An Empirical Study On Asset Specificity And The Performance After Horizontal Merge And Acquisition

Innovation is an important part of the achievements of labor,is the milestone of the development of productivity,is the leading factor in the development of social economy,but also the source of forming scale benefit.Now,technology innovation relies on the research and development activities.Direct economic efficiency of enterprises growth,higher market sales ability,product manufacturing capability enhancement is inseparable from the research and development personnel of innovation activities.So how to improve the professional research and development personnel's innovation ability is becoming more and more become the enterprise be solved the problem.While China's transformation from a manufacturing superpower to a creative country road,increase investment in research and development,improve the research and development ability,cannot be ignored.This article mainly uses the research methods of empirical research combined with normative analysis,with high and new technology enterprise of jiangsu province as the research object,and selected the 1719 high-tech enterprises from 2011 to 2013,the R&D input data and relevant financial indicators,using panel data model,using SPSS statistical analysis software and multiple linear regression model,index of investment in high-tech enterprises in jiangsu province and business performance indicators and correlation statistical analysis to find them if there is a relationship between investment and business performance.R&D input is testified by empirical research play a promote role to enterprise's performance as well as to the R&D input in how to play a role in corporate earnings link are proposed.In this paper,the research conclusion,for an enterprise to shift in consciousness,increase investment in R&D has a guiding role,also on how to increase enterprise R&D input and productivity of the implementation of the research and development ability can be converted to Angle in order to improve our country enterprise profit ability,growth ability has a promoting effect.