Research On Innovation Efficiency And Its Influencing Factors Of China's High-tech Industry

In the current globalized world,enterprises can stand out by relying not only on resources,but also on technology.Any country who wants to gain a foothold in the international community depends more on high-tech industry.Forty years since the reform and opening up,China's high-tech industry has achieved rapid development,but still does not have strong international competitiveness,mainly because innovation efficiency of China's high-tech industry is not high.Therefore,optimizing the allocation of innovation resources and finding root causes of inefficient innovation have become urgent,which can contribute to China's high-tech industry.Through the application of theoretical foundations and empirical analysis,this paper conducts a comprehensive study of current status of China's high-tech industry innovation efficiency and its influencing factors,hoping to provide support for the rapid development of China's high-tech industry.Based on the innovation value chain theory,this paper divides innovation activity of China's high-tech industry into three stages: technology R&D,materialization output and value output.This paper evaluates the innovation efficiency of high-tech industry from the regional and industry perspective,then uses Tobit regression analysis to explore the internal and external factors of innovation efficiency in three stages.The following are main research contents and conclusions of this paper:This paper introduces the innovation value chain theory into research,and divides China's high-tech industry innovation activity into three stages: technology R&D,materialization output and value output,then builds an innovation evaluation index system based on three stages of input-output.This paper analyzes current status of the three-stage innovation efficiency of high-tech industry from the industry and regional perspective by using DEA model.From both perspectives,the technology R&D efficiency is highest,the value output efficiency is relatively low and the materialized output efficiency is the lowest.This paper uses the Tobit panel regression model to conduct an empirical analysis which aims to explore internal and external factors and their influencing mechanisms of three-stage innovation efficiency of China's high-tech industry.The results are as follows.At the technology R&D stage,the scale of enterprises andtechnology R&D efficiency show a significant positive correlation;the intensity of scientific research,the level of industry-university-research cooperation and technology R&D efficiency show a significant positive correlation,but the degree is relatively low;the level of foreign investment and technology R&D efficiency show a significant negative correlation.At the materialized output stage,the quality of laborers,the level of government input,the scale of enterprises and materialized output efficiency show a significant positive correlation.At the value output stage,the level of industry-university-research cooperation,the ownership structure and value output efficiency show a significant positive correlation.Based on the research results,this paper proposes the following corresponding countermeasures,which aims to promote the improvement of innovation efficiency of China's high-tech industries.Promoting industry-university-research integration;improving the labor quality of China's high-tech industry;strengthening government investment and optimizing government support methods;maximizing the scale benefits of China's high-tech industry;promoting China's high-tech industry coordinated development in all stages and regions.