| Today, technology innovation for the countries all over the world are of great development, but also promoted the progress of human society. Widely agreed that technology innovation is very important to a country’s development, technology innovation become the main weight of countries all over the world to participate in international competition, the strength of the international competitiveness more reflect on the content of science and technology, technology innovation has become an important power of ec onomic growth. From the micro level, the improvement of technology innovation can make the product differentiation to improve the competitiveness of the enterprise; The improvement of technology innovation to optimize the quality of existing products, reduce production cost so as to improve the economic benefit of enterprise. From a macro level, the improvement of technology innovation can promote the development of emerging industries, only constant technology innovation innovation enterprise can survive for a long time, enterprise maintain competitive advantage through technology innovation and constantly seek development opportunities; Technological innovation is one of the important ways to achieve high quality economic growth in China, for a long time due to conditions in China have high resource consumption, environmental pollution and economic benefits are relatively low industrialization, compared with the developed countries, the same amount of resources and create more wealth. So our country go low resources consumption, little environmental pollution and high economic benefits of a new road to industrialization must rely on technological innovation to improve. However, science and technology enterprise technological innovation must depend on r&d, r&d investment is the main part of technology innovation.This paper mainly study the effect of r&d investment on corporate earnings performance: technology innovation output as intermediary variables, to science and technology enterprise as the research object, the gem check gem listed companies during 2009-2009 annual report and collect the relevant data, r&d input indicators divided into r&d capital strength and research and development of human strength, patent application for the enterprise technology innovation output indicators, earnings performance indicators are divided into main business profit margins, will arrange and collect the relevant data from the gem listed companies linear regression analysis, explore the gem r&d investment in science and technology enterprises, technological innovation output and the existence of the conduction path between earnings performance.Through to the gem 37 science and technology enterprises in 2009-2013 to collect data to carry on the empirical analysis, this paper conclude that research and development of human strength, research and development, capital strength and corporate earnings performance show significant positive correlation, increase r&d manpower and capital investment can effectively improve the profit of enterprises performance; Research and development of human strength and r&d capital strength effectively improve enterprise’s technological innovation output, r&d human strength and r&d capital strength and technical innovation output was significantly positive correlation, and through the test of significance; R&d input, technology innovation output has a significantly influence on corporate earnings performance, technology innovation output has partial intermediary role, r&d through technical innovation output part affect earnings performance; Output of technological innovation and corporate earnings performance, there is significant positive correlation between patent application number and earnings performance are related, and through the test of significance. |
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