Research On The Relationship Between Firm Performance Gap And Innovation Activities

The report of the 19 th CPC National Congress pointed out that innovation is the first driving force leading development and the strategic support for the construction of a modern economic system.We will deepen the reform of the science and technology system and establish a technological innovation system in which enterprises are the main body,market-oriented,and industry-university-research deeply integrated ".The manufacturing industry is the pillar industry of our country's economic growth.The industrial protective foreign trade policy,the relatively cheap labor force and the huge domestic demand are the important bases for the establishment of the competitive advantage of our country's manufacturing industry.However,China's manufacturing industry is in the middle and lower end of the world manufacturing industry chain because of the serious homogeneous competition,the low brand share of enterprises in the market and so on,which makes China's manufacturing industry in the middle and lower end of the world manufacturing industry chain.From As far as the development trend of global manufacturing industry is concerned,scale economy and scope economy have lost their competitive advantage in the competition.At the present stage,the economic development of our country is in the period of relative policy,digestion and absorption.It is facing the problems of economic downlink,lack of domestic demand,environmental pollution,overcapacity and so on.It is urgent to adjust the economic structure.The performance expectation gap caused by performance change is an inevitable problem for enterprises during the transition period.In recent years,the economic growth rate of our country has slowed down,and for the enterprise performance problem during the transition period,More scholars have expressed concern about the possible decline in the performance of enterprises,and believe that the decline in corporate performance will make the enterprise tight Retrenchment of finance and thus contraction of innovative activities.Based on this,the following four aspects of research are carried out in this thesis:(1)the historical expectation deficit of enterprises and the influence of trade expectation deficit on enterprise innovation are discussed respectively,and the comparative analysis of survival pressure and competition pressure is carried out,and the comparison between survival pressure and competition pressure is discussed through comparative analysis.What kind of pressure to the enterprise innovation behavior influence is more obvious;(2)whether theinnovation efficiency of the expected surplus enterprises is different from that of the expected deficit enterprises;(3)whether the innovation output has an impact on the subsequent enterprise performance and whether the recovery of the enterprise can be realized;(4)the regulation mechanism of the openness and ownership of CEO is studied.The purpose is to understand the change of manufacturing performance in China during the transition period.The influence mechanism of the movement and the performance change to the enterprise innovation.It is the innovation of this thesis to study the reverse effect of innovation and performance,to combine the expected deficit and expected surplus,especially the comparative difference,and to introduce the openness of CEO into the model as a regulating variable.On the basis of combing the domestic and foreign documents,this thesis introduces the openness of CEO and the nature of ownership into the model,and selects the A-shares of Shanghai Stock Exchange and A-share main Board of Shenzhen Stock Exchange from 2010 to 2014 as the research samples.An empirical study is carried out,and relevant conclusions are drawn.The results show that:(1)comparing with "self of the past" and when enterprises feel the pressure from within the industry,the deficit is expected to promote the innovation behavior of enterprises;(2)when there is a comparative difference in the enterprise,the industry expectation gap is more stimulating to the innovation behavior of the enterprise;(3)the performance expectation is inverse.The innovation output rate of the poor enterprise is higher than the expected surplus enterprise,and the innovation output has the promotion function to the subsequent enterprise performance;(4)when an enterprise produces an expected deficit,CEO with high openness has a strong regulatory effect on the innovation behavior of the enterprise,which is more significant when there is a trade deficit.(5)it is easier for non-state-owned enterprises to innovate when the expected deficit occurs.Based on the conclusion of the study,this thesis points out that there is no need to worry about the decline of enterprises' performance during the transition period,and the transition period is an opportunity for enterprises to carry out innovation activities.In the search mode of "problem",enterprises should connect with the market on the demand side,make full use of mass entrepreneurship and innovation platform and network platform,and actively implement innovation drive;In the process of cultivating and selecting decision-makers,the decision-makers with high degree of openness should be chosen as far as possible to promotethe enterprise to have a better development,which is also an effective means to realize the enterprise's "poor thinking" and "raising vigilance".At present,it is necessary to further study and improve the innovation mechanism of state-owned enterprises,improve the mode of investment in innovation of state-owned enterprises,strengthen supervision and management,stimulate the innovation potential of large state-owned enterprises,and improve their ability to innovate.At the same time,in the period of transition,National policies should address Non-state-owned enterprises implement corresponding financial support policies,so that non-state-owned enterprises can have more financial support and better carry out innovative activities.