JOURNAL OF BEIJING UNIVERSITY OF AERONAUTICS AND A ›› 2019, Vol. 32 ›› Issue (4): 66-71,86.DOI: 10.13766/j.bhsk.1008-2204.2017.0096

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Technology Innovation and Business Performance: An Empirical Study on China's GEM Listed Companies

CHEN Xiangdong1, WANG Fei1, WANG Wei2   

  1. 1. School of Economics and Management, Beijing University of Aeronautics and Astronautics, Beijing 100083, China;
    2. Institute of Computing Technology Chinese Academy of Sciences, Beijing 100190, China
  • Received:2017-04-17 Online:2019-07-25 Published:2019-09-06


The use of technology innovation to drive economic development and serve the transformation and upgrading of the real economy has become one of the core strategies of China's economic development. Most of the GEM listed companies are technology-oriented enterprises, in need of technological innovation to constantly upgrade the enterprise's products and services. Therefore, this paper uses the business data of the GEM listed companies in China, and applies Cobb-douglas production function and stochastic frontier analysis (SFA) to study the relationship of business performance and two factors-technology innovation input and efficiency respectively. Moreover, this paper analyzes the change trend of the innovation efficiency and the innovation efficiency of each industry. The study has shown that the technology innovation input of the GEM listed companies has positive correlation with technology innovation input and efficiency. Furthermore, technology innovation efficiency increases constantly. Energy conservation & environment protection and electrical equipment rank the top in innovation efficiency among industries.

Key words: GEM listed companies, technology innovation input, innovation efficiency, business performance, stochastic frontier analysis(SFA)

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