The Empirical Research Of The R&D Investment Of Pharmaceutical Manufacturing Companies And Prices

The paper was based on the pharmaceutical companies of A-share market,and tested the response of A-share market to the R&D investment information of listed companies with the linear regression statistical method which did the research on the relationship between the R&D investment data of pharmaceutical companies and their prices,so as to bring more useful direction and ideas for other pharmaceutical companies.Firstly,the paper hackled the previous studies on the relationship between R&D expenditure and share market,which provided us valuable reference and support for this paper.Secondly,it introduced the methods and ideas of this paper,and described the characteristics of the pharmaceutical companies.Then,the paper analyzed the status of intellectual property right which has significance to the pharmaceutical innovation,and we compared the difference between domestic and abroad,and pointed out the problems that might impact our innovation and creation of pharmaceutical industry in China,and then we analyzed the influence of R&D investment on the share market,which provided us the basis and the support for our empirical research.Finally,we chose biological and chemical pharmaceutical enterprises as samples,constructed a linear regression model to conduct empirical analysis,and draw the following conclusions: the R&D investment expenditure of the pharmaceutical manufacturing company and its price was significantly positive correlated.Which means the more R&D investment it discloses,the more attention and recognition the market gives,and the higher value the company is accepted by investors.People can predict and grasp the share price more effectively by cracking their R&D costs,thus forming the positive action and guidance for our pharmaceutical companies and bringing more value.Therefore,this paper put forward the following suggestions: improve legal system and strengthen the patent protection of our environment of pharmaceutical innovation and new products;enhance the R&D capabilities of our pharmaceutical companies;explore new governance modes and mechanisms;focus on long-term interests,and reduce the impact of immediate interests of enterprises decisions.