Relationships between Maturity of Stock Market and Technological Innovation

• Main Authors: Tsung-Jui Liu, 劉宗叡
• Other Authors: Yu-Jen Kuo
• Format: Others
• Language: zh-TW
• Published: 2012
• Online Access: http://ndltd.ncl.edu.tw/handle/47775350811385255164

碩士 === 國立中山大學 === 中國與亞太區域研究所 === 100 === Technological innovation is a key process for the modern enterprise to gain competitiveness. Technological innovation let United States companies become the leader of the world, and the well developed capital market is the source to promote technological innovation. Science and Technology is the goal of Japan. Japan learns from technology and innovation to become a technological power. But the financial structure is different from United States and Japan. The difference for supporting technological innovation is the subject of this research. The study found that stock market is the most important funding outside the banking system. The mature stock markets in the United States gave birth to the successful technological innovation of the modern enterprise. Whether it the patent application and the export of new products and technologies are the highest in the world. The stock market of Japan is not develop enough, it can’t give enough support to technological innovation. But the tight relation between the companies and banks make up for the immaturity of the stock market. And the relation promotes the enterprises to obtain the outstanding achievements in technological innovation. Overall, the mature stock markets of United States support the development of technological innovation, and achieve a higher degree of technological innovation.