| The regional economy is the epitome of the national economy and plays an important role in the national economic system.Coordinating regional development is the key to promoting the national economy.The regional economic development is inseparable from the innovation drive.The innovation activities will gather all kinds of resources such as talents,information and capital.The innovation output often directly determines the development level of the regional economy.As the core of regional innovation,regional enterprises are the direct implementers of innovation activities.The innovation efficiency of regional enterprises is an important manifestation of enterprise innovation ability and regional innovation level.Therefore,improving the innovation efficiency of regional enterprises plays an important role in regional economic development.Hubei Province is located in the Central China region and is located in the middle reaches of the Yangtze River.In recent years,the Hubei Provincial Government has attached great importance to the construction of regional innovation systems,continuously strengthened regional innovation support,and has given great support to regional enterprises in terms of innovation investment and policy support,and achieved certain results.However,the economic development of Hubei is still lagging behind in the economically developed areas along the eastern coast,and there is a big gap in the level of enterprise innovation.On the other hand,the temporary gap indicates that there is still much room for improvement in the innovation capability of Hubei.Therefore,it is necessary to combine the characteristics of Hubei region to find a suitable regional enterprise innovation development path,enhance regional innovation capability,and further promote the rapid and stable economic development of Hubei.Based on the research of related literatures,this paper selects the listed companies in Hubei Province as the research object of regional enterprises' innovation efficiency,using Data Envelopment Analysis,we first evaluated the overall level of innovation,then it compares and analyzes from three aspects: enterprise horizontal,enterprise nature and enterprise scale.Finally,the Malmquist index method is used to decompose the innovative state of the evaluated samples,in order to explore the overall status of innovation efficiency of enterprises in Hubei region and the difference in innovation efficiency among different enterprises.In addition,this paper uses the DEA-Tobit model to analyze the factors affecting the efficiency of enterprise innovation from three aspects of finance,management and market.Finally,based on the above empirical research results,the innovative development policy recommendations suitable for the characteristics of Hubei region are proposed.The results of the study show that the overall innovation efficiency of the Hubei region is maintained between 0.3-0.5,which is still at a relatively low level.Specifically,the pure technical efficiency is lower than the scale efficiency,so pure technical efficiency is the main factor that lowers the overall efficiency.The horizontal perspective of the enterprise shows that the enterprises with a comprehensive efficiency value of 1 in the five-year evaluation sample account for about 20% of the total sample,and there is still room for improvement.In addition,from the perspective of enterprise nature,the overall efficiency of state-owned enterprises is higher than that of private enterprises,indicating that state-owned enterprises have done a better job in the application and allocation of innovative resources,while private enterprises have certain room for improvement.From the perspective of enterprise scale,the innovation efficiency value of large enterprises is higher than that of small and medium-sized enterprises.In concrete terms,the scale efficiency trends of the two enterprises are similar.Therefore,SMEs need to increase investment in technological innovation to improve overall innovation efficiency.Finally,the Malmquist exponential decomposition results show that there are 16 companies with a total factor productivity greater than 1 in the sample being evaluated,which is in the state of technological progress,accounting for 59.3% of the total number of samples evaluated.It is indicated that a considerable number of enterprises in Hubei regional enterprises are still in a state of technological decline,and the overall state of innovation is at a medium level,which needs further improvement.The analysis of the influencing factors of regional enterprise innovation shows that financial factors and market factors have a positive impact on the innovation efficiency of enterprises,and the irrational structure of human resources is a hindrance to the improvement of innovation efficiency. |
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