The Relationship Between Executive Power And Innovation Performance

With the deepening of global economic integration,technological innovation follows.Market competition becomes increasingly fierce,and product life cycle is gradually shortened.Only by developing new technologies can enterprises acquire and maintain core competitive advantages.At the national level,the Chinese government attaches great importance to the innovation,and increases R & D investment year by year.The Shenzhen GEM market opened in October 2009,providing good financing environments and development spaces for many small and medium-sized high-tech enterprises.According to the Management Power Theory,the implementation of corporate decision-making is often affected by the executive power.In addition,with different life cycle stages,enterprises have different organizational structures,financing environments and production methods.Therefore,enterprises should choose innovative decisions that suit their development directions according to the life cycle stages.The paper is based on the high-tech enterprises listed on the Shenzhen GEM before December 31,2014,and regards 2010--2016 as the research time.Firstly,the comprehensive strength of executive power is calculated by factor analysis,and then the stability test and cointegration test are used to analyze the equilibrium relationship between variables.Next,the basic analysis of variables is carried out through descriptive statistics and correlation analysis.Finally,the content focuses on cluster analysis,multiple regression analysis and robustness test,and verifies the theoretical assumptions made in the previous paper.The research conclusions are as follows:First,the structural power,expert power,ownership power,reputation power,and the comprehensive strength of executive power have a positive impact on the patent output of the current period,the first period of the lag,and the two periods of the lag.But only on the economic output of the two periods of the lag,there is a positive effect.Second,in the three life cycle stages,the positive influence of executive power for innovation performance is the weakest in the initial enterprises.The positive influence of executive power for patent output is the most significant in the growth enterprises,and the positive impact of executive power for economic output is ranked second.Thepositive influence of executive power for economic output is most significant in mature enterprises,and the positive impact of patent output is ranked second.The research conclusion is the biggest innovation of the paper.On the one hand,it fills the gaps in the relevant research fields and has great theoretical significance.On the other hand,it has a guiding role for the innovation activities of enterprises in different life cycle stages,and the practical significance is important.Based on the above findings and conclusions,the paper proposes recommendations from the perspectives of executive power,innovation activities and corporate life cycle,and government policies to further enhance the innovation performance of GEM high-tech enterprises.At the end of the paper,through the analysis of the limitations in the research process,the related prospects for improvement in the future are proposed to carry out more in-depth research.