Research On Effect Of Internal Control Factors On R&D Investment Intensity

Innovation is the source of enterprise survival and development.Introduction of new products,new processes and new technologies in production and operation activities of enterprises and so can be considered as innovative;the most representative of innovation behavior in R&D activities,intensify R&D investment is conducive to enhancing the core competitiveness of enterprises,thereby improving the enterprise value.However,during the R&D process of China's enterprises exist are a series of questions:R&D investment low,R&D awareness weak,Innovative environment and property rights system is imperfect.In order to encourage and guide enterprises to actively undertake technological innovation,the government has adopted a series of preferential policies,such as financial allocations,tax relief,government-led centralized procurement.But,the implementation of these measures exist congenitally deficient,palliative.It means that the implementation of the policy is limited to a large extent to improve the external environment of the enterprise innovation,and does not a fundamental solution to the underlying causes of the obstacle to enterprise technological innovation,system environment of the establishment and improvement of the internal control.With the successively promulgated of Basic Standards for Enterprise Internal Control,Enterprise Internal Control Guidelines,and Enterprise Internal Control Practice Note No.10-Research and Development,scholars who concerned about research and development of internal control has been some improvement.But,prior to the R&D investment from corporate governance visual has been theoretical exploration and empirical analysis,rarely involved in the study of internal control on the impact of R&D investment from an empirical point of view relevant literature.In view of this,the purpose of this paper is to construct between five factors of internal control and R&D investment with theory link,in order to verify the internal control as a whole whether it can effectively promote the company's R&D investment behavior,as well as five factors of internal control separately implement impact of R&D investment.Firstly,domestic and foreign scholars involved in R&D investment literature to read,analyze,organize and brief review,in order to extract the innovation of this paper and the entry point;Secondly,based on the principal-agent theory and asymmetric information theory to build the theory linking;Then,the proposed research hypotheses,design related research variables,listed companies from SMEB in 2010 as the object of analysis,building between the internal control five elements.internal control and R&D investment intensity the regression model;Finally,the proposed five dimensions of internal control and internal control test the strength of the correlation R&D investment,the empirical results show that:(1)Factor of the internal environment?information and communication factor?factor of the internal supervision has a significant role in promoting on the R&D intensity;factor of the control activity and R&D investment intensity of the relationship is negative,but the impact is very limited;factor of the risk assessment and R&D investment intensity relationship is not obvious;(2)Internal control as a whole and R&D investment intensity is 10%positive relationship.