Research On The Impact Of R&d Investment On Enterprise Performance

With the rapid development of economic globalization,Chinese local industries and enterprises are facing the dual challenges of internationalization of domestic competition and internalization of international competition.Therefore,how to improve the technological innovation level of enterprises to obtain competitive advantage and improve the performance of enterprises has become one of the important problems that Chinese enterprises are facing now.Existing research has proved that research and development investment is an important guarantee for enterprises to improve the level of technological innovation.It is also proved that research and development investment is the basis for the company to achieve long-term development.Pharmaceutical industry as a technology-intensive industry,technological innovation plays an important role for pharmaceutical enterprises to gain competitive advantages in the market.Therefore,pharmaceutical enterprises must pay more attention to R&D investment.The purpose of this paper is to explore the mechanism by which the competitive advantage of R&D investment can affect the of enterprises performance,so that it can promote the integration and utilization of resources,and improve the learning ability and innovation level.Therefore,based on resource-based theory,competitive advantage theory and technological innovation theory this paper takes the case study method of shanghai pharmaceutical company as the object,collects the relevant data of the company's R&D capital and manpower input.Our contributions are listed as follows: First of all,this paper uses R&D capital investment and R&D manpower input to jointly describe R&D investment.At the same time,it adopts two kinds of indicators,financial performance and non-financial performance,to measure enterprise performance.Therefore,it helps to deeply analyze the relationship between R&D investment and corporate performance.Secondly,this paper through the case analysis of Shanghai Pharmaceutical Company,refines the two dimensions of customer value and innovation based on Porter's competitive strategy theory,which helps to theoretically determine the relationship between R&D investment and corporate performance Black box.Thirdly,this paper uses the case study method to analyze the specific case,which helps to make up for the individual differences caused by the relationship between the two from the perspective of empirical research.Finally,the theoretical framework of “R&D investment—competitive advantage—enterprise performance” constructed in this paper provides decision-making guidance in the process of enterprise practice,thus helping pharmaceutical industry enterprises to make scientific decisions in practice and fundamentally improve the competitive advantage of enterprises.And this paper reveals the problems that the case enterprises may have in the process of R&D investment transformation through specific cases,and provides practical guidance for decision makers of other listed companies.