The Analyse Of Impact Of R & D Input On CHANA Automobile Financial Performance

The 70 th anniversary of the founding of our country in 2019,the 40 th anniversary of reform and opening up,the status of our automobile industry in the world from nothing to have,and now ten consecutive years ranked the world’s largest auto market,has made remarkable achievements.Since entering the 21 st century,China’s automobile sales have been steadily rising,but in 2018 has ended the momentum of sustained growth,which means that our country’s automobile sales "bull market" is over.With the challenges facing China’s automobile industry becoming more and more severe,simple manufacturing cannot meet the needs of our consumers,and research and development has become a good strategy for the future development of China’s automobile enterprises.CHANA automobile as a large state-owned automobile manufacturing enterprises,research and development is particularly important to it.In recent years,it can be seen from the financial statements of CHANA Automobile that its R&D strength has been the first in the Chinese automobile industry for five consecutive years,but whether its R&D investment is related to financial performance is worthy of further study.This paper adopts the correlation analysis method to compare and analyze the correlation between the R&D investment and the financial performance of CHANA automobile with the competitor Great Wall Automobile,and puts forward some suggestions to CHANA automobile and related departments according to its correlation results.In the research method,CHANA automobile belongs to the state-owned enterprise,so according to the interim measures of the central enterprise comprehensive performance evaluation management,the comprehensive financial performance can adopt the efficiency coefficient method.On the basis of Wal-score method,twenty-two financial indexes are converted into measurable scores through the efficacy function,which makes up for the deficiency of the traditional Wal-score method.Then through the correlation analysis,the correlation coefficient and fitting chart analysis of each index of R&D investment and the score of comprehensive financial index are carried out to quantify the correlation between the two,which is more objective.This paper is divided into six parts to study.The first part is the introduction,which includes the research background,research significance,literature review,research content and methods and innovation points.The second part is the definition of concept and theoretical basis,which involves the definition of related concepts,theoretical basis and the mechanism of R & D investment on the financial performance of enterprises.The third part introduces the basic situation of CHANA Automobile Company.Firstly,it expounds the current R & D activities of CHANA Automobile,and lays the foundation for the selection of R & D investment index by understanding R & D activities.Secondly,it determines the four indexes of total R & D investment,R & D investment,R & D investment,R & D investment and above.Finally,according to the interim measures of comprehensive performance evaluation and management of central enterprises and the financial statements of enterprises,the actual values of 22 indexes from 2011 to 2018 are calculated,and then the comprehensive performance score of CHANA Automobile and the Great Wall Automobile is obtained by using the efficiency coefficient method.Among them,the selection of the weight of each index and the determination of the standard value of the efficacy coefficient method are obtained according to the book "Enterprise performance Evaluation Standard value" published annually by the SASAC Evaluation and Distribution Bureau of the State Council.The fourth part calculates and draws the correlation coefficient and fitting diagram of each index of R & D investment and enterprise comprehensive performance score,and obtains the correlation between R & D investment and financial performance of CHANA Automobile and the Great Wall Automobile.The fifth part is the result and reason analysis of this paper:from the comparison results,R & D investment can bring positive effect on financial performance,but when the calculation lag period is short,it is negative correlation,and the negative correlation degree of CHANA Automobile is stronger,so it analyzes CHANA Automobile in R & D project,R & D efficiency,R & D personnel and personnel recruitment.The sixth part is to provide feasibility advice to CHANA Automobile and the government.The seventh part is the limitation and prospect.In the aspect of innovation: first,from the point of view of research method,this paper uses the efficiency coefficient method to calculate the comprehensive financial performance of state-owned enterprises,and carries on the correlation analysis with each index of R&Dinvestment.Second,the research conclusion angle,this article to CHANA automobile R&D investment to the financial performance influence analysis discovers the question,provides the consideration factor for the country to the enterprise R&D investment use efficiency.The third is the research object angle,to the previous literature analysis,so far no scholar studies the CHANA automobile R&D investment,therefore has the guidance significance to the CHANA automobile in the R&D investment decision.