作　　者： ; ;

机构地区： 华南理工大学工商管理学院

出　　处： 《科技管理研究》 2010年第21期230-232,共3页

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。 The paper investigates the influence of ownership type,capital structure,cash flow and profitability on the RD intensity by using data from the listed companies which disclosed the RD investment information during 2003~2008.The paper finds out the following： the RD 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 RD intensity;development capacity and firm size also have a significant negative correlation with RD intensity;cash flow per share has no significant effect on the RD intensity in the state controlled firms,but has a significant positive impact on the RD intensity in the non-state controlled firms.This paper also gets the result that profitability has no significant effect on the current RD intensity,but a significant positive impact on the next period RD intensity instead.Profitability＇s influence on the RD intensity is delayed.

关 键 词： 研发强度 股权性质 资本结构 现金流量 盈利能力

领　　域： [经济管理] [经济管理]