A study on the innovation efficiency of high-tech listed companies in China - Analysis based on three-stage DEA with Malmquist index

Abstract

In order to adapt to the changing market environment, enterprises need to continuously conduct innovative R&D activities, and innovation efficiency has become a key factor for high-tech enterprises to capture the market. This paper uses a three-stage DEA model and the Malmquist index to measure and analyze the technical efficiency of 60 high-tech enterprises in China from 2013-2021. The findings show that environmental factors have a significant impact on the technical efficiency of enterprises, pure technical efficiency is underestimated and scale efficiency is overestimated, and scale efficiency should be improved by expanding production scale; high-tech enterprises face contradictions between scale efficiency and technical efficiency, and policies drive the technical level to improve, but the comprehensive technical efficiency does not grow. Technological innovation during the epidemic has improved the technical level and utilization efficiency, but the comprehensive technical efficiency still declined. This paper is of great significance in assessing the efficiency of high-tech enterprises between technological inputs and market output, helping them to identify room for improvement and enhance innovation efficiency and competitiveness.