我国高新技术企业研发投入的绩效分析――来自中小企业板上市公司的经验数据

首都经济贸易大学硕士学位论文我国高新技术企业研发投入的绩效分析——来自中小企业板上市公司的经验数据姓名：张海燕申请学位级别：硕士专业：会计学指导教师：崔也光20080301IV2004-2006464646,VAbstractTodaytheinternationalcompetitionisveryvigorousforthemodernnewandhightechnologyenterprisetakingontheheavyresponsibilityaboutindustrializationofscienceandtechnologyfruit,theactivitiesofR&DbecomethecoreofimplementingenterprisestrategyaboutdevelopmenttheR&Dactivity’sroleofimprovingthesurvivalandwholecompetitioncapabilityofenterpriseismoreandmoreimportantofR&Dcapitalthrowninnewandhightechnologyenterprisewhichisverybigintheenterpriseoperationcapital.Thisthesischoosesforty-sixenterprisesfromthemediumandsmallsizedmarketwhichofferstheR&Dinformationinthreeconsecutiveaccountingyearsasswatch,offersempiricalstudyofthecorrelationbetweenChina’shigh-techniqueenterprises’R&Dinputandtheiroutput,andthen,anexplanationtotheempiricalresultsisfollowed.AndoffertheadviceofR&Dinformationdisclosure.Thewholethesisconsistsoffiveparts:Thefirstpartisintroduction.Thispartistosummarizethereasonwhytoselectthetopicandthesignificance,researchareaandresearchaim,researchframe,therelatedconcept,literaturesummarization,researchpeculiarity,researchshortageandthefurtherresearchdirectioninthefuture.ThesecondpartisthetheoryofChina’slistedhigh-techniquecompany'sperformanceappraisalofR&Dexpenditure.ThispartistosummarizethetheoryofR&Dandthebasicmethodofperformanceappraisal.Thethirdpartisthehypothesisandmethodofresearch.Thispartdesignedtheresearchvariableandmeasure,summarizedthetheoryofR&Dandbasicmethodofhigh-techniquecompany’sperformanceappraisal.ThefourthpartisempiricalstudyofR&Dandenterprise’sperformanceappraisal.ThispartusedthebuiltmeasuresystemandmethodmodeltomakeempiricalstudyofR&Dandenterprise’sperformanceappraisalofforty-sixhigh-techniqueenterprises.ThefourthpartistogiveadviceofR&Dinformationdisclosureofhigh-techniqueenterprisesinmediumandsmallsizedmarket.ThispartistosummarizetheactualityofR&Dinformationdisclosureofhigh-techniqueenterprisesinmediumandsmallsizedmarket,andregulationofaccountinghandlemethodtoR&Dgivenbythenewaccountingrule.Then,itgavetheadviceofR&Dinformationdisclosureofhigh-techniqueenterprisesinmediumandsmallsizedmarket.Thisthesisfoundthatasfollows:first,theR&Dexpenditurecanbringgratedevelopmenttomediumandsmallsizedenterprises.TheR&Dexpenditureandthegrowingmeasurehavegratepluscorrelation.Second,theresultofempiricalstudyshowsthatR&DVIexpenditurehaslesscontributetoROV,andalsohaslesscontributetoEPSandNPS.R&Dexpenditureofmediumandsmallsizedenterpriseshasnocorrelationwithitspayoffmeasures.Third,R&Dexpenditurehasnocorrelationwithitsinnovationcapability.ThereasonofthisresultisthattheR&Dexpenditureploughedintoenterpriseisofnoeffectanditdidn’tturnitintotechnologyassets.Keywords:Medium&smallsizedenterprisesHigh-techniqueenterpriseR&DexpenditurePerformanceappraisalEmpiricalstudy16511.1::12345????1.2200626520031:200312004-200646461.3:(1)(2)(3)(4)46(5)1.43651.4.1(2000723):12)30%10%320%45%560%660%7:1)2)3)4)5)6)7)8)9)10)11):1.2.3.1.4.2ResearchandDevelopment()465():110%23451.4.3:20003430030004000565:(1)(2)(3)(4):1.4.42004517(1)(2)6651.51.5.1;Taggart(2004):Helfat(2005)765HelfatPigaVivarelli(2003)Lee(2003)HitKim(2005)HoldernessSheehan(2002)Levin,Klevorick,NelsonWinter(1987)Nakahara(1997))JensenMeckling(1998)()8651995)BuskinLau2005:81%84%93%3.0(15%)/FTSE()100869%FTSE1007%CohenandLevinthal(1989)1GavinCameron19942208020802090DavidAboodyBaruchLev20013COMPUSTAT8380%5%19994.7%4.84%7326-27%1CohenandD.Levinthal,1989,InnovationandLearning:TheTwofacesofR&D.EconomicJournal.V99p569-5962GavinCameron,1994,InnovationinUKManufacturing.ThisresearchwassupportedbyESRCgrantR0002349543DavidAboodyandBaruchLev,2001,R&DProductivityintheChemicalIndustry,(2004)51994-200083-0.1922%1.5.2:2003:4ValdemarSmith,MogensDilling-Hansen,TorEriksson,ErikStrojerMadsen,2004,R&DandproductivityinDanishfirms:someempiricalevidence.AppliedEconomics.v36i16p17975Kuen-HungTsaiJiann-ChyuanWang,2004,TheR&DPerformanceinTaiwan'sElectronicsIndustry:ALongitudinalExamination.R&DManagement.Vol.34,No.2,pp179-1891065::::2004:500095%:122005:116520046200571995-200320028DEADEA20039603BTJ001(1995-2003)200593148R&D[z]..2002(11):54609.R&DIJ]..2003(2):879212652006102002522001200288R&D????1.6:(1)20074610200611211261365(2)1.7:(1)07464630(2)46(3)(4)146522.12.1.1(1)(2)(Cobb-Douglus)(Harrod-Domar)(solow)(3)2080:Murp,ShleiferVishny1565(1989)Arrow(1962)(4)::201913192550-5530(Kuznets)()1665902.1.2(1)(ResearchandDevelopment)(UNESCO):()()(STET)(STS)UNESCO(2)();:;:(3)1765:J2.1.31865::;10%()5001965206521652.22.2.12090(LynchandCross1991)(BSC)(KaplanandNorton1992)KPMG(Bell1997).(EuropeanindustrialResearchManagementAssociationEIRMA)211014:(1)(2)2.2.2(DEA)2265.AHP2365BPBP:12BP3DEA()DEA2465331,,,,,,,,,,,,,,1,,2,20024(),2565LevThiagajan(1993)(1999)(2001)(2002)26653.1=*3.220031:200462520071120670%60%276520031()2007464646200420052006