Research On Organizational Slack, R&D And Corporate Value

China is currently in a period of economic transformation,with extensive business models,low management efficiency,and backward governance systems.During the process of continuous development and growth,enterprises will inevitably have varying degrees of organizational slack,but their significance to the business community is inconsistent.For example,agency theory and organization theory have diametrically opposed views.In fact,the theoretical perspective is important,and whether it is conducive to the improvement of corporate value is an important criterion.In the face of today's increasingly fierce competition,companies can only have a place if they continue to innovate.Research and development activities,as a key way for companies to improve their innovation level,help companies to strengthen their independent innovation capabilities,build irreplaceable core competitiveness,and then improve their businesses.value.The maximization of enterprise value is the goal of continuous efforts for enterprises in the operation process.The organization's redundant holdings and utilization levels will inevitably affect the enterprise value,and what role does R&D investment have between the two? This issue should be taken seriously and studied.In response to the above issues,based on previous scholars' research,this article takes the relationship between organizational slack and corporate value as the research theme,and adopts empirical and literature research methods to list 1,085 companies listed on the A-share market in Shanghai and Shenzhen.As a sample,complete data from 2014-2018 of the company's database were extracted for research.This article divides organizational slack into precipitation slack and non-precipitation slack,and based on the internal perspective of the enterprise,finds the intermediate variable of R&D investment,establishes a multiple regression model,and analyzes R&D investment and organization after hierarchical regression and group regression.The impact of redundancy on business value.The study found that the organizational slack of listed companies in China has a direct positive role in promoting corporate value.In the classification of organizational slack,precipitating and non-precipitating organizational slack positively affects corporate value,and increasing the intensity of R&D investment will also It has a positive impact on corporate value,and R&D investment has played an intermediary role in organizational slack and corporate value.Based on the findings,this article suggests that companies should more fully and objectively recognize that organizational slack is conducive to the enhancement of corporate value,it is recommended that in the rational allocation and utilization of organizational slack,in addition to the overall goal of increasing performance and increasing value,attention should also be paid to expanding the market,guided by improving the company's independent innovation ability,and improving the efficiency of the organization's slack resources.Increase investment in research and development to further enhance corporate value.