上市公司科技创新能力及对公司市值影响研究——基于山东省上市公司统计数据分析

Research on the Technological Innovation Capabilities of Listed Companies and Their Impact on Company Market Value

以山东省上市公司为研究样本,通过筛选包括研发人员、研发费用等影响上市公司科技创新能力的关键指标,利用主成分分析法对上市公司的科技创新能力进行综合评价。在此基础之上利用分位数回归检验提升山东上市公司科技创新能力对公司市值的影响。研究发现,山东上市公司提升科技创新能力的关键在于加强科技生产要素的整合力度,加大科技研发支持力度,获取更多专利和研究成果;整体看,山东上市公司科技创新能力与公司市值之间存在显著的正相关关系,但是国有上市公司和非国有上市公司以及市值规模是否超过100亿元的上市公司科技创新能力和公司市值的关系存在明显的异质性特征。

Taking listed companies in Shandong Province as the research sample,this study selects key indicators that affect the technological innovation capabilities of these companies,such as R&D personnel and R&D expenditures.By employing principal component analysis,a comprehensive evaluation of the companies'technological innovation capabilities is conducted.Based on this evaluation,quantile regression is utilized to examine the impact of enhancing the technological innovation capabilities of Shandong's listed companies on their market value.The study finds that the key to improving the technological innovation capabilities of listed companies in Shandong lies in strengthening the integration of technological production factors,increasing support for R&D,and obtaining more patents and research achievements.Overall,there is a significant positive correlation between the technological innovation capabilities of these companies and their market value.However,the relationship between technological innovation capabilities and market value exhibits noticeable heterogeneity depending on whether the company is state-owned or non-state-owned,and whether its market value exceeds 10 billion yuan.