How to enhance the innovation capacity of technology-based enterprises: A fuzzy set qualitative comparative analysis

Geopolitical conflicts and trade wars bring many challenges to the growth of Chinese technology-based enterprises. Against this background, explore how to improve the innovation capacity of technology-based enterprises is conducive to promoting economic development. This paper selects 97 A-share listed technology-based enterprises from 2019 to 2022 as the research subjects. The paper further adopts the fuzzy set qualitative comparative analysis method (fsQCA) to examine the path of improving the innovation capacity of technology-based enterprises in different resource endowment regions in China. The findings of this paper are as follows. First, no single factor can serve as a necessary condition for improving regional technology-based enterprises' innovation abilities. Second, three paths, namely " government + talent" driven, "technology + talent" driven, and "finance + talent" driven, are formed by five conditions related to technology and talent levels to foster such improvement. Third, human capital constitutes a fundamental prerequisite for enhancing the innovation capacity of regional technology-based enterprises. Exclusive reliance on government subsidy fails to foster such improvement in the absence of supportive policies about technology and talent. Based on the findings of this paper, we propose relevant policy recommendations for improving the innovation capacity of technology-based enterprises.