研发支出、广告支出与企业经济绩效--基于中国不同制造业子行业的实证研究

摘要

文章选取通信设备、计算机及其他电子设备制造业、医药制造业、日用化学产品制造业为样本，采用2005～2007年中国工业企业数据，分析这三个行业研发支出、广告支出对企业经济绩效的影响。研究发现：（1）三个行业的研发支出与企业经济绩效均呈U型关系；（2）广告支出与企业经济绩效的关系具有明显的行业差异性；（3）医药制造业和通信设备、计算机及其他电子设备制造业研发和广告支出的交互项与企业经济绩效显著正相关，而日用化学产品制造业研发和广告支出的交互项与企业经济绩效的正相关关系不显著。%This paper selects the enterprises in telecommunication ,computer and other electronic equipment manufacturing ,pharmaceutical manufacturing , and household and personal product industries as samples , drawing data from Chinese industrial enterprise database during 2005~2007 .The econometric analysis method is applied to test the impact of R&D expenditure and advertising expenditure on enterprise economic perform‐ance .The results show that :(1) R&D expenditure has a U‐shaped relationship with enterprise economic per‐formance .(2) There are statistically significant differences in the relationship between advertising expenditure andenterprise economic performance across industries .(3) The interaction of R&D expenditure and advertising expenditure is positively related to enterprise economic performance .