中文摘要：

本文基于技术创新对资本配置效率有重要影响的思路，借助Jeffreywurgler的资本配置效率模型，测度了我国大型高新技术企业经营的各个行业的资本配置效率水平。同时通过引入技术创新能力指标和对Jeffreywurgler的资本配置效率模型进行有效的改进，并利用2001--2008年的相关数据，检验了技术创新对资本配置效率影响的存在，实证结果表明技术创新对我国大型高新技术企业经营的各个行业的资本配置效率有显著的影响，其影响值约为0．135；结果同时显示，相对于企业利润指标，技术创新指标对资本配置效率的影响在技术创新能力高的一组中的作用更加明显。

英文摘要：

Based on the ideas that technical innovation have a major impact on capital allocation efficiency, this paper Uses Jeffrey Wurgler model measures the efficiency level of large-scale high-tech industries to capital allocation of our country. At the same time this paper uses the index of technological innovation capability to improve Jeffrey Wurgler model, and uses the 2001--2008 data of high-tech industries in China to examine the impact of technical innovation on capital allocation efficiency. The results showes that significant impact existent and the efficiency of capital allocation of high-tech industry value around 0.135. When compared with the index of industry profit, technological innovation ability index in industries with high technological innovation capability exerts more influence on the efficiency of capital allocation.