人力资本、研发投入对企业财务绩效的协同影响——以广东省科技型企业为例

A Study on the Synergetic Effect of Human Capital and R&D Investment on Financial Performance--A case study of science and technology enterprises in Guangdong province

以广东省100家科技型上市企业2014-2019年的面板数据为研究样本,运用多元线性回归模型分析了人力资本、研发投入对企业财务绩效的协同影响。研究表明,高学历人才的引进、在职职工人力资本投资强度与R&D经费投入强度、R&D人员投入强度两两协同对提升企业当期的销售毛利率有促进作用,对滞后2-3期的资产获利能力有促进作用,当期与偿债能力、营运能力呈现负相关性,在滞后1期对发展能力有显著正影响,但增加员工数量不会迅速降低流动比率。基于此,政府层面提出注重教育和科技资源的投入;企业层面提出密切研发人员与非研发人员之间的有效协调配合;加强高学历人才的引进和培养。

Based on the panel data of 100 technology-listed companies in Guangdong Province from 2014 to 2019,this paper empirically analyzes the synergetic effects of human capital,R&D investment on financial performance by using multiple linear regression model.The result shows that the combination of the introduction of qualified personnel,the intensity of human capital investment,the intensity of R&D funds investment and the intensity of R&D personnel investment has a strong promotion effect on the sales gross profit,and it tends to promote the lag of the assets earning capacity in the lag period of 2〜3.The current period is negatively correlated with the debt paying capacity and the operating capacity,and the positive effect on the development capacity is most significant in the lag period of 1.Based on the above conclusion,the investment of education as well as science and technology resources should be paid more attention by government and enterprises should propose close effective coordination between R&D personnel and non-R&D personnel.