Research On Technological Innovation Efficiency And Performance Relationship Of High-end Equipment Manufacturing Enterprises

High-end equipment manufacturing industry is one of the seven strategic emerging industries in China,which is characterized by high and new technology and at the core of the value chain and the industrial chain.High-end equipment manufacturing industry determines the comprehensive competitiveness of the whole industry chain.It is the backbone of modern industrial system and the engine that promotes industrial transformation and upgrading.Technological innovation is the development motive force of high-end equipment manufacturing industry.In order to improve the core competitiveness of China's industry,it is necessary to break through the bottleneck of innovation efficiency of high-end equipment manufacturing.Therefore,it is of great realistic significance to study the innovation activities of high-end equipment manufacturing enterprises,evaluate their technological innovation efficiency and break through the bottleneck of innovation development,and have important practical significance for the development of high-end equipment manufacturing industry in China.This paper does literature research about related works on assessment of technological innovation efficiency in the similar industry,and then explores the innovation mechanism of high-end equipment manufacturing enterprises.With the Stochastic Frontier Production Function,based on the panel data of 101 China's high-end equipment manufacturing industry enterprises from 2012 to 2015,by building a system of input-output indicators which reflect respective characteristics of innovation knowledge output phase and innovation business transformation phase.In the first stage,this article applies the stochastic frontier modelbased on the two-stage trans-log production function(two-stage SFA)with considering three innovative delays,and stimates China's high-end equipment manufacturing industry enterprises' two-phase technological innovation efficiency,and analyzes the influence of non-efficiency key factors.On the basis of the first stage results,the second stage establishes the panel data model,then tests the relationship between the knowledge generation efficiency and economic performance of the technological innovation of high-end equipment manufacturing enterprises,and finally puts forward the corresponding policy suggestions.The main conclusions obtained in this paper are as follows:(1)High-end equipment manufacturing enterprise's technology innovation activity has periodic,innovation efficiency value of the two phases is different,changing trend also have differences,therefore,establish a high-end equipment manufacturing enterprises of two stage innovation mechanism is necessary.The efficiency value of the technology innovation knowledge generation stage is between 0.25 and 0.32,and it is decreasing year by year in the sample period.The efficiency value of the technological innovation business transformation stage is between 0.28 and 0.33,and it is increasing year by year.The knowledge output stage has a slight negative effect on the business transformation stage,and the negative effect is alleviated over time.(2)In the five secondary subdivisions,in the stage of innovation knowledge output,the aviation equipment industry has the highest technological innovation efficiency,followed by the satellite industry,and finally the intelligent equipment manufacturing industry.In the stage of innovative business transformation,the most efficient technology innovation is the rail transit equipment manufacturing industry,the lowest is the satellite industry.The average R&D efficiency of high-end equipment manufacturing industry is not high,but it maintains a steady growth trend.(3)At different stages of technological innovation in high-end equipment manufacturing enterprises,different innovation resources(capital and manpower)have different output contribution,but all play a positive positive role.Moreover,the innovation resources from input to output measurement,there is an average of more than 1 year lag.(4)The enterprise technical behavior,the main characteristic of the enterprise and the external environment of the enterprise play an inconsistent role in the technological innovation efficiency of the two stages.R&D capital investment has accumulated effect,which needs to be invested continuously every year,while the proportion of R&D personnel and other resources is maladjusted,which has played a minor negative role.The efficiency of technological innovation has scale effect,which increases with the increase of enterprise scale.In the stage of innovation knowledge output,the technological innovation efficiency of state-owned enterprises is lower than that of private enterprises;The ownership concentration has a significant positive influence;The support of the government has played an effective role in promoting the two stages of innovation.The "crowding out effect" of government funds has been shown only in the stage of commercial transformation and without delay.(5)The knowledge output efficiency of enterprise technology innovation has obvious promoting effect on enterprise economic performance,but this kind of promotion relationship gradually decreases with time.It indicates that it is necessary for enterprise innovation activities to continue and innovation resources to continue to invest.