Abstract

Evaluating the effect of the recognition of high-tech enterprises is the basis for further implementation and improvement of the recognition policy, which has important practical significance for promoting the innovation and development of high-tech enterprises. This paper takes A-share listed companies from 2007 to 2017 as research samples, uses principal component analysis method to construct measurement indicators of identification effect of high-tech enterprises, and uses propensity score matching differential model (PSM-DID model) to evaluate the implementation effect of current policies. The results show that: (1) From the perspective of average treatment effect, the current policy can effectively improve the technological innovation ability of enterprises, but has no significant impact on the technological achievement transformation ability; (2) From the perspective of dynamic marginal effect, the effect of current policies on improving the technological innovation capability of enterprises increases first and then decreases, and there is no regular effect on the transformation capability of technological achievements; (3) From the perspective of inter-enterprise heterogeneity, the current policy has better incentive effect on the enterprises with large scale, abundant cash flow, strong operation ability and growth stage. Based on the above results, this paper suggests that policy makers should follow the inherent law of innovation activities and establish a long-term evaluation mechanism. The method of rolling examination is adopted to increase the requirements for new intellectual property rights of enterprises. Pay attention to the commercial value of innovation results and guide enterprises to pursue the financial performance of the transformation of results; Supporting policies for small enterprises and cash-flow deficient enterprises to support; Differentiated identification standards and supporting policies shall be adopted according to the operation capability and life cycle of the enterprise.

Keywords

high-tech enterprises; Technological innovation; Transformation of technological achievements; PSM-DID model;