Research on the Impact of Chinese Science and Technology Finance on Entrepreneurial Efficiency

Research on the Impact of Chinese Science and Technology Finance on Entrepreneurial Efficiency

Hubei University.

Journal of Modern Economy

This paper is based on panel data of 30 provinces and cities in China from 2008 to 2017, The convergence of innovation efficiency is tested by σ convergence and β convergence test, Using stochastic frontier model and principal component analysis to analyze the impact of Chinese science and technology finance on entrepreneurial efficiency. The study found: Venture capital investment is more flexible than the output of entrepreneurial man-power investment, technology finance has a significant positive impact on entrepreneurial efficiency, but there is a problem of regional development imbalance. Convergence and divergence analysis found, the gap in entre-preneurial efficiency between the central, eastern and western regions is gradually narrow; Factors such as social capital, economic development level and foreign direct investment also have a positive impact on entrepreneurial efficiency. Finally, this paper also puts forward some suggestions on improv-ing the efficiency of entrepreneurship from the perspectives of upgrading science and technology financial services, developing science and technology financial innovation and entrepreneurial environment.

Keywords: Fintech, Social capital, Entrepreneur efficiency, Conversion efficiency

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How to cite this article:
JIANG GAI, WANG LUAN FENG.Research on the Impact of Chinese Science and Technology Finance on Entrepreneurial Efficiency Journal of Modern Economy, 2019,2:7. DOI: 10.28933/jme-2019-01-1808


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