Research On The Relationship Between Technology Innovation Capability And Growth For Gem Board Enterprises

The world’s countries will promote scientific and technological progress andtechnological innovation as the main driving force of economic development. Thedevelopment of high and new technology enterprises in China leaps and bounds, Alarge number of enterprises represented by technology innovation has become animportant factor in the development of the national economy in our country, Since2009, the first28companies focused on the Shen Zhen stock exchange board GEM,By the end of2012, the number of companies had reached more than three hundred. Soare these enterprise’s innovation ability and growth related? If they are related thenwhat about the relation and the relation level? In this paper, on the existing researchresults, by adopting the combination of normative research and empirical researchmethod, collecting and sorting the GEM companies from2010to2012three years ofenterprise data, Using statistical analysis software to study the relationship of theenterprise s’innovation ability index and the growth.Based on operating profit margin, return on equity, earnings per share, tobinQ value, revenue growth and operating profit growth six financial indicators, Throughprincipal component analysis to quantify the GEM company’s growth. Divided into theprofit factor and growth factor as two dependent variable, Finally it is concluded thatcomprehensive growth factor GR as the empirical research on the dependent variable.In addition, by collating the GEM of the company’s annual report data, Selectedrespectively in nearly three years of R&D spending accounts for the proportion ofrevenue each year, Bachelor degree or above staff ratio and Technical personnelproportion of the enterprise’s innovation ability as the empirical research of theindependent variable. Through the empirical research of correlation analysis and linearregression analysis, from the perspective of different studies the relation betweeninnovation and growth. Through the analysis of previous results put forward in thispaper, we study related hypothesis, and associated with the assumption of the empiricalmodel is established. First of all, with three years of2010-2010annual innovation ability and the empirical research of correlation between growth,then GR2012comprehensive growth factor as a benchmark, study the research and developmentintensity, the proportions of the technical personnel and bachelor degree or abovepersonnel from three aspects of index research correlation and linear regressionrelation from2010to2012.The results prove that: three indicators of the Innovation ability are growing, eachyear nearly three years of R&D spending accounts for the proportion of revenue withno significant correlation between the growth of enterprises., but it may have acertain time lag effect. Bachelor degree or above, the proportion of employees andenterprises growth. Technical personnel ratio associated with the growth of enterprises,finally based on the empirical results put forward the constructive Suggestions.