RD投入对企业绩效影响的研究——基于长三角上市公司2006-2010年的面板数据

摘要

This paper researches on the listed companies who had disclosed the information of the R&D input for constant 5 years (from 2006 to 2010) in the Yangtze Delta.There are 53 companies all together,and the empirical research bases on the panel data.This paper aims to test the impact of the R&D input on the operating profit ratio of the companies.The result shows that R&D input has negative influence on the operating profit ratio for the term but positive impact on the operating profit ratios in the lag period which lasts for 3 years.Besides that,the impact of the second lag phase is the most outstanding.On the basis of the result,this paper puts forward some policy suggestions for the related parties.%利用长三角上市公司2006-2010年连续披露R&D投入信息53家公司的面板数据,检验企业R&D投入对营业利润率的影响.检验的结果表明,R&D投入对企业当期的营业利润率有负向的影响,对滞后一期、滞后二期、滞后三期的营业利润率有显著的正向影响,其中滞后二期的相关系数最大.根据检验结果提出政策建议.