Table 8.

Main relationships between main categories

The serial number	Canonical relation structure	Connotation of relational structure
1	Financing supply → financing allocation → financing output	Financing mainly comes from external supply, including bank loans, equity financing, venture capital. After the industry raises the fund, the financing allocation affects the financing structure and the capital use efficiency. The allocation and efficiency of financing directly affect financing output, such as net asset income and R&D intensity
2	Social environment → financing allocation → financing output	Social environment includes macro-economy, macro-economic risk and social situation, and is the quality of regional economic subsystem in which strategic emerging industries are located. The social environment will affect the talents, technology and consumption of the industry. This is an indirect factor affecting financing efficiency. Social environment affects financing allocation and then changes financing output
3	Financial environment → financing allocation → financing output	The financial environment directly determines the external market supply of industrial financing, and the positioning of different capital markets determines the amount of industrial financing. The maturity of the market also affects the availability of financing
4	Policy environment → financing allocation → financing output	The government is an important supporting force for the development of strategic emerging industries. The government providesi a positive pull for industrial financing through the use of policy tools. Government policies, including direct subsidies, policy-based interest discount and tax relief, can effectively increase the supply of industrial financing, improve the efficiency of financing allocation and increase financing output