The Research Of Enterprise Financial Risk And R&d

Research and development activities are the main source of enterprise innovation; they are the important pillar of enterprises to form the core competitiveness. Under the strong competition of the market, foreign enterprise has promoted development and research activities to a certain height when awared of it’s importance, but the domestic enterprises do not have enough awareness, they invested far less than abroad whether it be human, material or the financial resource. The low investment of R&D affected their own survival and development level. Whether there is a correlation between the financial risk and R&D input of enterprise, the existing literature lacks science and consistent empirical study of it. In this context, study of the correlation between financial risks and the R&D input becomes the theory and practice of common concern in the world.This paper, based on the enterprise level to proof the correlation between financial risk and R&D input. First, analysis of the present situation of R&D input in our country, reviews the current literature which is about financial risk and R&D input; then, puts forward some research hypotheses according to relevant theory; Secondly, this article selects199Electronic and information technology listed companies which listed in Shanghai and Shenzhen security exchange from2007to2010and studies the correlation between the financial risk and R&D input by SPSS. The mainly features and contribution of this paper is:First, in the research field of R&D input, it had emerged lots of research achievements, but most of the empirical literature are focused on the national level, the regional levels, and the enterprise level. It lacked of the research which is about the relationships between enterprise financial risk and R&D input. This paper combines with the characteristics of the listed electronic and information technology industry, according to the data in the annual report, verifying the correlation between the financial risk and R&D input; Second, when selecting the index, this paper comprehensively selected index to measure the financial risk, all of them have strong representative.Through this research, on the one hand, it helps to understand the present situation and the difference of R&D input based on the industry; On the other hand also helps to find the correlation relationship between the financial risk and R&D input in the listed companies. But my knowledge reserves is limited, the study also has many insufficiencies, need further study: First, the sample of this study is limited to listed companies which disclose the costs of R&D in the annual report, the samples are too short, overall, I hope to further improve the accounting standards, mandatory disclosure research and development expenses do deep research; Second, when studying the correlation relationship between the financial risk and R&D input,I can not consider all of the influence factors, so lead to the interpretation of the model and limited, looking forward to enrich in the future.