Impact Of China’s Pharmaceutical R&D Nvestment In A Listed Company’s Operating Performance

In the era of knowledge economy, research and development activities can promote enterprise’s core competitiveness, improve business performance.To a certain extent, R&D activities reflect the enterprise’s core competitiveness and growth potential."High investment, high risk, high return, long cycle" are the main characteristics of the pharmaceutical industry research and development.The pharmaceutical industry is one of the biggest businesses in R&D density, the core competence of the pharmaceutical industry is the development of productivity.So exploring R&D in the pharmaceutical industry’s influence on the enterprise operating performance is of great significance.On the basis relevant theories of firms’R&D and enterprise performance,the effects of pharmaceutical R&D investment in listed companies in China are analyzed through theoretical analysis and empirical analysis.Data during the study period is from January1,2010to December31,2012.The research object is the listed companies that listed on the Shanghai and Shenzhen two city in our country medicine manufacturing industry before December31,2009.It is concluded that enterprise technical personnel input intensity and R&D strength is positively related to the enterprise and enterprise development ability, is negatively related to the enterprise debt paying ability and assets operation ability.R&D intensity of output is hysteresis and is of the most significant effect of the influence of the profit for the third year, is of the most significant effect of the development for the second year.There are five parts in this text,the first part, introduction.It mainly elaborate the research background, research purpose and meaning, domestic and foreign R&D spending to the company and the research situation of business performance, and description of the research content and framework and research methods and innovations.The second part, introduction to the theory of company’s R&D and business performance.lt mainly introduces the content of the company’s R&D,characteristics and influence factors,and introduces he connotation of the company’s business performance measurement and evaluation index, and it also introduces the performance evaluation index of pharmaceutical listed companies.The third part, empirical research design.It puts forward the selection of samples and indexes and research hypotheses.The fourth part, an empirical analysis on the impact of R&D on business performance, including R&D descriptive statistics analysis, the principal component analysis of the company business performance, the variables of correlation test and regression analysis.The fifth part, research conclusion and suggestion.According to the previous research results, it puts forward corresponding solutions to improve enterprise R&D and business performance.