The Motivation Of KY Company’s High-tech Enterprise Identification And Research On Economic Consequences

In recent years,China has actively encouraged enterprises to enhance their ability of self-innovation in order to face more and more severe market competition pressure.Enterprise innovation is not only related to the competition between enterprises,but also related to the ability of sustainable development between countries.Because of the characteristics of high cost and high risk,enterprise innovation needs the government to issue relevant policies to actively guide.The administrative measures for the recognition of high and new technology enterprises issued in 2008 aims to improve the innovation power of enterprises and the independent innovation ability of China through the help of the government.The implementation of policies for high-tech enterprises will bring enterprises such convenient conditions as government subsidies,tax preferences,cooperation in production,education and research,and preferential financing.Therefore,enterprises often enthusiastically declare high-tech enterprises.Because of the enterprise’s enthusiasm for this policy,some enterprises may have the innovative motive of catering to obtain the title of high-tech enterprises.Can such enterprises effectively use the policy,improve their self-innovation and financial performance? At present,there is no clear answer in the research at home and abroad.Therefore,this paper focuses on the impact of the qualification of high-tech enterprises on enterprises,as well as the possible financial risks,and then puts forward reasonable suggestions.After expounding the research background and relevant significance,this paper summarizes the evaluation of domestic and foreign scholars on the recognition policy of high-tech enterprises,and also combs the international and domestic policies on government intervention and innovation.In theory,it mainly uses four theories: public product theory,signal transmission theory,information asymmetry theory and resource dependence theory to analyze the economic consequences of the case company’s high-tech enterprise identification.In terms of cases,this paper mainly adopts the fuzzy comprehensive evaluation method,specifically through the five dimensions of text sentiment,text complexity,text similarity,rent-seeking behavior and statistics of non-invention patents,to comprehensively evaluate and analyze the innovation motivation of KY company for identifying high-tech enterprises.After confirming the catering innovation motivation of KY company,it further analyzes the enterprise through the financial index method the impact of the identification or review of high-tech enterprises on their innovation performance,financial performance,financial risk and market response.Through the above case study,we can get the following enlightenment: first,KY company will have a higher incentive to cater to innovation in order to obtain the success of high-tech enterprise identification or review,so the enterprise will make a series of whitewash innovation behaviors,including increasing the number of non-invention patents,seeking rent from the government,whitewash financial reports,etc.Second,because the recognition of catering to innovative high-tech enterprises has not really realized the transformation of scientific and technological achievements,so the qualification of high-tech enterprises cannot really improve their innovation performance.Third,the recognition of high-tech enterprises that cater to innovative enterprises will promote the financial performance and market reaction of enterprises to a certain extent.Specifically,the improvement of financial performance is reflected in the improvement of debt paying ability,while the growth ability and profitability are judged according to the transformation ability of scientific and technological achievements of enterprises.Meanwhile,KY company has two reviews of high-tech enterprises When the event is successful,the market responds well,indicating that the title of high-tech enterprise can give the market strong confidence.Fourth,there will be greater financial risks in the identification of high-tech enterprises to cater to innovative enterprises,including tax risks and R&D risks,both of which will pose a threat to the cash flow of enterprises.Based on the case of KY company,the following suggestions are put forward: the government should regulate the intermediary agencies,pay attention to the motivation of enterprise identification,adjust the identification standards,enterprises should consider their own identification needs,carefully declare high-tech enterprises,and use relevant policies to improve their self-worth.