Research On The Effectiveness Of R&D Investment Of Semir Based On The Financial Performance

With China's economic development step into the “new normal”,the enterprise's external competition is becoming increasingly fierce,and the development is more uncertain.Enterprises have increased the dynamics and intensity of R&D innovation.It is generally believed that enterprise technology innovation has become the driving force for enterprises to advance;research and development activities have become an important part of corporate strategy,which greatly improving the economic efficiency of enterprises.The one whose R&D results is more significant will be able to stand at the forefront of the times and get the initiative to lead the development of the industry.Based on the previous studies.First of all,the paper makes the theoretical analysis of the connotation and mutual influence mechanism of R&D investment and financial performance.Then,the existing circumstances of the R&D investment and financial performance of Semir have been analyzed deeply.After,the relevant data of audit report as the research sample.Select eight financial indicators and use the principal component analysis to create the dependent variable.Select and measure the R&D cost intensity and strength of researchers as independent variables,introduce the control variable,also make the multiple linear regression model.Besides,explore the effectiveness of R&D investment based on the financial performance,carried out the empirical study by Pearson correlation test,regression analysis and hysteresis test.The research show that R&D cost investment is significant,financial performance is positively correlated with R&D cost intensity and R&D spending has lagging effect.The lag period is only one year and the impact intensity begins to weaken.The effectiveness of R&D human investment isn't obvious,and R&D human intensity input can't promote the financial performance.In addition,the GDP growth rate is positively correlated with financial performance of the current year,but intensity is significantly weaker than R&D expenses.Finally,according to the results of positive analysis,this paper put forward some suggestions on optimization for four aspects of management strategy which about R&D cost,human resources,production operation and marketing to improve R&D efficiency,in order to stimulate the growth of financial performance and provide the valuable reference for strategic management to Semir.