摘要
创新投入可以不断为企业带来活力,提高企业的市场竞争力。创新投入能否提高企业绩效?研发投入对企业绩效是否具有滞后效应?为验证这些问题,选取了2015-2019年A股497家披露了研发支出的上市公司数据作为样本,分别检验总体创新投入、资本化支出和费用化支出对企业绩效当期的影响及滞后影响。研究结果表明:创新投入对当期企业绩效具有负向影响,滞后效应由负向影响转变为正向影响;资本化支出对当期企业绩效具有负向影响,滞后效应为正向影响;费用化支出对当期企业绩效具有负向影响,滞后效应为负向影响。
Innovation input can bring vitality to enterprises and improve the market competitiveness of enterprises.Can innovation input improve enterprise performance?Does R&D investment have a lag effect on firm performance?The data of 497 listed companies that disclosed R&D expenditure from 2015 to 2019 is selected as samples to test the effects of total innovation input,capitalization expenditure and expense expenditure on the current period and lag period of firm performance.The results show that innovation input has a negative effect on the current corporate performance,and the lag effect changes from a negative effect to a positive one,while capitalization expenditure has a negative effect on the current corporate performance,and the lag effect is a positive one.The expense has a negative influence on the current enterprise performance and the lag effect is negative.
作者
刘纳新
刘思菡
LIU Na-xin;LIU Si-han(Hunan University of Finance and Economics,Changsha Hunan 410205;Yunnan University of Finance and Economics,Kunming Yunnan 650221)
出处
《湖南财政经济学院学报》
2022年第4期56-65,共10页
Journal of Hunan University of Finance and Economics
基金
湖南省教育厅科学研究重点项目“创新驱动下科技型小微企业融资风险传导机理及控制策略研究”(项目编号:19A079)。
关键词
创新投入
企业绩效
资本化支出
费用化支出
innovation input
enterprise performance
capitalization expense
expense
