An Empirical Study On The Impact Of Performance Growth On Corporate’s Technological Innovation

At present,China is in the transition period from traditional factor driven to innovation driven economic development.The "14th five year plan" once again raises the importance of innovation to a new level.As the main body of technological innovation,corporate can not be ignored for the overall innovation strength of the country.Therefore,It is particularly important to study how to promote corporate technological innovation under the background of innovation driven development.Taking China’s A-share listed companies from 2008 to 2019 as the research sample,this paper empirically studies the impact of corporate performance growth on technological innovation,and specifically analyzes the impact of corporate performance growth on technological innovation under different property rights and market power regulation factors.The empirical results show that corporate performance growth plays a positive role in promoting technological innovation.It is further found that the performance growth of non-state-owned corporates plays a greater role in promoting technological innovation than that of state-owned corporates;The weaker the market power,the greater the role of corporate performance growth in promoting technological innovation.The research of this paper shows that the government should accelerate the market-oriented reform of state-owned corporates and improve the market sensitivity of state-owned corporates,so as to release the innovation vitality of state-owned corporates.In addition,the government can also avoid monopoly behavior by restraining corporates with strong market power and prevent them from ignoring technological innovation because they have competitive advantages,Thus,enhancing the willingness of corporates to carry out technological innovation will help to improve the overall level of technological innovation and implement the innovation driven development strategy.