Impact of sci-tech finance on the innovation efficiency of China's marine industry

Abstract

To realize the high-quality development of China's marine economy, it is important to vigorously promote blue finance and increase the support of science and technology finance for the innovation development of the marine industry. Based on the existing literature research, this paper uses two-step empirical evidence to investigate the role of science and technology finance on the innovation efficiency of the marine industry by combining the development status of science and technology innovation, science and technology finance in the marine industry. The results of the study show that government financial investment in science and technology finance has a significant contribution to the innovation efficiency of the marine industry; The innovation efficiency of marine industry is positively but not significantly affected by the investment of enterprises' funds in science and technology, and the innovation efficiency is inhibited by the investment in entrepreneurial risk management. In addition, there are still large differences in the efficiency of innovation in the marine industry among different regions. Moreover, we propose the government support the marine industry science and technology innovation fully, optimize risk investment and improve the investment return guarantee mechanism, and unblocked the indirect financing channels of the financial market for the sea-related science and technology innovation enterprises, and give policy recommendations to develop the marine industry science and technology innovation activities.