The Research On The Influence Of The R&D On Cost Stickiness

Since the cost of viscous phenomenon at the turn of the century by scholars discovered,this break traditional nature condition is nonlinear relationship becomes the very popular and important in the cost management subject section,to know and understand the cost stickiness is good for enterprise management decision.To encourage new and high technology enterprises in our country,the development of the emerging technology industry,set up the gem,aims to provide a safe and fast financing platform.But the gem listed companies mostly in science and technology,enterprise age is shorter,in management with some short board,such as research and development investment decision is not careful,not rational allocation of r&d resources,etc.,at the same time,the gem companies due to the smaller,the risk is bigger,in the capital market financing is not easy,financing constraints is stronger,this leads to some high quality innovative projects were shelved.Therefore,research on the cost of viscous gem companies r&d has important theoretical significance and practical significance.In this article,through combing the literature theory,to the technology innovation theory,forces say adjustment cost theory and information theory as the foundation,selected from2012 to 2016,the gem listed companies panel data regression analysis,the study shows that(1)r&d cost stickiness are related,(2)the financing constraints on the relationship between r&d investment and cost of sticky is a negative regulatory role.At the same time,this article selects a gem listed companies for case analysis,so that the entire article research has more practical meaning and finally come to the conclusion and give some enlightenment to the suggestion.This paper provides a new research cost stickiness,enrich the study of r&d investment and financing constraints specific consequences,viscous and help enterprises to make better understanding of financing constraints,improve the efficiency of r&d decision-making,promote the sustainable and healthy development of the enterprise.