The Factors Of Impacting Enterprise R&D Activities

Since reform and opening to the outside world,, our government has been paying great attention to the development of science and technology, R&D investment is an important embodiment of science and technology, which is the main source of a country's economic growth, Research and development (R&D) is growing role for the promotion of a country's economic growth, raising national competitiveness and cultivating their core capabilities. Investment of China's research and development (R&D) is growing, but still have a long way compared with the developed countries, especially more obvious in the strength of corporate R&D investment gap with the developed countries. This paper analyses the status quo of Chinese enterprises invested R&D activities and the factors affecting, shortage of funds hinder China's technological innovation is the first factor. From the perspective of financial resources on the capital structure, internal cash flow, business scale and profitability and other factors on research and development and development (R&D) investment activities.As R&D expenditure mainly concentrated in the manufacturing sector, the paper select samples of manufacturing industry, using regression model of empirical research. Research findings show that: the enterprises of high financial leverage have lower strength of research and development; the relations of Corporate R&D activities and internal cash flow are positive correlation; the relations of absolute expenditure of R&D and size of enterprises are positive correlation, but the relations of strength of corporate R&D investment and size of enterprises is negative correlation; Research and development activities and corporate profit margins haven't significant relationship. These conclusions also explained that the funds is the most important factor of research and development activities and play a crucial role in the R&D activities in enterprises, but this is by no means the only factor, then made some reasonable suggestions to improve the status quo of research and development investment...