Research On Correlation Between Technology Innovation Investment And Financial Competitiveness Of Enterprises In China

With the growing number of enterprises to participate in internationalcompetition, forming and maintaining their own competitive advantage willbecome the major issue when enterprises facing opportunities and challenges. Inthe knowledge economy time, the technology innovation has become the mainpower and source for a national economic growth, and the enterprise only throughconstant innovation, with their own core ability, grasps the market trend, to remaininvincible in the fierce competition. Manufacturing industry as a cornerstone ofeconomic development in our country, account for a large proportion of ourexisting industries, how to enhance their core competitiveness, especially forfinancial competitiveness which has critical impact on the operation anddevelopment, become particularly important.Paper from domestic and foreign research about influence of technicalinnovation investment to enterprise performance, sort out and analyze the literatureof technical innovation investment related theories and financial competitivenessrelated theories, and propose the main content of technical innovation investmentand financial competitiveness. And as a sample of65manufacturing enterpriseslisted in Shanghai and Shenzhen two main board A shares2007-2010data, fromangles of financial survival ability including debt paying ability and profit ability,financial efficiency that is operating capacity and financial growth capacity that isdevelopment capacity and financial competitiveness as a whole, selecte thecorresponding be explained variables and explanation variables reflectingtechnology innovation investment and control variables considering the cash flowfactor and so on, build the multiple linear regression model, empirical analyze thecorrelation between technical innovation investment and financial competitiveness.The study results of paper show that，there is a certain positive correlationbetween technology innovation investment and financial competitiveness of ourmanufacturing enterprise, definitely the positive effects of enterprise research and development input to the promotion financial competitiveness of enterprise，but atthe same time it also reflects the status quo of our country R&D investment too fewand affecting low level of financial competitiveness. So at last the paper putsforward corresponding enterprises themselves should increase R&D investment,strengthen capital accumulation, develop human resources, and format humancapital as suggestions.