Research On The Correlation Between R&D Expenditures And Corporate Growth Of Listed Companies In The Pharmaceutical Industry

In the era of knowledge economy,innovation is necessary for a country to ensure their long-term and stable development. IF an enterprise want to maintain its core competitiveness, it must provide a steady stream of resource to spend on research and development,and carry on a technology route,if an enterprise can go high-tech route,the enterprise must can provide a long-term and stable development. As R&D spending absolute quantity and R&D spending relative quantity of the pharmaceutical industry is high, combined with high investment, high risk and high return characteristics of the medical industry itself, studying R&D spending China's pharmaceutical industry listed companies impact on corporate growth has important theoretical and practical significance.This article discusses from three aspects,the meaning of enterprise growth,spending on research and development of enterprise growth mechanism and the influence of R&D spending to the enterprise growth correlation study. first of all,reviewed the literature on the relationship between R&D spending and enterprise growth, and summarizes the research achievements of previous scholars both at home and abroad. Secondly elaborated this article research the theoretical basis and the definition of related concepts, and provide theoretical basis for the following empirical research and data filtering scope definition. Thirdly in the empirical research, this paper is tested with three aspects, respectively from the selection of sample data, selection of variables indexes, the empirical hypothesis, using the factor analysis and principal component analysis(pca) to enterprise growth indexes comprehensive analysis. Finally set up a multiple linear regression equation to verify this hypothesis made by, explore the pharmaceutical industry listed companies the correlation between R&D spending and enterprise growth.At the same time, we provide some suggestions for the present and future of the pharmaceutical industry according to the result of empirical test.