Research On The Relationship Between Intellectual Capital,Technological Innovation Input And Enterprise Performance

Under the environment of slowing global economic growth and innovation leading development,China also attaches great importance to the importance of innovation and has formed a pattern of innovation driven by entrepreneurship,making innovation a reality in the whole society.China's "13th Five-Year Plan" in 2016 pointed out that innovation must be placed at the core of the country's overall development,implementing an innovation-driven development strategy,putting the development base on innovation,taking science and technology innovation as the core,and supporting talent development as a support.At the same time,create a good industrial development environment.In a government report made at the Fourth Session of the 12 th National People's Congress held on March 5,2018,Premier Li Keqiang pointed out that the intangible resources of "innovation" and "reform" are the key factors for enterprises to enhance their innovation capabilities.It can be seen that manpower is one of the key elements of development and innovation.Creating a good atmosphere for innovation and the environment cannot be ignored.Therefore,investment in intellectual capital is necessary because enterprises can effectively use the intellectual capital to maintain the existing Skills,knowledge and efficient organizational structure,maintain the existing stable market competitive position,continue to profit,and be able to innovate in the face of dramatic changes in the external environment,improve the ability of enterprises to cope with economic environmental uncertainty.Based on this,this paper studies the impact of intellectual capital—human capital,structural capital and relational capital on firm performance—and uses technological innovation as a bridge between intellectual capital and firm performance,and explores the mediating role of technological innovation input.This paper firstly combs and summarizes the relevant literatures of intellectual capital meaning,development process,basic elements and technological innovation input;then elaborates on the relevant theories of intellectual capital,technological innovation investment and enterprise performance,and puts forward on the basis of theoretical analysis.The research hypothesis of this paper is followed.Secondly,the data of listed companies in high-tech industry in 2013-2017 are selected and compiled,the data is filtered,the data with ineffectiveness and abnormality are removed,and the data is described by Stata13.0.Sex statistics,regression analysis,mediation effect test and stability test,the following hypotheses are verified in this study: First,whether human capital,structural capital and relational capital in the three dimensions of intellectual capital generate financial performance and market performance respectively Significant positive impact;Second,whether the three dimensions of intellectual capital can enhance the impact on corporate financial performance and corporate market performance through intermediary innovations.Through Stata regression analysis,it is found that human capital and relational capital in intellectual capital have a positive impact on the financial performance and market performance of high-tech enterprises,while structural capital has a positive impact on corporate financial performance and has no correlation with corporate market performance.Relationship;through the mediation effect test,it is found that the investment in technological innovation only plays a mediating role in the relationship between human capital and firm performance,and the relationship between structural capital and corporate financial performance.Based on the above research findings,this study proposes the following recommendations: high-tech enterprises must not only respect knowledge,establish a sound human capital management system,maximize the utilization of human resources and improve the financial performance and market performance of enterprises,but also pay attention to organizational management processes.Optimize the organizational management structure,consciously shape the corporate culture that promotes the atmosphere of innovation,strengthen the knowledge integration ability of the organization to enhance the creativity of employees,and ultimately maximize the benefits of the enterprise;at the same time,the expansion of the relationship capital should not be neglected,and the relationship capital investment should be increased.To help companies form a supplier relationship that adapts to new product development and new product sales,and enhance the performance of the company through the realization of the market value of innovative products.We should also actively increase investment in technological innovation.Enterprises need funds.Similarly,in addition to the efforts of innovative talents,enterprise innovation requires investment in innovative funds to promote the transformation of intellectual capital and to exert technological innovation in intellectual capital and enterprises.