Analysis on Stochastic Change Characteristics of Technological Innovation Efficiency under Endogenous Change in Technological Information and Investment of Knowledge Capital

Linsheng Yang (), Jintao Gong and Bihao Wang
Additional contact information
Linsheng Yang: Institute of New Economics Research, Ningbo Polytechnic, Ningbo 315800, China
Jintao Gong: Institute of New Economics Research, Ningbo Polytechnic, Ningbo 315800, China
Bihao Wang: School of Economics and Management, East China Jiaotong University, Nanchang 330013, China

Sustainability, 2023, vol. 15, issue 6, 1-27

Abstract: The allocation of innovation-related elements is influenced by intangible elements such as technological information, which affects knowledge capital, human capital, and material element investment, resulting in the stochastic change of technological innovation efficiency. The endogenous change in technological information in element investment reduces friction, lowers costs, improves efficiency, and gradually reduces the deviation between knowledge capital investment and technological innovation efficiency. In terms of small knowledge capital investment characterized by the low demand for technological information and a single source, it is easier to make more-accurate predictions, so the stochastic change in technological innovation efficiency tends to be gentle. The endogenous change in technological information continuously increases the proportion of replacing other elements with knowledge capital investment, and the efficiency of technological innovation improves steadily. Under the condition of unchanged investment in other elements, there is a great difference in the duration of technological information between the simultaneous selection and the successive selection of knowledge capital investment. When one-time instantaneous information and continuous complete information are respectively acquired, the stochastic variation of technological innovation efficiency is obvious. On the basis of the technological innovation data of 287 listed companies in eight industries, this paper compares and analyzes the measurement results of GMM and OLS to verify the above findings.

Keywords: technological information; endogenous change; technological innovation efficiency; stochastic change characteristics (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://www.mdpi.com/2071-1050/15/6/4799/pdf (application/pdf)
https://www.mdpi.com/2071-1050/15/6/4799/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:15:y:2023:i:6:p:4799-:d:1091182

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().