摘要
在以知识、信息为特征的新经济社会,R&D是企业在市场竞争中取得长期优势的基本保证,企业的R&D投入能给企业带来未来市场价值。从微观企业主体的角度对R&D投入的经济效果进行分析,以中国沪深两市2002至2009年披露R&D投入信息的上市公司为样本,对企业R&D投入与企业经营利润间关系进行实证研究。结果发现,各期R&D资金投入和人员投入都与企业经营利润正相关,并且存在明显的滞后效应,R&D资金投入的滞后期为1期,R&D人员投入的滞后期为2期。此外,企业股权性质和所处行业性质也影响到企业研发投入对企业盈利能力推动作用的大小。
In the new economy, R＆D investment is the source of Long-term competitive it can provide a future market value. This paper focuses on the relationship between performances from the perspective of business advantage for all company and R＆D investment and enterprise In this paper, the panel data of all Chinese listed companies which disclosed R＆D investment in the annual report during 2002 to 2009 are used. The results showed that both of the capital and personnel R＆D investment have of R＆D investment researchers is obviously lagged positi One ve correlation with corporate financial performance, and the influence term lagged of R＆D investment and two terms lagged of R＆D
出处
《科学学与科学技术管理》
CSSCI
北大核心
2011年第1期146-151,共6页
Science of Science and Management of S.& T.
关键词
R&D投入
经营业绩
面板数据
实证研究
R＆D investment
enterprise performance
panel data
empirical study
