Research On The Technology Innovation Efficiency Of Low Cost High-tech Enterprises

High-tech enterprises are strategic guide of national economy and play an important role inpromoting the change of economic development mode as well as the adjustment of industrial structure.Nowadays the innovation strength of China’s high-tech enterprises are gradually strengthens and thestructure is gradually optimization thus the international standards of high-tech enterprises areimproving. However, the main industry of national high-tech enterprises is processing and assembly.The products of these enterprises are low value-added as well as the innovation ability. The profitscome from cheap labor cost and the development mode of high-tech enterprises still is the low costmode. With the development of the world economy, all kinds of raw materials costs rise, and the lowvalue-added, high energy consumption economic development mode has not adapted to thedevelopment trend. High-tech enterprises of China are confronted with great challenges. How to adaptto the global competition environment and the transformation of development mode have become theurgent problems to be solved at present as well as helping the low cost enterprises fining newdevelopment challenges.The paper studies the current technological innovation efficiency of low-cost high-techenterprises relies on a city’s data samples of high-tech enterprises in2011. Using factor analysismethod, the paper identified78low-cost high-tech enterprises from a sample of200enterprises fromthree dimensions. The three dimensions are asset turnover, profitable rate and efficiency.Then, the paper makes the78identified low-cost high-tech enterprises as the research object andcalculates the value of the innovation efficiency of these enterprises. Basing on the research data, thepaper analyses the innovation situation of these enterprises. The paper selects technological funds, thenumber of technological personals, the effective numbers patents and sales of new products fourindicators from two aspects of innovation input and output as the basis for calculating innovationefficiency. In order to make results more reliable, this paper both uses stochastic frontier approach anddata envelopment analysis to calculate the innovation efficiency of low cost high-tech enterprises.Then by comparing the results, we conclude that the results obtained with both methods are basicallythe same. There are innovations in low cost and high-tech enterprises and some of them reach a highinnovation efficiency level. The contribution of labor is greater than that of capital for innovationefficiency. But in the overall, the innovation efficiency of low cost enterprises is low and need to beimproved. The contribution of labor is greater than that of capital for innovation efficiency. The mainreason that the innovation efficiency is low is because the lack of technological innovation. Finally, the paper analyses the affecting factors of innovation from two aspects of macro andmicro in theory. Using the DEA-Tobit regression model, the paper analyses the influencing factors ofinnovation efficiency from an empirical point of view and verify the final factors that determines thevalue of technological innovation efficiency We get the conclude that the scale of the enterprises, thequality of labors, the management of enterprises all have a positive effect on the efficiency ofenterprises. The support from government and preferential tax policy don’t have positive effect on theinnovation efficiency.