Research On The Impact Of Technology Investment Intensityon The Innovation Quality Of High-tech Manufacturing Firmsin China

The Global Innovation Index ranking can be used to measure the innovation capabilities of more than 120 economies around the world,which is the main benchmarking tool for global policy makers,business executives and others.As we can see from the global innovation index rankings in the period of 2015 to 2019,China has been steadily improving.As of 2018,the number of innovations in China has ranked first in the world,but its ranking has not yet squeezed into the top ten in the world.Science and technology are the primary productive force.As the main carrier of science and technology,high-tech firms play roles that cannot be ignored in improving China's innovation quality.High-tech manufacturing firms should keep up with the times and strive to promote their technological capabilities,with a view to gaining a place in a highly competitive market.With the development of information technology,it's conducive for high-tech manufacturing firms to grasp important technologies,put them into production,and improve their innovation quality.In the conclusions of current academic research,some scholars make a positive impact on technology investment,while other scholars draw the opposite conclusion.One of the reasons is that existing research pays less attention to the importance of enterprise R & D technology.Another important factor is the informal institutional environment.more and more scholars have proved and regarded culture as proxy indicators of informal institution.China is a multi-ethnic developing country.There exist significant cultural differences among regions.It is vital and interesting to take cultural values into consideration,as culture can subtly influence business managers' perception and decision-making behavior.It will be very interesting to think about adding cultural values to the research.The content of this paper is mainly divided into five parts.The first part expounds the urgency and necessity of the research on Chinese high-tech manufacturing firms' innovation quality.We analysize the current literatures on the factors of innovation quality and the role of technological investment intensity and regional informal institution.In addition,the feasibility and innovations in this research are analysized.The second part reviews the definition,classification,and related literatures of innovation quality and technology investment intensity,and summarizes the current research deficiencies.The third part reviews the innovation quality's and technology investment intensity's concepts and classifications,and the ones of regional informal institutions were introduced as follows.Then,it analyzes how two aspects of technological investment intensity affect innovation quality,and that how the two dimensions of regional informal institutions can adjust the effects above.Based on this,six research hypotheses are proposed.The fourth part explains why the 405 high-tech firms are chosen as research samples,and how to obtain and process the firm's and regional data.At the same time,it also clarifies the reason for the empirical analysis of the combination of fuzzy set qualitative comparative analysis(fsQCA)and structural equation model(SEM).After that,the hypotheses are tested and the results were summarized.The fifth part proposes the research conclusions and management inspiration with future research prospects as follows.From the perspective of innovation and attention-to-detail cultural values,the purpose of this study is to explore how regional informal institutions can adjust the technological investment intensity to the innovation quality of high-tech manufacturing firms' innovation quality.The results of the research demonstrate that: first,within a certain numerical range,the greater the intensity of technological R&D,the better the firms can achieve higher innovation quality.Specifically,the higher the technology importance score,the greater the probability that the technology R&D intensity score will be higher.The moderating effect of regional informal institutions between technological R&D and innovation quality is not significant.Second,the intensity of technology purchase cannot affect the firm's innovation quality.Attention-to-detail cultural values can significantly adjust the inverse U shape between technology purchases intensity and innovation quality.Third,this paper proposes regional informal institutional difference and finds out that when a firm purchases a small number of technologies,it will inhibit the positive effects of a small number of technology purchases on the quality of innovation,and also alleviate the negative effects of a large number of technology purchases.The results of this research not only provide suggestions for high-tech manufacturing companies in cultivating and guiding the cultural values of decision-makers,but also give suggestions on the location of their branches for their own development.For the local government,according to the development status of local high-tech manufacturing firms,it can guide the development of regional cultural values in a direction that is conducive to improving the quality of innovation.