Research On The Process Of Marketization, R&D Investment And Firm Performance

The knowledge economy in China as an emerging economic form has been quietly rising. In this mode, Science and technology is the precursor of the enterprise has become the most vigor and vitality of the organization, This form of economic organization is the future direction of development, Science and technology have become the first productivity on real significance. In 2005, The government proposed to the development strategy of building innovation oriented, And stressed the need to increase R & D investment intensity (R & D expenditure/GDP), Formulating development goals by 2020 that Chinese will enter the ranks of national science and technology. On the enterprise level, the fierce market competition environment, technology rapid development, plays a very important role in the development of R&D expenditures of enterprises. In 2007, Chinese enterprises to implement the new accounting standards, the investment in research and development of a more prominent role, on the one hand by the old rules of R & D expenditure of all the items into the now "conditional capitalized", enhance the enthusiasm of R & D enterprises; on the other hand, the new accounting standards stipulated every listing Corporation should disclose R & D the amount of the notes, the R & D investment data are available. Therefore, in the background of the new system, the correlation of R & D investment and enterprise performance-in-depth study has very important theoretical and practical significance, which not only can promote the enterprise to hold enough attention to the research and development activities, raise the level of competitiveness of enterprises, but also can enhance the comprehensive national strength of our country, realize the development goal of building an innovative country the. On the. other hand, in 1978 China began to implement the reform and opening up, has embarked on the construction of the road of socialist market economy, through nearly 40 years of development, the degree of marketization in our country continues to improve, the enterprise external environment can be improved, the system environment of different areas will significantly affect the enterprise’s daily management and decision-making. Especially in China, a region of the degree of market development is not balanced, so this paper described above, to investigate the relationship between the degree of marketization, corporate R&D investment and enterprise performance of the three.This paper is structured as follows:the first part is the introduction, an overview of the research background, research content, research status at home and abroad, the significance, literature review, research ideas and research methods, at home and abroad on the marketization process, R & D investment, enterprise performance of Xiang Guanwen offered by sorting out; the second part is the theory foundation of the research, elaborates the theory related to R & D investment and corporate performance; the third part is the study of theoretical analysis, on the basis of theoretical analysis this paper put forward the hypothesis; the fourth part is the empirical results and analysis, from the empirical test of the hypothesis; the fifth part is the research conclusions and countermeasures, the first four chapters are summarized summary, draw relevant conclusions.The innovation of this paper lies in:(1) the innovation of research perspective. The previous research on R & D investment started from the system environment, industry factors, governance structure and other internal and external factors, on the market process has seldom mentioned, from the market perspective, has important practical and theoretical significance of study on the correlation between R & D investment and enterprise performance. (2) the research content-innovation. This paper will combine the research of scholars at home and abroad, to promote the process of marketization in our country, and analyzes the Shanghai and Shenzhen A shares,2007-2010 years of financial data, in the basis of the empirical model, the degree of Market Research on R & D investment and the effects of different degree of market under the R & D investment impact on enterprise performance.