Analysis Of The Impact Of Technological Innovation Investment On Operating Performance Of Listed Companies In China's Material Automotive Parts Manufacturing Industry

In recent years,China's auto parts manufacturing market has been affected by the downturn in the macroeconomic situation,and the development trend has slowed down.To maintain development in such an environment,we must actively change the passive model,conform to the trend of the times,grasp the consumption trend,and closely combine its own advantages to clarify the importance of component manufacturing enterprises in the process of building a resource-based,economical and innovative society.Responsibility and active technological innovation.In view of the fact that China's auto companies started late and the core technology of key parts of automobiles did not really grasp the situation,this paper analyzes the status quo of technological innovation investment of listed companies in China's auto parts manufacturing industry and its impact on business performance,in order to be able to China's auto parts manufacturing enterprises provide certain reference for technological innovation.This paper firstly analyzes the status quo of technological innovation of listed companies in China's auto parts manufacturing industry,and then selects relevant indicators in the Cathay Pacific database through the coincidence part of the Huashun website and the Sina Finance section for the auto parts business,and then establishes the econometric economy.The model is used to empirically study the impact of technological innovation investment on the business performance of listed companies in China's auto parts manufacturing industry.Based on this,combined with the status quo of technological innovation,the paper proposes the technological innovation strategy of listed companies in China's auto parts manufacturing industry.Specifically,the first chapter expounds the research background,significance,and other aspects.The second chapter mainly reviews the literature from the aspects of technological innovation and the concept of business performance and their relationship.The third chapter is the mechanism analysis and research hypothesis of the impact of technological innovation investment on business performance,and deeply and clearly analyzes the path of technological innovation on business performance,then put forward the research hypothesis of this paper.The fourth chapter analyzes the current situation of technological innovation of listed companies in China's auto parts manufacturing industry.The fifth chapter is based on the annual report data of listed companies in China's auto parts manufacturing industry.Applicable to listed companies in China's auto parts manufacturing industry,such as Baling Technology and Fuyao Glass,the proportion of the research and development funds invested in the income,The R&D personnel possesses a proportion of the total number of employees to the changes in the comprehensive indicators of business performance.Among them,cash strength,asset-liability ratio,equity concentration and operating income growth rate are used to measure the business performance control variables of the enterprise.The sixth chapter provides countermeasures and suggestions for China's auto parts manufacturing enterprises to further enhance the level of technological innovation based on the previous relevant analysis.The research results show that technology innovation investment will affect business performance mainly through financial dimension of profitability,operational capability,development capability and solvency,and non-financial dimension of market share,customer satisfaction,brand value and social responsibility..As far as the research object is concerned,the R&D capital investment has a negative impact on the current operating performance of China's auto parts manufacturing enterprises,but it is not significant.This may be due to the crowding out effect of the current R&D expenditure,which has reduced the company.Expenditure expenses of other business activities,while R&D expenditures have a relative lag,which leads to the failure to reflect the contribution to business performance in the current period,which in turn has a negative impact,but soon this negative impact disappears and turns into a business performance The positive impact indicates that R&D funds promote the improvement of business performance;the higher the proportion of R&D personnel in the total number of employees,the more unfavorable the accumulation of current business performance,the impact on the performance of the next period is still significant,which may It is because the input of R&D personnel brings redundancy in organizational management,which increases the management cost of the enterprise.It may also be due to the limitations of the R&D personnel input measurement indicators,which can not reflect the business performance of the enterprise well;After the period,the negative impact turns into a positive impact,indicating that the investment of R&D personnel will eventually bring business efficiency improvement.It is suggested that the government can continue to increase expenditure on research and development,especially in the auto parts manufacturing,improve the patent protection policy for enterprises,and strive to cultivate relevant talents to create conditions for the clustering of auto parts industry.In addition,enterprises should face up to the time lag of R&D investment on corporate performance,rationally arrange capital and resource input,adjust the shareholding structure,establish a reasonable talent selection mechanism,promote the absorption and transfer of core component technology,and strive for domestic production of key components.