Analysis Of The Impact Of Business Risk On R&D Input From The Perspective Of Industry Innovation Capability

With the increasing development of the global economy,the major economies are beginning to emerge the trend of knowledge based economy and knowledge industrialization.Science and technology research and other soft power competition is called the new competitive field of the big economies,which makes science and technology innovation more and more valued by all countries.As a microcosmic main body of R & D innovation,the research of R & D investment behavior is a major focus of academic circles in recent years.Scholars at home and abroad have made in-depth research on R & D investment from aspects of corporate governance,internal control and external factors,and achieved fruitful results.Based on the research of scholars both at home and abroad,combined with the internal and external factors that influence R & D investment,from the perspective of industry innovation capability,we choose GEM listed company data to analyze and analyze the relationship between business risk and R & D investment.This paper has combed the research literature on the relationship between industry innovation ability,risk management and investment in research and development of the three:the research of scholars at home and abroad,Never mind direct study of business risk and investment in research and development,but will run the risk of scholars generally reflect the flow level,from the business situation of cash cash holdings and the profit level decomposition to study the R & D investment,external factors,more and more researchers will industry factors as a variable factor to research of the relationship between the R & D investment,and draw different conclusions.In this paper,based on the existing literature,selected 2014~2016 China's GEM listed companies three years 1150 sample data,according to the high technology industry classification of the National Bureau of statistics,divided into high technology industry and general industry of the 40 industry selection,the industry innovation ability as the interaction variable,fully demonstrated in the industry's innovation ability,the relationship between risk management and investment in research and development of the enterprise.By constructing the regression model between the industry innovation ability,risk management and investment in research and development of the three,this paper draws the following conclusions:(1)there is a significant negative correlation between risk management and investment in research and development of enterprises,namely the management risk of the enterprise more R & D investment is small;(2)industry innovationability and enterprise development put a positive correlation between changes in the industry,enterprise innovation capability is strong,the company's own R & D investment also increased;(3)when the introduction of industry innovation capability as a moderator and risk adjusted interactive display,industry innovation capability of high tech industry adjustment effect is significantly higher than that of general industry.Finally,the conclusion of this paper is to put forward the corresponding theoretical countermeasures for the problems facing the enterprises at present.