The Relationship Between Management Power,Technological Innovation And Firm Performance

Domestically,along with our country economic development into the new normal,by high speed to the high speed economic growth,economic growth will be driven by elements to innovation-driven transformation,the pattern of economic development by the extensive economic growth into intensive economic growth,this series of changes to the development of private economy put forward higher requirements.At the international level,the world economy is still in a period of structural adjustment,trade protectionism is on the rise,global trade remains sluggish,and unstable factors such as'trade wars between China and the United States are on the rise.In the dual complex environment at home and abroad,the traditional development mode relying on low labor force,land and other factors of production has become unsustainable.If private enterprises want to improve their core competitiveness and seek long-term healthy development,they must constantly improve their own level of operation,technology and management.As an important way to improve enterprise performance and enhance core competitiveness,technological innovation is a problem that every private enterprise must attach great importance to.As the decision-makers and promoters of the enterprise,the management has absolute power and influence on when and how to carry out technological innovation.Based on the above background,this paper mainly investigates the relationship between management power,technological innovation and enterprise performance,and the moderating effect of business risk level on management power and technological innovation,and the moderating effect of product market competition level on technological innovation and enterprise performance.The following questions are mainly raised:1.Does the power of management affect the level of technological innovation?2.What is the impact of technological innovation on corporate performance?3.What is the role of business risk level in the correlation between management power and technological innovation?4.What is the role of product competition in the correlation between technological innovation and enterprise performance?In reference on the basis of predecessors' research results,this paper first to the management of power,technology innovation and enterprise performance,this paper involves the main key concepts are clearly defined,on the basis of combing the management power,the relation between technology innovation and enterprise performance,and operational risks,product market competition as a moderator variable literature both at home and abroad,and simply reviews the existing research.Then using principal component analysis and factor analysis to measure the management power management with the four dimensions of polymerization power index,build multivariate regression models of management power,the relationship between the technology innovation and enterprise performance,the empirical analysis,and the level of business risk management power,and the regulating effect of technology innovation,product,market competition between technological innovation and enterprise performance adjustment.Based on the data of 1995 private listed companies in four consecutive years,the empirical research results are as follows:(1)management power has a positive effect on enterprise performance.(2)management power plays a positive role in promoting technological innovation.(3)technological innovation has a positive effect on corporate performance.(4)technological innovation plays an intermediary role in the process of management power affecting enterprise performance.(5)management risk level and management power interact in the process of influencing technological innovation.Specifically,as the level of management risk increases,the positive influence of management power on technological innovation weakens.(6)the degree of product market competition and technological innovation interact with each other in the process of affecting enterprise performance.Specifically,as the degree of product market competition increases,the positive impact of technological innovation on enterprise performance will decrease.The above results verify the relationship between management power,technological innovation and enterprise performance,as well as the regulating role of internal and external environment.Based on the above research conclusions,this paper puts forward corresponding policy Suggestions from the five aspects of establishing a scientific performance evaluation system,optimizing the capital structure,enhancing the consciousness of innovation,respecting talents,and carefully studying the market.