The Empirical Research About Relationship Between R&D Investment And Corporation Performance

Technical innovation is the core of achieving the advancement of science. As thedevelopment of world’s technology, technology will play a more and more important rolein the world. Technical innovation becomes necessary for enterprises, and R&D is the mostimportant means. The research of the relationship between R&D investment andcompany’s performance becomes a key point. But the domestic research is less, so theauthor considers it necessary to do in-depth research.Based on the analysis of the R&D investment status of China’s enterprises, and theauthor researched R&D theory, R&D and technological innovation, and other microcosmicfield research in the domestic and international.40listed companies in china’s stockmarket are chose as researched objects, the annual published R&D data are used, and theabsolute amount of R&D investment and the R&D investment ratio are regarded asexplainatory variable, a compositive indicator is regarded as explainatoried variables. Theauthor established a panel date model to explain the relationship between SME high-techenterprises’ R&D and the company’s performance, and researched the lag result of R&Dinvestment.By empirical research, the author found that R&D investment has a good influence oncompany’s performance, and find that R&D investment does have a lag result onenterprises’ performance. Based on the research results, the author presented someproposals to Chinese SME high-tech companies.