Research On The Relation Between Enterprise Innovation And Performance Under Mixed Ownership Reform

Since the Third Plenary Session of the Eleventh Central Committee,China has carried out reform centered on economic construction.Then in November 2013,the Third Plenary Session of the Eighteenth Central Committee of the Communist Party of China clearly put forward the reform of mixed ownership,requiring the active development of mixed ownership economy.At present,China's economic development is in the new normal stage,and the overall economic operation is developing steadily and making progress steadily.In such a stage,innovation has been placed at the core of the overall national development.In innovation-driven development,mixed ownership enterprises occupy a pivotal position.How to give full play to the innovative ability of enterprises to achieve higher corporate performance has become a hot topic again.The times are different.Under the background of the new normal times,it will have more practical significance to study the object,measures and strength of the new round of mixed ownership reform.Therefore,in this paper,the research on the theory of mixed ownership reform will better use the achievements of the previous academic circles and take the existing research results and methods at home and abroad as the reference.Based on the hot and difficult points of the new round of mixed ownership reform,this paper studies the relationship between the mixed ownership reform and enterprise innovation ability and enterprise performance.Using new research to carry on and inherit the previous research,in order to increase the research content of the new round of mixed ownership reform,to promote the academic theory and achievements to keep pace with the times,and constantly develop and improve.This paper attempts to provide new governance ideas and reference reform programs for enterprises that are going on and preparing for the reform of mixed ownership,promote the modernization of corporate governance,and provide policy suggestions for the next round of mixed ownership reform.It has strong practical reference significance in improving the R&D level and independent innovation ability of enterprises under the reform of mixed ownership in China.Through the comprehensive application of literature analysis,descriptive statistics and multiple regression analysis,this paper mainly studies how mixed ownership reform affects enterprise innovation,and then studies the relationship between enterprise innovation and enterprise performance under mixed ownership reform.By using the method of literature review,combing the existing research results and combining the related theories of mixed ownership reform,enterprise innovation and enterprise performance,this paper theoretically analyses the relationship between enterprise innovation and enterprise performance under mixed ownership reform.In the empirical analysis,taking the data of A-share state-owned enterprises listed in Shanghai and Shenzhen Stock Exchange of China from 2013 to 2017 as samples,this paper uses descriptive statistical analysis and multiple regression analysis to test the relationship between enterprise innovation and enterprise performance,and the relationship between mixed ownership reform and enterprise innovation and enterprise performance.Some policy suggestions are put forward to improve the innovation ability and performance of enterprises.From the analysis of the results of the study,the following conclusions can be drawn: Firstly,there is a negative correlation between innovation investment and enterprise performance.Empirical results show that R&D expenditure and corporate performance are significantly negative,that is to say,the increase of R&D expenditure restrains the improvement of corporate performance to a certain extent.Second,there is a positive correlation between innovation output and firm performance.The relationship between the number of patents and the performance of enterprises in the next phase is not significant,but there is a significant positive correlation between the number of patents and the performance of enterprises in the next two and three phases.This shows that the innovation output of enterprises has a positive impact and contribution on the overall performance of enterprises,and this impact and contribution can be reflected in the next two to three years.Thirdly,there is a positive correlation between mixed ownership reform and corporate performance.The results show that enterprises with mixed ownership reform have a positive effect on innovation output,and this positive significance is better than those with non-mixed ownership reform.This paper is based on the previous research.There are the following innovations: First,on the research data,considering the process of mixed ownership reform,this paper selects the data of Shanghai and Shenzhen A-share listed companies from 2013 to 2017 for empirical research,which is representative and targeted.Secondly,on the research object,few literatures have studied the relationship between enterprise innovation and enterprise performance under the background of mixed ownership reform,enriching and developing the content of enterprise innovation and enterprise performance under the mixed ownership reform.Thirdly,from the perspective of enterprise innovation,considering the lag of enterprise innovation,this paper subdivides enterprise innovation into input and output of enterprise innovation,and introduces it into the model.Supported by theoretical analysis,this paper discusses the relationship between enterprise innovation and enterprise performance,supplements the existing research,and provides a reference for the related research on factors affecting enterprise performance.The shortcomings of this paper are as follows: firstly,in the process of data collection and collation,the missing enterprise data are deleted,so that the number of research samples is reduced,which may lead to inadequate data to a certain extent,resulting in certain errors in the research results.Secondly,this paper only carries out relevant research under the reform of mixed ownership.There are many factors affecting the innovation ability and performance of enterprises,and there may be checks and balances that are not considered comprehensively.This can also be a subject for follow-up research.