Econometric Analysis of the Impact of Financial Structure on Innovation Based on the Fixed Effects Panel Model

This study addresses the impact of financial structure on innovation. The mechanism of the impact of financial structure on innovation at different levels of economic development is elucidated from the perspective of optimal financial structure decision theory and development economics, and empirical evidence is provided using manufacturing data from 59 countries or regions for the period 1996–2015. The study finds that financial structure has no significant effect on innovation at lower levels of economic development, but at higher levels of economic development, market-based financial structure significantly promotes innovation in the industry. The role of financial structure in innovation shifts in the interval where per capita income is greater than 9747 International dollar (hereinafter called I$9747) and less than I$17070. This paper verifies that the innovation approach of technological imitation requires the support of a bank-based financial structure, while the innovation approach of independent innovation requires the support of a market-based financial structure. The differences in innovation approaches at different stages of economic development lead to the evolution of the inherent demand for financial structures in the economy. Promoting the evolution of financial structures according to the stage of economic development is of great significance in building an innovative country and leading the sustainable and healthy development of the economy.

Research on Contribution Rate of Independent Innovation to Economic Growth: Evidence from Changshou District of Chongqing City in China

Using the data of Chongqing Statistical Yearbooks from 2015 to 2020 and based on the Cobb-Douglas production function of Solow residual method, this paper constructs a functional relationship model among GDP, employment number, fixed asset investment, and economic growth. The contribution rate of independent innovation in Changshou District of Chongqing City is improved by using polynomial distributed lag model. Besides, the contribution rate of independent innovation in Shapingba District, Yuzhong District, Jiangbei District, and Beibei District of Chongqing City is compared with that in Changshou District. The research shows that, overall, independent innovation contributes a lot to the economic growth of Changshou District, but its contribution rate is in a slowly declining state. The government needs to take active measures to improve the level of independent innovation and promote the regional economic growth.

Research on Influencing Factors of Technological Independent Innovation of Equipment Manufacturing Enterprises from the Perspective of Iceberg Theory

Technological independent innovation is not only the internal need for equipment manufacturing enterprises to improve their core competitiveness but also the urgent requirement to promote economic and social development. Based on the development status of technological independent innovation of equipment manufacturing enterprises, this study analyzes the explicit and implicit influencing factors of technological independent innovation using iceberg theory and obtains the multilevel hierarchical structure model of explicit and implicit influencing factors and its key influencing factors using the integrated DEMATEL-ISM method. The three aspects of enterprises give suggestions and countermeasures for the existing problems, put forward correct and effective guidance for the technological independent innovation of equipment manufacturing enterprises, and lay a solid foundation for China’s industrial revitalization and economic development.

The Impact of Income Terms of Trade Changes on Private Savings

The terms-of-trade fluctuations have been an important factor in explaining macroeconomic capacity while foreign demand for certain export commodities is inflexible and has a significant impact on their economies in the shocks of external terms of trade. Changes in the external terms of trade might harm private savings while higher inflation rates and lower levels of social security tend to increase private savings due to higher uncertainty. This paper analyzes the characteristics of China’s income terms of trade (ITT) and private savings from 2000 to 2019 based on the related macroeconomic literature and the functioning factors affecting the long-term private savings. Empirical regression models are constructed, and the results suggest that improvement of income terms of trade by 1% leads to an increase in private saving rate by 0.413%, but this relationship has the opposite effect after the 2008 global financial crisis. Policy recommendations are proposed on the promotion of independent innovation ability of foreign trade and the optimization of trade structure along with other progressive analyses on China’s current problems in foreign trade.

Research on Performance Prediction of Technological Innovation Enterprises Based on Deep Learning

High-tech enterprises are the leaders in promoting economic development. The study of the relationship between their scientific and technological innovation capabilities and corporate performance is of far-reaching practical significance for guiding companies to formulate independent innovation strategies scientifically, improving their independent innovation capabilities, and promoting further transformation into an innovative country. In view of the large-scale technological innovation enterprise network, the traditional technological innovation enterprise performance prediction method cannot fully reflect the real-time technological innovation enterprise status. Aiming at the deficiencies of the existing short-term technology innovation enterprise forecasting methods, this paper proposes a technology innovation enterprise performance forecasting method based on deep learning. I analyze the temporal and spatial characteristics of the data of technological innovation enterprises and divide the data according to the temporal characteristics of technological innovation enterprises. According to the spatial relevance of technological innovation enterprises, grouping is carried out by setting different correlation coefficient thresholds. The method of spectral decomposition is used to divide the data of scientific and technological innovation enterprises into trend items and random fluctuation items, to decompose the matrix of scientific and technological innovation enterprises, and to construct a compressed matrix using correlation. Using the deep belief network model in deep learning combined with support vector regression to establish a prediction model for technological innovation enterprises, this paper proposes a convolutional neural network model for performance prediction of scientific and technological innovation enterprises. Through the convolution operation and subsampling operation based on the concept of local window, the feature learning from the local to the whole is completed. This article uses the Naive Bayes model, logistic regression model, support vector regression model, and other mainstream methods to predict and compare the performance of technological innovation enterprises. I use the dropout method to reduce the impact of overfitting during training. The experimental results show that the deep neural network model method used in this article can achieve better prediction results than mainstream methods under the same characteristics. The experimental results on the data set confirm that the method of performance prediction of technology innovation enterprises based on deep learning used in this paper can effectively improve the results of performance prediction of technology innovation enterprises.

Innovation Model of China's High-End Equipment Industry: Do Social Capital and Dynamic Capabilities Matter for the COVID-19 Crisis?

This paper explores the different model combinations of enterprise innovation in China based on the roles of social capital and dynamic capabilities. We implement Qualitative Comparative Analysis to understand the non-linear asymmetric relationships better. We use the data of 44 Listed Companies in China's high-end equipment manufacturing industry and find that three innovation models (the market-oriented independent innovation, government-supported technological innovation and industry-supported learning innovation models) are valid. Social capital, dynamic capabilities, and intra-industry networks are the main determinants of these innovation models. We also discuss the implications of these innovation dynamics on Chinese enterprises as a way to sustain the economy's high-quality development, including during the era of the COVID-19 pandemic crisis.

Axe Quarrying, Production, and Exchange in Australia and New Guinea

Ground-edge artefacts (GEAs), also known as ground-edge axes, are an independent innovation that date to the earliest sites in Sahul (the continental landmass of Australia and New Guinea). During the Pleistocene, these tools were localized to the northern parts of the continent. Over time, significant changes took place in the distribution of GEAs, which became an almost continent-wide technology, with distinct regional variations in their form, production, and exchange patterns. This article explores the evolution of GEAs in Sahul, mapping the different trajectories in their production, use, and exchange, while also exploring the different roles that they may have played both socially and economically in their communities of use.

Exchange rate appreciation, trade competition and technology transaction: evidence from China

PurposeThe purpose of this study is mainly to investigate the stimulating effect on technology transactions of trade competition resultant from RMB appreciation.Design/methodology/approachThis study uses Chinese provincial panel data from 1998 to 2015 and utilizes GMM method to estimate the stimulating effect of RMB appreciation on technical transactions through trade competition.FindingsThe results demonstrate that RMB appreciation can encourage enterprises to make use of domestic technology market resources for innovation. Specifically, the increase in imports due to the appreciation of RMB can generate technology spill-over and significantly promote technology trade. The export competition resultant from RMB appreciation can also encourage domestic and foreign enterprises to enhance export competitiveness through increased technology transactions.Originality/valueThe current research investigates the impact of exchange rate on independent innovation, but this study demonstrates the influence of exchange rate on technology transactions. In addition, the data in this study cover 1998–2015 in China and thus contributes to determining the effects of exchange rate appreciation in emerging countries.

Analysis on the independent innovation path and development trend of emerging marine industry based on DEA Model

The development trend of the emerging marine industry affects the development of the marine economy, to explore the development trend and the independent innovation path of the emerging marine industry, the added value of the emerging marine industry as the dependent variable, R&D personnel and R&D funds as the intermediary variables, innovation efficiency as the explanatory variable were selected, a development trend measurement model was established by using the Data Envelopment Analysis (DEA) method, and the independent innovation path and development trend of the emerging marine industry through the established model was analyzed. Results show that the four independent innovation paths of technological capability, technological management capability, technological strategy, and network capability have a positive incentive effect on the development of emerging marine industries, and technological capability has a higher incentive for the development of emerging marine industries. Based on the results of empirical analysis, this study proposes strategies to promote the development of emerging marine industries, such as enhancing public awareness of emerging marine industries, improving long-term mechanisms for the development of emerging marine industries, and enhancing the independent innovation capabilities of emerging marine industries.