Research On Technological Innovation Ability And Innovation Performance Of Listed Companies In High-end Equipment Manufacturing Industry

In the wave of the fourth industrial revolution,global manufacturing is undergoing tremendous changes.To promote the high-end equipment manufacturing industry which represent the emerging strategic industries by innovation are the inevitable choice for the transformation of China from a "manufacturing power" to a"manufacturing power".Therefore,the enhancement of technological innovation capability of enterprises through innovation and investment is an inevitable choice for high-end equipment manufacturing enterprises to achieve leap-forward development,and is the foundation for the company to occupy the market and increase operating performance.Combing the existing literatures,I found that there are few researches on the emerging strategic field of high-end equipment manufacturing,and related researches are still relatively lacking in selecting methods and indicators suitable for evaluating technological innovation capability and innovation performance.In the past,most of the studies on the indicators of technological innovation capability and innovation performance of enterprises have been measured from the perspective of questionnaires,which have certain limitations on the convenience of universality and objectivity.This paper selects listed companies in the high-end equipment manufacturing industry as research objects,and selects scientific and objective indicators to build an index system for high-tech equipment manufacturing technology innovation capability and innovation performance.In addition,in the study of the relationship between technological innovation capabilities and innovation performance,this article further studies how the factors affecting technological innovation capabilities influence innovation performance.The paper combines with the characteristics of high-end equipment manufacturing enterprises' technological innovations,then establishes an evaluation index system for high-tech equipment manufacturing companies' technological innovation capabilities and innovation performance.The indicators of technological innovation capacity mainly start with the two first-level indicators of R&D investment and external support capabilities.They are subdivided into scientific research personnel input intensity,research fund input intensity,and personnel quality;government subsidy strength and financial support intensity.Then through the data obtained from the annual reports of listed companies,the factor analysis method is used to evaluate the technological innovation ability and innovation performance,and the public factors of technological innovation capability and public factors of innovation performance are extracted,that is,R&D input factor,external support factor,and profit Ability factor,development ability factor.Then the paper uses correlation analysis and regression analysis method to study the relationship between technological innovation ability and innovation performance based on the factor analysis of the public index factor.The empirical results show that there is a significant positive correlation between technological innovation ability and innovation performance;there is a significant positive correlation between performance and R&D capacity.there is a significant positive correlation between R&D capacity and development capacity,a significant positive correlation between R&D capacity and profitability,a significant positive correlation between external support capacity and innovation performance,and a significant positive correlation between external support capacity and profitability.There is a positive correlation between support capacity and development capacity,but it is not important.Finally,according to the results of empirical analysis and the analysis of the status of high-end equipment manufacturing industry,the paper proposes measures from four aspects to promote the technological innovation capability of high-end equipment manufacturing enterprises:talented person,R&D investment,government,and financial policy support.