Research on the impact of innovation investment on operating efficiency of listed forest product processing companies

Purpose - The forest products processing industry is a key component of the forestry economy, and the level of companies’ operating efficiency directly affects its profitability and market competitiveness. Design/methodology/approach - In order to deeply study the operation status of forest product processing industry, this paper takes the panel data of 70 listed forest product processing companies from 2015 to 2022 as the basis, and adopts BBC, CCR and DEA-Malmquist models to measure the operating efficiency of these companies. Meanwhile, the Tobit model is applied to deeply explore the impact of innovation input on operating efficiency. Findings - The results of the paper show that: (1) the overall operating efficiency of listed forest product processing companies performs well, and the improvement of technology level promotes the growth of total factor productivity; (2) innovation input plays a significant positive role in listed forest product processing companies, which positively affects the operating efficiency. Practical implications - A scientific and reasonable evaluation of the operating efficiency of listed forest product companies is of great practical significance to the development of the forestry industry The study of forest product processing industry is of key significance to the social economy. Originality/value - This paper explores the improvement of production and operation efficiency of forest products processing enterprises for the purpose of in-depth analysis of the current situation of China's forest products processing enterprises, which is conducive to improving the innovation and operation efficiency of China's forest products processing enterprises, and realizing the high-quality development of China's forest products processing industry.