An Empirical Study On The Impact Of Innovation Input On Firm Value

Under the circumstances of global economic integration,innovation leads the development of enterprises.Most of the developed countries regard science and technology innovation as an important development strategy,and put innovation investment as the driving force to promote the development of national economy.China has gradually realized the importance of innovation.In recent years,the State Council issued a number of documents to strengthen support for enterprise innovation strategy.In the favorable circumstances of the macro environment,how to arrange the input of innovation to promote the development of enterprises and increase the value of enterprises,which is especially important in the fierce competitive environment.In the study of the impact of enterprise innovation input on enterprise value,most of them use R&D expenditure as the input of innovation,but a single R&D expenditure information cannot fully reflect the enterprise's innovation behavior.In this paper,we will choose the multi dimension index to measure innovation input.The full disclosure of accounting information has a key influence on the evaluation of enterprise value,however the disclosure of information is also focused on the disclosure of R&D information.In addition,although the international accounting standards of accounting information disclosure of enterprise innovation behavior that can be self-disclosure,which led to some of the enterprise accounting information disclosure for innovation is not very standardized.This paper will give some suggestions to the accounting information disclosure.Based on the previous research,the asset specificity theory,stakeholder theory and enterprise value maximization theory by combining multiple elements of enterprise innovation based on the perspective of selection of R&D investment,R&D personnel,knowledge input and differentiated input to represent the input of innovation,through normative research and empirical the research,using multiple regression equation model to investigate the impact on the enterprise value innovation of computer communications and other electronic equipment manufacturing industry listed companies.The study found that: computer communications and other electronic equipment manufacturing industry listed company R&D investment,R&D personnel,knowledge input and differential inputs are conducive to the promotion of enterprise value,and there have lag effects for one year and cumulative effect.Finally,according to these conclusions,this paper puts forward some suggestions on the innovation behavior of enterprises and related accounting information disclosure.