Research On The Correlation Between Scientific And Technological Innovation Input And Financial Performance Of Listed Companies In

Science and technology innovation activities of Enterprise more and more important, from the national level, the enterprise as the main component of national economy, should play a major role in the construction of an innovative country, improve enterprise level of science and technology innovation investment, contribute to innovative new country construction. From the point of enterprise itself, innovation of science and technology is one of important means to obtain the core competitiveness, in the increasingly competitive environment, the enterprise for its own survival and development also need to strengthen scientific and technological innovation. In the country and the enterprise itself, under the dual demand of enterprises gradually realize the importance of science and technology innovation investment. Compared with western developed countries, our country enterprise technological innovation on both inputs they misbehave and input intensity also has the very big disparity, the serious influence the core competitiveness of Chinese enterprises in the international market, restricts the survival and development of enterprises in our country, to occupy the dominant position in the international competition.In this paper, on the basis of summarizing the predecessors’ research, the financial performance of enterprises can be divided into earnings performance, operation performance, debt service performance and growth performance, using data from a GEM listed companies from 2011 to 2013, to select indicators for science and technology innovation investment, and the financial performance of the enterprise’s indicators, using multiple regression model and the modified Cobb-Douglas production function model to verify the relationship between the science and technology innovation investment and financial performance. The results showed that:from the overall, scientific and technological innovation positively correlated relationship between investment and corporate financial performance, science and technology innovation investment on corporate earnings performance, operation performance, service performance and growth performance has a positive role in promoting, but technical personnel and business growth performance is not significantly positive correlation. In addition, science and technology innovation investment has significant hysteresis and cumulative effect, but the hysteresis and cumulative effect significantly weakened gradually over time.According to the empirical research results, this paper puts forward the following Suggestions:first, the government should formulate corresponding policies to promote enterprise promote science and technology innovation investment intensity. Give enterprise technology innovation investment preferential policy, encouraging enterprises to strengthen technological innovation investment; We will continue to improve the market economic system, stimulate the enterprise independent innovation strength ascension. Second, lean enterprise technical personnel team, enhance the overall quality of the technical personnel. Once again, broaden the financing channels of small and medium-sized enterprises, solve the problem of financing difficulty of enterprise technology innovation. Finally, perfecting the information disclosure of the enterprise who do scientific and technological innovation, facilitate the horizontal comparison between enterprises, establishing the correct scientific and technological innovation investment strategy for the enterprise to provide the evidence.Although to the GEM listed companies as the research object, this paper research conclusion can give the GEM listed company provide certain reference for science and technology innovation investment strategies and guidance, but the conclusion in the GEM listed company also has a certain popularization value, promote our country enterprise to realize the importance of science and technology innovation investment for the future development of the enterprise, conducive to the promotion enterprise’s core competitiveness.