Empirical Study of the RD Impact on the Output of Enterprises:Based on the Equity of Enterprises

摘要

The globalization has made China the world's largest foreign investment country. However, foreign capital affects differently on the local enterprises' ability to absorb R&D. This paper studied the panel data of 115 listed companies in China from 2001 to 2008 to measure the influence of foreign capital from the equity of shareholders and industry technology perspectives. The empirical results show that the enterprises with foreign shareholders take advantage of R&D more efficiently than domestic enterprises. Moreover, the industry technology also has influence on the R&D activities. However, there is no significant effect in high-tech industry.