Study On The Relationship Between R&D Investment And Growth Of New Energy Listed Companies

Under the current competitive environment and development speed of the new era,how to maintain the sustainable development and continuous growth of enterprises is a problem that every company must consider,the innovative research and development activities are generally regarded as the basis and source for cultivating core competitiveness and achieving growth and development.The development and application of new energy has become the focus of global attention.Accelerating the promotion and application of new energy has become a major strategic choice for countries to cultivate new economic growth points.The direction of resource-oriented technology is different from the traditional energy industry.Important features.In the long run,sustainable development of the industry requires strong stamina.If you do not rely on larger-scale R&D and innovation,it is still a problem for companies to maintain their competitive advantage.As the core of the industry,exploring the relationship between R&D investment and growth of new energy companies has great practical significance.Firstly,This paper reviews the existing literature and concepts,and provides a general overview of the current research status.Based on this,combined with the relevant theoretical basis,it puts forward reasonable assumptions about the relationship between variables,and builds the relationship between R&D investment and corporate growth.The research model then introduces the innovation ability as a mediator variable,and gradually constructs a model of R&D investment,innovation ability and enterprise growth relationship,and then introduces the concentration degree of equity and the nature of equity as the adjustment variables to expand the analysis and construct its relationship model.Based on the data of new energy listed companies from 2013 to 2017,the comprehensive analysis of enterprise growth indicators was established by factor analysis method,and the empirical hypothesis was carried out through descriptive analysis,correlation analysis,multiple regression model and quantile regression.The main conclusions of this paper are as follows:First,the R&D investment of new energy listed companies has a positive impact on the growth of the company,and has a positive impact on the growth of the company under two different measurement dimensions of R&D investment.Secondly,the innovation ability is There is a mediating effect between R&D capital investment and enterprise growth,which plays a role of link transmission.Then,in terms of corporate governance,equity concentration plays a positive role in regulating the relationship between R&D investment and corporate growth,and the nature of state-owned shares plays a negative role in regulating its relationship.In the end,the results of the number of regressions show that when the company is in a low growth stage,the impact of R&D investment on the growth of the company is more effective.