Empirical Research On The Impact Of R&D Investment In Automobile Manufacturing Industry On The Corporation Growth

Since technology has been seemed as a factor of production in research field, it is constantly causing the concern of all circles. Especially in the contemporary society, science and technology change rapidly, technology attracts much attention, technological innovation is considered as the source of enterprise to develop and remain competitive. And R&D input has gradually attracted the attention of scholars and enterprises, becoming an important research object of the study on enterprise’s growth.Automobile manufacturing industry, an important pillar industry of our country, almost hasn’t been valued in relevant research field. After the rapid development, environmental protection, restriction and other problems come one after another. Coupled with the impact of the financial crisis, China’s automobile manufacturing industry’s development situation becomes increasingly severe. In this complex external environment, the importance of technical innovation of enterprises is particularly significant. Enterprises in the fierce competition, seek to survive and develop in the difficult environment have to enhance the core competitiveness. Technological innovation as the source of the core competitiveness of enterprises has been paid much attention. Therefore, the study on the influence of R&D investment to the growth of enterprises has important theoretical and practical significance.Taking the automobile manufacturing enterprise as the research object, using 2009-2013 yearly data, this paper empirically studies the effect of R&D investment on corporation growth. Firstly, establishing comprehensive enterprise growth index system, using the factor analysis method to obtain the multi-stress as Growth to measure the growth of enterprises; secondly, establishing the multiple regression model, using the least square method to test the effect of R&D input on corporation growth. The results of the study show that, R&D investment of China’s automobile manufacturing enterprises has a positive role in promoting the growth of enterprises, and has a lag in time.Finally, based on the research conclusion, relevant suggestions on China’s automobile manufacturing enterprises, governments and institutions, investors are put forward. China’s automobile manufacturing enterprises should improve the consciousness of innovation, increase investment, improve the sensitivity of R&D to establish the market, set up a reasonable scale of R&D personnel, and also should take the post investment of R&D activities very seriously; the government should encourage enterprises to innovate and increase R&D input, consummate the system of related legal laws and regulations, in the meantime, standardize the R&D input data disclosure; investors should be more rational and look at the enterprise R&D investment and technological innovation activities, pay more attention to the enterprise R&D investment related information.