The Impact Of Technological Innovation On The Performance Of GuangDong Manufacturing Companies

Manufacturing industry is the important pillar of economic development in Guangdong,which has provided important economic foundation and guarantee for the development of Guangdong economic and social undertakings.In the fierce competition environment,technological innovation is valued.There are also many researches on the relationship between technological innovation and enterprise operation performance.In theory,technological innovation can promote sustained economic growth,and promote the industrial transformation and upgrading of manufacturing industry.However,it remains to be seen whether technological innovation can actually promote the improvement of performance of manufacturing enterprises.In addition,the current research on the impact of technological innovation on the performance of manufacturing business is mostly using statistical measurement research method.,which not paying much attention to economic mechanism.Based on this,this paper takes Guangong manufacturing as the research object,to analyze the influence of technological innovation on Guangdong manufacturing industry and provide advice to manufacturers in Guangdong province.First of all,on the basis of theory and related literature,this paper tries to analyze the mechanism of the effect of technological innovation on the performance of Guangdong manufacturing enterprises.Technology innovation expand sales and lower production cost by create new products,better production process,and human capital effect,which may raise profits.Secondly,on the basis of Tienan Wang(2012)on the regression model of technological innovation and business performance,this paper selects the data of Guangdong manufacturing listed companies from 2013 to 2017 as the research samples and build a panel data model to analyzes.The conclusion is that technological innovation can promote the performance of Guangdong manufacturing listed companies,and R & D input has a positive impact on the total assets yield and earnings per share of Guangdong manufacturing listed companies.Finally,according to the above analysis and empirical results,this paper puts forward some suggestions to improve Guangdong listed manufacturing companies: the listed companies in Guangdong should not only increase their R & D investment,but improve the efficiency of innovation and adjust enterprise capital structure.