Research On The Impact Of Technological Innovation Of Listed Companies In Automobile Manufacturing Industry On Financial Performance

With the increasing trend of global economic integration,acquiring and maintaining competitive advantage has gradually become the main task of the strategic development of each company.More and more enterprises begin to focus on the technology field,especially hope to effectively improve the core competitiveness of enterprises through technological innovation.However,whether to improve the level of technological innovation will effectively improve the financial performance of enterprises has become the first problem in front of enterprises.Automobile manufacturing industry is an asset and technology intensive industry.It is urgent to explore the relationship between technological innovation and financial performance.This paper studies the relationship between technological innovation and financial performance of Listed Companies in automobile manufacturing industry.First of all,it defines the automobile manufacturing industry,technological innovation and financial performance,analyzes the mechanism of technological innovation affecting financial performance based on relevant theories,draws corresponding assumptions,builds appropriate models,selects the data of 88 listed companies in automobile manufacturing industry 2011-2018 as research data,and selects patent data table based on various considerations during the research process On the basis of analysis,principal component analysis is used to select indicators related to technological innovation,build a comprehensive financial performance indicator,use the method of model regression to verify the impact of technological innovation on financial performance,and use the method of transformation of independent variables,dependent variables and models to verify its robustness.The results show that the lag of technology innovation of Listed Companies in automobile manufacturing industry has a positive U-shaped relationship with financial performance,while the phenomenon of enterprises in regions with good intellectual property protection,state-owned enterprises and enterprises with high brand awareness is more obvious.Based on the research results,this paper puts forward relevant countermeasures from the perspectives of the state and enterprises.The state should strengthen the protection of intellectual property rights and accelerate the process of the reform of mixed ownership in the automobile manufacturing industry.Listed companies in the automobile manufacturing industry should not only attach importance to technological innovation,but also attach importance to the transformation speed of technological innovation achievements and strengthen the construction of brand awareness.This paper mainly studies the listed companies of automobile manufacturing industry,in order to provide suggestions for the management to carry out technological innovation and the country to deepen the reform of mixed ownership,and also reveals the transmission mechanism of the impact of technological innovation on financial performance at the theoretical level.