Technological Innovation Output Research Articles

Impact of National Innovative City Policy on Enterprise Green Technology Innovation—Mediation Role of Innovation Environment and R&D Investment

This study investigates the impact of the national innovative city policy on enterprise green technology innovation amid China’s transformation from a resource-dependent to an innovation-driven economy. Working on city- and enterprise-level data from 2003 to 2018, this study employs the multi-period difference-in-differences (DID) model and the Sobel test to explore the impact of innovative city policies. The empirical results demonstrate that the innovative city policy has improved both the quantity and quality of enterprises’ green technology innovation output. This positive impact is accomplished via improving the urban innovation environment and stimulating enterprise research and development (R&D) investment. The promoting effect of the policy is stronger in attaining green utility patents by state-owned enterprises and green invention patents by non-state-owned enterprises. The positive policy impact is more pronounced for large enterprises. This study provides micro-level evidence regarding the policy’s impact on green innovation, and the results carry valuable policy implications.

How does green finance strategy foster the green transition? Based on the perspective of provinces’ green total factor productivity

China’s Green Finance (GF) policy has been making significant strides toward the transition from a resource-oriented society to one that is resource-conserving and environmentally sustainable. Policymakers are currently focused on increasing green output to facilitate the next stage of green financial growth. In this study, we use panel data from 30 Chinese provinces between 2011 and 2020 to empirically analyze GF’s effect on Green Total Factor Productivity (GTFP). Evidence reveals that GF has a significant positive effect on provincial GTFP by promoting investment in innovation and optimizing industrial structure. However, the positive impact of GF on GTFP can be mitigated by green technology innovation output, highlighting the need for collaborative strategies for GF policy implementation and technology advancement. Furthermore, with the expansion of fintech innovation, the reduction of carbon emissions, and the intensification of environmental regulation, the effect of GF on GTFP is even more pronounced.

A Study of How Technological Innovation Affects China's Economic Development

Technological innovation is a crucial element and driving force behind the advancement of economic development. The two-way fixed effects model is used in this research to investigate how technological innovation influences economic development. The research period spans from 2011 to 2020 and includes 30 provinces, municipalities, and autonomous areas in China. The data used are from Chinas National Bureau of Statistics (NBSC). The empirical analysis led to the following conclusions: Economic development and technological innovation have a significant positive association; the higher the number of patents granted in a citys technological innovation output, the better the regional economic development. Technological innovation significantly and positively affects economic development in both the Eastern and Western areas. However, in terms of economic growth and technical innovation in China, the western area lags behind the eastern region. The government should increase financial investment and policy support in technology innovation and strengthen financial and tax support for new science and technology industries.

Study on the impact of R&D input intensity on technological innovation output - Based on data from China's high technology industry.

With the continuous promotion of China's innovation-driven development strategy, the role of technological innovation on economic development has become increasingly important. In this context, the support of R&D capital investment for technological innovation also becomes non-negligible. This leads to the question of whether the allocation of R&D capital is reasonable and whether there is room for further improvement. This paper is based on inter-provincial panel data from 2009 to 2020, which are classified based on China's National Bureau of Statistics for R&D funding sources in high-tech industries and incorporated into an overall discussion framework. Using STATA16 statistical software, the R&D innovation output of high-tech industries is inves-tigated by building a PVAR model with the perspective of funding sources of R&D input intensity. The study results show that (1) the increase in the intensity of enterprises' own capital investment has a positive impact on innovation output because it can generate a financial "reservoir" effect to support technological innovation. (2) the increase in the intensity of government capital invest-ment has a positive impact on innovation output because it can alleviate the loss of income of en-terprises due to "R&D spillover" and will send a positive signal to the market. (3) the foreign in-vestment intensity has a positive impact on the innovation output of enterprises due to the com-bined effect of "spillover effect" and "crowding out effect". (4) the increase of other capital in-vestment intensity also has a neutral effect on the increase of innovation output under the current financial market environment. Finally, based on the above findings, corresponding policy impli-cations are drawn. This study will help to improve the understanding of R&D capital allocation imbalance and R&D input and output issues in developing countries and provide a reference for policy makers.

External environment uncertainty, key resources acquisition, and corporate technological innovation

AbstractThis study investigates the impact of external environmental uncertainty on technological innovation from the perspective of key resource acquisition. Using data from A‐share listed companies in Shanghai and Shenzhen stock markets from 2008 to 2019, we empirically test the relationship between external environmental uncertainty faced by firms and technological innovation input and output. Our findings reveal that external environmental uncertainty has a negative impact on the input and output of corporate technological innovation. In addition, key resource acquisition, namely, capital resource acquisition and information resource acquisition, plays a mediating role in this relationship. As an asset for obtaining resources, corporate social capital is a crucial means for firms to obtain external resources. This study further incorporates corporate social capital into the analysis, which shows that corporate social capital plays a positive moderating role in the impact of external environmental uncertainty on corporate technological innovation. Furthermore, research shows that compared with nonhigh‐tech industry firms, the technological innovation of high‐tech industry firms is more sensitive to external environmental uncertainty.

Innovation Input, Enterprise Type and Operating Profit

The national development strategy requires enterprises to take technological innovation as a tool to realize the transformation and upgrading of industrial structure and the transformation of development mode. Technological innovation is not only a weapon for enterprises to improve their competitive strength, but also a key means to stabilize themselves in the complex and severe living environment. High-tech enterprises are the key to improve the national innovation level. The performance of innovation input-output of different types of high-tech enterprises is different, which should be analyzed concretely. In order to explore the strongest driving force of enterprise technological innovation and analyze the effective input mode of enterprise technological innovation output maximization, this paper studies the micro data of enterprises in zhongguancun demonstration zone from 2009 to 2016 as samples. The research finds that: There is a significant positive correlation between innovation input and business profit growth. Second, the type of enterprise plays a moderating role in the relationship between independent innovation input and operating profit, but not in the relationship between government innovation input and operating profit.

Mechanisms of How Private Equity Drives Industrial Upgrade: An Empirical Study Based on China’s Panel Data

In recent years, the investment of private equity funds in China has increased and has become an important tool to promote industrial structure upgrades. Therefore, it is of theoretical and practical significance to study how and why industrial upgrades are driven by private equity funds. First, we use the understanding of heterogeneity to study the differences between the use of private equity funds and other financial instruments to stimulate industrial upgrades, and we represent industrial growth from two perspectives: economic aggregate growth and economic efficiency improvement. Next, we use shift-share analysis to disaggregate industrial upgrades into static and dynamic transfer effects, showing that other financial instruments only promote production factor mobility but not production efficiency, while private equity funds significantly contribute to both mobility and efficiency. Finally, the mediating effect model is used to study how private equity funds drive industrial upgrades: mainly from efficiency improvement based on technological progress and innovation output, and to a lesser extent from the promotion of factor mobility. The findings have practical value and implications for the optimization of financial reforms and the sustainability of regional economies.

Combination of industry and finance, innovation input and innovation output-An empirical research based on Chinese listed companies

Under the premise of China's gradual transformation from rapid development to high-quality development, the industry-finance combination formed by financial institutions holding entity companies’ shares is of great significance to promoting the technological innovation of entity companies and industrial technology upgrading. By manually collecting the data of financial institutions holding entity companies’ shares, this paper selected China's A-shares non-financial listed companies from 2013 to 2020 to conduct an empirical test on how the combination of industry and finance affects the technological innovation of entity companies. The test results found that financial institutions holding entity companies’ shares significantly promoted the technological innovation output of entity companies, and the innovation input had an intimidating effect on both. Financial institutions holding entity companies’ shares could advance the innovation output of companies by promoting the companies’ innovation input. And the results also verified the moderating effect of executive compensation. Moreover, it integrated China's special political system to examine the influence of property rights nature on both and verified the heterogeneous influence of executive background. This paper provides a premise for the sustainable development of China's industry and enriches the research content of the combination of industry and finance.

An empirical study on technological innovation and corporate competitiveness of listed coal-to-liquids companies in China

Technological innovation in the CTL1 industry is an important direction for China’s future development. Taking the China’s listed CTL companies as samples, this study makes an empirical test on the relationship between technological innovation capabilities and corporate competitiveness of CTL companies, and explores the regulating effect of enterprise scales on the relationship between technological innovation capabilities and corporate competitiveness, as well as the mediating effect of product differentiation on this relationship. It is found that the investment capacity of CTL enterprises for technological innovation has a significant driving effect on their competitiveness (with the correlation coefficient of 0.017), the output capacity of technological innovation has no remarkable effect on the promotion of the enterprises’ competitiveness (with the correlation coefficient of 0.0298), enterprise scales have a positive regulating effect on the relationship between technological innovation input and output capabilities and corporate competitiveness (with the coefficient of the interaction term of 0.3870 and 0.0002 respectively), and product differentiation plays a mediating effect on this relationship (with the coefficient of the interaction term of 0.147 and 0.096 respectively). From the results, it can be said that increasing R&D expenses of enterprises, encourage the cultivation and introduction of high-end R&D talents as well as strengthen technological innovation and enhance product differentiation can help to improve CTL enterprises’ competitiveness. The conclusions of this study can provide theoretical bases for CTL enterprises to hike and improve their competitiveness in terms of technological innovation.

Do Listed Companies' Technological Innovations Make Institutional Investors' “Group Holdings” More Favorable?

This paper constructs a dynamic panel threshold model with a sample of firms in the Chinese A-share market. We analyse the non-linear relationship and the mechanisms between the two. The study found that there is an inverted U-shaped relationship between corporate technology innovation and institutional investors’ group holdings, and an inverse N-shaped relationship between corporate technology innovation output and institutional investors’ group holdings. And when we add the innovation input to a lag operator, the model calculations are similar to the inverse N-type non-linear model of innovation output, and the two innovation indicators are consistent. When institutional investors feel the sentiment and the “pass the parcel” in the market, they will exit the group because of the risk factor. Although technological innovation in companies will contribute to their long-term development, it is important to be more aware of the risks involved. Excessive levels of investment will still be subject to external financing constraints.

The effects of importing activities on technological and non-technological innovation: evidence from Chilean firms

PurposeThe authors analyzed the effects of importing activities on both technological and non-technological innovation in Chile. They contribute to the literature by hypothesizing and testing the idea that importing activities can foster the introduction of product, process, marketing and organizational innovations in emerging market firms.Design/methodology/approachThe authors used a combination of two economic surveys that included 1,347 Chilean companies. To test their hypotheses, they applied a variant of the Crépon-Duguet-Mairesse (CDM) model (Crépon et al., 1998) accounting for technological and non-technological innovation outputs. Specifically, four alternative innovation output indicators were used to measure the introduction of product, process, marketing and organizational innovations.FindingsThe results revealed that importing activities had positive effects on technological and non-technological innovation. Importers showed a significant advantage in the introduction of product, marketing and organizational innovations. Firms that both import and export (i.e. two-way traders) had an even greater advantage in the introduction of new or significantly improved products.Originality/valueThe authors demonstrated a relationship between importing activities and both technological and non-technological innovation that is novel and relevant, particularly at a historical moment when COVID-19 poses huge economic challenges to emerging market firms. As trade disruptions caused by the pandemic have predisposed some governments to favor protectionist policies, the authors warn that erecting barriers against imports can hamper the innovative success of local businesses.

Foreign Direct Investment’s Impact on China’s Economic Growth, Technological Innovation and Pollution

In recent years, China has gradually become one of the countries with the largest levels of foreign direct investment (FDI). FDI has played a significant role in promoting Chinese economic development, and the FDI technology spillover effect is one of the core forces driving China towards reaching new growth milestones. Therefore, due to the country’s interest in development, there is competition for FDI throughout China. However, the existing imperfect environmental protection system cannot prevent FDI from flowing into China’s highly polluting and resource-intensive industrial chain, possibly causing serious environmental problems. Therefore, the topic of properly introducing foreign capital to promote development and effectively end China’s current environmental pollution crisis has become a research focus. To explore FDI’s impact on China’s economic growth, technological innovation, and environmental pollution, we use Chinese provincial panel data for 2004–2016 to construct a dynamic panel simultaneous-equation model. Considering the interrelationships between the equations, we construct economic models of economic growth, technological innovation, and pollution emissions, and incorporate them into the same research system for generalized method of moments (GMM) estimation. Our results show that FDI has a significant and positive direct impact on China’s economic growth and technological innovation, and can furthermore have a significant pull effect on the domestic economy through the backward spillover channel. At the same time, FDI has a direct and significant impact on the increase in regional waste-water discharge, while exhibiting a pollution halo effect on the emission of sulfur dioxide (SO2) and chemical oxygen demand (COD) emissions directly. In addition, we observe “benign feedback mechanism” between technological innovation output and these three types of pollution, namely SO2 emission, COD emissions, and ammonia and nitrogen discharge.

Examining relationship between service quality, user satisfaction, and performance impact in the context of smart government in UAE

Governments attempt to use all forms of information technologies including Internet and mobile computing to be able to transform relationships with citizens. However, there is a clear gap between the indicator of the impact of technology innovation output and government’s vision in UAE (United Arab Emirates). In this regard, investigating the relationship between service quality, user satisfaction, and performance impact may help the government to mark its current progress and milestone achievement. This research proposed a model based on Delone & McLean IS success model by considering the research context. The modeling of structural equations via PLS (Partial least squares) regression was applied to evaluate the model within the context of public sector in the UAE. The data was collected from a sample of 147 employees in public organizations using a questionnaire. Results demonstrated that the quality of service has a significant effect on user satisfaction. In addition, quality of service and user satisfaction positively influences the staff performance. The outcome of this research helps to enhance the understanding of the impact of smart government applications.

Capital market access and innovation efficiency: A natural experiment from China’s pilot VAT reform in 2012

This study analyzes the evolution of how seasoned equity offerings in the Chinese stock market affect corporate technological innovation by considering the easing of financing constraints through a reduced corporate tax burden. We use 2007–2016 data on listed manufacturing firms registered in the Chinese provinces and cities where a pilot reform program that replaced the business tax with a value added tax (VAT) was implemented in 2012. We explore the changes in and causes of the impacts of seasoned equity offerings on corporate R&D investment, technological innovation output, and technological innovation efficiency before and after the implementation of the pilot reform. Our empirical findings are as follows. (1) Generally, the seasoned equity offerings of listed firms in the manufacturing industries have a significantly positive effect on the firms’ current R&D investment and subsequent technological innovation output. (2) This positive effect shifts along with changes in corporate financing constraints and the dimensions of technological innovation. The pilot VAT reform has significantly changed how manufacturing firms’ seasoned equity offerings affect their R&D investments and technological innovation output. The positive effects of seasoned equity offerings on corporate R&D investment increase after the pilot reform, while the positive effects on the output of technological innovation decrease. (3) Finally, we find that seasoned equity offerings have a negative impact on firms’ technological innovation efficiency after the pilot VAT reform. Corporate governance plays a prominent role.

How is internationalised R&D influencing firms’ technological innovation: empirical results from China

ABSTRACT In today's fiercely competitive global market, developing new technologies is becoming ever more important for firm to stay competitive. Internationalised R&D is especially attractive to firms in developing countries who tend to lack exposure to advanced technologies. A series of studies found that firms who undertake internationalised R&D are more profitable, and some claimed that, overall, it increases patent output. Yet rarely have we studied how the different aspects of internationalised R&D influence technological innovation output. Fewer studies still have paid attention to internationalised R&D in China as the world's largest developing economy and a significant international competitor. Therefore, we conducted a study on the relationship between key components of internationalised R&D and technological innovation output in listed Chinese multinationals. From a literature review and cross-case analysis of four Chinese tech giants, we established network construction and knowledge acquisition as key processes in internationalised R&D, and technological and geographic diversity as key characteristics. We then defined a regression model and metrics and analysed a sample of 40 listed Chinese firms to determine how those characteristics relate and interrelate to the number of international patents held by each firm. The results show positive correlations for all hypothesis tests.

Does air pollution hinder technological innovation in China? A perspective of innovation value chain

This study investigates the influencing mechanism and effects of air pollution on technological innovation from the perspective of innovation value chain. It establishes the influencing mechanism model and corresponding mediation model and then empirically explores the influencing effects and paths of air pollution on innovation, using panel data from China’s 31 provinces during the period of 2004–2017. The results show that the increase of air pollution level, respectively measured by sulfur dioxide emissions, smoke and dust emissions and industrial waste gas emissions per capita, significantly hinders technological innovation. Air pollution has significant crowding-out effect on innovation funds, thereby decreasing the innovation output, but has not yet produced significant talent loss effect. In other words, innovation fund input plays a mediating role between air pollution and technological innovation output, but innovation personnel input does not play the same role. Moreover, air pollution has greater negative impacts on invention patent output and utility model patent output than design patent output. With that, decision-makers should ensure that all the factors play positive roles in innovation value chain. Targeted environmental regulation policies and effective measures should be developed to improve air quality. Moreover, decision-makers should also enhance technology market activeness and competition level, improve the environment for technological innovation and commercialization, and optimize the allocation of innovation funds and pollution control funds.

Does factor endowment allocation improve technological innovation performance? An empirical study on the Yangtze River Delta region.

Technological innovation is an important driving force for the regional economy's high-quality development, and determining ways to improve the condition and allocation efficiency of factor endowment is key to improving the performance of regional technological innovation. Considering the dynamic conditions of technological progress, we empirically study the endowment conditions and allocation efficiency of technological innovation factors input in the Yangtze River Delta region by using the translog production function to explore the interactive mechanism of innovation factors to technological innovation performance during 2000-2017. The results show the following: First, the three innovation factors-innovative human capital investment, research and development (R&D) fund investment, and fixed asset investment-contributed positively to technological innovation performance output in the Yangtze River Delta region, but there is an obvious gap between Anhui Province and the Jiangsu Province, Zhejiang Province, and Shanghai Municipality. Among the three factors, the contribution rate of R&D fund investment is relatively high, and technological innovation is dependent on R&D fund investment. Second, the biased technological progress of technological innovation factors in the Yangtze River Delta region shows a growth trend, and allocation efficiency of all three innovation factors improved continuously. The provinces' order from high to low allocation efficiency is Jiangsu Province, Shanghai Municipality, Zhejiang Province, and Anhui Province; Zhejiang Province showed the fastest improvement. Finally, the alternative elasticity coefficient of the three innovation factors in Jiangsu Province, Zhejiang Province, and Shanghai Municipality is greater than zero. The proportion structure of the input of technological innovation factors matches the regional technological progress. Technological innovation is in the effective economic range, but the fixed asset investment factors are relatively abundant, and there is room for improvement in the factor configuration structure. In Anhui Province, the alternative elasticity of innovative human capital investment and innovation R&D fund investment during 2000-2012 is less than zero, and the factor configuration structure keeps Anhui Province's technological innovation output in the uneconomic range, which is an internal factor that hinders the output of technological innovation performance in this province. They are not inconsistent that input and contribution rate of the innovation factors in the Yangtze River Delta region. The result of this study shows that technological innovation performance not only depends on the input of innovation factors, but also be affected by the allocation efficiency of innovation factors. In order to promote the economy's high-quality development in the Yangtze River Delta region, the government need not only pay attention to the input of innovation factors, but also pay more attention to improve the allocation efficiency of innovation factors.

Industrial structure, technological innovation, and total-factor energy efficiency in China.

The promotion of industrial restructuring and technological innovation is the most important and realistic way of improving energy efficiency. This thesis uses the modified Super-SBM method to measure China's total-factor energy efficiency and then uses the dynamic spatial panel model (DSPM) to verify the effect of industrial structure and technological innovation on total-factor energy efficiency. The study found that from 2003 to 2016, China's total-factor energy efficiency showed a fluctuating trend of "falling first and then rising." The inflection point appeared in 2012; total-factor energy efficiency in the Eastern region was significantly higher than the national average, while in the Central and Western regions, it was significantly lower. The results of the analysis show that both the service adjustment of the inter-industry structure and the productivity growth of the intra-industry structure significantly promote improvements in total-factor energy efficiency. However, due to the low conversion rate of scientific and technological achievements in China, the impact of technological innovation input on total-factor energy efficiency is not significant. This is in contradistinction to technological innovation output which does significantly improve total-factor energy efficiency. The above research conclusion is still robust and reliable after changing the measurement method and spatial weight matrix.

Dynamic Correlation Analysis of Construction Industry Development Level and Science and Technology Innovation

This paper analyzes the relationship between the technological innovation of the construction industry and the development level of the construction industry from the perspective of input and output in the construction industry. Using the time series data from 1995-2017, a vector autoregressive (VAR) model was established. The article uses co-integration analysis, Granger causality test, impulse response function and variance decomposition method to study the index variables. The long-term equilibrium relationship and short-term fluctuation effects between China’s construction industry development, construction industry science and technology innovation investment and output are analyzed. The results show: there are long-term equilibrium relationships and one-way causal relationships between the three variables, and there is time lag. The output of science and technology innovation in the construction industry is positively responded to itself, the development level of the construction industry and the investment in science and technology innovation in the construction industry. Among them, it is most affected by the fluctuation of investment in science and technology innovation. Compared with the development level of the construction industry, the contribution of scientific and technological innovation to the output of scientific and technological innovation is even greater. Finally, relevant policy recommendations for the development of the construction industry and technological innovation in the construction industry are given.

Trend Analysis of Technology Innovation in the Developed Region of China

This paper uses the United States Patent and Trademark Office (USPTO) as a data source, combined with the Global Innovation Index (GII), systematically analyzes the technological innovations of the top 20 countries in the world in recent years, comparing the gaps in technological innovation between China and other developed countries. In 2008-2017, we retrieved 66,004 patents granted by Chinese inventors in the United States in the past 10 years, and analyzed the technological innovation level of first-tier cities in China from the perspectives of time distribution, regional distribution, distribution of assignees, and technical fields. The result shows that China's technology innovation output is growing at a high speed, and the proportion of patents in first-tier cities is 61.99%, the average annual growth rate was 25.33%. The innovation output is concentrated in the fields of digital communication and biomedicine.