企业性质对研发投入长短期效应调节作用的研究——基于中国上市公司的实证分析  

Moderating Effects of Enterprise Nature on the Relationship between R&D Input and Short-term and Long-term Firm Performance——Based on the Empirical Analysis of Chinese Listed Firms

作　　者：胡谍[1] 王元地[1] 

机构地区：[1]四川大学商学院,成都610064

出　　处：《软科学》2015年第9期63-67,共5页Soft Science

摘　　要：以2007~2013年期间披露了研发投入信息的中国上市公司为研究对象,实证分析企业研发投入与长短期业绩的关系,并重点检验了企业性质对二者关系的调节作用。实证表明企业的研发投入只对当期业绩有影响,即存在短期效应而缺乏长期效应。企业性质的调节作用表现在两方面：从全国范围来看,企业性质对研发投入与短期营业毛利率的关系有调节作用,对研发投入与长期市场价值无调节作用;从不同区域范围来看,中部地区企业的这种调节作用更为明显。This paper analyzes the relationship between R＆D input and firm performance by taking the sample of Chinese listed firms,which disclosed R＆D from 2007 to 2013. And then,it tests the moderating effects of enterprise nature. Result shows that firms pay more attention to short-term R＆D input,which only has influence on the current performance. The moderating effects of firm nature show that,nationwide,private firms moderate the relationship between R＆D input and firms’ short-term performance positively,while have no significant effect on the long-term performance; in terms of geography,this moderating effect is more obvious in the midland.

关 键 词：研发投入 企业业绩 企业性质 调节作用 

分 类 号：F830.9[经济管理—金融学]