Research on capital market supporting efficiency of technology innovation

摘要

Based on the use of Malmquist index, this paper measured total factor productivity, technical efficiency change index and technological progress rate index about capital market supporting efficiency of technology innovation in the minority areas.Then, the region's efficiency levels are compared and analyzed, and the results are verified by establishing panel data regression equation about capital market financing and patent. It is found that provincial capital market efficiency in the promotion of local innovation is not balanced, and total factor productivity of capital market investment in technological innovation is higher in areas such as higher technological innovation potential.