摘要
依据产业组织理论,选取在中国大陆、中国香港上市的8家极具代表性的体育用品企业作为研究样本,以其2012-2018年的面板数据进行多元线性回归分析,探究我国体育用品制造业上市公司研发投资、广告投资对企业盈利能力的影响关系与滞后效应。研究发现:我国体育用品企业R&D投资、广告投资、企业规模、成长性、上市年数均与当期盈利能力呈显著正相关,资产结构与当期盈利能力呈显著负相关;广告投资对盈利能力的促进作用滞后性有两年,R&D投资对盈利能力的促进作用滞后性有三年;且同等金额下,R&D投资的促进作用是广告投资的3~4倍。
According to the Industrial Organization theory,selected eight representative sporting goods enterprises listed in the Mainland of China and Hong Kong as a research samples.Based on the panel data from 2012 to 2018,the writer conducted muctiple linear regression analyses multiple linear regression analysis was conducted to explore the influence of R&D and advertising investment on the profitability of listed sporting goods manufacturing companies in China and the lagged effect.The results show that the R&D investment,advertising investment,enterprise-scale,growth,and recording time are positively correlated with the current profitability significantly.In contrast,the asset structure negatively correlates with the current profitability.The promotion effect of advertising investment on profitability lags two years behind,and the R&D investment lags three years.In the same amount,the promotion effect of R&D investment is 3~4 times that of advertising investment.
作者
刘益帆
李留东
杨少雄
LIU Yi-fan;LI Liu-dong;YANG Shao-xiong(School of PE, Ningbo University, Ningbo 315211, China;School of PE and Sport Science, Fujian Normal University, Fuzhou 350117, China)
出处
《浙江体育科学》
2021年第2期1-10,共10页
Zhejiang Sport Science
基金
国家社会科学基金重点项目(19ATY006)——中国体育用品制造业服务化战略研究。
关键词
体育用品制造业
上市公司
研发投资
广告投资
盈利能力
sporting goods manufacturing
listed companies
R&D investment
advertising investment
profitability
