Empirical Study On Influence Factors Of The R&D Investment For Bio-pharmaceutical Listed Companies

In the21st century, after stepping into a global economy, enterprises are aware of theeffect of the science and technology to improve the competitiveness. Research anddevelopment (R&D) become an important way to promote knowledge accumulation andtechnological innovation, driving enterprise development.The R&D activities ofbio-pharmaceutical companies as a typical Hi-tech enterprise become the importantactivities form gradually, and it is bigger and bigger that the R&D spending accounts forthe proportion of the total cost. How to carry out for bio-pharmaceutical companies R&Dactivities effectively, what are the factors affect R&D spending bio-pharmaceuticalcompanies, have become the focus of attention gradually.The thesis analyses R&D investment situation of bio-pharmaceutical companies,finding out the relationship between capital structure and the strength of R&D investment.Firstly, this thesis explains the relevant research and elaborates the basic concepts andtheories of the R&D and forewarning on the basis of widely accessible relevant literatureat home and abroad. Secondly, this thesis analyzes the current situation of R&D ofbio-pharmaceutical companies, including the biological medicine R&D investmentsituation and disclosure of the situation; Thirdly, this thesis constructs a regression modelthrough using regression method of SPSS software, eventually got five the mostsignificant influence factors of R&D, including ownership balance degree, firm size, ratioof the earning of main operation, asset ratio and human resource index. Finally, accordingto the analysis results, puts forward some suggestions to optimize the bio-pharmaceuticalcompany's R&D investment, including reasonable debt financing, an appropriate increasethe degree of ownership, improve enterprise human resources level, and according to scalefeatures implement R&D investment and enterprise development prospects.