The Correlation Research About The R&D Spending And Performance Of The Companies

Since the reform and opening, Chinese government pays more attention to the development of science and technology. Science and technology are the main source of a country’s economic progress, research and development investment is the important embodiment of science. Besides, technology is a research and development activity to conduct basic guarantee. Hence, not only does R&D benefits to promote sound and rapid economic development of a country, but it is conducive to optimizing the industrial structure upgrade and speed up the economic growth mode transformation. Even in a country’s national competitiveness, the role of core competitiveness is becoming bigger.This article selects2010-2012annual disclosures of listed companies in China r&d as the research sample. After eliminating ST and ST*companies and extreme value, it obtained1061samples at last. The highest research contents are about spending on R&D for the company and the performance indicators of the company. What is more, it also has additional summary and analysis of the results. And then this paper mainly uses a regression model to carry on the empirical study. It surely uses correlation analysis and independent samples T test for assistance. All of these are based on mixed data. The beginning of this article is the analysis of how the listed company’s R&D intensity impacts four representative enterprise corporate performance indicators. According to the principal cause analysis, it gets four aspects of performance indicators which are profitability, solvency, operational ability and development ability. In addition with R&D intensity as the explained variable, and joined the company size and ownership concentration as virtual variables. After that, it using multiple linear regression models and the modified cobb-douglas (Cob-Douglas) function model for the inspection of the three hypotheses is put forward and studied. Finally rely on the results of the study put forward some policy suggestions for reference.This article is divided into five chapters; the main contents are as follows: The first chapter is the introduction section. Mainly includes R&D research background, research significance, research purposes, the research contents and methods of this article. In order to explain this paper innovation point, it analyzed for r&d research process and consequences at home and abroad, expounds the this article main research content and research methods,.The second chapter overview for related theory and literature review part. The beginning of this section is inputs and the concept of research and development. And this article for defining the relevant concepts of enterprise performance evaluation standard; followed by the brief analysis of external and internal factors influencing corporate R&D investment; The last carding R&D research of scholars both at home and abroad.The third chapter as the research design. Including the research hypotheses, data sources, and has carried on the related definition of each variable index.The fourth chapter is the empirical research divides that including descriptive statistics analysis, correlation analysis and regression analysis after the introduction of control variables. This part is mainly using the data and methods of the previous part, on the company’s spending on research and development and performance of the empirical analysis.The fifth chapter is conclusions and suggestions. On the basis of above analysis concluded, for drugs, especially industry and the electronic information industry in China to improve enterprise R&D investment and business performance, countermeasures and suggestions are put forward.The innovations of the essay are as below:First, sample stands on the side of innovation. This article selects samples during2010-2012, three years disclosures of all data of listed companies. The size of research and development expenses is large and representative.Second, the angle of essay is novel. Based on the empirical analysis separately, not only prove the relationship between R&D intensity and corporate performance, but also analyzed in detail with four representative indicators which are obtained by factor analysis, correlation. Hence, it becomes higher accuracy and more comprehensive compared to the previous articles about using the profitability index on behalf of key Performance Indicator.