Research On The Impact Of Technical Innovation Input On Financial Competitiveness Of Agricultural Listed Companies

In order to speed up the construction of the national innovation system,the State Council has issued Opinions on Deepening Science and Technology Reform and Speeding up the Construction of the National Innovation system,emphasizing the importance of technological innovation to the social and economic development.The reports of The 19 th National Congress of CPC point out that innovation is the first driving force for development and the strategic support for building a modern economic system.,and the enterprises are the most important bases for the innovation of technological achievements.Agriculture is the primary industry in China.Its development can not be separated from the support of science and technology,and agricultural listed companies as the leading force of agricultural enterprises,its technological innovation ability determines whether to promote the evolution and development of agricultural industry in China.However,at present,the agricultural enterprises still have more difficulties in technological innovation,such as the low level of technological innovation,limited innovation input capacity and weak capacity for innovation output,which seriously hamper the process of building an innovative country in China.On the basis of literature research,this paper constructs an analytical framework of innovation input and financial competitiveness,and puts forward research hypotheses combined with our country's national conditions.This paper selects 38 agricultural listed companies as the research sample,selects 19 financial indexes of enterprises from 2013 to 2016 to establish the evaluation index system of the financial competitiveness of agricultural listed companies.Through factor analysis,seven common factors are obtained as explanatory variables to reflect the financial competitiveness of enterprises.At the same time,R&D input costs and R&D technicians input were selected as the explanatory variables.Construct multiple linear regression model to test the hypothesis,and analyze the input of enterprise technology innovation.In addition,this paper also studies the influence of the nature of corporate controlling shareholders on the financial competitiveness of the company's technological innovation investment.The results show that the level of R&D investment and R&D technicians' input level have significant positive effect on corporate solvency,R&D investment level has a significant negative correlation with the profitability factor.However,there is no significant correlation between enterprise profitability factor and R&D technical personnel input level,while there is a positive correlation between R&D technical personnel input and operation ability.The investment of R&D cost has a significant negative correlation to the growth ability of enterprises.As a whole,innovation investment can significantly improve financial competitiveness.This paper further puts forward the following suggestions: The government should strengthen its efforts to support the listed public of agriculture;The agricultural listed companies should strengthen the consciousness of technological innovation,increase the investment of technological innovation and adjust the utilization of R&D funds moderately.