Research On The Influence Mechanism Of Corporate Technological Innovation Capability Based On Political Connections

Since China's reform and opening up,the economy has maintained sustained and rapid growth for more than 30 years.However,after experiencing the global economic crisis and years of rapid growth,China's economy has entered a "new normal period." During the new normal period,China's economy was changed to innovation-driven model.As a pioneer in the realization of the national innovation strategy layout team,high-tech industrial enterprises,if they can further optimize their technological innovation capabilities,will help drive overall economic and social progress.At the same time,combined with China's current social situation,the government still has a major impact on the economic development of enterprises,political connections are common in enterprises,and its impact on corporate innovation activities is difficult to ignore.The research on political connections and enterprise innovation has always been a controversial research field.Based on the existing research,scholars have different opinions on the relationship between political connections and enterprise innovation-the support effect and the curse effect.Therefore,it is still necessary to deeply analyze the influence of political connections on corporate innovation in the new normal period.This paper uses microcosmic data of enterprises in China's high-tech industry from 2012 to 2017,and uses the Stochastic Frontier Analysis(SFA)measuring technical efficiency as a dependent variable to measure technological innovation capability;comprehensively uses the Hierarchy Regression Analysis method and the Qualitative Comparative Analysis method(QCA)to comprehensively examine the influence mechanism of political connections on the technological innovation capability of enterprises and seek effective ways to improve their technological innovation capabilities.The main contents of this paper are as follows:First,the presentation of the theoretical basis of the study.Based on the analysis of existing research results,this paper summarizes the relevant theories and methods of corporate political connections and technological innovation analysis.It includes upper echelons theory,social capital theory,resource-based view,Stochastic Frontier Analysis,Hierarchy Regression Analysis and Qualitative Comparative Analysis.This section clarifies the theoretical framework of the research content.Second,the evaluation of enterprise technology innovation capability.After analyzing and comparing the technological innovation ability substitution indicators of predecessors,this paper chooses to use the Stochastic Frontier Analysis(SFA)to measure the technical efficiency of enterprises,and evaluate the technological innovation ability of enterprises.In addition,through the overall mean analysis and systematic cluster analysis of the technical efficiency of enterprises,it describes the current situation of innovation efficiency of high-tech industry enterprises.Third,the research on the impact of political connections on the technological innovation capabilities of enterprises.This paper takes the scale of the enterprise,the nature of property rights and the degree of marketization as the moderating variables.By using the Stochastic Frontier Analysis to measure the efficiency of enterprise technology innovation as an indicator of technological innovation ability and using the Hierarchy Regression Analysis,thispaper finds that:(1)the breadth and depth of political connections have a significant role in promoting the technological innovation capability of enterprises,and the breadth and depth of political connections can be discussed independently;(2)when the scale of the enterprise is used as a moderating variable,it has a significant negative moderating effect on the breadth of political connections and technological innovation ability,and has a significant positive moderating effect on the depth of political connections and technological innovation ability;(3)when enterprises are non-state-owned property rights,the influence of the breadth and depth of political connections on technological innovation capabilities will be significantly strengthened.When enterprises are state-owned property rights,the influence of the breadth and depth of political connections on technological innovation capabilities will be significantly weakened;(4)the degree of marketization has a negative moderating effect on the breadth of political connections and technological innovation ability,but the moderating effect on the relationship between the depth of political connections and technological innovation efficiency is not significant.Fourth,the identification of the enterprise technology innovation capability optimization path.Based on the results of the Hierarchy Regression Analysis,this paper takes political connections,the scale of the enterprise,the nature of property rights and the degree of marketization as the preconditions,and uses the fuzzy set Qualitative Comparative Analysis method to identify the optimization mechanism of enterprise technology innovation ability based on political connections: breadth-oriented mechanisms,depth-oriented mechanisms,scale-oriented mechanisms,connections-constrained mechanisms,and scale-constrained mechanisms.Fifth,the countermeasures for improving the technological innovation capability of enterprises.According to the results of the Hierarchy Regression Analysis and five kinds of optimization mechanisms for enterprise technology innovation capability,this paper proposes countermeasures for enterprises and governments to optimize enterprises technological innovation ability and rationally construct political connections from the perspective of political connection and non-political factors.