Research on the influence of R&D Investment on Firms' Performance --base on the perspectives of investment intensity and patent protection institution

Science Research Management ›› 2016, Vol. 37 ›› Issue (7): 47-53.

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Research on the influence of R&D Investment on Firms' Performance --base on the perspectives of investment intensity and patent protection institution

Lin Zhouyu^1,2, Lin Hanchuan², Deng Xinghua³

1. School of Economics and Management, Fuzhou University, Fuzhou 350001, Fujian, China;
2. Research Center for Small and Medium Enterprise, University of International Business and Economics, Beijing 100029, China; 
3. School of Public Policy and Management, Tsinghua University, Beijing 100084, China

Received:2014-07-07 Revised:2015-08-25 Online:2016-07-20 Published:2016-07-12

Abstract

Abstract: Using Chinese industrial firms data from the National Bureau of statistics this paper analyzes the influence of R&D investment on the firm performance. The results show: (1) R&D investment has an inverted U-shaped influence on firm performance, this relationship is deeper in firms with high level of human capital; (2) patent application and authorization strengthen the positive role of R&D investment on firm' performance; (3) when the institution environment is weaker, the R&D investment is harmful to firm' performance, and this effect is more pronounced in non-state-owned firms. This paper extends the theoretical framework for the study of R&D investment economic consequences from the four aspects of investment intensity, innovation behavior and institutional environment, and provides implications for the government .

Key words: R&D investment, firm performance, institution environment, transformation and upgrading

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Research on the influence of R&D Investment on Firms' Performance --base on the perspectives of investment intensity and patent protection institution

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