【摘要】 专精特新“小巨人”企业是推动产业基础高级化、产业链现代化的重要力量，其经营效率直接关系到新质生产力的培育与制造强国战略的实施。以2019—2024年上市的专精特新“小巨人”企业为研究对象，系统测度其静态与动态经营效率及影响因素。研究发现，“小巨人”企业经营效率整体偏低，且存在行业和区域的异质性；全要素生产率呈阶段性下滑趋势，技术进步成为效率提升的核心瓶颈；多数企业存在研发投入结构性冗余、销售管理成本管控粗放、资产周转效率偏低、专利转化率不足等矛盾；企业年龄、资产规模及区域市场化程度对效率具有显著正向影响，而政府补助呈现负向效应。更多还原

【Abstract】 Specialized and Sophisticated “Little Giant” firms serve as a vital force in advancing industrial foundation upgrading and industrial chain modernization, where their operational efficiency is directly linked to the cultivation of new quality productive forces and the implementation of the manufacturing powerhouse strategy. Using listed Specialized and Sophisticated “Little Giant”firms from 2019 to 2024 as the research sample, this study systematically measured their static and dynamic operational efficiency as well as influencing factors. The results indicated that, the overall operational efficiency of Specialized and Sophisticated “Little Giant”firms remained low, exhibiting significant heterogeneity across industries and regions. Total factor productivity showed a phased downward trend, with technological progress becoming the core bottleneck restricting efficiency improvement. Most companies faced developmental contradictions, including structural redundancy in R&D investment, extensive control over sales and management costs,low asset turnover efficiency, and insufficient patent conversion rates. Furthermore, enterprise age, asset scale, and regional marketization degree had a significant positive impact on efficiency, whereas government subsidies exhibited a negative effect.更多还原