Abstract:Internet of Things (IOT) industry is the integration of high-tech and emerging industries and has been included in the "Twelfth Five-Year" plan. It has great application prospects and will become the new China's future economic development and long-term competitive advantage point of the decisive factors. Because China's Internet of Things industry is in its infancy, the financial support for the industry development is essential. If there is no industrial policy guidance, no capital investment and accumulation, it is difficult to achieve technological innovation, and thus unable to form a new growth point.
The research method in this paper is the combination of theoretical analysis and empirical analysis, this paper describes a financial support system for the impact of IOT industry development according to definition. Based on panel data that 46 listed companies in 2010-2012 annual report, I establish mixed regression model to analyze the different ways to support the role of enterprises, and thus view the financial support system for our IOT industry development.
Based on the financial support system and empirical results, we know that industrial policy, finance and taxation, venture capital and capital markets have played a good supporting role on China's Internet of Things, however, commercial bank credit’s supporting role is not obvious. Among them, the industrial policy can optimize industry development environment, financial investment can guide social capital to invest in the industry, tax incentives can make the industry create more revenue by reducing the costs and risks, venture capital and capital markets can invest on a large scale due to high risk appetite, and commercial bank credit promotes the development of IOT industry inefficiently because of misallocation of funds and other issues.
Keywords: IOT industry; finance; support system...