| 股权性质、资本结构、现金流量与研发强度 |
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| 引用本文： | 陈海声,卢丹.股权性质、资本结构、现金流量与研发强度[J].科技管理研究,2010,30(21). |
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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,广东广州,510640 |
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| 摘 要： | 以我国2003—2008年披露研发投入信息的上市公司为样本,研究股权性质、资本结构、现金流量以及盈利能力对上市公司R&D强度的影响。研究发现,非国有控股上市公司研发强度显著高于国有控股公司,高负债水平对研发强度存在显著的负向影响,发展能力和企业规模与研发强度显著负相关;每股现金流量与国有控股上市公司的研发强度不相关,但对非国有控股上市公司的研发强度有显著的正向影响。本文还发现盈利水平对当期研发强度没有显著影响,而对下期研发强度有显著正影响,即盈利水平对研发投入决策的影响具有滞后性。
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| 关 键 词： | 研发强度 股权性质 资本结构 现金流量 盈利能力 |
Ownership Type,Capital Structure,Cash Flow,Profitability And R&D Intensity |
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| CHEN Haisheng,LU Dan.Ownership Type,Capital Structure,Cash Flow,Profitability And R&D Intensity[J].Science and Technology Management Research,2010,30(21). |
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| Authors: | CHEN Haisheng LU Dan |
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| Institution: | CHEN Haisheng,LU Dan(School of Business Administration,South China University of Technology,Guangzhou 510640,Guangdong) |
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| Abstract: | The paper investigates the influence of ownership type,capital structure,cash flow and profitability on the R&D intensity by using data from the listed companies which disclosed the R&D investment information during 2003~2008.The paper finds out the following: the R&D intensity of non-state controlled firms is significantly higher than that of state controlled firms;high debt level has a significant negative impact on the R&D intensity;development capacity and firm size also have a significant negative corr... |
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| Keywords: | R&D intensity ownership type capital structure cash flow profitability |
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