Calculation and analysis of the efficiency of resource allocation for technological innovation in China.

The efficiency of resource allocation in technological innovation is a critical factor influencing the output level of technological innovation. By expanding and optimizing the Hsieh & Klenow (2009) framework for analyzing the efficiency of resource allocation and relaxing the assumption of constant returns to scale, this study utilizes sample data from Chinese listed companies from 2007 to 2019 to measure and analyze the resource allocation efficiency level in China's technological innovation. The findings indicate that in the process of technological innovation, companies face heterogeneous resource usage costs, leading to a deviation from the optimal resource allocation state, with evident issues of resource misallocation.