Research On The Impact Of R&D Investment Of Listed Smart Manufacturing Companies On Corporate Value

As far as China's current situation is concerned,realizing the transformation from a big manufacturing country to a powerful manufacturing country has become a major issue facing China's economic development in the new era.With the rise of a new round of scientific and technological revolution,the traditional manufacturing industry is facing tremendous impact.The problems such as weak innovation ability,low technological content of products and less high-end equipment are gradually exposed.The traditional manufacturing industry urgently needs to be adjusted and upgraded.Intelligent manufacturing industry has gradually become a new direction of industrial development.With the proposal of "Made in China 2025",the intelligent manufacturing industry is gradually being stressed.Attention and attention.However,the large amount of R&D investment is indispensable to the vigorous promotion of intelligent manufacturing industry.The research on R&D investment and enterprise value in our country is later than that in foreign countries,especially the impact on enterprise value of R&D investment in intelligent manufacturing industry is even less,which makes it difficult for a large number of intelligent manufacturing enterprises to invest a large amount of funds in R&D,making the enterprise value at a low level all the time.This paper chooses the R&D investment intensity of 60 intelligent manufacturing listed companies from 2013 to 2017 as the research object,and studies the relationship between R&D investment and enterprise value and what kind of relationship exists.It combines theoretical analysis with empirical test,according to domestic and foreign literature and domestic laws and regulations,and according to the financial disclosure of listed companies.Data,collate a set of evaluation system about enterprise value,and use the corresponding financial indicators to transform the abstract concept into specific figures,which illustrates the correlation between enterprise R&D investment and enterprise value.It is concluded that there is a positive correlation between R&D investment and enterprise value of Listed Companies in intelligent manufacturing industry,and the impact of R&D investment on enterprise value lags behind and lags behind.The latter period is usually one year,and relevant feasible suggestions are put forward.