科技金融内涵、金融成长周期与科技金融体系研究

Research on the Connotation of Sci-tech Finance,Financial Growth Cycle and Sci-tech Finance System

科技创新与金融创新是推动社会经济发展的主要推动力,而其相互结合的科技金融也成为经济转型升级的突破点。本文以科技金融内涵本质为渊源,以企业生命周期、金融成长周期和金融抑制、金融深化等理论为研究基点,依据中国科技金融实践,阐述并构建了科技金融体系,且以企业为核心、以金融成长周期为逻辑论证主线,探索了企业初创期、成长期、成熟期和衰退期的不同发展阶段融资特征及融资渠道。最后通过对科技金融创新、科技金融环境建设以及科技金融协调机制等方面的演化趋势进行研判,以期对中国目前科技金融系统建设提供科学理论依据。

The technological innovation and financial innovation are the main driving forces for social and economic development, and their combination of sci-tech finance has become a breakthrough in economic transformation and upgrading. This paper takes the connotation of sci-teeh finance as its origin, takes thetheories of enterprise life cycle, the financial growth cycle , the financial restraint, and the financial deepening and so on as the research basis,and based on China sci-techpractice,it expounds and constructs the sei-tech financial system. Moreover, this paper takes the enterprise as the core and takes the financial growth cycle as the logic demonstration main line, and exploresthe financing characteristics and financing channels of enterprises in different development stages of start- ups, growth, maturity, and decline. Finally, it analyzes the evolution trend of sci-tech finance innovation, sci-tech finance environment construction and sci-tech finance coordination mechanism, the author hopes to provide a scientific basis for the construction of China＇ s current scientific and technological financial system.