Research On The Impact Of Innovation On The Performance Of High-tech Enterprises

In the high-tech industry,innovation has long been a prerequisite for enterprises to achieve competitive advantage.However,under the pressure of the increasingly complex process of innovation and the development of new scientific and technological knowledge,the shortening of product life cycle,the rapid decline of product prices and the acceleration of innovation,enterprises still need to continue to invest relevant resources to engage in innovation activities,and In addition to the accumulation of internal R&D investment and human capital,innovation capability can also be accumulated through cooperation with external R&D and technical cooperation to find out valuable new knowledge and new technology.Cooperation with other enterprises can access relevant new technology knowledge resources,in addition to reducing the cost of self-development of new technology.Time and risk,and can develop products in line with market demand and successfully lead them into the market,cooperation with partners has become an important input in the process of enterprise innovation.This paper divides innovation process into innovation input and innovation output.The research content is to explore the impact of internal innovation input,external innovation input and innovation output on enterprise value.Firstly,this paper collects the data of innovation input,innovation output and enterprise value of listed industrial machinery companies in recent five years,then calculates the average data of innovation input and innovation output every three years and the average data of enterprise value every two years,establishes the database of this study,and takes the deferred effect of innovation input into account.This study finds that the innovation input inside and outside enterprises will enhance the innovation ability,among which,the increase of human capital will increase the quantity and quality of innovation output,while R&D cooperation and technical cooperation with other enterprises will increase the quality of innovation output;if enterprises take both internal and external innovation input into account,the quality of innovation output will increase;In the open innovation business model,the emphasis is no longer only on external innovation investment,but also on internal innovation investment.This study finds that too much innovation output will reduce the value of enterprises at first,and then increase the value of enterprises because of the increase of enterprise innovation.At the same time,this paper also finds that the increase of innovation output quality will significantly enhance the value of enterprises.In the process of innovative activities,enterprises should not only create innovative value,but also acquire innovative value to enhance enterprise value.