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Analysis of innovation efficiency and influencing factors of listed companies in Beijing-Tianjin-Hebei economic zone based on improved DEA

Author

Listed:
  • Shuangao Wang

    (Beijing Academy of Science and Technology, China)

  • Shiyun Zhang

    (Beijing Academy of Science and Technology, China)

  • Guiquan Xi

    (Beijing Academy of Science and Technology, China)

  • Michael C. S. Wong

    (City University of Hong Kong, Hong Kong)

Abstract

This study investigates the innovation efficiency of listed companies in the Beijing-Tianjin-Hebei region from 2015 to 2021. Various models are applied to analyze the data and identify factors affecting innovation efficiency. The findings show that, after adjusting the data, most listed companies' scale efficiency decreases significantly. Pure technical efficiency also decreases, but not to a substantial degree. These changes lead to an overestimation of innovation efficiency. The analysis reveals that the business environment influences the innovation index of listed companies. Additionally, there is a positive relationship between enterprise nature, equity concentration, urban financial expenditure, and innovation efficiency. Longer-established companies face challenges in improving their innovation efficiency. Most companies demonstrate improvements in technical efficiency, indicating relatively high levels of technical efficiency. However, continuous technological progress is crucial. The paper suggests that policymakers and company management should prioritize the enterprise's nature, equity concentration, and urban financial expenditure to cultivate innovation efficiency.

Suggested Citation

  • Shuangao Wang & Shiyun Zhang & Guiquan Xi & Michael C. S. Wong, 2024. "Analysis of innovation efficiency and influencing factors of listed companies in Beijing-Tianjin-Hebei economic zone based on improved DEA," Insights into Regional Development, VsI Entrepreneurship and Sustainability Center, vol. 6(2), pages 24-47, June.
    • Handle: RePEc:ssi:jouird:v:6:y:2024:i:2:p:24-47
    DOI: 10.9770/IRD.2024.6.2(2)
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    More about this item

    Keywords

    innovation efficiency; DEA-BBC model; Tobit model; Malmquist Index (MI);
    All these keywords.

    JEL classification:

    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • C24 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Truncated and Censored Models; Switching Regression Models; Threshold Regression Models
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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