Research On The Relationship Between R&D And Financial Performance Of Electronics Listed Companies

In the reports of the 19 th National Congress of the Communist Party of China,it is clear that innovation is the top priority of the new development concept,and the core of national development.It is necessary to make innovation drive the first driving force for development.It can be seen that innovation-driven development has always been highly valued by the state.Computers,communications and other electronic equipment manufacturing industry(hereinafter referred to as the "electronics")is the representative of the high and new technology industry in our country,to improve the overall national innovation ability,construct an innovative country is very important.It has short life cycle,high technology content and great market demand,only rely on the research and development activities,the ongoing technological innovation,to form the core competitiveness,and to improve financial performance.At present,the electronics industry still exist such problems as insufficient input intensity,the investment structure imbalance,it is difficult to meet the changing consumer demand and industry development present situation,it will have a certain impact on its financial performance.Based on the actual situation of the electronics industry,117 electronics companies listed in Shanghai and Shenzhen two city is based on the data of 2012-2016,empirically the relationship between R&D investment and financial performance,and the data shall be carried out in accordance with the capital strength,personnel strength of different grouping regression.The results show that the intensity of R&D investment,personnel investment have significant positive effects on financial performance of the current period,but the current capital influence can only continue to lag phase two,personnel input does not exist persistent;Different enterprise capital and personnel intensity will lead to different degree of influence of R&D investment on financial performance.The research results are expected to enrich the relevant literature on the relationship between R&D investment and financial performance,and provide references for enterprise R&D decisions.At the same time,some Suggestions from the Angle of enterprises,in the hope that enterprises can change the inherent thinking,improve the independent innovation consciousness,attaches great importance to the R&D investment in the foundation stage,continued ascension and performance,and create a good environment for innovation in the industry and realize the power of science and technology.