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Research on Innovation Efficiency of Listed Companies in Development Zone Based on the Three-Stage DEA-Tobit Model: A Case Study of Hubei Province

Author

Listed:
  • Peng Xu
  • Fan Luo
  • Ziyue Zhang
  • Hongyi Xu

Abstract

This study applies 3-stage data envelopment (DEA) of 24 listed companies in the development zone of Hubei Province from 2012 to 2017 based on the panel data; we used the DEA-Tobit model and regression analysis method on the sample in order to measure the factors affecting the innovation efficiency of listed companies and the efficiency of corporate innovation. The results demonstrated that the innovation efficiency of listed companies in the development zone of Hubei Province is relatively low. It is necessary to improve the innovation system of the development zone and give the full initiative to the role of corporate innovation as a mainstay. The four environmental variables of the number of enterprises, government subsidies, foreign direct investment in the development zone, and fixed asset investment have a significant impact on innovation efficiency. The enterprise size, operating capacity, and state-owned shares of the company have a significant positive impact on the innovation efficiency. But the number of years of the establishment has a significant negative impact on innovation efficiency. Moreover, the quality of the workers is not significant. Therefore, we must increase government investment in innovation to expand the scale of listed companies in the development zone, improve the environment for foreign investment, further strengthen the construction of talented people of companies, and enhance the original ability of innovation.

Suggested Citation

  • Peng Xu & Fan Luo & Ziyue Zhang & Hongyi Xu, 2020. "Research on Innovation Efficiency of Listed Companies in Development Zone Based on the Three-Stage DEA-Tobit Model: A Case Study of Hubei Province," Discrete Dynamics in Nature and Society, Hindawi, vol. 2020, pages 1-12, July.
    • Handle: RePEc:hin:jnddns:1838469
    DOI: 10.1155/2020/1838469
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    Cited by:

    1. Zhang, Tinglong & Li, Sasa & Li, Yifan & Wang, Weizhong, 2023. "Evaluation of technology innovation efficiency for the listed NEV enterprises in China," Economic Analysis and Policy, Elsevier, vol. 80(C), pages 1445-1458.
    2. Bresciani, Stefano & Puertas, Rosa & Ferraris, Alberto & Santoro, Gabriele, 2021. "Innovation, environmental sustainability and economic development: DEA-Bootstrap and multilevel analysis to compare two regions," Technological Forecasting and Social Change, Elsevier, vol. 172(C).
    3. Puertas, Rosa & Carracedo, Patricia & Garcia−Mollá, Marta & Vega, Virginia, 2022. "Analysis of the determinants of market capitalisation: Innovation, climate change policies and business context," Technological Forecasting and Social Change, Elsevier, vol. 179(C).
    4. Siran Fang & Xiaoshan Xue & Ge Yin & Hong Fang & Jialin Li & Yongnian Zhang, 2020. "Evaluation and Improvement of Technological Innovation Efficiency of New Energy Vehicle Enterprises in China Based on DEA-Tobit Model," Sustainability, MDPI, vol. 12(18), pages 1-22, September.
    5. Alex Borodin & Irina Mityushina & Mustafa Harputlu & Natalia Kiseleva & Andrey Kulikov, 2023. "Factor Analysis of the Efficiency of Russian Oil and Gas Companies," International Journal of Energy Economics and Policy, Econjournals, vol. 13(1), pages 172-188, January.

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