An Empirical Study On The Impact Of Technological Tnnovation On Financial Performance

At present,the competition between countries is increasingly focused on the development and innovation of science and technology.Blockchain technology,as an emerging technology in the Internet era,has set off a new round of technology trend in the world and attracted worldwide attention.Western developed countries took the lead in deploying and guiding the development of blockchain technology in their national strategies.In order to dominate the new generation of information technology rights,the Chinese government began to promote the basic research and development and advanced layout of blockchain technology in policies from the "13th Five-Year" period.Thus,China has also ushered in the era of policy dividend of blockchain.In such an era,blockchain technology has become a breakthrough for enterprises to strive for market position and important technical resources.At present,the existing research literature at home and abroad has shown that there is a close relationship between technological innovation and financial performance of enterprises.However,most of the research on blockchain focuses on the technical principle and application,and there are few specific studies on the relationship between technological innovation and financial performance of blockchain enterprises.Based on technological innovation theory,input-output theory and other basic theories,this paper conducts theoretical analysis on the relationship between technological innovation and financial performance of blockchain enterprises,and establishes research hypotheses.The relevant data of the listed companies of blockchain concept stocks from 2015 to 2019 are selected as the research object,the variable indicators are determined and the research model is established.Descriptive statistical analysis,Pearson correlation analysis,linear regression analysis and other research methods are used to deeply analyze the relationship between technological innovation and financial performance of blockchain enterprises,and carry out comparative analysis of industries.Through empirical research,the conclusion is drawn: the listed companies of blockchain concept stocks pay more attention to the input and output of technological innovation,and the overall level of technological innovation needs to be improved.The technological innovation of blockchain enterprises has a significant current impact and lag benefit on financial performance,and there are obvious industry differences.Finally,on the basis of the research conclusion,put forward the proposal from different angles: the government should improve the chain block input and output of technological innovation consciousness,increase block chain enterprise technology innovation policy support,establish and perfect the chain block industry norms and standards,as well as information disclosure system,broadening the block chain enterprises to carry out technical innovation activities of the financing channels;Enterprises should reasonably plan blockchain technology innovation activities,ensure continuous and stable R&D capital investment,establish a high-quality R&D team,accelerate the marketization of blockchain technology achievements,and give full play to the advantages of blockchain technology to establish the core competitiveness of enterprises.