Research on the Impact of R&D Investment on Enterprise Performance ——Based on the Empirical Analysis of Zhongguancun High-Tech Enterprises
Liu Yun1, Ma Zhiyun2, Zhang Mengya1, Bai Xu3
1. School of Public Policy and Management, University of Chinese Academy of Sciences, Beijing 100049, China; 2. School of Economics and Management, Ningxia University, Yinchuan 750021, China; 3. School of Social Sciences, Tsinghua University, Beijing 100084, China
Abstract：In this paper,189 Zhongguancun high-tech enterprises listed on the GEM are taken as the research objects,and panel data regression analysis is carried out on the R&D investment indicators and enterprise performance indicators of sample enterprises.The results show that the current R&D expenditure and enterprise scale have no significant impact on the level of enterprise performance.The support of the government has a positive impact on the profitability and development ability of enterprises.Through the analysis of the cumulative effect of R&D investment and enterprise performance,this paper finds that the intensity of R&D investment has a significant impact on the profitability of enterprises,and the effect increases with time.Based on the above research results,this paper draws some enlightenment and puts forward corresponding suggestions.
刘云, 马志云, 张孟亚, 白旭. 研发投入对企业绩效的影响研究——基于中关村高新技术企业的实证分析[J]. 中国科技论坛, 2020(12): 67-75.
Liu Yun, Ma Zhiyun, Zhang Mengya, Bai Xu. Research on the Impact of R&D Investment on Enterprise Performance ——Based on the Empirical Analysis of Zhongguancun High-Tech Enterprises. , 2020(12): 67-75.
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