Abstract
Innovation efficiency is an important index to measure the innovation performance of high-tech enterprises. Numerous researches have been conducted on innovation efficiency at national, regional, and sectoral levels, while there are comparatively few studies on the innovation efficiency of high-tech small- and medium-sized enterprises (SMEs) from a micro perspective. Therefore, innovation efficiency of 251 high-tech SMEs listed in China from 2012 to 2015 is measured with the super-SBM model in this paper. The results suggest that the overall innovation efficiency is low but shows an upward trend. In addition, the antecedents of innovation efficiency are explored using the panel regression model and the conclusions are as follows: (1) government subsidies, ownership concentration, and market competition deter enterprise innovation efficiency, and the impact of ownership concentration is found to be the most significant; (2) firm size and asset-liability ratio bear positively on enterprise innovation efficiency, with the effect of asset-liability ratio being greater; (3) firm age has significantly positive effects on scale efficiency but not on innovation efficiency and pure technical efficiency.
Highlights
Introduction e Organization for EconomicCo-operation and Development (OECD) views technological innovation as comprising new products or services and the making of significant changes in the products and processes, and innovation is realized when the new product or service is introduced in the market [1]
Even though the classical Data envelopment analysis (DEA) model has been widely applied in many areas, it still suffers from several inherent limitations
A 1% increase in Government subsidies (GS) leads to a 0.0229% and 0.025% drop in the high-tech small- and medium-sized enterprises (SMEs)’ innovation efficiency and pure technical efficiency, respectively. is result is lnGS lnOC lnSize lnALR lnSJ
Summary
Introduction e Organization for EconomicCo-operation and Development (OECD) views technological innovation as comprising new products or services and the making of significant changes in the products and processes, and innovation is realized when the new product or service is introduced in the market [1]. For China, it is a urgent thing as china is at a crucial stage of economic transformation and development. China is at a crucial stage of economic transformation and development. Technological innovation is an inevitable component of promoting the economic leap forward in the development and industrial restructuring in China. As a critical part of the technological innovation ecosystem, high-tech enterprise is a key cog of China’s national innovation system [6]. Such enterprises play a significant role in gathering the needed scientific and technological resources, promoting scientific and technological research, transforming the achievements, and directly or indirectly contributing to the needed economic transformation [7]
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