中国半导体产业技术创新效率评价研究——来自A股上市公司的经验证据

Research on evaluation of the technological innovation efficiency of the semiconductor industry in China:Some empirical evidence from A-share listed companies

当前严峻的国际竞争格局使得中国半导体产业面临前所未有的挑战,提升其技术创新效率成为各界专家学者讨论的焦点。本文基于2019—2022年中国半导体产业76家上市公司技术创新投入和产出的相关数据,将半导体产业链上市公司分为设计、制造、封测、设备和材料5个环节,运用BCC-DEA和Malmquist-DEA模型对半导体产业整体以及产业链各环节的技术创新效率进行了静态、动态评价以及投入冗余分析。研究发现:(1)从静态视角来看,中国半导体产业整体技术创新效率不高,纯技术效率虽在提高,但DEA有效的企业数量呈下降趋势,总数不及1/5,设计、设备和材料环节技术创新效率的平均值高于行业平均水平,制造和封测环节的技术创新效率较为薄弱;(2)从动态视角来看,中国半导体产业Malmquist生产率变化波动较大,整体技术创新效率呈下降趋势,制造和封测环节的技术创新效率呈增长趋势,设计、设备、材料环节的技术创新效率呈下降趋势;(3)从投入冗余来看,研发人员和固定资产投入冗余情况较为突出,研发费用投入冗余不显著。本文补充了半导体产业技术创新的定量研究,并进一步拓展了其研究视角,为优化半导体产业资源配置、提升技术创新效率提供切实可行的实证依据与政策建议。

The current severe international competition pattern has made China′s semiconductor industry face unprecedented challenges,and improving its technological innovation efficiency has become the focus of discussion by experts and scholars from all walks of life.Based on the relevant data of technological innovation input and output of 76 listed enterprises in China′s semiconductor industry from 2019 to 2022,this paper classified the listed companies in the semiconductor industry into five links:design,fabricate,assembly and test,equipment and materials,and used the BCC-DEA and Malmquist-DEA models to conduct a static and dynamic evaluation analysis and investment redundancy analysis of the technological innovation efficiency of the whole industry and all links of the industrial chain.The results showed that:(1)From the static perspective,the overall technological innovation efficiency of listed enterprises in China′s semiconductor industry is not high.Although pure technical efficiency is improving,the number of DEA effective enterprises is declining,less than 1/5 of the total.The average value of technological innovation efficiency in design,equipment and materials is higher than the industry average,and the technological innovation efficiency in fabricate and assembly and test is relatively weak.(2)From the perspective of dynamics,the total factor productivity of China′s semiconductor industry fluctuates greatly and the overall technological innovation efficiency shows a downward trend,while that of fabrication and assembly and test shows an overall growth trend,and that of design,equipment and materials show a downward trend.(3)From the perspective of investment redundancy,the redundancy of R&D personnel and fixed assets investment is more prominent,and that of R&D expenditure is not significant.This paper will supplement the quantitative research on technological innovation in the semiconductor industry,further expand its research perspective,and provide practical empirical basis and policy recommendations for optimizing resource allocation in the semiconductor industry and improving the efficiency of technological innovation.