The Effect Of Quality Corporate Financial Accounting Information On R&D Investment Efficiency

China’s economic development has entered a new normal,improve the efficiency of R&D investment,micro help Chinese enterprises to gain an advantage in the global competition, macro conducive to China’s economic restructuring and upgrading.Whether inside or outside the enterprise,financial accounting information is an important window to understand the enterprise,impact on investment and financing behavior of enterprises.This paper attempts to investigate the efficiency of R&D investment from the perspective of the quality of financial accounting information.This paper reviews the financial accounting information utility theory,Investment theory and asymmetric information theory. Summarized and reviewed the past scholars for corporate financial accounting information quality and efficiency of investment in R&D related research. According to the relevant theory and literature,articles from financial constraints under adverse selection,agency costs under the principal-agent problem and the concept of decision-useful financial information,build quality corporate financial accounting information influence the efficiency of R&D investment theoretical path.Then,this paper analyzes the current situation of the quality of corporate financial accounting information and efficiency of R&D investment,find financial accounting information quality and efficiency of R&D investment of Chinese enterprises have yet to be further improved.Furthermore,GEM listed companies as samples,article select the 2009-2014 years of relevant R&D investment and financial data,reference Jones (1991) model and Richardson (2006) Residuals measurement model separately for the company’s financial accounting information quality and efficiency of investment in R&D were measured.On this basis,apply the OLS econometric analysis methods.Results of this study show Improve the quality of financial accounting information will help to improve the R&D investment efficiency.At last,this article from the internal and external oversight two perspectives are proposed to improve the quality of corporate financial accounting information policy recommendations.