Research On The Impact Of Innovation Input And Operational Risk On Enterprise Performance

With the economic development of various countries,international economic competition is becoming more and more fierce,and China's economy is seeking development in stability.At present,in order to enhance the comprehensive national strength,China pays more and more attention to scientific and technological innovation and vigorously promotes innovation and development.The Nineteenth National Congress of the Party pointed out that innovation is the first driving force leading development.As the main economic carrier of our country,the improvement of enterprises' innovation ability is helpful to the improvement of our country's economic level.Small and medium-sized enterprises(SMEs)account for the vast majority of China's market and are potential stocks for economic market development.There are more and more innovative activities of small and medium-sized enterprises in our country,but enterprises should pay more attention to the actual situation of their own business risks while increasing their investment in innovation,and blindly raising the business risks will affect the development of the company.Therefore,while paying attention to the investment in innovation and the performance of enterprises,they should also have a better understanding of their own level of business risks.This paper will study the impact of innovative investment and operational risk on SMEs' performance,which will help SMEs to improve their competitiveness while controlling their own risks and improve their performance more effectively.The research method of this paper mainly adopts the form of combining normative research with empirical research,taking the listed companies of small and medium-sized boards as the research object,and exploring the correlation between innovation investment and business risk on enterprise performance.There are six parts in this paper: the first part is the introduction,which mainly includes research background and significance,concept definition,literature review and research ideas and methods;the second part is the theoretical basis,namely,technology innovation theory,business risk theory,enterprise competitiveness theory and signal transmission theory;the third part is the theoretical analysis of the impact of innovation investment and business risk on enterprise performance.Chapter IV puts forward hypothesis and design model;Chapter V is empirical analysis.This paper chooses 3341 observation values of SME listed companies from 2013 to 2017 as samples to study,and draws the following conclusions:(1)the increase of innovation input of SME listed companies can effectively improve enterprise performance,and has lagging effect on enterprise performance;(2)SME listed companies' operational risk and enterprise performance.Performance is negatively correlated;(3)Operational risk has a negative moderating effect on the relationship between lagging one-stage innovation investment and enterprise performance,which is more significant in non-state-owned enterprises after further research.This paper theoretically expounds the impact of innovation investment and operational risk on the performance of SME listed companies,and provides theoretical guidance for improving the performance of SME listed companies and promoting the long-term development of enterprises.Practically,it provides a feasible scheme for the innovation investment intensity and operational risk level of SME board listed companies in China.At the same time,the research results provide policy support for relevant government departments.