Research On Information Disclosure Of R&D Expenditure In China's Pharmaceutical Industry

With the aggravation of market competition and the acceleration of product renewal,more and more enterprises realize that R &D plays an important role in accelerating the speed of putting products on the market,improving the efficiency of product R &D and enhancing the competitiveness of enterprises in the market,and promoting the R &D management to the strategic level of enterprises.As a part of China's capital market,the survival and development of the pharmaceutical industry largely depends on the disclosed accounting information.R &D activity is the decisive factor for pharmaceutical listed companies to gain the dominant share in the market competition,and the disclosure of R &D expenditure accounting information is highly related to the enterprise value.Since the promulgation of the new accounting standards for business enterprises in 2006,experts and scholars in China have strengthened the relevant research on the disclosure of R &D expenditure information.At present,most of the research focuses on the problems existing in the disclosure of R &D expenditure information,such as the low degree of R &D expenditure disclosure,the irregular disclosure format,etc.,and most of the sample enterprises studied are high-tech enterprises.Scholars have a relatively high level of involvement in the pharmaceutical industry After the promulgation of the new income standard,the content and format of R &D expenditure related information disclosure are in a state of constant adjustment.There are few practical application studies on how to refine the content of R &D expenditure information disclosure in practical operation.This paper mainly focuses on the pharmaceutical industry.After studying the current situation of R & D expenditure information disclosure of Listed Companies in China's pharmaceutical industry,it is found that R & D expenditure in the pharmaceutical industry has the characteristics of high risk,high investment and high return.In recent years,pharmaceutical listed companies have increased their R & D investment year by year,and the completeness of R & D expenditure information disclosure in the annual report has also improved.However,due to the flexible accounting treatment of R & D expenditure and the consideration of technical confidentiality of R & D achievements of some enterprises,at this stage,some enterprises in China have not yet provided R & D information according to their own conditions Disclosure,the disclosure content is not comprehensive and the disclosure format is not unified.In this paper,we choose the case of Changsheng biology to study,and find the problems of research and development information disclosure of Changsheng biology in recent years: first,the disclosure of research and development information is not standardized;second,the disclosure of research and development information is not comprehensive.The reason is that the disclosure of R & D information of Changsheng biology is for the purpose of self-service;the disclosure content of R & D information has the consideration of technical and commercial confidentiality;the professional quality of relevant personnel of R & D information disclosure is not high;the disclosure of R & D expenditure has the defects of system and supervision.After considering the common problems of pharmaceutical enterprises and the individual problems of immortality,this paper puts forward suggestions for improving the disclosure of R & D information in pharmaceutical industry from the perspectives of management system,enterprises themselves and regulatory departments: first,policy-making departments should constantly improve relevant rules and regulations;second,they should establish a continuous and dynamic disclosure system;third,enterprises should improve accounting standards Fourth,the regulatory authorities should strengthen the supervision of R & D information disclosure;fifth,the enterprises should actively explore the balance between the full disclosure of information and the protection of technical and commercial secrets.At present,the academic community has made a more in-depth study on the theory of accounting information disclosure,but the R & D information itself has complex and diversified characteristics.In addition,compared with foreign countries,the research on the R & D expenditure information disclosure in China started late,and the related theoretical research on the R & D information disclosure,especially in the pharmaceutical industry,is less.Therefore,this paper focuses on the pharmaceutical industry The research of R & D expenditure information disclosure provides a reference for the future research of R & D information disclosure in China.This paper analyzes the current situation,existing problems and causes of R & D expenditure information disclosure in the pharmaceutical industry,and puts forward suggestions for improvement,which can better reflect the value of the enterprise,fully reflect the R & D innovation ability and development potential of the enterprise,and help the enterprise to raise funds in the capital market;for external investors,through a complete and transparent cover Information disclosure can objectively and comprehensively evaluate the R & D situation of enterprises,make reasonable investment decisions and reduce investment risks.This paper analyzes the regulatory problems of R & D information disclosure,which provides a reference for regulatory authorities to formulate a standard and reasonable information disclosure system.