Factor Market Distortion And Innovation Efficiency

In recent years,the high-tech industry has introduced advanced production technology both at home and abroad,persevere in self-renovation on this basis,and input more and more resource on innovative production activities,production capacity is gradually improving.However,if the high-tech industry wants to achieve sustained and stable development,not only rely on the increase of R&D investment,but also avoid the loss of innovative efficiency in the process of innovation,pay attention to the improvement of innovation efficiency.The acceleration of China's market process has brought a lot of benefits,but the drawbacks of this process must not be ignored,factor market distortions are serious in China.As the platform for the flow and allocation of innovation resources,the degree of factor market distortion will produce the most direct impact on the innovation efficiency level.Therefore,the relationship between factor market distortion and innovation efficiency has become an important research direction.Previous scholars have been pay attention to the relationship between factor market distortion and employment,export,investment,enterprise R&D input and so on,and pay little attention to the efficiency of innovation.Until recently,some scholars began to study the relationship between factor market distortion and innovation efficiency.But their research still sees innovative production activities as a whole.In fact,the innovation activities of enterprises is a complex and dynamic process.Which can be divided into two stages,research and transformation of economic gain.At the same time,different enterprise resource are not the same,innovation efficiency is also very different,and it is necessary to discuss the role of enterprise characteristics in the relationship between factor market distortion and innovation efficiency.Therefore,in this paper,we choose the data of China's high-tech industry in the past 2008-2015 years taken as the research samples,based on the two-stage innovation value chain perspective,using the SBM super-efficiency DEA model to construct the measurement model of innovation efficiency,the research on the innovation efficiency is divided into two stages of research and transformation of economic gain,analyzes the relationship between factors market distortion and innovation efficiency.At the same time,research the moderating effect of enterprise characteristics on the relationship between factor market distortion and innovation efficiency,aiming at providing reference for the improvement of enterprise innovation efficiency.The conclusions are as follows:(1)During the period of investigation,the overall innovation efficiency and the two stage innovation efficiency of China's high-tech industryare not high,and the innovation efficiency of different regions and different stages are obviously different.From the point of view of average efficiency,the efficiency of the eastern region is significantly higher than that of the central and western regions.(2)The factor market distortion is negatively related to the overall innovation efficiency and the two stage innovation efficiency,the distortion of the factor market influence the improvement of innovation efficiency.(3)Enterprise performance,enterprise research input and enterprise extroversion play a positive moderating role in the relationship between factor market distortion and overall innovation efficiency and research stage innovation efficiency,and enterprise size has no significant influence on the relationship between factor market distortion and overall innovation efficiency and research stage innovation efficiency.(4)Enterprise performance play a positive moderating role in the relationship between factor market distortion and transformation of economic gain stage innovation efficiency,and enterprise size,enterprise research input and enterprise extroversion has no significant influence on the relationship between factor market distortion and transformation of economic gain stage innovation efficiency.