| With the globalization of Knowledge-based Economy, market competition is ushered into the forward position of the development of productive forces, such as innovation of knowledge and technology. Enterprises come to realize that their competitive edge no longer lies in occupation and development of resources but in those of knowledge, science, technology, high-tech incorporeal property and intelligence resources, namely enterprises'ability of technology innovation, and high-tech industries is a high R&D investment and large proportion of R&D personnel industry, manufacturers invest heavily on technology innovation. So, it is significant to have the study of the impact between the investment and the output in the technology innovation of the high-tech industries.By using the data of high-tech industry enterprises in provinces and cities of China, based on a mass of literature review, we get the input-output model through C-D Production function, and then we study the impact between the investment and the output from Financing resource and Expenditure. There are two empirical part.Part one, the paper study the impact between the financing resource and the output of technology innovation.Firstly, study the effect of government funds, enterprise R&D investment and loans from financial institutions on the output by regions. secondly, study the impact between the financing resource and the output by R&D intensity.The main empirical findings are following: whether we study it by regions or R&D intensity, all of government funds and enterprise R&D investment have stimulated effect on the output of technology innovation significantly, and government funds has stronger effects than enterprise R&D investment; generally, loans from financial institutions has not significant stimulated effect on the output of technology innovation, maybe which related to the big fluctuation of loan volumes.Part two, the paper study impact between the technology innovation pattern and the output of technology innovation.Firstly, study the effect of the innovation on one's own, mitative innovation, technology outsourcing and alliance on the outputs. secondly, make the cointegration analysis of the innovation on one's own and the technology imports.The main empirical findings are following: the innovation on one's own, the technology imports and alliance can promote the output of technology innovation, and the innovation on one's own is the most significant one,but technology outsourcing has not significant effect on the output; there is a long run equilibrium relationship between the technology imports and the innovation on one's own, and the change of the innovation on one's own is the reason for the change of the technology imports in 1 year's lag, but they don't come into positive circle orbit, so, in order to make the innovation on one's own and the technology imports into integrating, we must establish the concept of open innovation, which mainly depends on the innovation on one's own, and also makes full use of advanced resources of external to imitative innovation. |
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