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Research On R&D Financial Management Of High And New Technology Enterprises

Posted on:2005-02-08Degree:DoctorType:Dissertation
Country:ChinaCandidate:X L ZhaoFull Text:PDF
GTID:1116360152465771Subject:Management Science and Engineering
Abstract/Summary:PDF Full Text Request
R&D is the motive force source of existence and development of high and new technology enterprise. The necessity and urgency of R&D's financial managements are apparently protruding along with the increasing of investment of high and new technology enterprise. Taking the basic theory of financial managements and basic function as the thread, the paper has put R&D's financial managements into high and new technology enterprise R&D's procedure by means of integrated methods.First, the paper has studied the definition, classification, procedure, strategy, and the development law of R&D from the analysis of characteristic of high and new technology enterprise. It has described theoretically the definition, objective and connotation of integrated R&D's financial managements by fully analyzing new requirements of R&D financial managements.Second, from whole R&D's system, according to the different requirements of high and new technology enterprise R&D's strategy with each stage in R&D's course, the paper has put optimization disposition of financial resources into consideration and lay down R&D's financial managements plans. Thinking over the present situation of our country capital market and the financing ability of enterprise, it has built the tactful loan system under synthetically analyzing the fund requirement characteristic and loan obstacle of R&D activity. It uses EBIT-EPS analysis and calculation method to measure the most excellent capital structure from the enterprise value and financial risk.Third, the paper studied notable characteristic and the development trend of high and new technology enterprise R&D investment, the distribution law of R&D's investment fund and the problem should paid attention to in the practice. It has systematically analyzed financial characteristic of R&D's input-output. And it has constructed the invested financial estimate system, and using the depression cash flow method, entropy method and future method to make R&D's investment. It not only carried on the sensitivity analysis to R&D's investment, but also measured and avoided the financial risk probably raised in the R&D activities such as loan and investment etc.Fourth, the paper has studied the specification of handling method of payment accounting and publishing of R&D's information home and abroad. Ithas analyzed the different influences to the enterprise that R&D payout "costization" and "capitalization" lead from the financial angle. It has also put forward selective tactics of enterprise to R&D's payment-accounting handling method and R&D's information publishing at present. It has been built R&D's assess and personnel imitating system according to the output characteristic of the R&D.Fifth, according to the new requirement to the financial managements of high uncertainty of R&D, it has put forward the definition of high and new technology enterprise R&D financial management flexibility. It has systematically study the rigidity and flexibility of R&D's financial managements and constituted the measure method of R&D's financial management's flexibility and flexible net benefit. It has also leaded the principle of pre-control diagram in the quality control into R&D's financial managements to monitor dynamically the flexibility of R&D's financial managements.
Keywords/Search Tags:Financial Managements, R&D, High and New Technology Enterprise, Financing, Investment
PDF Full Text Request
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