Proceedings of the 4th Management Science Informatization and Economic Innovation Development Conference, MSIEID 2022, December 9-11, 2022, Chongqing, China

Research Article

An Empirical Study on the Development Level of Sci-tech Finance for Anhui Province Based on Factor Model and Clustering Model

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  • @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
Zebin Liu1, Guangkui Xu1, Lei Shen1,*, Yi Zhou1
  • 1: School of Finance and Mathematics Huainan Normal University
*Contact email: Shenlei0922@qq.com

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.