Correlation Analysis On R&D Investment And Firm Performance Of High-tech Listed Companies

With the development of market economy and international competition intensifies, more and more companies recognize that technological innovation has become the foundation and lifeblood of the enterprise survival and development. R&D investment as a scientific and technological innovation, its input strength will directly influence the scientific and technological innovation, economic growth, and the survival and development of the company.In recent years, total R&D investment has increased in many companies, but compared with the Western developed countries, there is still obviously inadequate. The insufficient R&D investment is as a bottleneck restrict China’s enterprises (especially high-tech enterprise) to improve the level of technology innovation and competitiveness. Therefore, to increase the correlation study on R&D investment and performance, will help enterprises fully understand how R&D investment influence firm performance,corporate survival and development.This paper first describes the theories of R&D investment and corporate performance,and than detailed conduct to the theoretical analysis and empirical analysis on the relationship of high-tech enterprises, R&D investment and corporate performance. Research shows that corporate R&D investment is positively related to corporate performance, it means increase R&D investment will help to improve corporate performance.The full text is divided into five parts:Part I, Introduction. Mainly described the research background, the significance of this research and introduce the research findings on the relationship of R&D investment in the company and corporate performance at home and abroad.Then, explain the research ideas, content and research methods in this study. The second part,Overview of the company R&D investment and corporate performance theory. Mainly introduces the connotation of company R&D investment and its measuring method, the connotation of the company’s performance and its evaluation methods, theory, provide the necessary theoretical basis for the subsequent chapters of the study. The third part,analysis the high-tech R&D investment and corporate performance theory. Mainly described the correlation theory of R&D investment and company performance, discussion the impact of R&D investment to corporate performance in the theoretical way. The fourth part, empirical analysis of the high-tech R&D investment and company performance. Input data for the study of high-tech listed companies in2008-2010, put forward the research hypotheses, build models, conduce to the empirical analysis of R&D investment and corporate performance on high-tech enterprises. The analysis includes the principal component of corporate performance analysis, descriptive statistics, correlation test and regression analysis between variables. The fifth part, the findings and recommendations. According to the results of the previous theoretical analysis and empirical analysis, propose recommendations to improve the high-tech R&D investment.