Title :
A study of interaction between loans of financial institutions and technological innovation of the high-tech industries
Author :
Zhongmin, Yin ; Yubing, Ji
Author_Institution :
Coll. of Econ. & Manage., Xi´´an Univ. of Technol., Xi´´an, China
Abstract :
Based on the data from 1995 to 2008, this paper sets up a VAR model which makes research on the dynamic relationship between loans of financial institutions and technological innovation of the high-tech industries. The result shows that there is a long-term stable balance relationship between loans of financial institutions and technological innovation of the high-tech industries. Loans of financial institutions has an important driving effect on scientific and technological innovation of the high-tech industries, but no Granger causality relationship has been found. The imbalance between the risk and profit is the main reason why the financial institutions reduce loans to the high-tech industries.
Keywords :
financial management; innovation management; Granger causality relationship; VAR model; financial institutions loans; high-tech industries; technological innovation; Government; Industries; Investments; Marketing and sales; Mathematical model; Patents; Technological innovation; VAR test; granger causality test; high-tech industries; loans of financial institutions;
Conference_Titel :
Management Science and Industrial Engineering (MSIE), 2011 International Conference on
Conference_Location :
Harbin
Print_ISBN :
978-1-4244-8383-9
DOI :
10.1109/MSIE.2011.5707442
