企业的全要素生产率,而企业自有研发资金和股权资本的增加对于企业创新能力的提升具有显著的推动作用。基于此,在科技金融支持战略性产业高端化过程中,建议资本市场着力于机制健全,政府资金着力于滴灌绩效,科技信贷着力于风险可控,风险资本着力于稳定信心,商业信用着力于重塑链条。

To realize the great rejuvenation of the Chinese nation,we must adhere to the strategy of industrial upgrading and industrial high-end,no matter from the theoretical logic,realistic logic or empirical logic.By selecting 247 sample enterprises to empirically study the performance of high-tech finance in supporting the high-end of strategic industries,the empirical results show that the increase of enterprise's own R&D funds and venture capital is conducive to improving the company's total factor productivity,while the increase of enterprise's own R&D funds and equity capital has a significant role in promoting the improvement of enterprise innovation capabilities.In the process of technological finance supporting the high-end of strategic emerging industries,it is recommended that the capital market focus on sound mechanisms,government funds focus on drip irrigation performance,science and technology credit focus on risk control,venture capital focus on stabilizing confidence,and commercial credit focus on reshaping the chain.