Research On The Impact Of Enterprise Human Capital Investment On Innovation Output

As the backbone and main source of promoting technological progress and innovation development in China,enterprises need to understand innovation activities more accurately,formulate innovation plans in more detail,analyze the deepest reasons affecting innovation output,and then take the path of innovation development more firmly.As a strategic resource in the process of enterprise innovation development,human capital will have a direct impact on the effectiveness of innovation activities.Based on the existing relevant literature at home and abroad,this paper summarizes the relevant concepts and theoretical foundations of corporate human capital investment and innovation output by combing and summarizing,and makes a detailed theoretical analysis on how corporate human capital investment affects innovation output.Enterprise human capital can influence innovation output through dynamic mechanism,resource integration mechanism and substitution mechanism.Specifically,human capital investment can enhance the value of human capital,promote the growth of knowledge and technology,improve cognitive ability,promote the efficient allocation of resources,and provide continuous intelligent resources for innovative output.Taking into account the one-year lag period,this paper constructed the Cobb-Douglas production factor model.Establish an enterprise human capital investment evaluation system from the four dimensions of education and training investment,technology development investment,salary and welfare investment and social security investment.Themeasurement indicators of innovation output include the number of patent applications and enterprise performance,and select the enterprise size and enterprise age.Control variables.Using the relevant panel data of Shenzhen-Shanghai A-share listed companies from 2014 to 2018,empirically study the impact of human capital investment on innovation output at the enterprise level.Through descriptive statistical analysis,multiple collinearity analysis,multiple regression analysis and robustness test and other research methods,the empirical test of the impact of corporate human capital investment on innovation output.Through the analysis of empirical results,it is found that corporate human capital investment has a significant impact on the number of patent applications and corporate performance.Compared with corporate performance,the impact of corporate human capital investment on the number of patent applications is more significant.The size of an enterprise has a significant positive impact on the number of patent applications and a significant negative impact on corporate performance.The age of the company has a significant negative impact on the number of patent applications,but the impact on the performance of the company has not passed the significance test.Based on the above analysis,the article proposes countermeasures and suggestions for corporate human capital investment to promote innovation output from the following four aspects.One is to establish a scientific strategic concept of human capital investment to promote innovative output;the second is to improve the relevant system of human capital investment to promote innovative output;the third is to improve the management mechanism of human capital investment that iscompatible with the innovative output;the fourth is to create Human capital investment promotes a cultural atmosphere of innovative output.Finally,based on the previous theoretical analysis and empirical results,this paper concludes the research conclusion of this article,points out the shortcomings,and prospects for future research.