目录....................................................................................................1....................................................................................................2..................................................................................................4......................................................................4......................................................................................6..................................................8..........................................................................8..........................................................................9............................................10.....................................................................13.....................................................................................13.....................................................................................15................17................................................................17........................................................17......................................................................................20......................................................................................20......................................................................................20..................................................................................................21..........................................................................................................22中文摘要2016年，党中央颁布的《国家创新驱动发展战略纲要》着重强调要深入实施创新驱动发展战略，全国掀起一股重视创新、激励创新、支持创新的热潮。2017年我国全社会研发支出达到1.76万亿元，同比增长17.3%，占国内生产总值的2.15%，超过欧盟15国平均2.1%的水平。作为技术创新较为活跃的行业，高新技术产业却面临着筹资困难的局面。作为一种新兴的融资方式，风险投资在我国出现较晚，但具有传统融资渠道所不具备的优势，因而深受有融资需求的中小企业的青睐。风险投资除了提供资金的职能以外，还具有提供非资本类增值服务的职能，从而可以促进高新技术产业的发展升级。本文将高新技术产业设定为研究对象，分别从理论和实证的角度研究风险投资对高新技术行业技术创新的影响。从理论上，本文重点阐述风险投资对技术创新的作用机制；从实证上，本文运用DEA模型，利用2007-2016年我国高新技术产业的相关数据，侧重从效率的角度进行实证研究，实证结果表明：风险投资对技术创新的影响远远高于R&D经费和R&D人员全时当量对技术创新的影响，即相比较于R&D投入，风险投资对技术创新的支持力度更大。关键词：风险投资技术创新高新技术产业DEA模型ABSTRACTTheOutlineofNationalInnovation-drivenDevelopmentStrategypromulgatedbyThepartycentralcommitteein2016emphasizestheimportanceofthefurtherimplementoftheinnovation-drivendevelopmentstrategy.Awaveofinnovationhasbeensetoffacrossthecountry.In2017,China'stotalsocialR&Dexpenditurereached1.76trillionyuan,anincreaseof17.3%overthesameperiodlastyear,accountingfor2.15%ofGDP,exceeding2.1%oftheaverageof15Europeancountries.Asanewfinancingway,venturecapitalhasemergedlateinChina,buthastheadvantagesthattraditionalfinancingchannelsdonothave,soitisfavoredbysmallandmedium-sizedenterpriseswithfinancingneeds.Inadditiontothefunctionofprovidingcapital,venturecapitalhasthefunctionofprovidingnon-capitalvalue-addedservices,whichcanpromotethedevelopmentandupgradingofthehigh-techindustry.Inviewoftheabove,thisar...
