摘要
基于经济新常态背景,选取了1004家A股上市公司作为研究样本,时间跨度为2010年至2018年,构建面板门槛模型研究R&D投入对企业绩效的影响。通过实证研究得出了以下结论:第一,国家政策的实施促进了R&D投入的增长,在对比中发现,经济新常态提出后,近几年我国R&D投入增长趋势较为明显;第二,R&D投入和企业绩效之间存在一定的相关关系,但当期相关性不是很强,受科技创新的时间制约,研发投入的绩效成效表现出了一定的滞后性;第三,经济新常态下,R&D投入对企业绩效的影响存在着结构突变的门槛值,表明政策存在有效性。
Based on the background of the new economic normal,this paper selects 1,004 A-share listed companies as the research sample,spanning the period from 2010 to 2018,and constructs a panel threshold model to study the impact of R&D investment on corporate performance.Through empirical research,the following conclusions are drawn:First,the implementation of national policies has promoted the growth of R&D investment.In comparison,it is found that after the introduction of the new economic normal,China’s R&D investment has increased significantly in recent years;Second,there is a certain correlation between R&D investment and corporate performance,but in the current period,the correlation is not very strong.Due to the time constraints of technological innovation,the performance and effectiveness of R&D investment has shown a certain lag;Third,under the new economic normal,there is a threshold of structural mutation in the impact of R&D investment on corporate performance,which indicates that the policy is effective.
作者
邵文武
刘佳
王学强
SHAO Wen-wu;LIU Jia;WANG Xue-qiang(College of Economics and Management,Shenyang Aerospace University,Shenyang 110136,China;Business School University of Nebraska,Lincoln NE,UAS,68508)
出处
《沈阳航空航天大学学报》
2021年第4期78-88,共11页
Journal of Shenyang Aerospace University
基金
辽宁省教育厅人文社会科学项目(项目编号:L201717
JYT19014)。
关键词
企业管理
R&D投入
企业绩效
企业创新
面板门槛模型
corporate management
R&D investment
corporate performance
corporate innovation
panel threshold model
