Emperical Research On The Institutional Innovation And The Growth Of China's Listed SMEs

In the 21st century, some of our high-quality SMEs in the small board continue to develop rapidly.Especially in Shenzhen,in recent years, the SMEs has become an important part of the national economy. The small and medium enterprises in Shenzhen has also become the main channels of employment. Meanwhile, SMEs are also the ensurance of the healthy development of state-owned large and medium enterprises. It has also been an important foundation of establishing and perfecting the socialist market economic system and the main force of innovation. However, with the change of the domestic and international economic situation, small and medium enterprises are relatively small, backward production technology and industrial structure, poor management and market competition.All these inherent imperfections gradually are revealed. Varying degrees of operational difficulties and growth rates decline, decline in operating efficiency and other issues are all appeared.To solve the above problems, we depend greatly on the innovation process. Business innovation is a driving force for the development of the enterprises, and institutional innovation is currently one of the key factors for SME development. In today's increasingly competitive market, small and medium enterprises are as an important part of the national economy.The only way to achieve sustainable development is by means of system innovation.Of course we need enterprises, markets and governments to work together.Since 80s in the twentieth century, Europe and other Western countries, by means of continuous institutional innovation of SMEs, a large number of SMEs grow rapidly. By comparison, China, in this context, although a large number of SMEs have also made considerable progress. But by comparison with Western and other countries, innovation of the system, the gap still exist and very large. To some extent the development of enterprises is constrained. What is the status of Innovation and growth of SMEs in China? How is the correlation between business growth and Enterprise system innovation? What the system of innovation of SMEs include? How to improve the system of innovation of SMEs?To answer these questions, this chapter defines the concepts of small and medium enterprises, growth, and institutional innovation.And we review the domestic and abroad status of relevant research, and the domestic and abroad theory on the small and medium enterprises, growth theory, and the system of innovation theory. The second chapter is based on the first chapter, we choose the SMEs in China as sample, and design evaluation index systemof the innovation and growth of SMEs.In ChapterⅢ,we described and evaluated the overall situation of SMEs, the growth of small and medium status and status of system innovation of SMEs. In chapterⅣwe filter scientific sample data and analyse the relationship between system innovation and growth of SMEs.Meanwhile we analyse the important factor of system innovation of SMEs. ChapterⅤis based on the prevous empirical analysis and theoretical analysis. We summarize the relationship between innovation system of Chinese SMEs and growth of Chinese SMEs.Finally,we decide which are the factors of institutional innovation of SMEs.With the further development of our economy and the launch of the GEM small plates, managers are becoming to be concerned about the growth of SMEs. Innovation plays an importantrole in the growth of SMEs. We research the relationship between the institutional innovation and the growth of SMEs, not only for what is the empirical relationship between the two, even more for finding out the weight of each main component.,thereby providing for entrepreneurs and managers What aspects of institutional innovation should be concerned, and where should be placed to provide some ideas and information.This study not only theoretically complement the lack of relevant research fields, but also in practice helps enhance the development of the system innovation of SMEs.The meaning of promoting the growth of SMEs in China is significant.