The Study Of The Growth Of Gem Listed Companies Based On Research And Development Intension

Information era, economic globalization, bringing new issues and challenges, international competition is increasingly fierce. In the face of the new social and economic environment, various countries recognize the important strategic role of science and technology innovation, science and technology will create and convert into huge productivity. Education science of our country medium and long-term development plan and "twelfth five-year" plan and so on are emphasized to actively guide and support the emerging industry and transform the mode of economic growth and improve the ability of independent innovation, research and development activities is one of the important factors. These factors provide good opportunities for development for the continued growth of the gem listed companies in our country. Gem is high-growth, high-tech content, high value-added and it serves the new economy industry particularity. As main body of micro market of the listed company, it should continuously enhance the competitive advantage and play a more and more important role in the economic development, achieve its market orientation and unique important role.Company’s sustainable growth must cultivate the core competitiveness The basis of formation is the core technology and core products, the source of the core technology and products get through scientific and technological innovation, and innovation of science and technology depends on a lot of research and development activities to achieve.So the research and development activities in the formation and improving enterprise core competitiveness are the key roles. However,the capital market of our country still is not perfected, before the implementation of new accounting standards is used to enterprises,the R&D input is not compulsory disclosure, the relationship between R&D investment and firm growth and function, is still lack of empirical research and consistent conclusion. Based on these reasons,the paper study the correlation of both deeply, with the hope of being further, and contribute to build and improve enterprise’s core competitiveness. The paper use the achievements of scholars for reference, by analyzing input and output theory, production factor theory, human capital theory, theory of technology innovation,research and development activities and influence from interior and exterior factors of firm growth mechanism analysis, The paper selecte the gem listed companies in China for three years from2010to2012data during the period of observation, the integrated use of factor analysis, descriptive statistical analysis, multivariate linear regression analysis to explore, based on the research and development strength of the gem growth problem of listed company in our country. R&D intensity is defined as the research and development, research and development and technical person, technology capital, from the capital, human resources, R&D transformation achievements perspective. Established business growth multiple evaluation index system, a total of five indexes15indicators, through the factor analysis method, to extract the five main factors that affects the firm growth, growth composite scores as the dependent variable. The model is based on research and development into two absolute quantity and relative quantity of each other, and part of the corporate governance factors as control variable, the empirical study using multiple linear regression method, this paper, the following conclusions: intensity of R&D investment and its growth has a positive role in promoting; Research and development and scientific and technological personnel input was not significant, but the direction is positive, the intensity is significant positive correlation; Capital of science and technology do not play a significant role to enterprise growth, its achievements transformation effect needs to be improved; The joining together of two position of corporate governance structure has positive relationship with the enterprise, regression effect is remarkable. Targeted depth analysis, finally, the empirical research results related to enlightenment and put forward the corresponding policy recommendations. Study limitations and future research directions are presented in the future.