An Empirical Study On The Impact Of Institutional Environment And Technological Innovation On The Growth Of Enterprises

Under the market economy,the supply and marketing of enterprises 'products depends entirely on the market,and the market environment is constantly changing,consumer demand is changing with the changes in the level of consumption,and science and technology are constantly updated.These factors directly shorten the production and marketing cycle of products.The new elements that affect the growth of the company are constantly pouring in,and the growth of the company has begun to attract much attention.In 2014,national leaders put forward the concept of "mass entrepreneurship and innovation" for the first time.Later,in the 19 th National Congress,the term innovation appeared several times.At the same time,the report clearly stated that innovation is the first driving force leading development and speeding up the construction of an innovative country.Considering that technological innovation can influence the growth of an enterprise as a whole,it is of great significance to discuss the impact of technological innovation on the growth of an enterprise.The research on the growth of enterprises in the academic world is very mature,but few people study the regulatory role of institutional environment in the impact of technological innovation on the growth of enterprises.Many scholars mainly focus on the impact of technological innovation on the growth of enterprises.A few scholars will study the impact of institutional environment on the growth of enterprises,or the relationship between institutional environment and technological innovation.Few scholars have studied the relationship between institutional environment,technological innovation,and enterprise growth.Therefore,this paper mainly studies the impact of technological innovation on the growth of enterprises,and at the same time considers the regulatory role of institutional environment.In recent years,many scholars have paid more attention to the issue of technological innovation in the information industry.However,in fact,the impact of technological innovation on various industries is of great importance.Therefore,this article takes all A-share companies in the Shanghai-Shenzhen stock market from 2013 to 2017 as a research sample to collect relevant documents.Determine the relevant factors,use the Wind database and the annual report of the research company to collect the indicator data,then use Excel software to process the data,and finally use the factor analysis method and SPSS software to perform the principal component analysis of the interpreted variables to obtain a comprehensive factor score.This data is used to measure the growth of enterprises,select asingle index to measure the intensity of R&D investment to measure technological innovation,and refer to Fan Gang and others to measure the overall market process score to measure the institutional environment.Through empirical research,it is found that technological innovation can promote the growth of enterprises;A good institutional environment can promote the growth of enterprises;The better the institutional environment,the more technological innovation helps the growth of enterprises.Finally,some suggestions are put forward for the conclusion of the study.The innovation of this paper is to take enterprise growth as the leading direction and analyze the impact on enterprise growth from the perspective of institutional environment and technological innovation.It mainly explores the influence of the regulatory variables on the relationship between technological innovation and enterprise growth.