Technological Innovation Efficiency Research Articles

How do executive excess compensation affect enterprise technological innovation: Evidence from a panel threshold model of chinese biopharmaceutical companies

This study examines the levels of executive excess compensation (EEC) that stimulate the quality and efficiency of enterprise technology innovation (ETI). Using a behavioral agency perspective, we investigate how companies achieve superior ETI by providing sufficient incentives to motivate executives to perform to the best of their abilities. We use a panel threshold model based on a sample of Chinese-listed biopharmaceutical companies and find that: (1) providing an EEC between 0.0592 and 0.1907 significantly affects the promotion of ETI quality; (2) regarding ETI efficiency, executives generally do not receive the compensation that they deserve; and (3) the existing EEC has a weak negative impact on ETI efficiency, gradually disappearing as compensation increases. Heterogeneity analysis reveals that restricting EEC to the eastern area and strengthening the supervision of EEC in state-owned enterprises are effective measures for stimulating ETI. We advance the literature by providing guidance on compensation plans to companies in different regions.

Research on the innovation efficiency evaluation of Unicorn Enterprises in Anhui Province based on the three-stage DEA model

Unicorns, as unlisted start-ups valued at more than $1 billion, have a significant impact on economic development and industry innovation. However, they also face problems such as unclear innovation paths and rigid business models, which can lead to lower user satisfaction and lower market value. The article begins with determining the importance of unicorns in the global economy, and points out that the efficiency of technological innovation transformation is the key to measuring their success. Then, the innovation efficiency of unicorn enterprises is evaluated through the three-stage DEA model, and 11 A-share unicorn concept listed companies in Anhui province are empiranalyzed. The research results show that different enterprises differ in the efficiency of scientific and technological innovation, and some enterprises such as COWA ROBOT and INNOTRON MEMORY performing well in pure technical efficiency and scale efficiency. Other companies need to further improve in technology application and scale management. In addition, the research also put forward countermeasures and suggestions such as promoting regional linkage and innovation resource sharing, optimizing government support policies and building an efficient scientific and technological innovation service system, so as to improve the transformation efficiency of scientific and technological innovation achievements of unicorn enterprises.

The driving effect of technological innovation on green development: From the perspective of efficiency

Green development is considered to be an effective way to achieve win-win between economy and environment, and technological innovation is the core driving force of green transformation development. High-tech industries are the core industries of industrial technology and economic development, and their technological innovation ability and green development level are important supports for optimizing the national industrial structure and promoting the green transformation of industries. Therefore, based on the concept of innovation and green development, this paper analyzes the industrial development rule from the perspective of the interaction mechanism between technological innovation and green development, to provide theoretical reference for the design of corresponding development strategies and planning. Hence, NSBM model is constructed to evaluate the efficiency of multi-stage technology innovation and deconstruct the evolution law of technology innovation value chain of high-tech industry. Secondly, GML model is used to evaluate green total factor productivity and clarify the green and high-quality development status of high-tech industry. Finally, the truncated regression model is constructed to analyze the factors affecting the external environment of green transformation development. The results indicate that the upgrading of technology innovation value chain is conducive to promoting green transformation development.

The impact of the free trade zones construction on green technological innovation efficiency ——evidence from 288 cities in Chinese

We measure the green technology innovation efficiency of 288 cities in China from static and dynamic dimensions using the super−SBM model and Malmquist−Luenberger index, and employ "Difference in Difference" (DID) model to evaluate the impact of FTZs construction on green technology innovation efficiency using panel data from 288 prefecture-level cities from 2008 to 2020. The findings show: (1) The FTZs significantly improve green technology innovation efficiency. The decomposition indexes promote the green technology innovation efficiency more from the dynamic productivity dimension (GTFP) functioning on technological advancement. (2) The FTZs can boost the efficiency of green technology innovation through industrial agglomeration, digital economy, and government financial support; (3) The effect of FTZs on the efficiency of green technology innovation differs based on the size and location of the city. Green technology innovation will reach maximum potential when promoting FTZ policy in less developed central, western, and interior regions. This study addresses whether FTZ policies can genuinely support regional green innovation and policy insights to expand opening up and enhance high-quality economic growth.

Scientific and technological innovation efficiency in Chinese provincial higher education institutions: a three-division network DEA approach

Scientific and technological (S&T) innovation in higher education institutions (HEIs) has become a major driving force behind China’s development. The Chinese government has attached great importance to S&T innovation in HEIs, creating the need for efficiency evaluation that can test the effectiveness of S&T policies and provide decision support for S&T innovation. The operational process of S&T innovation in HEIs can be decomposed into three divisions: research and development (R&D), technology transfer (TT), and technical service (TS). Furthermore, the intermediate products produced by the R&D division may be wasted in the TT division. Based on the internal structure and the utilization of intermediate products, this paper proposes a three-division network DEA to explore the efficiencies of S&T innovation in Chinese provincial HEIs. Based on empirical data from 2011 to 2020, the main findings are as follows. (1) The efficiencies of the S&T innovation in HEIs can be improved when the R&D and TT divisions cooperate to avoid wasting intermediate products. (2) The TT division is not only the main source of the overall inefficiency but also the main cause of the efficiency differences among areas. (3) The TT efficiencies of four areas tend to converge to the same steady state.

Banking competition, credit financing and the efficiency of corporate technology innovation

Based on the data spanning 2010 to 2022, this study delves into how banking competition impacts the efficiency of enterprise science and technology innovation by lowering credit costs, enhancing credit availability, optimizing credit allocation, and offering empirical evidence for the significant role of banking competition in influencing corporate technology innovation efficiency. This paper concludes that increased competition in the banking sector notably impacts corporate technology innovation efficiency. Banking competition alters the traditional relationship-based lending model, enhancing banks' ability to assess risks and support innovative projects by enterprises, encouraging enterprises to enhance innovation quality and boost research and development investments, leading to a learning curve effect on innovation and enhancing the efficiency of technology innovation. Mechanism analysis reveals that credit financing plays an intermediary role. Competition in the banking sector leads to lower costs and increased availability of bank credit for research and development in enterprises. It helps address the issue of limited finance for innovation in enterprises, encourages larger-scale innovation, and enhances innovation efficiency. Banking rivalry has a role in enhancing corporate technology innovation efficiency, which is influenced by the environment to a certain extent.

Research on the impact of environmental regulations on green technological innovation in China from the perspective of digital transformation: a threshold model approach

The digital transformation in developing countries is crucial in determining whether environmental regulations can better facilitate green technological innovation. This paper constructs a theoretical model to deduce the relationships among digital transformation, environmental regulations, and green technological innovation. Empirical research is conducted using a two-way fixed-effects model and a threshold regression approach, based on provincial panel data from China spanning the years 2013 to 2020. The results indicate that environmental regulation inhibits green technological innovation. However, digital transformation, by reducing cost pathways, can promote the efficiency of green technological innovation under environmental regulation. This moderating effect exhibits a nonlinear threshold characteristic. Regarding dimensions of digital transformation, the level of digital investment shows no threshold, while both the level of digital application and the scale of digital integration exhibit threshold effects. Presently, in China, digital transformation effectively incentivizes green technological innovation under environmental regulation. Therefore, increasing digital investment, advancing digital applications, and fostering digital integration are inevitable choices to drive green technological innovation under the pressure of environmental regulation.

Does Technological Innovation Efficiency Improve the Growth of New Energy Enterprises? Evidence from Listed Companies in China

With the implementation of “carbon peaking and carbon neutrality” in China, new energy enterprises, as the vanguard in this strategy, have entered a new era of innovation-driven development. However, enterprises at different lifecycle stages will face different internal and external conditions, and there are differences in their internal mechanisms and business performance. In this case, whether technological innovation efficiency can have an obviously positive effect on their growth and what different effects it can have for enterprises at different lifecycle stages have become issues of great concern to company management, investors, governments, and other stakeholders. This research takes 81 new Chinese energy enterprises as the research objects. First, they are divided into growing, mature, and declining enterprises based on the cash flow combination method. Then, their technological innovation efficiencies from 2016 to 2021 are calculated based on the stochastic frontier method and their growth evaluations are performed by taking both financial and non-financial indicators into consideration. Finally, by taking mediating effects into consideration, the heterogeneity effects of technological innovation efficiency on their growth are studied from the perspective of enterprise lifecycles based on the fixed-effect model. The research results indicate that the technological innovation efficiency of new Chinese energy enterprises has fluctuated around 0.90 in recent years, and is generally at a high level. The efficiency ranking of enterprises at different lifecycle stages is mature period > growing period > declining period. Technological innovation efficiency has a positive impact on their growth, and market share plays a mediating role in this process. The effects of technological innovation efficiency on enterprises at different stages are different, with growing and mature enterprises showing a positive impact. Growing enterprises are more affected by technological innovation efficiency due to their demand for innovation-driven development, while declining enterprises often face difficulties such as unstable operating conditions and outdated equipment, and unreasonable technological innovations may actually accelerate their decline.

A Study on the Efficiency of Green Technology Innovation in Listed Chinese Water Environment Treatment Companies

With the continuous advancement of the economy, the issues of resource scarcity and environmental damage are becoming increasingly severe. For example, in terms of water resources, the problems of environmental pollution and ecological imbalance in the water caused by industrial and agricultural wastewater are becoming more serious. In order to reduce water pollution, protect water resources, promote ecological balance, and reduce environmental risks, it is necessary to strengthen water environment management. This study uses the Malmquist DEA model to conduct a study on the green technology innovation efficiency (GTIE) of 24 water environment governance companies from 2019 to 2022. Corporate Research & Development investment and employee compensation are used as the input indicators, while the number of color patents obtained and operating income are employed as the output indicators. The evaluation criteria include pure technical efficiency, comprehensive technical efficiency, scale efficiency, and total factor productivity. The results show that there is significant room for improvement in the GTIE of the listed Chinese water environment governance enterprises, and there are considerable differences among different enterprises. The GTIE is significantly influenced by technological progress, the enterprise size, and the equity ratio. Therefore, water environment management enterprises should enhance their efforts in technological research and development and talent training, optimize resource allocation, improve the efficiency of green technology innovation, and effectively fulfill their social responsibilities. These measures will promote the efficient utilization of ecological water, the restoration of the water environment, and the establishment of a clean ecological environment.

Study of the Impact of Trade Conflicts on Technological Innovation

This thesis utilizes cross-country panel data from Global Trade Alert and WTO databases, and adopts principal component analysis and dynamic panel system GMM estimation to conduct empirical research on the impact of trade conflicts on technological innovation. The results of the study show that trade conflicts are conducive to the improvement of the efficiency of technological innovation in each country, and the specific mechanism is that trade conflicts cause enterprises to lose their inherent market advantages and form the elimination system of the last-stage enterprises within the market to force them to carry out technological upgrading. As China is in a critical transition period from high-speed development to high-quality development, this thesis provides policy advice on how to improve China's technological innovation capacity through the implementation of trade policy.

Research on the impact of China's reform to delegate power, streamline administration, and optimize government services on the technology innovation efficiency of the pharmaceutical manufacturing industry.

The government has recently implemented reforms aimed at delegating power, streamlining administration, and optimizing government services. This reform has eliminated barriers that impede the growth of various industries, thereby unleashing innovative potential. Additionally, there have been several medical policies, including changes to medical insurance and centralized volume-based procurement. China's pharmaceutical market has undergone significant changes, leading to increased demands for innovation technology efficiency in pharmaceutical manufacturing. The three-stage BCC theory was employed to assess the effectiveness of technology innovation in the industry under this reform. Calculate precise comprehensive technical efficiency values, pure technical efficiency values, and scale efficiency values for technological innovation in the pharmaceutical industry across 30 provinces from 2018 to 2020, after removing environmental factors. In 2020, Jiangsu and Shandong and nine other provinces reached the comprehensive technical efficiency frontier surface, joining Tianjin, Zhejiang, and Guangdong provinces. However, Gansu, Qinghai, Ningxia, and Xinjiang still need to catch up due to their smaller industrial scale and lack of technology. To ensure the effectiveness of reforms, it is crucial to fully consider provincial differences. Articulating national and provincial policies is necessary to allow efficient provinces to continue and allocate resources toward less efficient provinces to improve overall efficiency.

Low-carbon innovation efficiency of high-tech industries and its influencing factors

Abstract China has a vast territory, with an abundance of natural resources. Industrial investment of provinces promulgating and implementing state policies and measures on the basis of the various regions and industries are slowly widening the gap, which leads to significant differences in the level of industrial development. The imbalance between development at both provincial and municipal levels has become more prominent. The state has formulated a policy of coordinated development of the regional economy. There are differences between regions and industries in the demand for technological innovation of high-tech industry. This article is from the regional perspective, industry perspective and the perspective of the two. This paper, through the research of technology innovation and output data of China’s 31 provinces, municipalities and autonomous regions, finds the delivery rate is an independent variable of the average number of employees, R&D funds, R&D internal expenditure, external spending, new product sales income, the absorption of funding expenditure, technical transformation of funds for fixed assets, and gross profit as a technological low-carbon innovation efficiency measure. Using factor analysis, multiple regression methods and SPSS software, from the perspective of two regions and industries, enables empirical analysis of the influencing factors of this variable.

Disrupting the Technology Innovation Efficiency of Manufacturing Enterprises Through Digital Technology Promotion: An Evidence of 5G Technology Construction in China

Applying digital technology to help enterprises' innovation activities has become a trend in the context of global industrial digital transformation. Can 5G, an emerging digital technology, help manufacturing enterprises improve the efficiency of technological innovation? This article regards the 5G Technology Pilot Construction policy conducted in China in 2018 as an experiment and investigates how promoting and applying this new digital technology impacts the technology innovation efficiency of manufacturing enterprises. Our research finds that the promotion of 5G technology can significantly improve the technology innovation efficiency of manufacturing enterprises. In addition, the empowering effect of promoting 5G technology on the technology innovation efficiency of manufacturing enterprises is more prominent for cities with higher digital financial capabilities and enterprises with lower technology capabilities. These research findings have important policy implications and theoretical references for countries worldwide to widely promote the construction of 5G technology and combine different scenarios to promote the technology innovation efficiency of manufacturing enterprises.

Fintech Development and Firm Technological Innovation Efficiency: Empirical Findings in China

As a new combination of finance and technology, fintech not only makes people's daily life more convenient but also brings new opportunities for firm growth. Yet, although multiple parties in society have benefited tremendously from the development of fintech, its actual impact on FTIE remains unclear. For this purpose, we adopted a two-way fixed-effect model and considered the data of A-share-listed companies from 2011 to 2019 to analyze the impact of fintech development on FTIE in China and its associated mechanism. We found that fintech development negatively affected FTIE by increasing business risks and debt pressures through risk transmission and regulatory arbitrage, respectively. This finding remains robust after using instrumental variable tests and adopting Poisson and Tobin regression models. Furthermore, such negative impacts are higher for firms in the eastern region, nonmanufacturing firms, and state-owned enterprises. Our findings contribute significantly to the literature on technological innovation and financial regulation by shedding light on the negative impacts of the dominating fintech development on FTIE.

Empirical analysis of regional technological innovation efficiency under the background of talent sharing based on SAF model

Empirical analysis of regional technological innovation efficiency under the background of talent sharing based on SAF model

Environmental regulation, technology density, and green technology innovation efficiency

From the perspective of the innovation value chain, this study divides the innovation efficiency of green technology into two stages: R&D efficiency and achievement transformation efficiency. Technology density is introduced as a threshold variable to examine the influence of environmental regulation on the efficiency of green technology innovation at both stages. The findings reveal that China's overall green technology innovation efficiency (GTIE) is improving. R&D efficiency initially declined, then increased, while the efficiency of achievement transformation experienced a three-stage pattern: rise-fall-rise. The GTIE distribution across the two stages progressively increases from the northwest to the southeast, resulting in a concentrated, contiguous “line-shaped” and “block-shaped” pattern. High-efficiency areas are primarily found in the eastern coastal regions. Nationally, Environmental regulation and R&D efficiency share an inverted U-shaped relationship, with a double threshold effect of technology density. Environmental regulation does not significantly affect achievement transformation efficiency, but there is a single threshold effect due to technology density.

A parallel data envelopment analysis and Malmquist productivity index model of virtual frontier for evaluating scientific and technological innovation efficiency at universities

As an important component of the national innovation system, universities have received widespread attention in recent years regarding their Scientific and Technological Innovation (STI) efficiency. This study considers a new perspective for viewing talent cultivation, scientific research, and social service as parallel subprocesses for universities to perform their functions. We also combine the concept of virtual frontiers to calculate the STI efficiency at universities, avoiding the situation where multiple Decision-making Units (DMUs) cannot distinguish their rankings due to their effectiveness. In addition, we use the virtual frontier method to calculate the Malmquist Productivity Index (MPI), which avoids the inability of DMU to distinguish the Technical Efficiency Change (TEC) due to continuous period effectiveness. Through empirical analysis, we show (1) Although there are significant differences in STI efficiency among universities, it has gradually increased overall, rising from 0.1623 in 2014 to 0.2433 in 2018; (2) The overall MPI of universities is not particularly ideal, with two periods having an MPI less than 1, and only 14 universities having an average MPI exceeding 1 in four periods; (3) The overall average value for TEC is 1.1342, with only one university having a mean value below 1. On the other hand, the overall average for Frontier Shift (FS) is 0.8775, and all universities have FS values below 1. Finally, based on the research results, several practical suggestions are provided.

The impact of green finance and local regulations on industrial green innovation efficiency in China.

When the incentive mechanism of green finance fails to fully promote green technology innovation in industrial enterprises, local government environmental regulations become an important tool in correcting this market failure. However, due to the "follow the cost" hypothesis, the moderating effect of the local government environmental regulation is heterogeneous. In order to explore the impact mechanism of green finance development on the efficiency of green technology innovation in industrial enterprises, spatial effects as well as the heterogeneous moderating effect of local government environmental regulation, this paper systematically evaluates the development level of green finance in 30 provinces in China from 2009 to 2019. It estimates the efficiency of green technology innovation in industrial enterprises using the super-efficiency SBM model, and empirically analyzes the impact mechanism and moderating effect using the spatial Durbin model. The results show that: (1) green finance not only positively impacts the efficiency improvement of green technology innovation in industrial enterprises but also has significant spatial spillover effects; (2) local government environmental regulation has a nonlinear "inverted U-shaped" moderating effect between the green finance development and the efficiency of green technology innovation in industrial enterprises. Based on the research conclusions, this paper proposes policy recommendations from the perspectives of deepening the regional connectivity of green finance and promoting joint regulation by local governments.

大数据背景下西部地区高校科技创新效率提升研究

With the advent of the big data era, data has become an important resource to promote social progress and development. The western region has rich scientific and technological resources and educational resources, but compared with the eastern region, there is still a certain gap in its scientific and technological innovation ability and efficiency. By establishing the evaluation index system of the efficiency of science and technology innovation in universities under the background of big data, this paper analyzes the problems of improving the efficiency of science and technology innovation in western China, and puts forward the strategy of improving the efficiency of science and technology innovation in western China based on the innovation ecological mechanism. The research shows that the evaluation of scientific and technological innovation efficiency in universities in western China focuses on input and output indicators, and the establishment of an innovation ecological mechanism with internal improvement, external support, collaborative quality improvement and cooperative interconnection will promote the improvement of the efficiency of scientific and technological innovation. The research results provide theoretical basis and practical guidance for the improvement of scientific and technological innovation efficiency in universities in western China.

Agglomeration and green technology innovation efficiency of industrial enterprises – Based on spatial statistical analysis

Agglomeration and green technology innovation efficiency of industrial enterprises – Based on spatial statistical analysis