Research On The Influence Of R&D Investment Of Photovoltaic Enterprises On Enterprise Performance

With the transformation of China's economy from high-speed growth to high-quality development,photovoltaic enterprises have played an important role in promoting the development of renewable energy technologies.In the past decade,with the strong support of the government,China's photovoltaic enterprises have been growing rapidly,and the photovoltaic industry chain has gradually developed and matured.China has become the world's leading photovoltaic power,and the photovoltaic enterprises have also become a part of the national key support.Although the development of photovoltaic enterprises is driven by the high government subsidies,the gap of government subsidies is growing due to the mismatch between the traditional subsidy mechanism and the development of new energy industry.In recent years,the government began to cut subsidies,2018,531 photovoltaic policy suspend expanding common photovoltaic power station construction,the technical product costs continue to drop and related industrial chain prices are a sharp downgrade,photovoltaic enterprises need to have advanced industrial technology advantages,in order to gain a foothold in the fierce competition in the photovoltaic market.For the photovoltaic manufacturing industry,innovative research and development and technology upgrading are important ways to enhance the core competitiveness of products and expand the product sales market.Although China's r & d investment increases year by year,but compared with other countries,r & d intensity is still in a rising stage.In the context of knowledge economy,the intensification of market competition has increased the urgency of enterprise innovation.As the basic unit of social economy,enterprises need to constantly create their unique core competitive advantages in order to improve their market share.However,Chinese enterprises have not yet regarded technological innovation as an important part of enterprise operation,and their investment in research and development is relatively small.Compared with some foreign enterprises,they lack the enthusiasm for innovation,which is bound to affect the long-term stable development of enterprises.Only by constantly enhancing the emphasis on innovation and strictly controlling each process of R&D can the effectiveness of R&D projects be better analyzed and evaluated,so as to correctly guide the company's R&D activities.This paper analyzes the relationship between R&D investment and enterprise performance by combining empirical and case studies.Firstly,the literature on R&D investment and performance of enterprises was sorted out,and the general conclusions on the relationship between R&D investment and enterprise performance were summarized.Secondly,a multiple linear regression model was established to analyze the correlation between R&D investment and corporate performance of photovoltaic manufacturing enterprises.By comparing state-owned and non-state-owned samples,the differences in the impacts of R&D investment of enterprises under different ownership were obtained.Finally,CMC magnetics and Oriental risheng are studied as cases.The research conclusion of this paper is that enterprise ownership will affect the R&D investment and enterprise performance of photovoltaic manufacturing enterprises.At the same time,the R&D investment of state-owned enterprises has nothing to do with the current corporate performance,while the R&D investment of non-state-owned enterprises has a significant positive effect on corporate performance.In addition,research and development investment has a lagging effect on enterprise performance,non-state-owned enterprises have an impact on the current and lagging enterprise performance,while state-owned enterprises have a lag of two years.