An Analysis Of Operation Achievement Based On Firm Size And R&D Investment Of Listed Companies

Nowdays,political and economic patterns change with each passing day.Politically,the black swan events such as “Brexit”,the escalating conflict between Korea and North Korea occurred occasionally.Economically,Opec production cuts,U.S.-led economic returns,the degree of global economic recovery doesn't as good as expected.Faced with such serious global political and economical pattern,We cannot develop our economy stability,In order to change the current adverse situation,our country put forward the strategy of the supply side of the reform,and the most important way to achieve the strategic goal is to integrate the existing resources of our country,promote the enterprise's scientific and technological strength of our country.The promotion of scientific and technological can't do without the increase of R&D into scientific research.How to convert R&D into scientific research effectively and form a long-term mechanism are the problems which should be researched.So this paper tries to use the relevant data of the R&D investment and enterprise performance of listed companies to empirical analysis.Through analyzing the listed company size and R&D input and profitability indicators,the results are as follows.The improvement of R&D investment in the listed companies can enhance the core competitiveness of enterprises under the rational scale of enterprise,thus it has a promoting effect to improve business performance.The enterprise performance improves with the increase of R&D.At the same time,the enterprise's R&D investment has hysteresis effects on business performance.In addition,due to different industry characteristics,R&D do benefits to the company may suffer different lag phase.Besides,the enterprise size will affect the rate of return on R&D activities.If the enterprise scale is too large,R&D investment won't achieve the expected economic benefits.According to the conclusions of this paper,it is recommended that enterprises should combine itself with industry to establish a long-term scientific research implementation strategy when they are carrying out scientific research activities.Government departments need to strengthen intellectual property protection further and ensure that the enterprise research and development of enthusiasm,and coordinate the relationship between scientific research and monopoly.At last,the government also need to provide policy support to the research risk and R&D subsidies of the enterprise.