An Empirical Study On The Impact Of R&D Expenditure On Firm Performance Under Absorptive Capacity Regulation

In the era of knowledge economy,the market competition is fierce,the scientific and technological innovation is quickened,and if enterprises want to survive and develop,they cannot do without the research and development activities of enterprises,or R&D activities of enterprises are to enhance the core competitiveness of enterprises of and increase their market share.In this paper,the effect of absorptive capacity in the relationship between R&D investment and enterprise's performance is preliminarily demonstrated.First of all,this paper combs the domestic and foreign R&D expenditure and corporate performance relationship,absorptive capacity research literature,to the present situation of this study has a full understanding.The concepts of absorptive capacity and firm performance are defined,and the research hypotheses are put forward by theoretical analysis under the new economic theory.The impact model of the R&D expenditure on enterprise performance and the model of the relationship between R&D expenditure and enterprise performance are constructed.Finally,the sample data are collected and the research variables are selected.On the basis of descriptive statistics.The positive hypothesis is verified by regression analysis.Finally,some policy suggestions are put forward.The empirical analysis shows that R&D expenditure is significantly positively correlated with firm performance,and absorptive capacity has a significant impact on firm performance in R&D expenditure.Linear regulation: absorptive capacity plays a regulatory role in the impact of R&D expenditure on the net interest rate of assets,is a pure adjusting variable and plays an enhanced role,and absorptive capacity plays a moderating role in the impact of R&D expenditure on asset turnover and is a pure adjusting variable and plays a weakening role in the impact of R&D expenditure on asset growth rate,is a semi-regulatory variable and plays an enhanced role;absorptive capacity plays a moderating role in the impact of R&D expenditure on asset growth rate;absorptive capacity plays a moderating role in the impact of R&D expenditure on the ratio of in tangible assets,is a semi-regulatory variable and enhances function.