Research On The Technological Innovation Efficiency On New Energy Listed Companies In The Yangtze River Delta Based On The Two-stage Value Chain

Since the "13th Five-Year Plan",the economic development scale,innovation ability and opening degree of the Yangtze River Delta region have reached a higher level.However,with the increasing competition for energy in the world,the imbalance of industrial structure,energy crisis,environmental pollution and other problems have seriously hindered the economic and social development of all countries in the world.At present,it is urgent to optimize the energy structure,develop and apply solar energy,wind energy,biomass energy and other new energy.Yangtze river delta as the.world’s important advanced manufacturing industry base,with about a third of the country’s new energy capacity,bearing industry research and development,the function such as high-end manufacturing,new energy enterprises belong to the high technology enterprise,has the characteristics of knowledge intensive,Yangtze river delta rapid development of new energy enterprise technology innovation ability can not only alleviate the pressure of the energy shortage,environmental degradation,It also drives the development of China’s economic scale and promotes industrial transformation and upgrading.Therefore,based on the two-stage value chain theory,this paper has certain theoretical and practical significance to study the technological innovation efficiency of new energy enterprises in the Yangtze River Delta and its influencing factors.On the basis of combing the theories related to technological innovation and value chain and literature review,this paper analyzes the technological innovation mechanism of new energy listed enterprises,and uses the two-stage DEA,Tobit and other research methods.Based on the two-stage value chain theory,this paper improves the traditional two-stage DEA model and uses the model to empirically study the technology innovation related issues of the new energy listed enterprises in the Yangtze River Delta.In view of the deficiency of the traditional two-stage DEA model,this paper builds a two-stage DEA optimization model to evaluate innovation efficiency and improves the measurement method of technological innovation efficiency of new energy enterprises by adding scientific and technological personnel and capital input on the basis of all the outputs of the first stage being transformed into the inputs of the second stage.Secondly,this model is used to empirically evaluate the technological innovation efficiency of 22 new energy listed enterprises in the Yangtze River Delta region from 2014 to 2018.By drawing a two-stage efficiency matrix,the technological innovation mode of new energy listed enterprises is divided.Secondly,a Tobit two-stage regression model is constructed to study the influencing factors of technology innovation efficiency of new energy enterprises.Finally,it provides theoretical suggestions for the technological innovation and development of new energy enterprises in the Yangtze River Delta and the formulation of government policies.The empirical results show that:first,from the perspective of overall efficiency,the technological innovation efficiency of the new energy listed companies in the Yangtze River Delta is at a medium level,and there are problems such as low resource utilization rate and disharmony between input and output factors.Second,from the perspective of two stage efficiency and its decomposition in the process of the enterprise innovation efficiency disparity between different stage,two stages of the average pure technical efficiency level are lower than average scale efficiency level,economic efficiency mean roughly has inverted "U" type change characteristics,is low efficiency and technology research and development of new energy enterprise overall innovation efficiency of the key factors.Third,from the perspective of efficiency matrix analysis,new energy listed enterprises are divided into low R&D and high transformation,extensive low efficiency,high R&D and low transformation,high R&D a nd high transformation technology innovation mode.Fourth,from the factors that affect the results of the study,firm size,growth ability and financial environment has significant influence to two stage efficiency,government subsidies,equity concentration,no significant impact on the efficiency of two stage,R&D and technology research and development efficiency were positively correlated,and the worker quality did not have positive effects on the economy efficiency.