An Empirical Study On The Effect Of R&D Investment On The Performance Of China's Media Listed Companies

With the impact of the development of digital technology on the Internet,listed media companies have seen sharp declines in revenue from traditional businesses such as newspapers,books,and television.Therefore,many media companies are seeking to change,actively adjust the industrial structure,and expand new services such as games and live broadcasting to the digital media of the Internet.These all require technological development as support.Theoretically speaking,it seems that media companies' investment in innovation and company performance are necessarily linked,but how does the actual relationship between the two have a significant impact? In this paper,31 media listed companies are selected as samples,and their innovation input and company performance related data from 2015 to 2016 are selected as research objects to study the impact of innovation investment of listed companies on the performance of the company,and with other industry innovation input and companies.The results of the performance study are compared,the internal relationship between the two is explored,and corresponding suggestions are given for the investment in innovation of Chinese media listed companies.Combining research methods such as factor analysis,correlation analysis,and regression analysis,the paper finally draws the following conclusions: 1.The proportion of R&D personnel input in innovation investment is positively related to the performance of media listed companies;2.R&D input intensity to Chinese media listed companies The impact of performance is not significant.This article believes that the reasons for presenting this research result are the following: First,there is a certain lag in the investment of innovation by media companies,and the current investment in innovation cannot be rewarded in time.Second,the media industry itself is unique,and the media industry not only has technology.Innovation also includes content innovation,but the text only studies the investment in technological innovation of media companies;in addition,the number of research samples is too small.Because media companies are generally late to invest in innovation and there are fewer companies with this expenditure,the samples that can be studied are The quantity is very limited.Based on the empirical research results,this article puts forward several suggestions for the innovation input of Chinese media listed companies: 1.The company should formulate a long-term and reasonable R&Dinvestment plan to avoid blind investment;2.Optimize the allocation of innovative input funds;3.Attract high-quality R&D Personnel join in,improve the technical strength of the R&D team;4.Raise the management level of the innovators,improve the incentive mechanism of the researchers,and improve the work enthusiasm of the science and innovation staff.