| Manufacturing industry is the foundation of economic development,the strength of the country and ethnic affiliation can not be separated from the strength of the manufacturing industry.Today,with the rapid development of science and technology,China's manufacturing industry needs to be innovated by science and technology.The State Council Executive Meeting was reviewed on March 25,2015,and passed the “Made in China 2025”,which reflects the importance our government attaches to manufacturing,especially manufacturing technology innovation.For enterprises,the company's growth has always been the focus of the company's attention.In today's extremely fierce market competition,manufacturing companies want to maintain their own market share and improve their core competitiveness,they should actively innovate in science and technology.Therefore,investment in R&D has played a pivotal role in the improvement of the country's overall national strength and the development of enterprises.In recent years,scholars' attention on R&D investment has also greatly increased.However,the relationship between R & D investment and the growth of enterprise has been inconclusive.This paper first introduces the relevant theoretical basis and analyzes the innovation policy environment of our country.Starting from concepts and theories,combined with China's policy environment,R&D team input intensity,R&D budget input intensity,and government subsidy strength are selected.The analysis of corporate growth theory,the growth rate of net profit and total asset growth rate are selected,and then the hypothesis that the R&D investment index of manufacturing companies correlates the growth indicators of the company are proposed,and multiple regression model is established.Through the selection of relevant data of China's manufacturing listed companies from 2012 to 2016,SPSS 22.0 is used to analyze the data,and test the significance of proposed hypothesis.Through empirical analysis,the research conclusions are drawn.The conclusions indicate that the intensity of R&D expenditure,the input intensity of R&D teams,and the strength of government subsidies of manufacturing companies have a positive impact on the growth of enterprises and they are lagging behind.Based on the analysis of the empirical conclusions,the suggestions are put forward from two angles of the enterprises and the government.Enterprises should appropriately increase the intensity of investment in R&D,maintain the sustainability of R&D investment,and they should pay attention to R&D of human resources.Relevant government departments can establish evaluation systems for corporate R&D projects,increase support for qualified R&D projects to help corporate innovation. |
