Empirical Research On Correlation Between R&D Investment And Performance Of High-Tech Enterprises

Nowadays enterprises want to keep their core competitiveness in the market for long-term development,technological innovation is the essential factor.Technological innovation rely on the effective implementation of enterprises' research and development activities.The enterprise's research and development activities are important influencing factors of enterprise growth and development.At present,social and social development needs the promotion of science and technology,and the sustainable development of enterprises cannot be separated from the support of science and technology.Enterprises have more investment in r&d activities to achieve these goals.At present,scholars have not reached a consensus on the relationship between r&d investment and enterprise performance.Therefore,I believe that it is necessary to conduct in-depth research on this issue.This paper studies the related literature at home and abroad in the field,according to the theory of research and development,technology innovation and economic growth theory and r&d investment and enterprise performance theory as a foundation,analyzed the relationship between r&d investment and enterprise performance.Research object of this paper is 130 high-tech enterprises listed on GEM before December 31,2015.We use the cninf database in the disclosure of listing Corporation real data,select the R&D investment as explanatory variables,the main business profit rate,the rate of return on net assets,the main business profit growth rate of net assets,net assets growth rate,assets ratio as explanatory variables,with the establishment of the enterprise and the asset liability ratio as the control variables,the model of R&D investment and enterprise performance evaluation is established,evaluate the performance of R&D investment from three aspects of profitability,growth ability.At the same time,the lag effect and cumulative effect of R&D investment is evaluated.This paper chooses a case to analyze,analyzes the indicators related to the r&d investment and enterprise performance of this enterprise,introduces the current situation of enterprise r&d investment and enterprise performance,and points out the existing problems.Through empirical analysis,this paper draws relevant conclusions.First,investment in research and development of China's high-tech enterprises needs to be strengthened.Second,investment in research and development of high-tech enterprises can bring more profits.Third,the r&d investment of high-tech enterprises can make enterprises grow better to a certain extent.Fourth,the r&d investment of high-tech enterprises has certain lag effect and accumulation effect.This paper makes an empirical analysis,which enriches the theory of the relationship between the investment in high-tech r&d and enterprise performance.Based on the research results,this paper puts forward relevant Suggestions.Enterprises should improve their scientific research ability and reform their innovation mechanism.Enterprises should increase funding to ensure adequate sources of funding for research and development.Enterprises should choose to support technological innovation projects;The government should widen the financing channels of enterprises and improve the financing environment.