Research On The Impact Of Knowledge Capital On Total Factor Productivity In The Marine Shipping Industr

As a strategic industry in China,the marine shipping industry can provide transportation tools for energy,and can also support national defense construction and national defense security.China is a major shipbuilding country,and compared with other shipbuilding powers,there is still a big gap in the fields of high-tech and high-value-added ships.In the face of the new market situation,China needs to accelerate the transformation and upgrading of the shipbuilding industry,improve the technical level and core competitiveness,and promote the shipbuilding industry to move from a high-speed growth stage to a high-quality development stage.As a carrier of technological progress,intellectual capital can promote the efficiency of the marine ship industry by optimizing the allocation of resources and improving the efficiency level of enterprises.Due to the development of new economic geography and spatial econometrics,the knowledge spillover effect has been widely concerned,and the research on the impact of knowledge spillover on total factor productivity focuses on industrial,regional and international perspectives,and pays less attention to the total factor productivity of enterprises.Due to the long cycle and high risk of the marine industry,enterprises cannot predict the final outcome and need to seek external resource support,and government subsidies play an important role in it.Therefore,studying the impact of knowledge capital spillover and government subsidies on the total factor productivity of listed enterprises in the marine shipbuilding industry is not only a deepening of the theoretical research on economic growth,but also meets the current practical requirements for promoting the high-quality development of the marine economy.The main research contents of this paper are as follows:(1)Theoretical analysis.Through the combing of existing literature,the concepts of intellectual capital,government subsidies and total factor productivity of the marine ship industry are defined,the theoretical analysis framework of this paper is established,and possible hypotheses are proposed.(2)Empirical analysis.First,human capital,innovation capital,structural capital and relationship capital are measured using the entropy weight method with time variables,and the total factor productivity of 151 listed companies in the marine shipping industry from 2010 to 2021 was measured using the Levinsohn-Petrin(LP)method;Second,spatial correlation analysis is carried out,and the impact of different dimensions of knowledge capital and its spillover effect on total factor productivity of marine ship industry is empirically analyzed by using the spatial Dubin model.Third,government subsidies are added as regulating variables to empirically demonstrate the moderating effect of government subsidies on the relationship between different dimensions of intellectual capital and total factor productivity.(3)Conclusions and recommendations.The empirical results are summarized,and countermeasures and suggestions are put forward for the improvement of total factor productivity in the marine ship industry.The results show that:(1)During the sample period,except for structural capital,the level of intellectual capital of listed enterprises in the marine shipbuilding industry showed an upward trend,and structural capital showed a downward trend,and among all dimensions of intellectual capital,innovative capital grew the fastest.(2)During the sample period,the total factor productivity of the marine ship industry showed a growth trend,but the growth rate was slow.(3)There are differences in the impact of knowledge capital on total factor productivity in various dimensions of listed companies in the marine shipping industry,among which human capital and innovation capital and their spillover will significantly promote the improvement of total factor productivity,and structural capital inhibits the total factor productivity of the marine shipping industry,and there are differences in the impact on state-owned enterprises and non-state-owned enterprises.(4)Government subsidies have different regulating effects on different dimensions of intellectual capital,and government subsidies significantly enhance the impact of human capital,innovation capital and relationship capital on total factor productivity,and significantly weaken the impact of structural capital on total factor productivity.Based on this,the following suggestions are put forward: enterprises should attach importance to innovation capabilities,increase investment in R&D,and improve independent innovation capabilities;Pay attention to the cultivation of talents,increase policies to attract talents,and drive the rational allocation of other factor resources with talents;Improve the internal structure,clarify internal powers and responsibilities,and improve employee enthusiasm;Strengthen cooperation and exchanges with homogeneous enterprises.