石油石化上市公司研发投入对成长性影响研究  

A research on the impact of R&D investment on the growth of petroleum and petrochemical listed companies

作　　者：朱志红[1] 高洁 徐平 邱书香 Zhu Zhihong;Gao Jie;Xu Ping;Qiu Shuxiang(Institute of Petroleum Economics and Management,Northeast Petroleum University,Daqing 163318,Heilongjiang,China;Heilongjiang Bayi Agricultural University,Daqing 163318,Heilongjiang,China)

机构地区：[1]东北石油大学石油经济与管理研究所,黑龙江大庆163318 [2]黑龙江八一农垦大学,黑龙江大庆163318

出　　处：《科研管理》2020年第10期145-155,共11页Science Research Management

基　　金：国家社会科学基金项目:“油气资源型城市产学研耦合共生网络稳定性研究”(19BJY068,2019—2021)。

摘　　要：本文以中国沪深两市112家石油石化上市公司2015-2019年数据为样本,就企业研发投入对公司成长性的影响进行实证研究。研究结果表明:研发资金投入显著正向促进石油石化上市公司成长性,并且存在滞后性,滞后期为三年且滞后二期的影响最明显;研发人员投入正向促进石油石化上市公司成长性,但作用不显著;公司规模对公司成长性存在显著正向影响,资本结构显著负向影响公司成长性。基于研究结论,提出创造良好的创新环境、强化研发管理、增加长期持续性研发投入和完善创新人才体系等建议。With the implementation of the innovation-driven strategy, China is gradually transforming into an innovation-driven country, and the transformation of traditional industries has become an irresistible trend. As a traditional industry, petroleum and petrochemical enterprises have made indelible contribution to the economic development since the founding of New China. At present, under the impact of new energy enterprises, listed petroleum and petrochemical companies are faced with the pressure of insufficient innovation strength, insufficient innovation ability and backward technological products. As the driving force and engine of China′s economic development, the listed petroleum and petrochemical companies must must increase their investment in innovation if they want to continue to maintain their dominant position in the market and achieve sustainable development.Based on the above background, this paper takes the data of 112 listed petroleum and petrochemical companies in Shanghai and Shenzhen stock markets from 2015 to 2019 as samples to conduct an empirical research on the impact of enterprise R&D investment on corporate growth. The growth of petroleum and petrochemical listed companies is selected as explained variable, the intensity of R&D funds and R&D input intensity as explanatory variables, the company scale, capital structure and ownership concentration as control variable, and then related data was obtained from the descriptive statistics, correlation analysis, regression analysis and robustness testing. The explanatory variable is the comprehensive index obtained through factor analysis. The explanatory variable is the ratio of the R&D investment intensity and the total assets of the enterprise, and the R&D investment intensity is the ratio of the scientific and technological personnel and the total employees, the control variable is the logarithm of the total assets, the capital structure is the ratio of the total liabilities to the total assets, and the equity concentration is the shareholding

关 键 词：石油石化上市公司 研发投入 公司成长性 

分 类 号：F832.48[经济管理—金融学]