The Research on the Effects of the Listed Manufacturing Companies' RD Investment on Business Performance

摘要

Innovation is the headspring and inner power of enterprises' development; R&D activities are the main source of innovation. Therefore, domestic and foreign scholars have been concerned about the effects that R&D investment has on business performance. Based on the data of 76 listed manufacturing companies from 2005 to 2008, this article empirically analyses the effects that R&D investment has on business Performance. The results show that the proportion of R&D investments in the listed companies is low, and there is a negative correlation between the R&d investments and part of their performance indicators. Furthermore, R&D investment has a delayed influence on performance. Finally, the listed companies are suggested to intensify the R&D investment and make investment decisions more scientific.