| 研发投入与企业价值的相关性研究 |
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| 引用本文： | 陈海声,卢丹.研发投入与企业价值的相关性研究[J].软科学,2011,25(2):20-23. |
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| 作者姓名： | 陈海声 卢丹 |
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| 作者单位： | 华南理工大学工商管理学院,广州,510641 |
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| 摘 要： | 以2003～2007年度披露的R&D投入相关信息来研究R&D投入与企业价值之间的关系。研究发现:(1)非国有控股上市公司的R&D投入对下年的经营业绩有显著的促进作用,而国有控股上市公司的R&D投入与企业下年的经营业绩不相关;(2)国有和非国有控股上市公司的R&D投入与企业未来发展能力均不相关;(3)在国有控股上市公司中,R&D投入与托宾Q之间不存在显著相关关系;而在非国有控股上市公司中,R&D投入与托宾Q显著正相关,R&D投入对企业价值的提升有显著正向影响。
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| 关 键 词： | R&D投入 企业价值 产权性质 企业业绩 发展能力 |
Research on Correlation between R&D Investment and Enterprise Value |
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| CHEN Hai-sheng,LU Dan.Research on Correlation between R&D Investment and Enterprise Value[J].Soft Science,2011,25(2):20-23. |
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| Authors: | CHEN Hai-sheng LU Dan |
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| Institution: | CHEN Hai-sheng,LU Dan(School of Business Administration,South China University of Technology,Guangzhou 510640) |
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| Abstract: | This paper investigates the correlation between R&D investment and enterprise value by using data from the listed companies which disclose the R&D investment information from 2003 to 2007.The major conclusion are as follows:(1) R&D investment has a significant effect on the next year's operating performance in the non-state-owned listed companies,but R&D investment is not related to the operating performance in the state-owned listed companies;(2) R&D investment and future development capacity are not relev... |
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| Keywords: | R&D investment enterprise value ownership type enterprise performance development capacity |
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