The Propagation of New Technology, Information Asymmetry and Financing Patterns

The propagation of new technology generally has huge financing demand, and the financing is in the information asymmetry environment. Market-based financing pattern and bank-based financing pattern have different mechanisms in eliminating information asymmetry problems, and thus the efficiency to provide funds for the propagation of new technology is different. Comparing the mechanisms and efficiency that two kinds of financing patterns eliminate information asymmetry problems in financing the propagation of new technology, facilitate promoting technological progress, clearing the direction of financing pattern reform and even financial system reform in China.