Research On The Contribution Of Technical Capital To Enterprise Value

In the increasingly fierce new technology and new economic era of competition, technical knowledge and become the most important factor in the process of enterprise competition, "knowledge economy" era, the characteristics of the current period of economic development, is a "high-tech oriented economy", mainly for the foundation of the new and high technology industries in technology intensive. Bio pharmaceutical manufacturing industry in high and new technology enterprise with relat ively large representative, national emphasis on bio pharmaceutical manufacturing industry, focusing on improving medical level in our country, and conform to our party to the people based principle to ensure long-term stability of our party. The study of the impact of technology capital on China’s enterprises is the main driving force for a country to obtain long-term competitive advantage, and it is an important booster for the sustainable growth of enterprises. Capit al is an enterprise to put the assets into the production process, the source of value creation. In the era of knowledge and technology, the role and status of technology assets are increasing, and the competition among enterprises has become the competition of knowledge and technology. For the biological pharmaceutical industry, technology capital occupies a large proportion in the investment capital, so it is important to study the technical capital of the industry to the enterprise value contribution.In this paper, through the analysis of some related theories of capital and technology, first of all to capital and technology, human capital and material capital equipment descriptive analys is, described the capital invested in the enterprise, found that the technology capital in venture capital investment share at least, by comparison, equipment and material capital in enterprise investment proportion. Finally regression model, the test technology capital, human capital and mater ial capit al equipment to the enterprise value contribution, to study the capital investment correlation results found, between capital and technology, human capital and material capital equipment does not exist significant correlation, using regression model obtained the technology capital of enterprise value has a positive and signif icant effect, the impact of technology capital to the enterprise value higher than effect of human capital, material and equipment to the enterprise value. Therefore, enterprises should increase investment in technical capital, slow down the investment of human capital and material equipment capital.Through to capital and technology, human capital and material capital equipment contribution to enterprise value research results, this paper argues that, it is necessary to strengthen the technology and human capital in the proportion of investment in bio pharmaceutical enterprises, appropriate to reduce the investment of material capital equipm ent, and found that the study of technology capital specif ic projects, the need to research and development investment as the core, increase research and development expenditure proportion of capital and technology, in order to better play the role of capital and technology in the enterprise value creation.