包装行业上市公司技术创新对经营绩效影响的实证研究

包装行业的发展和资源利用与环境保护高度相关，而包装企业的技术创新直接关乎我国包装行业的转型与可持续发展。以包装行业26家上市公司2016—2020年的数据为样本，分别使用综合技术效率与托宾Q值来衡量包装行业上市公司的技术创新和经营绩效，然后利用DEA方法中的基于投入导向的BCC模型测度2016—2020年包装行业上市公司的综合技术效率；并基于随机效应模型，实证分析包装行业上市公司技术创新对其经营绩效的影响。研究结果表明：包装行业上市公司近年来的综合技术创新效率呈缓慢上扬之势，但总体水平仍偏低；当期、滞后1期及滞后2期的综合技术效率与托宾Q值的相关性为不确定，而滞后3期的综合技术效率对托宾Q值存在稳定的正向影响。这说明包装行业上市公司技术创新促进其经营绩效的提升有明显的滞后性，相关主体必须着眼长远、主动施策。

An Empirical Study on the Impact of Technological Innovation on Business Performance of Listed Companies in Packaging Industry

The development of the packaging industry is highly related to resource utilization and environmental protection, and the technological innovation of packaging companies is directly related to the transformation and sustainable development of China,s packaging industry. Taking the data of 26 listed companies in the packaging industry from 2016 to 2020 as a sample, the comprehensive technical efficiency and Tobin,s Q value were used to measure the technical innovation and operating performance of listed companies in the packaging industry, and then the input-oriented BCC model in the DEA method was used to measure the comprehensive technical efficiency of listed companies in the packaging industry from 2016 to 2020. Based on the random effects model, the impact of technological innovation of listed companies on the packaging industry was empirically analyzed on their operating performance. The results show that the comprehensive technological innovation efficiency of listed companies in the packaging industry has shown a slow upward trend in recent years, but the overall level is still low. The correlation among the comprehensive technical efficiency in the current phase, lag phase 1 and lag phase 2, and Tobin,s Q value is uncertain, and the comprehensive technical efficiency of the lag phase 3 has a stable positive effect on Tobin,s Q value. This shows that the technological innovation of listed companies in the packaging industry has a significant lag in promoting the improvement of their operating performance. Therefore, relevant entities must focus on the long-term and take the initiative to implement policies.