Innovation Efficiency of Chinese Manufacturing Listed Companies Towards the Development of An Improved Policy Guidelines

This dissertation examines the factors influencing innovation efficiency among Chinese listed manufacturing companies, aiming to develop improved policy guidelines. The study focuses on the impact of enterprise digitalization level and government subsidy intensity on innovation efficiency. The findings indicate that digitalization significantly boosts innovation efficiency, while government subsidies also positively contribute with pronounced effect. Furthermore, the study reveals enterprise ownership and region variations, with enterprise digitalization having a significant impact on innovation efficiency in state-own enterprise but not in non state-owned enterprise, while government subsidies having a significant impact on innovation efficiency in developed provinces but not in non-developed provinces. The results highlight the heterogeneity of these factors across different ownership types and regional development levels. Based on these findings, the thesis recommends that enterprises should enhance their digital transformation efforts and that governments should refine subsidy policies, increase resource investment, and improve the policy environment to jointly promote a comprehensive leap in the industrial value chain and high-quality economic development.