Research On Information Disclosure Of R&D Expenditure In Pharmaceutical Industry

Nowadays,the market economy society is developing,the cultivation and development of core competitiveness is particularly important to enterprises,which is closely related to the R&D investment of enterprises.With the continuous deepening of the reform of the national medical system,the data of State Securities shows that the total R&D investment of 1004 pharmaceutical listed companies in 2018 is 66.1 billion yuan,accounting for about 5%of the operating revenue,the R&D investment accounts for 19%of operating revenue of United States reached 19%in the same period.At the same time,the accounting information of listed companies should be open,transparent,relevant,reliable and easy to understand,so as to meet the needs of the healthy development of capital market and the decision-making of information users.Chinese and international accounting organizations have been striving to improve accounting standards to ensure the comparability of recognition,measurement and disclosure of R&D expenditure.Compared with the general manufacturing industry,R&D activities in the pharmaceutical industry have the characteristics of large investment,high risk and long cycle.As a pharmaceutical company in the whole industrial chain,Harbin Pharmaceutical Group Co.,Ltd.achieved a total industrial output value of 6.8 billion yuan and an operating revenue of 6.65 billion yuan in 2000,both of which ranked first in the industry.However,from 2014 to 2018,the disclosure of R&D expenditure of Harbin Pharmaceutical Co.,Ltd.was not standardized,and its operating revenue grew negatively for five consecutive years.This paper selects the listed companies of pharmaceutical manufacturing industry under the classification of CSRC as samples,and collects and sorts out the capitalization of R&D expenditure of pharmaceutical enterprises and the disclosure of relevant information based on the relevant provisions of various departments of China on the disclosure of R&D expenditure information of listed companies.At the same time,combined with the case analysis of Harbin Pharmaceutical Co.,Ltd..It is found that the capitalization standards and specific content disclosure are incomplete,quantitative disclosure and descriptive disclosure are missing,comparability and low relevance,and targeted suggestions and countermeasures are put forward for the possible reasons.The paper is divided into six parts.The first part is introduction.This part describes the background and significance of this study,the research status of R&D expenditure information disclosure at home and abroad,and the innovation of this paper.The second part is the theoretical basis of R&D expenditure information disclosure.This part introduces the definition of R&D expenditure information disclosure,relevant policies and regulations,relevant theoretical basis,disclosure methods and classification.The third part is the current situation of R&D expenditure information disclosure of pharmaceutical industry and Harbin Pharmaceutical Co.,Ltd.It summarizes current situation of the R&D expenditure information disclosure in the pharmaceutical industry,and expounds the capitalization of R&D expenditure and related information disclosure of Harbin Pharmaceutical Co.,Ltd.The fourth part is researching and development expenditure information disclosure of Harbin Pharmaceutical Co.,Ltd.This part first analyzes the problems in the disclosure of R&D expenditure information of Harbin Pharmaceutical Co.,Ltd.from the perspective of information asymmetry;then analyzes the causes of the problems from the internal and external,and concludes that the low quality of R&D information disclosure of Harbin Pharmaceutical Co.,Ltd.may be related to factors such as the protection of trade secrets,the lack of internal supervision,etc.The fifh part are countermeasures and suggestions to improve the information disclosure of researching and development expenditure of Harbin Pharmaceutical Co.,Ltd.In this part,countermeasures and suggestions are given for the problems in the disclosure of R&D expenditure information of Harbin Pharmaceutical Co.,Ltd.The sixth part is conclusion,prospect and deficiency.This part summarizes the research results of this paper,the prospect of the disclosure of research and development expenditure information of Harbin Pharmaceutical Co.,Ltd.and the whole industry,and the shortcomings of this paper.