【作者】 周晓霞；

【导师】 周夏飞；

【作者基本信息】 浙江大学 ， 金融学， 2019， 硕士

【摘要】 在高科技产业中,创新早已成为企业取得竞争优势的必备条件,但在新科技知识越趋复杂、产品生命周期逐渐缩短、产品价格迅速下降以及创新周期加速等压力下,企业需要不断投入相关资源以持续从事创新活动并从中获利。创新能力除了可以通过内部研发投入及人力资本累积以外,也可通过与外部研发合作、技术合作来累积,向外寻找具有价值的新知识新技术。企业通过与其他企业合作可接近相关新技术新知识,除了可以减少自行开发新技术的成本、时间及风险,也可发展出符合市场需求产品并将其成功投入市场,因此与合作伙伴合作已成为企业创新过程中重要的投入。本文将创新分为创新投入与创新产出,主要研究内部创新投入、外部创新投入以及创新产出三个因素对企业绩效造成的影响。本文首先汇集近几年我国上市半导体公司创新投入、创新产出及企业绩效的数据,再计算出创新投入及创新产出每三年的平均数据及企业绩效每两年的平均数据来建立本研究的数据库,并将创新投入的递延效果纳入考虑因素。本研究发现企业内、外部创新投入会提升创新能力,其中,人力资本增加会增加创新产出数量及质量,而与其他企业的研发合作及技术合作会增加创新产出质量;如果企业同时兼顾内部与外部创新投入会增加创新产出价值;在开放式创新商业模式中,企业不再只是偏重内部创新投入,外部创新投入也很重要。本研究发现过多内部创新投入一开始会使得企业投入资金过多导致企业的绩效下降,之后由于企业创新产出的增加会使得企业的绩效上升,同时本文也发现创新产出质量的增加会显著提升企业绩效。因此企业在从事创新活动过程中,不仅要关注创新产出数量,更要获得创新产出质量以提升企业绩效。更多还原

【Abstract】 In the high-tech industry,innovation has long been a prerequisite for enterprises to achieve competitive advantage.However,under the pressure of the increasingly complex process of innovation and the development of new scientific and technological knowledge,the shortening of product life cycle,the rapid decline of product prices and the acceleration of innovation,enterprises still need to continue to invest relevant resources to engage in innovation activities,and In addition to the accumulation of internal R&D investment and human capital,innovation capability can also be accumulated through cooperation with external R&D and technical cooperation to find out valuable new knowledge and new technology.Cooperation with other enterprises can access relevant new technology knowledge resources,in addition to reducing the cost of self-development of new technology.Time and risk,and can develop products in line with market demand and successfully lead them into the market,cooperation with partners has become an important input in the process of enterprise innovation.This paper divides innovation process into innovation input and innovation output.The research content is to explore the impact of internal innovation input,external innovation input and innovation output on enterprise value.Firstly,this paper collects the data of innovation input,innovation output and enterprise value of listed industrial machinery companies in recent five years,then calculates the average data of innovation input and innovation output every three years and the average data of enterprise value every two years,establishes the database of this study,and takes the deferred effect of innovation input into account.This study finds that the innovation input inside and outside enterprises will enhance the innovation ability,among which,the increase of human capital will increase the quantity and quality of innovation output,while R&D cooperation and technical cooperation with other enterprises will increase the quality of innovation output;if enterprises take both internal and external innovation input into account,the quality of innovation output will increase;In the open innovation business model,the emphasis is no longer only on external innovation investment,but also on internal innovation investment.This study finds that too much innovation output will reduce the value of enterprises at first,and then increase the value of enterprises because of the increase of enterprise innovation.At the same time,this paper also finds that the increase of innovation output quality will significantly enhance the value of enterprises.In the process of innovative activities,enterprises should not only create innovative value,but also acquire innovative value to enhance enterprise value.更多还原