【作者】 郭媛嫣；

【导师】 王玉春；

【作者基本信息】 南京财经大学 ， 会计学， 2008， 硕士

【摘要】 研发活动是创新的主要来源,而创新又是形成企业核心竞争力的关键因素。在日益加剧的市场竞争中,国外企业已经领先于国内企业,把研发活动作为企业发展战略中一个重要组成部分,并在研发活动中投入了巨大的人力、物力和财力;而我国企业在研发活动方面的投入水平之低,已经严重影响到它们在国际市场上的竞争能力。本文选取我国沪深两市制造业和信息技术业上市公司2003年至2005年的R&D投入数据以及相关的财务指标,采用实证研究的方法,运用多元线性回归模型和修正的柯布-道格拉斯(Cobb- Douglas)生产函数模型两种数理模型,同时选取绝对数和相对数两组数据对上市公司R&D投入与企业绩效之间的相关关系进行分析,并对研究结果进行了相互印证。研究的结果表明:总体上,我国上市公司R&D投入与企业绩效之间存在明显的正相关关系,R&D经费投入的增加促进了企业盈利能力和发展能力的增强;R&D人员的投入与企业绩效之间不存在明显的相关性;R&D投入的效果具有滞后性,滞后两年的效果更加明显;并且R&D投入具有累积性效果,这点也是前人研究所未曾涉及的。鉴于本文的研究结果,不但能为我国上市公司,而且也为我国非上市公司重视研发活动,提高研发投入提供了一个理论和实证的依据,同时也有利于全面促进我国企业的竞争实力。更多还原

【Abstract】 R&D activity is the main origin of innovation, and innovation is just the basic and the key to form and advance the enterprises core competition ability. In the furious market competition, the overseas enterprises have already gained the lead of the domestic enterprises. R&D activity has been an important content of the enterprises developmental strategy in the overseas enterprises, and the enterprises invested the huge manpower, the physical resource and the financial resource in R&D activity. Our country businesses enterprises, however, have a low investment level in R&D activity. And the level has already seriously affected the competition ability of our enterprises in international market.The paper, using observations of our listed manufacturing industry and information technique industry between the years 2003-2005 in stock market of Shanghai and Shenzhen, adopting the method of empirical study, utilizing the multi-dimensional linear regression model and the amendatory Cobb-Douglas production function and selecting two sets of datum, analyzes the relationship between R&D investment and performance of listed companies. The results illustrate that R&D investment generally has an obvious positive correlation with performance of listed companies, and the increment of the R&D expenditure investment strengthens gain ability and development ability of the enterprises, and R&D investment has lag result and accumulation result.In view of the paper findings, not only for our listed companies, but also for our non-listed companies, it is profitable for promoting the companies to attach importance to R&D activity, to increase R&D investment and strengthen our enterprise’s competition.更多还原