R&D投入对企业绩效影响的研究——基于长三角上市公司2006—2010年的面板数据

Research of the Influence of R&D Input on Enterprises’Performance——Based on the Panel Data of the Yangtze Delta from 2006 to 2010

利用长三角上市公司2006—2010年连续披露R&D投入信息53家公司的面板数据,检验企业R&D投入对营业利润率的影响。检验的结果表明,R&D投入对企业当期的营业利润率有负向的影响,对滞后一期、滞后二期、滞后三期的营业利润率有显著的正向影响,其中滞后二期的相关系数最大。根据检验结果提出政策建议。

This paper researches on the listed companies who had disclosed the information of the R＆D input for constant 5 years （from 2006 to 2010） in the Yangtze Delta. There are 53 companies all together, and the empirical research bases on the panel data. This paper aims to test the impact of the R＆D input on the operating profit ratio of the companies. The result shows that R＆D input has negative influence on the operating profit ratio for the term but positive impact on the operating profit ratios in the lag period which lasts for 3 years. Besides that, the impact of the second lag phase is the most outstanding. On the basis of the result, this paper puts forward some policy suggestions for the related parties.