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Factors Influencing China's high-tech enterprise RD expenditure

Author: YuQingYao
Tutor: ShiPing
School: Northwestern University
Course: Technology Economics and Management
Keywords: R D investment High-tech enterprises External factors Internal factors
CLC: F273.1
Type: Master's thesis
Year: 2011
Downloads: 310
Quote: 0
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Abstract

The face of 21st century international rapid development of science and technology, in the increasingly fierce competitive environment of today, countries have been fully aware that in order to increase international market share, and train a core competitiveness, it must start from technological innovation. Core competitiveness, is a source of strength for the enterprise from a number of competitors. To improve their status in the international market, the major companies in the world have increased innovation and R \u0026 D expenditures, into the ranks of the world competition. Corporate R \u0026 D expenditure is the basic driving force to improve production efficiency. Enterprise is the highest dependence on science and technology R \u0026 D and high-tech enterprises. The high-tech industry, in recent years, relying on the latest scientific and technological achievements established set of medium-sized group. The premise of the existence of high-tech enterprises is the innovation of science and technology, there is no scientific and technological inventions, high-tech enterprises will lose the basis for their existence. The other hand, the present, the domestic high-tech enterprise independent innovation power the RD input-output ratio is low, this common problem has a serious impact on the sustainable development of enterprises. Therefore, in the real context of the country has become increasingly attach importance to science and technology R \u0026 D investment, a comprehensive study of internal and external factors affecting the domestic high-tech enterprise technology R \u0026 D investment has a good complement to, for domestic RD theoretical research. Currently, relative to developed countries RD investment, China's overall situation is still at a relatively low level, a comprehensive, in-depth comprehensive study corresponds to the internal and external factors that affect RD investment has an important for enterprises to improve their own technological innovation capability and core competitiveness significance. First, based on the characteristics of the high-tech enterprises, the theoretical literature and research and development status of domestic enterprises based on consumer demand, market structure, government the RD expenditure as external factors, screened through surveys and scientific statistics, enterprise scale technological innovation capability, sales income, human capital, capital structure, and other factors as external factors. Secondly, on this basis, to build a multiple linear regression model, statistics and corporate financial data as support, use STATA100 regression analysis and its inspection, the study of these internal and external factors RD investment in China's high-tech enterprise activities The difference in size. Reached the following conclusions: (1) the market system is imperfect nature of the reasons is the impact of corporate R \u0026 D spending. (2) a random-effects model can simulate the impact of external factors and internal factors on corporate R \u0026 D investment good. (3) external factors, consumer demand and corporate R \u0026 D investment intensity is proportional to the degree of competition in the market and corporate R \u0026 D investment intensity is inversely proportional to government R \u0026 D spending and R \u0026 D investment intensity is inversely proportional. Among them, the biggest impact of government R \u0026 D spending on R \u0026 D investment. R \u0026 D investment exclusion of market concentration in the strength of the external factors model to explain the intensity of R \u0026 D investment. (4) in the internal impact model patents granted and the number of R \u0026 D personnel and R \u0026 D expenditures are positively correlated, but the degree of influence. The positive correlation between firm size and R \u0026 D expenditures, capital structure and R \u0026 D spending is negatively correlated. With other indicators, corporate sales revenue is proportional to the R \u0026 D expenditure, R \u0026 D investment intensity is inversely proportional to this growth in sales revenue, while domestic enterprises also will increase the total amount of R \u0026 D investment but not the corresponding increase in proportion to the resulting differences in sales revenue in the two models. Based on the above findings, the paper gives the following suggestions: (1) firm size, sales revenue, the state can create a fair competitive environment, and establish a legal mechanism for institutional constraints enterprise running good environment for enterprise development. (2) existing enterprises should attach great importance to these two indicators of the amount of scientific and technical personnel and the number of patents data, compared with the international advanced level, and its development is far not kept pace with the progress of science and technology R \u0026 D investment. (3) The enterprise can improve its own equity and liabilities ratio to reduce the proportion of the capital structure, which can lead to the growth of R \u0026 D investment, by contrast, has a crowding-out effect of the existing government R \u0026 D investment in research and development expenditures for science and technology institutions, should be the gradual transformation of the existing investment patterns, funding policy input tilt. Finally, there are still many deficiencies. As the national statistics of the research and development of domestic enterprises did not meet the full requirements, the listed companies are not disclosed in the R \u0026 D investment data, the data sample slightly some insufficient. In a follow-up study, if we increase the accuracy of the disclosure of the number of samples and data, and can make a more accurate analysis of the results of the study. Moreover, on the basis of the large sample size, the research model can also be added such as corporate incentives, whether listed companies and other factors on the impact of R \u0026 D investment.

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