| With the implementation of China's innovation-driven development strategy and the arrival of big data era,the transformation and upgrading of enterprise is imminent.Transportation logistics enterprises are facing the transformation from labor-intensive and capital intensive traditional industries to knowledge intensive modern industries.In order to improve the competitive advantage of enterprises and realize sustainable development,scientific and technological innovation becomes one of the key tasks of transportation logistics enterprises.As a source of new technology,new ideas and new management system,the development of research activities is particularly important.Some achievements have been made in the R&D investment of some transportation logistics enterprises in China,and the results of R&D are gradually applied in practice.The condition of R&D investment and its impact effect on the growth of business performance is noteworthy.Therefore,the 90 listed transportation logistics enterprises in our country are chosen as the research object during the period of 2011 to 2016.In order to use the DEA method to analyze the performance difference between R&D enterprises and non-R&D enterprises,the listed transportation logistics enterprises are divided into the R&D group and the non-R&D group according to whether the R&D investment index data is zero.Then,in the case of inclusion and exclusion of the R&D investment,not only the performance changes in R&D enterprise for six consecutive years are analyzed by making a model of the super efficiency DEA,but also R&D contribution rate is calculated.And Wilcoxon signed rank test is used to analyze the significance of performance differences to reveal the sensitivity of enterprise performance to R&D investment.Thus,the effect of R&D investment on enterprise performance is obtained from numerical comparison.According to the whole research time,the fixed-effects variable-intercept model of 29 enterprises' R&D performance panel data for 6 consecutive years is build by mathematical statistics.The model is estimated by the ordinary least square method to examine the substantial impact of R&D investment on corporate performance.According to the above research,whether R&D investment has substantially promoted the improvement of performance or merely on the surface is verified.The results show that although the overall performance of listed transportation logistics enterprises is in a good state and presents a steady growth trend,the enterprises with invalid DEA are still in the majority.The reason of low enterprise performance is mainly related to the poor scale efficiency.The overall enterprise performance level of the R&D group is greater than that of the non-R&D group,and the number of its enterprises is on the rise in general,but the trend of its performance change is not stable and the fluctuation range is large.Non-parametric test confirm a conclusion that the performance level that includes R&D investment index is significantly different from those not included.The conclusion shows that enterprise performance is significantly sensitive to R&D investment.However,the contribution rate of R&D investment is generally low but heterogeneity is high.The estimation results of the fixed-effects variable-intercept model of the R&D performance panel data show that the R&D investment of the transportation logistics enterprises in China has a significant positive impact on the enterprise performance from two aspects of the enterprise and the industry.The results show that R&D investment is effective and its effect on the improvement of performance is strengthened.In other words,R&D investment has substantially promoted the improvement of performance,and then caused its numerical changes.However,the overall impact of R&D investment on corporate performance is weak,which indicates that the positive contribution of R&D to corporate performance growth isn't high enough,and the performance of R&D investment is still to be improved. |
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