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技术创新是现代企业获得核心竞争力和持续发展的源泉。本文利用京津冀地区上市公司2009—2013年连续披露的相关数据,对R&D投入与企业经营绩效的关系进行实证分析。研究结果表明,当年的R&D投入和企业当期经营绩效存在负相关性,R&D投入对企业经营绩效的影响存在明显的滞后效应,且呈正相关关系,另外现金流量和企业规模对企业经营绩效也存在显著影响。
Technological innovation is a source of modern enterprise’s core competitiveness and sustainable development. In this paper, we use the data of continuous disclosure of listed companies in Beijing-Tianjin-Hebei region from 2009 to 2013 to analyze the relationship between R & D investment and business performance. The results show that there is a negative correlation between current R & D investment and current business performance, and there is a significant lag effect between R & D investment and business performance, and there is a positive correlation between R & D investment and business performance. In addition, cash flow and firm size also have significant effects on business performance influences.