创业板上市公司研发投入影响因素研究

Factors Influencing the Investment in Research and Development of Listed Companies on GEM

企业的研发活动不仅是提高市场竞争力的关键因素,也是供给侧改革的迫切需要。通过收集整理创业板314家上市公司相关财务数据,研究影响企业研发投入的影响因素。研究发现:组织激励、财务资源和企业规模与研发投入显著正相关,负债水平与研发投入负相关。技术创新和研发活动可以通过扩大企业规模、增加财务支持和保障能力、提升对高管内部激励等方式来提高能力,为目前供给侧改革任务提供保障。研究结果对于供给侧改革顺利进行具有一定的现实意义。

Research and development of enterprises are not only the key factors in increasing the competitiveness, but also the urgent re-quirement of supply side reform. Collecting and organizing relative financial data of 314 listed companies on GEM, we studied the factors affecting the enterprises＆#39; investment in research and development. The study finds out that organizational incentives, financial resources and enterprise scale have a significant positive correlation with the investment;the liability level has a negative correlation. Technological innovation and research activities could be motivated through expanding enterprise scale, increasing financial support ability, and elevating internal incentives for senior executives. The study result has practical significance to the implementation of supportive side reform.