Study On The Moderating Effect Of Technical Systems On The Relationship Between R&D Investment And Enterprise Performance

Fast forward with technological era, enterprise innovation activities play an important role in the promotion of its performance and development of the whole country. R&D as the necessary conditions for development and continuous innovation activity, can help enterprises to gain more profit, and make the enterprise take more advantage of market position? Scholars have carried on the multiple perspectives, the deep theoretical analysis and empirical study, and the conclusions of exampling a particular industry are not consistent. What kind of transmission mechanism in the different industries to affect the relationship between R&D investment and enterprise performance? Scholars began to consider the rest of the variables which may interfere with the relationship between the two variables, and proved the relationship between R&D investment and enterprise performance under the different condition of internal and external management by introducing moderating variables. The moderating variables in the existing literature are mostly enterprise scale, financing environment, corporate governance, industrial differences, and scholars’ research results especially in industrial differences show that the impact of R&D investment on enterprise performance is different in different industries. Technology system describes the learning process of enterprise innovation activities and important economic characteristics, providing a new framework to analyze of the differences between different industries. But the research about the impact of R&D investment on enterprise performance from the perspective of technology system is few.Using 2014 manufacturing category of industry categories as the research sample, technical system can be divided into technical opportunities, knowledge spillover, knowledge characteristics, and the degree of technological progress accumulation. This paper analyzes the moderating effect of technical systems on the relationship between R&D Investment and enterprise performance using the method of hierarchical regression, trying to analysis whether there is a difference between R&D investment and enterprise performance in different technology system. The result shows:(1)The more technical opportunities in the industry, the more benefit companies can obtain from the research and development activities in return;(2)The smaller degree of industry knowledge overflow, enterprises can gain more return from R&D investment more easily;(3)R&D Investment can be easier to create profits for the enterprise in Slant applied science industry;(4) The higher degree of technological progress accumulation, the more significant influence of R&D investment on business performance.The conclusion proved the moderating effect of technical systems on the relationship between R&D Investment and enterprise performance, which is helpful to our deeper understanding of the difference influence of R&D investment on enterprise performance, so that the enterprise can input R&D investment according to the actual situation of industry, and then enhance market competitiveness.