摘要
以我国2009-2013年食品行业上市企业公报数据为基础,运用数据前沿分析法(SFA)探讨了食品企业研发投入与广告投入策略对当期和长期食品行业企业技术效率的影响。实证分析显示,在研发力度不变的情况下,随着广告投放额的增加,广告势力效率显著性变化呈现出一定的规律性;企业的广告投入短期内与企业市场势力效率与企业盈利效率没有显著性关系;从长期看,企业的广告投入与企业市场势力效率正向相关,但是与企业盈利效率的正向相关性存在不确定因素;企业的规模与企业技术效率并没有显著的相关性;企业的毛利率对企业技术效率有正向的影响作用,而财务杠杆对企业技术的影响则不确定。为此笔者提出了企业在多要素结构情景下合理投放研发费用、广告费用及合理的运用企业财务的建议。
Based on the data from China＇s food industry listed companies＇ annual report from2009- 2013,using the model of SFA,explored influence of the food enterprise investment in RD and advertising on the enterprise technical efficiency invariant of situation. The empirical analysis shows that under the condition of invariable in RD efforts,advertising power efficiency＇s significantly change shows some regularity with the increase of amount of advertising： In the short term,the advertising campaign of the enterprise shows no significant relationship with enterprise share efficiency and enterprise profit efficiency; However,in the long term,the advertising campaign of the enterprise shows positive relationship with enterprise share efficiency,but positive correlation with the enterprise profit efficiency contain uncertainty. There is no significant correlation between the scale of the enterprise and enterprise technical efficiency. Through the empirical analysis from different technology,this paper reveals the internal correlation between RD,advertising and enterprise technical efficiency; Enterprise＇s profit margins have a positive impact on technical efficiency of the enterprise,however the influence of financial leverage to the enterprise technology is uncertain. Finally the paper puts forward some suggestions of reasonable use on the RD costs,advertising costs and financial advices in the situation of multi factor structure.
出处
《南京社会科学》
CSSCI
北大核心
2015年第4期23-29,64,共8页
Nanjing Journal of Social Sciences
基金
国家社科基金重点项目"提升企业品牌核心竞争力研究"(10AJY011)的阶段性成果
关键词
研发
广告
技术效率
数据前沿分析法
research and development
advertising
technical efficiency
SFA
