Research On The Impact Of Technological Innovation On Value Capture In Industry Chain

China has gradually entered the stage of innovation-driven development,technological innovation has become the fundamental driving force for Chinese industrial upgrading.It is generally believed that for countries with emerging markets such as China,the role of technological innovation in industrial upgrading is that enterprises will climb to the mid-to-high end of the industrial chain through innovation.However,in recent years,people have found that although some industries in Chinese manufacturing industry have achieved the goal of climbing to the high end of the industrial chain through their own innovation,their profitability has not been substantially improved.This requires a new perspective to study the relationship between technological innovation and industrial upgrading.Based on the new perspective of innovation's value creation-capture attribute,this paper studies the impact of technological innovation on value capture in the industrial chain based on the world input-output tables and other data,trying to reveal technological innovation from a new perspective.The main findings of the relationship between industrial upgrading are as follows:First of all,technological innovation has two attributes,namely value creation attribute and value capture attribute.From the sample selected in this paper,there is no strict positive correlation between innovation ability and value capture ability.When an industry has high industrial concentration and vertical specialization level in its sector,even if the industry creates less value through innovation,it also captures a relatively high level of value across the entire industry chain.Second,the industry R&D intensity of Chinese manufacturing has a positive effect on value capture,and this effect has become more pronounced over time.From the perspective of the innovation gap,as the innovation capability of Chinese manufacturing industry gradually approaches the international leading level,its value capture capability will gradually increase.Finally,although the technological complexity of Chinese manufacturing innovation has improved,it is not enough to have a positive impact on the value capture capability of Chinese manufacturing industry in the short term.However,in the long run,the increase in technological complexity is beneficial to value capture.Chinese manufacturing needs to constantly improve its technological complexity to capture more value.This study re-examines the impact of technological innovation on industrial upgrading from the perspective of value capture,reveals the determinants and mechanisms of value capture of technological innovation in the industrial chain,Under the background of Chinese manufacturing industry facing an urgent industrial upgrading,it provides a theoretical basis for Chinese manufacturing enterprises to choose appropriate technological innovation strategies for industrial upgrading.