A Study On The Relationship Between The Political Connection,R&D Intensity And Enterprise Performance Of Listed Manufacturing Companies In Northeast China

China's economic development has entered a new era.Although it has developed from a high-speed to a medium-high speed,the driving force of economic growth is still very strong.In recent years,the situation in northeast China,once the leading region of development,is not optimistic.The development of the three provinces in northeast China also lags behind that of other regions.In the manufacturing industry of northeast China,a series of important industries,such as automobile manufacturing,aerospace equipment manufacturing and petroleum processing,also play an important role.Therefore,this paper focuses on the manufacturing industry in northeast China,and through the analysis of the political association of enterprises,discusses the effect of political association on enterprise performance,and analyzes the intermediary effect of research and development intensity.This paper clarifies the theoretical and practical significance of the research by analyzing the economic development in northeast China.By reviewing the previous literature,we can understand the deep relationship between political correlation,research and development intensity and corporate performance.By selecting 68 listed manufacturing companies in northeast China from 2015 to 2017 as samples for analysis,the indicators such as political association,research and development intensity and enterprise performance are quantified.First,the general situation of listed manufacturing companies in northeast China is sorted out to understand the differences of different subdivided industries and find out the possible problems.Then,based on the literature theory,the hypothesis is put forward,the corresponding model is constructed,and the specific relationship is studied through regression analysis.Finally it is concluded that the northeast manufacturing long-term political association on business performance of listed companies on inhibition,northeast manufacturing listed companies political relevance to negative effect to the research and development strength,and the intensity of northeast manufacturing research and development of listed companies has a positive effect on enterprises performance,research and development strength in the political association plays the function of enterprise performance partial intermediary role.Then according to the regression results and on the basis of the theory for the government and enterprises to provide corresponding Suggestions for the economic development of northeast China to make a contribution.