A Research On The Correlation Analysis Between R&D Investment And Firm Growth

Under the background of economic globalization,the international competition continue to intensify,competition in the market have to facing serious challenges.At the same time,in order to improve the industry's core competitiveness,China's "The Twelfth Five-year Plan" had clearly presented and stressed that enterprises should constantly to carry on the transformation and upgrading.The change of competitive environment and the policies of the government to urge enterprises to take corresponding measures to deal with,on the basis of the research and development activities of technological innovation by focusing on at the historic moment.At present,for most R&D and growth correlation studies focused on high and new technology industry,rarely involve the research for the traditional industry.But as the creation of new accounting standards,making the disclosure of the information about the traditional industry R&D activities have changed,this offers the possibility to study.For these reasons,this paper hopes to study the correlation between the R&D activities and enterprise growth of the iron and steel industry,to do a little contribution to the development of China 's traditional industries.Based on research and summarizes the research achievements of domestic and foreign scholars,comb the enterprise growth theory,science and technology innovation theory,core competence theory and the theory of human capital,build the influence mechanism of R&D activity to firm growth and lay the theoretical foundation for this study.This paper selects the steel industry listed companies in China as the research object,gather the report data between 2011-2011,carries on the descriptive statistics and multivariate linear regression analysis.Followed comparison and analysis the growth,R&D investment,R&D efficiency and the research achievements between Baoshan and Hebei,to confirm the results of the empirical research.Finally come to the conclusion: first,the level of R&D investment of the steel industry listed companies in China need to continue to maintain and strengthen;Second,R&D spending act as a positive role to growth in the steel industry listed companies in China;Third,the people investment of R&D act as a positive role to growth in the steel industry listed companies in China.And then puts forward relevant policy recommendations,summarizes research limitations of this paper,and also points out the future research direction.