Research on the Mechanism of Innovation Efficiency on Innovation Speed

Purpose/Significance “Time is money, efficiency is life”. Under the background of innovation driven development, it is necessary to study the mechanism and characteristics of innovation efficiency on innovation speed. Design/Methodology Based on the analysis of the mechanism of innovation efficiency on innovation speed, taking high-tech industry as an example, this paper comprehensively uses panel data model and panel threshold regression model to analyze the impact of innovation efficiency on innovation speed. Conclusions/Findings Statistical analysis shows that the mechanism of innovation efficiency on innovation speed is significant. The innovation efficiency level of high-tech industry still has great room for improvement, but the development trend is good. As time goes on, the elasticity of innovation efficiency to innovation speed increases. The elasticity of innovation efficiency to innovation speed decreases with the improvement of the former. The elasticity of innovation efficiency to innovation speed decreases with the improvement of the latter. When the research & development scale is medium, the elasticity of innovation efficiency to innovation speed is the lowest.