The Impact Of R&D Investment On Technological Efficiency Of Foreign-funded Enterprises

Over the years,foreign-funded enterprises have a higher level of production technology and efficiency than domestic enterprises,especially in the automotive industry.Despite the low labor costs,the efficiency of China's automobile industry is not high and the resources are not fully utilized.There is still a big gap between domestic and foreign enterprises in terms of technological level.With the "Special Management Measures for Foreign Investment Access(Negative List)(2018 Edition)" issued jointly by the National Development and Reform Commission and the Ministry of Commerce on June 28,2018,the restrictions on the foreign-invested share ratio in the manufacture of special vehicles and new energy vehicles will be lifted since July 28,2018,the restrictions on the foreign-invested share ratio of commercial vehicles will be lifted in 2020,and passenger vehicles will be cancelled in 2022.China's automobile industry is bound to usher in a new chapter because of the restrictions on the ratio of foreign capital to shares and the restrictions on joint ventures not exceeding two.With the liberalization of share ratio restrictions,the automotive industry will face more severe competition.More and more enterprises have realized that technological innovation is the cornerstone of the core competitiveness of enterprises.As an important part of innovation,R&D investment plays an important role in technological progress of enterprises.Based on the data of foreign automobile industry in China from 1998 to 2015,this paper chooses R&D investment as explanatory variable,technical efficiency as explanatory variable,and uses data envelopment method to measure the technical efficiency of foreign automobile industry from the angle of input-output efficiency.Multivariate linear regression model was used to verify the impact of R&D investment on the technical efficiency of foreign automobile industry.Through empirical test,the paper concludes that R&D investment will have a positive impact on the technical efficiency of foreign-funded automotive industry.Meanwhile,the proportion of technicians to all employees,the turnover rate of current assets and the proportion of foreign-funded enterprises are all important factors affecting the technical efficiency level of foreign-funded automotive industry,but the level of production investment has no obvious correlation with the technical efficiency of foreign-funded automotive industry.Combining with the empirical results,the paper draws the following conclusions: 1.The government should support the development of automotive parts enterprises.2.Enterprises should strengthen R&D efforts and technology import,speed up the establishment of scientific and technological innovation system,such as the establishment of R&D institutions,while strengthening R&D cooperation with foreign enterprises in the high-tech field,and attach importance to new product R&D and technology.R&D investment and the introduction of technical personnel.3.Chinese enterprises,especially the leading enterprises in the industry,should actively implement the strategy of "going out".4.Enterprises should pay attention to the long-term training of technical personnel.