The Performance Appraisal Of R&d Investment Of Listed Biological Pharmaceutical Enterprises In China

In the knowledge economy era,the enterprise gradually realizes the importance of developing research activities and technological innovation on enterprise's survival and development.Along with the increasing in researching investment,research spending becomes one of the most enterprise's important regular spending.For biological pharmaceutical enterprise,research and development activities play a central role in forming core competitive force of the enterprise,research activities and related information can directly reflect technical strength level,high-tech content and development prospect.So making objective evaluation of the relationship between biological medicine of the listed company of R&D investment and R&D performance has significant meaning in achieving the effective management,and strengthening management and improving the economic benefit of research activities.This paper discusses the correlation between biological medicine R&D investment in the listed company and corporate performance and explains the empirical results,and put forward on advices of our biological medicine enterprise R&D investment.The article is divided into five parts.The first part:introduction.This part introduces the background,significance,objective and the frame,innovation of research in this paper.The second part:the literature review.Firstly introduced the concepts and characteristics of research and development spending,and then illustrated the results of researching in the correlation between expounds on research and development input and R&D performance.Part 3:Illustrating related theory of research and development input and the R&D performance evaluation.Summarize the concepts of research performance evaluation and the current situation and index selection of the relationship between China's biological medicine manufacturing enterprise research and development input.Part four:the design and analysis.First,put forward the hypothesis,design model,and introduces the data sources and sample selection,and then apply the data,which collected and screened from annual report and processed by using EXCEL office software,into the model.Using SPSS statistical software process empirical analysis,get the empirical results and analysis.Part 5:research conclusions and recommendations.First of all,the author obtained the conclusion of this paper according to the empirical results,and then presented suggestions to our country biological pharmaceutical listed company R&D investment.The author suggests the government increase the guiding force of enterprise development,promote enterprise correctly understand the importance of the development of R&D investment.Biological medicine enterprise to increase technology innovation activities,and adjust R&D investment structure by combining the characteristics of industry to improve the performance of the research and development activities.At last this paper puts forward the research defects.This article use 37 house born in China by biological pharmaceutical listed companies as samples after screening,and use the data from 2008 to 2010 fiscal year for empirical research method,to analysis the relationship between research investment and research performance from profits ability,growth ability and innovation these three aspects by defining the fund's investment intensity,government support degree,technical personnel proportion index as explained variables,and main business profit margins,capital accumulation,technology assets ratio as be explained variables.Finally the paper get the following conclusions:the reflection of the influences of biological pharmaceutical research input on R&D performance is a gradual process;The performance of existing R&D input appeared behind time;R&D investment and enterprise's main business profit margin behaves highest correlation degree;The influence of material support for the R&D performance is greater than human input's.Based on this research conclusion,the author puts forward some suggestions:on one hand,increase the government incentives for science and technology enterprise technology innovation efforts;On the other hand,strengthen enterprise of R&D investment,adjust the R&D investment structure,strengthen the ability of transfer research achievements into real productive forces.The research methods and conclusions proposed by this paper,not only promote our country biological medicine correct understanding of R&D investment in the listed company,but also offer valuable empirical analysis on enterprise research and enhancement of their core competition ability.This paper contribution:one is ruled out the affection of structure difference among industries to our results as biological pharmaceutical analyzed separately;The second is this paper analysis data of 2008-2010 years based on new intangible assets standards,with strong practicability and reliability;The third was adopted comprehensive index method to R&D investment in the performance analysis.This paper still has some limitations:one is the sample size restrictions.This paper chooses the biological pharmaceutical data for research at the purpose of removing the differences among different industries.As R&D input information disclosure is not complete,so the author only get data from 2008-2010 of 37 enterprises after screening that there will be hard to avoid the doubts of sample data representative.The second is that the explanation of variable is not comprehensive.Enterprise's investment in research mainly includes material input,manpower,creative thinking and other various factors,but none of them can be quantifies as they are very creative,and so the index selected by this paper can't make comprehensive measure of enterprise's investment in research.The performance of the enterprise can be affected by management factors,organization structure factors,equity structure and many other factors,so R&D investment is just one among most important influences factors of the company performance.This study only represent the relationship between enterprise development funds,government support,technical manpower capital investment and their performance,which does not mean these factors play crucial role in R&D performance.The author suggests further quantitative research on the contribution degree of biological pharmaceutical enterprise financial investment,human capital investment on R&D performance in the future.