The Impact Of Listing On The Science And Technology Board On The Innovation Capacity Of The Corporate Sector

A country’s comprehensive national power is reflected in its scientific and technological strength,in its ability to innovate in science and technology,especially in its scientific and technological discourse in key core areas,and the development of science and innovation-oriented enterprises is of great importance to China’s overall development.The launch of the registration system + Science and Technology Innovation Board provides a better direction and space for the development of science and technology innovative enterprises,and provides a constant source of new momentum for quality development of enterprises,in order to promote the national innovation-driven strategy to take root and promote China’s comprehensive national power.This paper selects 214 companies listed on the domestic Science and Technology Innovation Board from 2019-2020 as the research sample to conduct an in-depth discussion on whether listing will have an impact on corporate innovation activities.This paper has conducted an empirical analysis using the double-difference method,and the results show that the listing of companies on the STB does bring about an increase in corporate innovation,and the findings of the study passed the stability test.On this basis,we tried to examine the mechanism of the promotion effect of listing on enterprise innovation.From the results of the experimental data,it can be seen that listing on enterprise innovation ability is enhanced through two main mechanisms of action,namely the intensity of enterprise R&D investment,and the reserve of quality talents.It is worthwhile to conduct an in-depth study on the contribution of IPO to the enhancement of innovation capability of enterprises.The study provides a reference for enterprises to choose whether to go public or not,and also provides guidance for the government to formulate policies to promote enterprise innovation.