摘要
有别于国有企业的中国民营企业为了在日益市场化的竞争中保持优势,对R&D进行投入①似乎是大势所趋。文章将详细讨论中国民营企业R&D投入强度对企业业绩的影响。文章利用浙江省桐乡市21家民营企业14个季度的面板数据进行计量分析,最终发现浙江省桐乡市民营企业的R&D投入在其投入后(不包括投入当期)一年之内对企业业绩具有积极的影响,有趣的是这种影响呈现一个倒U型。倒U型的最大值出现在研发投入后(不包括投入当期)的第三个季度。
This paper explores the relationship between the R＆D intensity and the performance of private-owned enterprises. The private-owned enterprises, usually with short history, are beginning to invest in research and development for new products. After using the descriptive statistics to illustrate the correlation among the economic variables of interest, the panel data form regression model is used to analyze the effect of the R＆D on the performance of the enterprises. The conclusion is that there is a positive relationship between the R＆D intensity and the performance of the privateowned enterprises within the following year after the R＆D investment. The positive relationship bears an inverted U-shape, and the maximum value of the inverted U-shape is in the third ouarter aftor tho investment.
出处
《财经研究》
CSSCI
北大核心
2007年第7期102-112,共11页
Journal of Finance and Economics
关键词
R&D投入强度
民营企业业绩
面板数据
R＆D intensity
performance of the private-owned enterprise
panel data
