Management Efficiency, Quality Innovationand Total Factor Productivity

After the economic development experienced a period of rapid growth,China's economic development has gradually entered a period of major transformation,from the average high-speed growth of more than 10% in the past to the medium-speed growth below double digits,indicating that China's economic development model has emerged.Significant changes,innovation and technological progress have gradually become the fundamental way to promote the transformation of economic growth mode.Especially since the party's 18 th National Congress clearly stated that “scientific and technological innovation is the strategic support for improving social productivity and overall national strength,and must be placed at the core position of the overall development of the country”,the state emphasizes that it must adhere to the road of independent innovation with Chinese characteristics and implement innovation-driven development.strategy.In the 2019 government work report,it also mentioned that "insist on innovation to lead development,foster new and dynamic kinetic energy.Give play to the comprehensive advantages of China's abundant human resources and huge domestic market,reform and innovation of scientific and technological research and development and industrialization application mechanism,and vigorously cultivate professionalism and promote The old and new kinetic energy will continue to be transformed.” Emphasizing that we must adhere to the road of independent innovation with Chinese characteristics and implement the strategy of innovation-driven development,which makes the element-driven development model at the expense of environmental pollution damage and natural resource consumption unsustainable,and quality innovation as The important content of supply-side innovation has become a new kinetic energy to lead economic development.More and more scholars have found that in addition to factors such as human capital and technological innovation,a large part of economic growth still cannot be explained,and as the availability of data collection increases,more literature finds: The heterogeneity of the company in terms of management efficiency and management characteristics will cause the company to show differences in output performance such as innovation and productivity,and further affect the overall productivity growth of the society.Therefore,this paper innovatively chooses the perspective of management efficiency,and based on the perspective of quality innovation,it analyzes the problem of enterprise performance growth with total factor productivity as the proxy variable.For the first time,the Chinese employer-employee survey(CEES)used the internationally recognized Standardized World Management Survey(WMS)questionnaire to collect data on the management efficiency of 1,084 Chinese companies,making it possible to study the management efficiency of Chinese companies.The problem becomes possible.Based on CEES data,this paper conducts an empirical study on the impact of management efficiency on firm performance.Firstly,this paper uses the WMS questionnaire to measure the management efficiency of enterprises in 2010 and 2015,and uses the LP method to measure the total factor productivity of enterprises.Through the benchmark OLS regression,For every 1% increase in corporate management efficiency,the company's total factor productivity level will increase by about 1.00% to 1.75%.After further large-scale,robust empirical research using the processing effect model,the results still show that the effect of management efficiency on total factor productivity is statistically positive at least 1% significance level,and the impact coefficient is 9.317.On this basis,in order to further explore the possible influence path of management efficiency on enterprise performance,this paper introduces the concept of quality innovation.Under the premise of fully considering the control variables,empirical evidence shows that quality innovation is an important factor to improve corporate performance.It is tested whether the enterprise applies for patents,whether it conducts R&D investment,whether new products are introduced,and the frequency of R&D exchanges of enterprises as the proxy variable of quality innovation.It is found that management efficiency can positively impact enterprise performance through quality innovation.In summary,this paper not only finds that management efficiency is an important factor to promote the growth of total factor productivity from an empirical perspective.In addition,it also finds that management efficiency can play a role in total factor productivity through quality innovation.This enriches the relevant research on the growth of total factor productivity from the perspective of management efficiency and the realistic path to promote corporate performance.