The Influence of High-tech Qualification Accreditation on Enterprise Innovation Performance Based on an Empirical Study Using PSM

In order to promote China's economy high-quality development, the country has continuously lowered the certification standards for high-tech enterprises. The existing research literature has not yet reached a clear conclusion about the impact of high-tech qualification certification on enterprise innovation performance. This paper uses the Shanghai and Shenzhen A-share listed companies from 2013 to 2018 as a research sample. Through the propensity score matching method, it is found that the implementation of the high-tech enterprise identification policy has an effect on the innovation performance of the enterprise, especially for strategic innovation represented by the number of non-invention patent applications. The sub-sample results show that the identification policy has a more obvious impact on the innovation performance of non-state-owned enterprises, young enterprises and larger enterprises. Finally, based on the results of the research, it is proposed to continuously improve the identification policy, guide enterprises to make substantial innovations, and implement hierarchical tax rates for different types of enterprises to help improve the identification policies for high-tech enterprises.