Study Of The Relationship Of The R & D Funds Management And Technical Innovations

With scientific and technological progress, technological innovation has become an important condition for a business' survival and development. R & D activities is one of the core activities in technological innovation, R & D funding is the most significant factors to protecting for the success of R & D activities. So, currently many of the studies research technological innovation from the perspective of R & D funding. Recalling previous studies, however, are mostly research the relationship between R & D investment and the outcome of technological innovation, does not take into the management of R & D funds. So this paper plan to study on how to improve the efficiency and effectiveness of technological innovation from the point of R & D fund management.This paper describes the R & D funds management and the theories and concepts of technical innovation firstly, followed by R & D funds management theory as a guide, combined with data on R & D funds management-related indicators for analysis to determine three main aspects of R & D funds managed: the source of fund raising, investment and allocation of funds, and evaluate actual R & D funds management condition of large and medium-sized industrial enterprises in China's. On the base of the analysis results about R & D funds management, according to the co-integration test the idea, paper then does in-depth study to find the relationship between R & D funds management and technological innovation. The empirical results show that R & D funds management has obvious correlation with technological innovation. Finally, Paper put forward the recommendations and countermeasures from investments, capital structure and capital allocation point of viewbased on the results.