Research On The Impact Of Science And Technology Innovation Board On Enterprise Innovation Capability

The industry positioning of the Sci-tech Innovation Board is to focus on the hard technology industries with key core technological breakthroughs.To achieve this goal,the Sci-Tech Innovation Board has done a different approach in terms of listing access screening,information disclosure requirements,and delisting procedures The purpose of the regulations in other sectors of the market is to enhance the innovation capabilities of enterprises and make them willing and daring to innovate.Whether these mechanisms can really be implemented and whether they can enhance the innovation capabilities of enterprises is of great significance for verifying the capital market’s support for enterprise innovation and the implementation of the country’s policies for building a multi-level capital market.The purpose of writing this article is to use the representative listed company on the Sci-tech Innovation Board-Huaxi Biological as the main body of case analysis to study whether the capital support of the Sci-Tech Innovation Board is indeed as it was envisaged when it was launched: it can support technological innovation enterprises to connect with the capital market,To realize the strategy of strengthening the country through science and technology.The research of this article adopts a method that combines theoretical analysis and case analysis.First of all,this article analyzes the mechanism of the Sci-tech Innovation Board influencing enterprise innovation,and separately analyzes the influence mechanism of the Sci-Tech Innovation Board’s entry screening,price discovery and innovation governance on enterprise innovation.Secondly,according to the existing literature and the characteristics of the science and technology innovation board,the relevant indicators for evaluating the innovation ability of enterprises,such as innovation input ability,innovation management ability,and innovation output ability,are constructed.Thirdly,this article takes Huaxi Biology as a case company and analyzes the three aspects of the company’s innovation input,innovation management,and innovation output capabilities with reference to the company’s pre-IPO,comparable companies(Kangtai Bio),and industry averages.After Huaxi Biotech was listed on the Science and Technology Innovation Board,its innovation investment,innovation management and innovation output capabilities have been significantly improved.This shows that the capital support of the Science and Technology Innovation Board can indeed positively affect the innovation capabilities of enterprises.Finally,this article also combines the relevant conclusions to make the following recommendations for science and technology enterprises and supervisory authorities: enterprises should focus on the cultivation and absorption of talents;enterprises should carry out diversified and quality innovations,and cannot blindly pursue quantity for innovation;supervisory authorities It is necessary to further improve the information disclosure on the science and technology innovation board,promote the reform of the delisting system,etc.,and further consolidate the mechanism of multi-level capital market to help enterprises improve their innovation capabilities.The theoretical significance of this article is to provide empirical evidence on whether the science and technology innovation board can help enterprises improve their innovation capabilities;The board market mechanism provides a certain reference;on the other hand,for science and technology enterprises that want to log on to the sci-tech innovation board,they can provide corresponding references for their further development direction in scientific and technological innovation.