Abstract：This paper investigates the properties of the knowledge production function and the determinants of the R&D efficiency by using a panel data of 33 Chinese industries(2001—2012),based on measuring R&D capital stock.In order to get the R&D capital investment amount,the R&D investment is divided into capital investment and staff input.And then it builds and estimates knowledge production function .Finally,it analyzes the determinant factors.The conclusions are as follows.First,in the knowledge production function,the elasticity of R&D capital is greater than that of human investment,and the knowledge production has the property of constant returns to scale and phase incremental features.Second,firm size has no significant effect on the production of knowledge.The performance in some cases has a positive impact,and its impact on patent productivity performance has not significantly negative impact.While in the new product function,performance has a positive impact on the efficiency of the new product function.Lastly,the paper uses two different indicators of state-owned property(the proportion of the output value of state-owned and state-owned fixed assets ratio),which have negative effects on the new products function,while the proportion of the output value of state-owned has a negative effect on patent production function,and the proportion of state-owned fixed assets has a positive effect on patent production.
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