Research On The Influence Of R&D Investment Of Technology-based Listed Companies On The Value Creation Ability

Under the background of rapid economic globalization and artificial intelligence development,China has entered a period of economic growth and the development of high-tech industries has entered a period of "the 13th Five-Year Plan".Science and technology innovation has increasingly become the core force driving economic growth in all countries.Scientific and technological listed companies are an important force to improve the capability of scientific and technological innovation in our country.R&D activities are the source of their core competitiveness and the driving force for sustainable development.They are also the core driving force for enhancing the value creation of enterprises.Value creation ability reflects the ability of enterprises to create surplus value,which has a very important influence on the evaluation of business performance and profitability.At present,there is little research on the impact of R&D investment on the value creation of enterprises by domestic and foreign researchers.The article chooses the impact of R&D investment on value creation of science and technology listed companies as the research content,and makes an empirical analysis of the impact of R&D investment on enterprise value creation from three aspects:financial investment,human R&D investment and product R&D investment.The results show regardless of financial resources,human resources or product R&D investment have a positive impact on the enterprise value creativity,to obtain effective empirical results,from the source to study the enterprise's value creation ability,so it has certain theoretical and practical significance.The article chooses the impact of R&D investment on value creativity of listed technology companies as the research content.Firstly,it clarifies the concept and measurement of R&D investment and analyzes the mechanism of R&D investment on value creativity.After analyzing the status quo of R&D investment and value creation index of science and technology listed companies,according to the results of the status quo analysis,we designed the indexes of R&D investment and value creativity,and carried out the empirical statistics with descriptive statistics,correlation test and model construction analysis.Based on the existing research results,the R&D investment of enterprises is lagging behind.Since the lag period of the article selection is one year,the R&D data of science and technology listed companies in 2013-2015 are selected,while the other data are selected from 2014-2016 data.Empirical studies show that the financial value of creativity and market value of creativity and its R&D investment are positive role in promoting.According to the research results,it is proposed to establish the dominant position of R&D activities in the enterprises,to increase the investment intensity of R&D funds rationally,to attach importance to the leading role of R&D personnel,to increase the number of patent applications for R&D products and to increase government support for R&D investment,accordingly to improve the value of technology-based listed companies creativity.