Research On The Influence Of R&D Input On Enterprise’s Value Of Small And Medium-sized Plate

With the economic globalization coming, the independent innovation, scienceand technology has become a long-term strategy of the enterprise and the wholecountry, R&D(Research and development)input is the basis of independent innovation,positive R&D inputs will promote the progress of science and technology, advancethe development of enterprises and the whole country progress. From the beginning ofbear Pete’s theory of innovation, more and more scholars begin to study the activitiesof R&D. In such a situation and background, there is a certain significance of R&Dinput to the sustainable growth of the enterprise.Based on the R&D input theory and enterprise value theory, with112listingCorporation China small and medium-sized listing Corporation which publish R&Dinput information for five years as the sample, analyze the current situation of smalland medium-sized board of listing Corporation first, then use the method of empiricalstudy, respectively, the evaluation index system of enterprise value from two aspectsof financial value, market value, financial value selection of the rate of return on netassets, total assets turnover, net profit growth rate, market value to select Tobin Qvalue and stock price as the indicators, respectively, analyze the influence of R&D onenterprise financial value and market value. The results showed that R&D into theoverall corporate financial value and market value is positive effect and has laggedbehind, on the basis of the findings emphasize the importance of R&D input to the value of the enterprise, and puts forward a series of suggestions for enterprisesand government. The enterprise should have the initiative to actively carry outcontinuous R&D input, and improve the efficiency of R&D input; thegovernment should provide support in tax, finance, financial policy, for theenterprise innovation escort.The innovations of the thesis analysis of R&D investment impact onenterprise’s value from two aspects and choosing small and medium-sized listingCorporation as the sample. There are still some problems of course, small andmedium-sized listing Corporation data after screening, the sample is limited,which may have some impact on the research results, then the disclosure of R&Dinformation is not standardized, the research of this paper may be effected. Thereare many research methods about input and output, and innovation and enterprisevalue has been paid more and more attention, I believe that there will be moreand more scholars focused on R&D investment impact on enterprise’s value inthe future.