Research On The Impact Of R&D Investment On Sustainable Growth Of Listed Automobile Enterprises

The automobile manufacturing industry is an important component of Chinese manufacturing industry and one of the important pillars of national economy.In recent years,Chinese automobile manufacturing industry has developed vigorously and become a force that cannot be ignored in the global automobile market.But with the continuous development of Chinese economy,Chinese automobile manufacturing industry is facing some challenges and problems.On the one hand,with the increasingly fierce and cruel market competition and the highly uncertain and complicated external environment,the automobile industry is encountering the situation of market saturation and reshuffle.On the other hand,environmental issues in the new era also put forward stricter standards for the automobile industry.In order to maintain competitive advantage,automobile enterprises need to solve these realistic difficulties and challenges.The key to solving these problems lies in R&D and innovation.Only by continuously increasing R&D investment,enterprises can improve their core competitiveness,improve sustainable growth ability,and stand out in the increasingly fierce market competition.The purpose of this thesis is to study the influence path of R&D investment on the sustainable growth ability of enterprises and explore the mechanism of intermediary factors.This thesis firstly reviews relevant literature comprehensively,analyzes the history and current situation of the research field,and summarizes the latest research results on R&D investment and sustainable growth of enterprises.On this basis,this thesis analyzes the influence mechanism of R&D input on the sustainable growth of listed automobile enterprises,and shows that R&D input has a positive impact on the sustainable growth ability of enterprises.Then,the panel data of 145 Shanghai and Shenzhen A-share listed automobile enterprises from 2011 to2021 is selected as the research samples to conduct empirical research,which proves this conclusion.Through empirical research on the data of listed companies in Chinese automobile manufacturing industry,it is found that R&D investment has a significant positive impact on the sustainable growth ability of enterprises,and innovation performance,precipitated redundancy and enterprise value play an intermediary role.Finally,this thesis takes Great Wall Motor as an example,comprehensively analyzes the mechanism of its sustainable growth ability affected by R&D investment,and puts forward relevant suggestions on R&D investment strategy based on the actual situation of Great Wall Motor,so as to encourage other enterprises in the same industry to determine appropriate R&D investment strategy,so as to improve their own sustainable growth ability.The conclusions of this study and suggestions on R&D investment strategy can bring certain enlightenment to automobile enterprises to improve their sustainable growth ability,and the study has certain practical application value.