金融支持对战略性新兴产业发展的影响——基于中国上市公司的实证分析
The Effect of Financial Support on the Development of Strategic Emerging Industries: An Empirical Analysis based on Chinese Listed Companies

基于柯布-道格拉斯生产函数的理论分析，建立面板数据模型并采用上市公司财务数据，实证分析了金融支持对中国战略性新兴产业发展的影响作用。结果表明：以资本市场为主导的直接金融体系相对于以银行信贷为主导的间接金融体系的正向支持作用更为稳健；固定资产净额和无形资产净额对战略性新兴产业发展的不同方面呈现出不同的影响作用；劳动投入水平对战略性新兴产业发展产生显著的正效应。
Based on the theoretical analysis on the Cobb-Douglas production function, this paper builds the panel data model to empirically analyzes the effect of financial support on development of China's strategic emerging industries by using the data of listed companies. The result shows that the positive financial support of the capital market of the direct financial system is more robust than that of bank credit of the indirect financial system; net fixed assets and net intangible assets both have different influences on different aspects of development of strategic emerging industries; labor input has the significant positive effect on the development of strategic emerging industries.