Evaluation On Innovation Efficiency Of China's Listed Iron And Steel Enterprises

The economic development of China has entered a new normal period.In the traditional steel industry,there are prominent problems such as low-end product excess,high pollution,and high energy consumption,which have severely restricted the development of iron and steel enterprises.When the State 's “13th Five-Year Plan” states that it is necessary to establish and implement the “innovative,coordinated,green,open,and shared development concept”,the “innovation” of it puts forward higher requirements for the development of steel companies,and promotes steel with technological innovation.The pace of reform in industrial transformation and upgrading has accelerated significantly.In this background,it is necessary to analyze the innovation efficiency based on the development status of the steel industry,which has important theoretical and practical significance for promoting the transformation and upgrading of China's steel industry under the new normal and improving the innovation capacity of steel companies.This dissertation first introduces a systematic analysis framework for the evaluation of innovation efficiency of listed steel companies from a theoretical level.Through combing and analyzing relevant literature,this dissertation mainly evaluates the innovation efficiency of China's listed steel companies from three aspects: innovation static efficiency,innovation dynamic efficiency and innovation two-stage efficiency.In the evaluation of the static efficiency of innovation,this dissertation introduces the technology gap theory to consider the differences in production technology of listed steel companies in different regions.In order to break through the limitation of innovation static efficiency that can not make vertical dynamic comparison of innovation efficiency in multiple periods of a single decision-making unit,this dissertation selects the evaluation method of innovation dynamic efficiency(innovation total factor productivity)based on total factor productivity theory,which changes the innovation efficiency of listed steel companies' trend analysis.In order to dig deeper into the internal operation mechanism of the innovation process,this dissertation subdivides the innovation process of listed steel companies into two stages: scientific research and development and achievement transformation based on the innovation value chain theory.This article also considers the sharing of innovation investment in the two stages of the two-stage innovation efficiency evaluation.Secondly,Based on the technology gap theory,this dissertation evaluates the static innovation efficiency of listed steel companies in China by constructed a group frontier and common frontier DEA model.The results show that:(1)Although the innovation efficiency of listed steel companies has improved in recent years,the overall level is low.Pure technology efficiency and low scale efficiency are the common reasons,among which pure technology efficiency has a more significant impact.The innovation efficiency of listed steel companies in the eastern,central and western regions decreased in turn,and there was a small gap between the innovation efficiency of listed steel companies in the central and western regions.(2)The innovation efficiency values of listed steel companies under the common frontier are all less than the efficiency values under the group frontier,because the common frontier contains the nationally optimal technical level,while the group frontier only includes the best technical level in a certain region.The technology gap between listed steel companies in the eastern,central and western regions is mainly in the range of 0.05 to 0.3,and the technological gap between the eastern region and the central and western regions is gradually shrinking.(3)There are differences in the causes of the loss of innovation efficiency of listed steel companies in different regions.The low level of corporate management has become a major factor in the loss of innovation efficiency of listed steel companies in the eastern region.However,the efficiency loss of listed steel companies in central and western regions is subject to the combined effects of production technology gaps and inefficient management.Thirdly,based on a dynamic perspective,this dissertation uses the DEA-Malmquist index model to measure the innovation total factor productivity(TFP)of listed steel companies in China,and tests the convergence of innovation TFP in different regions and different ownership systems.The research shows that:(1)The overall innovation TFP of listed steel companies only showed a weak growth trend during the inspection period.Technological progress is the main factor driving the growth of innovative TFP in listed steel companies,but the pulling effect is not significant.The decrease in the growth rate of technological efficiency has a restraining effect on the improvement of innovative TFP.(2)From the results of dynamic innovation efficiency in different regions,the innovation TFP index is highest in the central region,second in the eastern region,and lowest in the western region.From the results of dynamic innovation efficiency of different ownership systems,the innovation TFP index of state-owned steel listed companies is higher than that of non-state-owned steel listed companies.(3)From the convergence results of innovative TFP in different regions,except for the eastern region,there is absolute convergence in the country and the central and western regions,and there are significant conditions ? convergence in the country and the three major regions.Among them,human capital is the conditional convergence factor of the country and the central and western regions,and the degree of opening up is the conditional convergence factor of the central and western regions,while the industrial structure only leads to the conditional convergence of the eastern region.From the results of convergence of different ownerships,neither state-owned nor non-state-owned steel listed companies showed significant absolute ? convergence,but non-state-owned steel listed companies had significant absolute ? convergence.In terms of condition ? convergence,both state-owned and non-state-owned steel listed companies have shown significant convergence characteristics.Finally,this dissertation combines the two-stage sharing of innovation value chain theory and innovation input to construct a two-stage DEA innovation efficiency measurement model that is related to shared inputs.This dissertation uses the degree of coupling to conduct an empirical analysis of the coordination and coordination of the two-stage innovation.The results show that:(1)The overall innovation efficiency of listed steel companies in China is at a relatively low level,and they still have not escaped from the extensive production model.The low efficiency of scientific and technological research and development and achievement transformation is a common factor restricting the improvement of innovation efficiency of listed steel enterprises.(2)Listed steel companies belonging to low-tech R & D and low-conversion transformation enterprises accounted for approximately 15.4% of the total(the same proportion as high-tech R&D and high-conversion transformation steel enterprises).The number of iron and steel enterprises with high-tech R&D and low-conversion types is the largest(about 46.1%).In addition,23.1% of iron and steel enterprises are low-tech R & D and high-performance transformation.(3)This dissertation considers the two stages of innovation as an innovation system consisting of three subsystems: innovation input,intermediate output,and economic output.During the review period,the overall innovation system of China's listed steel companies was at a low-level coordinated development stage,and there was still a large gap from the benign coordinated and coupled development stage.The type of coupling and coordination of China's steel listed companies is mainly low-level coordination,and the number of medium and high-level listed steel companies is not large.In the future,it is necessary to strengthen the optimization of the coupling and coordination of innovation input-intermediate output-economic output system.