Innovation-Driven Stock ValuationThe Influence Mechanism of R&D Investment in China Stock Market

Abstract

Scientific and technological innovation plays a vital role in the development of enterprises and national economic growth. Stock valuation reflects the capital market's recognition of enterprises, and whether technological innovation can promote the improvement of enterprise stock valuation needs to be empirically tested. Therefore, this study selects listed companies in Shenzhen and Shanghai Stock Exchange from 2017 to 2022 as samples to explore the impact of technological innovation on stock valuation through empirical tests. The results show that technological innovation has a positive impact on stock valuation. The research in this paper not only enriches the relevant literature of technological innovation and enterprise valuation, but also has important reference value for enterprise management and guiding investors to rational investment.