Study On The Influence Of Heterogeneous Peer Effects On Enterprise R&D Decision

The report to the 19 th national congress of the communist party of China clearly stated that innovation is the primary driving force for development and the strategic support for building a modernized economy.At present,China's economy has shifted from a high-speed growth stage to a high-quality development stage,and it needs innovation-driven more.Innovation ability has gradually become the core competitiveness of regional development.High-tech enterprises are the main body of innovation and the new force to promote innovation and creation.In recent years,the party committee and the provincial government of Hebei province have taken the development of high-tech enterprises as an important task of implementing the innovation-driven development strategy of the whole province,and achieved an explosive increase in the number.However,the development quality of high-tech enterprises in Hebei province still needs to be improved,especially the obvious shortage of R&D investment,which seriously restricts the improvement of enterprise innovation capabilities.Therefore,it is urgent to deeply explore the causes of the insufficient R&D investment of hightech enterprises in Hebei province,find the key factors that affect the R&D decisions of enterprises,so as to promote the development and innovation of high-tech enterprises.Based on the theory of behavioral economics,this paper introduces peer effect to the enterprise R&D decision-making research,break through the traditional researchs starting from the enterprise's own financial characteristics,It mainly studies the influence of company ownership characteristics,enterprise scale,industry and region of the company on the R&D decision of the company,At the same time,the effects of market behaviors of peer enterprises of different nature on the R & D decision-making behaviors of enterprises in the same group were explored respectively.First of all,according to the relevant theories of R&D innovation,R&D investment is taken as an important measurement index for enterprise R&D decisions.Based on the theory of behavioral economics and social economics proposed by economists such as Taylor and Granovetter,consider peer behavior as an influencing factor to expand the perspective of traditional economic analysis of enterprise R&D decisions.Second,analyze the current status of R & D behaviors of high-tech enterprises in Hebei Province from the aspects of industry,region,nature of ownership and technology field.Then we grouped the high-tech enterprises in Hebei Province according to different definitions,and examined the impact of heterogeneous homogeneous effect on the R&D behavior of high-tech enterprises.Finally,Finally,the corresponding policy recommendations are given for the purpose of promoting positive peer effects and avoiding negative peer effects.The research in this article has certain reference significance for promoting the research and development of high-tech enterprises in Hebei Province and the formulation of government-related technological innovation policies and measures.The main conclusions of the study indicate that the company's R&D decisions are not only affected by its own characteristics and external market environment,but also closely related to peer companies' R&D behavior.Among them,the R&D expenditure of high-tech companies grouped by industry is significantly positively affected by peer companies.Hebei high-tech enterprises grouped by region also have a significant peer-to-peer effect in R&D behavior.Due to the proximity of geographical locations,high-tech enterprises in the same region have a positive correlation between R&D investment.In the group divided by the nature of ownership,because the company's rent-seeking behavior has occupied the R&D expenditure,the peer effect is negative.Enterprises in the same technology field strengthen their information exchanges by participating in activities and refer to peer companies in R&D decisions.The empirical results show that there is a positive peer effect between groups in the technical field.