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Keywords

sci-tech financial network, network evolution, influencing factors, Heilongjiang province

Abstract

The cultivation of regional sci-tech financial network is conducive to promoting the in-depth integration of the innovation chain, industrial chain, and financial chain, aiding in the advancement of local high-level self-reliance in science and technology, as well as the development of new quality productive forces. On the basis of defining the connotation of the regional sci-tech financial network, this paper analyzes the factors influencing the formation of cooperative relationships among nodes of the network from three aspects: the attributes of technology-based enterprises, the attributes of sci-tech financial institutions, and the binary relationships between them. In terms of attributes of technology-based enterprises, the more invention patents and high-quality talents the enterprise possesses, the easier it is to establish cooperative connections with sci-tech financial institutions. In terms of attributes of sci-tech financial institutions, those with state-owned capital participation and larger scale are more inclined to establish cooperative connections with technology-based enterprises. In terms of binary relationships, technology-based enterprises and sci-tech financial institutions that are geographically close are more likely to establish cooperative connections; investment and loan linkage is conducive to the formation of cooperative relationships in the sci-tech financial network. Based on data from technology-based enterprises listed on the New Third Board in Heilongjiang Province from 2014 to 2022, it analyzes the evolution process and influencing factors of the sci-tech financial network in Heilongjiang Province by using social network analysis and the Quadratic Assignment Procedure (QAP) method. The study found that: the overall scale of Heilongjiang sci-tech financial network has shown an expansion trend, but the expansion growth rate has slowed down, the closeness of relationships among network nodes needs to be enhanced. The dominant nodes in terms of capital supply are all state-owned sci-tech financial institutions, the development of market sci-tech financial institutions is relatively slow, and the sci-tech financial network in Heilongjiang Province is still in the transition stage from government-led to government-guided. The number of high-quality talents of technology-based enterprises, the state-owned participation of sci-tech financial institutions, the scale of sci-tech financial institutions, geographic proximity, investment and loan linkage have a significant impact on the formation and evolution of sci-tech financial network relations in Heilongjiang Province. Among them, the number of high-quality talents owned by technology-based enterprises is the most important factor affecting the evolution of the sci-tech finance network. The number of invention patents authorized by technology-based enterprises does not play a significant role in promoting the network linkage. In light of the actual development situation in Heilongjiang Province, this paper puts forward the optimal development paths of‘retaining local college graduates’ and‘attracting foreign head venture capital’.

DOI

10.16315/j.stm.2024.05.008

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