The Frontiers of Society, Science and Technology, 2019, 1(4); doi: 10.25236/FSST.20190343.
School of finance, Nanjing audit university, Nanjing, Jiangsu 211815, China
According to the theory of optimal financial structure, the industrial structure and its risk characteristics determine the financial structure. For the industries with lower risk, banks are more effective financing channels, while for High-tech industries with higher technology and market risk, financing through financial markets is more effective. In this paper, an empirical model of industrial structure and financial structure factors is established to make an empirical analysis of China's high-tech industry export and bank credit. It is found that China's high-tech industry export has not promoted the development of China's financial market, but strengthened the indirect financial structure mainly based on the banking system.
The theory of optimal financial structure ,High-tech Industry Export, Financial Structure
Zhen Zhang. Empirical Analysis on High-tech Industry Export and Financial Structure in China. The Frontiers of Society, Science and Technology (2019) Vol. 1 Issue 4: 271-276. https://doi.org/10.25236/FSST.20190343.
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