Research On The Effect Of Business Environment On Technology Innovation-The Mediating Role Of Entrenreneurship

In the process of China’s transformation and development from "Made in China" to " Smart manufacturing in China" and "Created in China",the contribution rate of technological innovation to economic growth is increasing day by day,becoming an important support for China’s modern economic system,and adding new momentum and advantages to the optimization and upgrading of China’s industrial structure.As an important factor affecting technological innovation,the business environment has received great attention from the academic community in recent years.However,existing research has not yet opened the "black box" of the path mechanism for the business environment to affect technological innovation.At the same time,the current phenomenon of China’s innovation "card neck" is more prominent,and the existing research on business environment and technological innovation pays more attention to the number of innovations,ignoring the quality of innovation that is more closely related to "key technologies".In this context,this paper introduces the analytical perspective of entrepreneurship,trying to open the black box of the path of business environment and technological innovation.Through sorting out the relevant literature and basic theories,this paper analyzes the mechanism of the business environment affecting technological innovation,constructs the analytical framework of "business environment-entrepreneurship-technological innovation",and conducts empirical tests,specifically,this paper selects provincial data from 29 provinces in China from2009 to 2018,based on international experience and China’s national conditions,we will build a business environment measurement index with "Chinese characteristics";based on the characteristics of the times of the new normal of China’s economy,the level of technological innovation is described from the perspectives of innovation quantity and innovation quality;based on the panel fixed effect model,the overall business environment and its four dimensions of technological innovation promotion effect are studied,and the intermediary effect model is constructed with entrepreneurship as the intermediary variable to explore the influence mechanism of the business environment on the quantity and quality of technological innovation.The results show that:(1)The optimization of business environment has had a significant positive effect on China’s technological innovation,but its effect is more on the supply of capital than the supply of institutions.Among the institutional factors,the impact of efficient and clean government environment on technological innovation is more obvious.(2)Entrepreneurship is an important intermediary variable between business environment and technological innovation.The factors of business environment and the incentive structure of the spirit of innovation and entrepreneurial spirit have heterogeneity to the influence of technological innovation.(3)The role of "explicit incentive" in business environment is obvious,but endoexcitation is insufficient;Whether it is the business environment or entrepreneurship,the problem of "emphasizing entrepreneurship over innovation" is still more prominent.(4)Whether it is the quantity of innovation or the quality of innovation,the business environment is more manifested in the supply of funds and the supply of government environment,indicating that in the Chinese scenario,technological innovation relies more on the "visible hand" than the "invisible hand".The research conclusions of this paper can provide policy enlightenment for continuously optimizing the business environment,stimulating entrepreneurship,and promoting technological innovation,and believe that China’s optimization of the business environment in the new era needs to be organically combined with the cultivation and stimulation of entrepreneurship,in order to maximize the level of technological innovation and promote high-quality economic development.