Research on the Impact of Human Capital Investment and Enterprise Innovation Performance Based on the Perspective of Enterprise Heterogeneity

Abstract

Purpose: This study aims to analyze the Impact of Human Capital Investment and Enterprise Innovation performance on the basis of the perspective of enterprise heterogeneity. Theoretical framework: Nowadays, Enterprises want to gain a foothold in the fierce competition of globalization. Therefore, the ability and level of developing new technologies and research and development of new products have become important factor in determining the long -term development of enterprises. Design/methodology/approach: The article is sampled by the data of China GEM1 listed companies from 2009 to 2020 to study the relationship between human capital investment and innovative performance, and empirical inspection of the heterogeneity of the scale and age of enterprises on human capital investment and innovative performance. The study also adopts panel OLS regression. Findings: The research results show that: First of all, the stock of human capital is being promoted to innovative performance, and human capital training is being promoted to innovative performance; Secondly, compared with young enterprises, the human capital stock of older enterprises has a greater impact on enterprise innovation performance. Research, Practical & Social implications: In young enterprises, human capital training has no significant impact on enterprise innovation performance, but in older enterprises, human capital training has a positive impact on innovation performance. Originality/value: After an enterprise develops to a certain stage, human capital can become an important factor restricting its development. Thus, strengthening human capital investment at this stage can effectively promote innovation.