Study On The Innovation Efficiency Of High-tech Industry In China Based On Innovation Value Chain

The 21 st century is the era of knowledge economy. Because of its feature of knowledge-intensive, technology-intensive and high value-added, high-tech industry plays an important role in national economic development. Promote the rapid development of high-tech industry will help enhance the comprehensive strength and international competitiveness of our country. Research and innovation has always been seen as the driving force of the rapid development of high-tech industries. The efficiency of innovation activity will directly affect the development of high-tech industries.Before the empirical research, based on the summary of the relevant literature about innovation efficiency of the high-tech industry and the innovation theory of high-tech industry, this paper evaluates the efficiency of China’s high-tech innovation activities. Before the evaluation, the innovation activities are divided into two stages according to the theory of innovation value chain. They are R&D and technology transfer. The paper select the input and output indicators combined with industry characteristics. This paper evaluates the whole efficiency and the stage efficiency from the point of the regional level and industry level. The result shows that the level of the efficiency of innovation activities is adapt to local economy development. At the industry level, the efficiency of Electronics industry is higher than other industries.The paper chooses the degree of government support, financial environment, R&D investment, human capital, technology acquisition fund investment, Openness and the scale as the factors which affect the efficiency of high-tech innovation activities. The empirical result shows that, at the regional level, the scale of production has a negative impact on the R&D efficiency. At the industry level, the production scale has a negative impact on the overall efficiency and transfer efficiency of innovation, the human capital has a negative impact on the R&D efficiency.Through this study also found that to evaluate the efficiency of China’s high-tech industry innovation and influencing factors on the two-stage perspective could be more precise. It makes the result more useful. And it is helpful to make targeted recommendations to accelerate the development of high-tech industry.