Research Of R&D Investment Influence On Corporate Performance

As China enters the new economic normal period,the main feature of the economy in the new normal period is that the economy is no longer growing at a high speed,but at a faster and more stable rate.Enterprises are beginning to focus on their own independent innovation capabilities and gradually strengthen their Investment in science and technology research and development activities.Due to the continuous development of science and technology,people have put forward higher levels of appeals for the quality and technical level of products produced by enterprises.In addition,with the advent of the post-economic crisis era,the uncertainty of the external economy faced by enterprises is increasing.Listed companies are regarded as typical representatives of high-quality enterprises in China,and continue to increase investment in scientific and technological research and development,in the hope of cultivating and upgrading their independent research and development capabilities,to stand out in the increasingly fierce market environment of international competition.In the context of increasingly complex and ever-changing competition,the importance of independent innovation capabilities has become increasingly prominent.As a result,companies have gradually shifted the core of strategic development to technology research and development activities.Actively carry out scientific and technological research and development activities,and strengthen the cultivation and promotion of independent innovation capabilities,which will help enterprises master core technologies,form the core competitiveness of enterprises,and lay the cornerstone for the vigorous development of enterprises.The IT industry is a high-tech intensive industry and a key industry for R&D investment.For a long time,China's IT industry's overall science and technology research and development investment is at a low level,and the ability to create independent energy needs to be improved.Studying and analyzing the relationship between R&D investment and corporate performance in China's IT industry is of great significance for realizing the healthy and rapid development of China's IT industry.At present,many scholars have studied and analyzed the relationship between R&D investment and company performance.However,in the existing research,a single financial indicator is selected to measure the company's corporate performance,and few scholars select comprehensive indicators to evaluate the company's performance.Based on the new normal of China's economy,this paper combs the theory of R&D investment and company performance,and analyzes the current status and characteristics of R&D investment in China.In view of the availability of data,and considering the unstable operation of the company,the relevant financial indicators fluctuated greatly.After a period of adjustment,the company's operations were relatively stable.In order to reduce the impact of this phenomenon on the results of empirical analysis and ensure the accuracy of the analysis conclusions,this paper takes the IT industry listed companies listed in Shanghai and Shenzhen before December 31,2010 as the research object,to collect and organize 2013 to The data of 2017 is a sample.The statistical method of principal component analysis is used to construct the comprehensive evaluation index of company performance.Finally,the impact of R&D capital input intensity and technical personnel input intensity on the company's performance is analyzed.After the above analysis,the conclusion is as follows: The development of the investment in research and development funds has a lag.The current R&D capital investment has a significant negative impact on the company's performance;the R&D capital investment in the first phase and the lagging phase has no significant impact on the company's performance;the R&D capital investment in the third phase has a significant effect on the company's performance.However,the input of technicians in the current period and the technical staff input in the first phase have a significant positive impact on the company's performance,but the technical staff input of the two phases and the three phases of lag have no significant impact on the company's performance.The article concludes with recommendations for improving the performance of companies in the IT industry.