Research Article
An Empirical Study on the Development Level of Sci-tech Finance for Anhui Province Based on Factor Model and Clustering Model
@INPROCEEDINGS{10.4108/eai.9-12-2022.2327633, author={Zebin Liu and Guangkui Xu and Lei Shen and Yi Zhou}, title={An Empirical Study on the Development Level of Sci-tech Finance for Anhui Province Based on Factor Model and Clustering Model}, proceedings={Proceedings of the 4th Management Science Informatization and Economic Innovation Development Conference, MSIEID 2022, December 9-11, 2022, Chongqing, China}, publisher={EAI}, proceedings_a={MSIEID}, year={2023}, month={3}, keywords={sci-tech finance index calculation factor model cluster analysis}, doi={10.4108/eai.9-12-2022.2327633} }- Zebin Liu
Guangkui Xu
Lei Shen
Yi Zhou
Year: 2023
An Empirical Study on the Development Level of Sci-tech Finance for Anhui Province Based on Factor Model and Clustering Model
MSIEID
EAI
DOI: 10.4108/eai.9-12-2022.2327633
Abstract
Sci-tech finance mainly refers to integrating the technology and financial industries, which belong to industrial finance. The world is seeing a considerably high degree of integration of technological industries in the era of the digital economy, which is beneficial for sci-tech finance to innovate and boost with the application of developing technologies like AI, cloud computing, quantum computing, blockchain, and big data. Sci-tech finance is instrumental in enhancing innovation and entrepreneurship, providing a new driving force for the tremendous enhancement of the regional economy in China. For the sake of quantifying the development level of sci-tech finance for Anhui province, this paper firstly calculates sci-tech finance indexes for 16 prefectural-level municipalities in Anhui province by using a factor model based on seven indicators covering three aspects: sci-tech finance input, sci-tech finance output and loan-level for financial institutions. Secondly, the clustering model analyzes each city’s development level category based on a comprehensive index of sci-tech finance.