Research On The Impact Of R&D Investment On The Performance Of Listed Companies In Software And Information Technology Services

As we all know,the overall industry that affects the development of the national economy and society is the software and information technology service industry.This industry is not only highly strategic,but also an industry with a leading role.At the technical level,the update is faster;at the product level,it has higher added value;at the application level,it involves a wide range and strong penetration;at the level of resource consumption,the level of consumption is relatively low;at the level of human resources,it can be fully utilized and Effective configuration.This industry can play an important role in supporting and guiding economic and social development.The continuous development and upgrade of the software and information technology service industry will accelerate the deep integration of information and industrialization,and will further accelerate the process of building an innovative country.At the same time,it has also paved the way for economic development and adjusted the industrial structure,thereby improving information security capabilities and the international competitiveness of the entire country.This article takes listed companies in the software and information technology service industry as research objects,and summarizes relevant literature on the relationship between R&D investment intensity and corporate performance and the impact of executive incentives on the relationship between domestic and foreign scholars through literature reviews.And research methods.Based on technology innovation theory,principal-agent theory,and incentive theory,the impact of executive incentives and R&D investment on corporate performance is further explored.Based on relevant theories,combined with the actual situation of the sample companies today,put forward reasonable assumptions and construct related research models.After screening and analyzing the relevant data of 138 A-share software and information technology service listed companies from 2016 to 2018,the SPSS software was used for empirical analysis.The results show that among listed companies in the software and information technology services industry,long-term equity incentives and short-term salary incentives for executives are significantly positively related to corporate performance,and R&D investment can promote corporate performance improvement;the existence of executive incentives will There is an impact between R&D investment and corporate performance.Executive incentives can regulate the relationship between corporate R&D investment andcorporate performance.Among them,long-term equity incentives for executives are positive adjustments,and short-term salary incentives for executives are negative adjustments.This research can help listed companies in the software and information technology services industry to increase their R&D investment efficiency,thereby increasing their own operating efficiency,and boost their competitiveness and value.At the same time,listed companies in the software and information technology services industry can focus on technological innovation R&D activities,appropriate increase of senior management's shareholding to play an incentive role,standardize the disclosure of listed companies' R&D expenses,and strengthen government supervision and other measures to improve corporate performance.