Research On The Influence Of R&D Investment On Financial Performance Of High-Tech Enterprises

At present,our country has always been known as a big manufacturing country,but with the rising labor cost,the advantages of labor-intensive manufacturing industry no longer exist.Only by attaching great importance to improving the core competitiveness and innovation ability of enterprises can we save the reality of most enterprises in China.So far,China has put forward ‘made in China 2025’,which aims to make the manufacturing industry informative and intelligent.At the same time,at the beginning of 5g technology,in order to seize resources,countries must vigorously develop science and technology independently and get rid of the absolute dependence on technology.This study focuses on ‘the impact of R & D investment on corporate financial performance’.Based on the data of 120 high-tech listed companies in China from 2015 to 2018,this paper studies the impact of R & D investment on the financial performance of the sample companies.The results show that the current R & D investment has the most significant impact on the financial performance of the lagged phase I and phase II,which not only shows that R & D investment has a positive impact on the development of enterprises,but also shows that the impact has timeliness.In the case part,starting from two high-tech enterprises with totally different strategies,the annual report data of Huawei,which focuses on technology research and development,and Lenovo,which takes the route of ‘trade technicians’ in recent ten years are compared and analyzed,mainly from the impact of the R & D investment intensity of the two enterprises on their financial performance.The R & D investment intensity of Huawei is far higher than Lenovo,and the financial performance level is far higher than Lenovo.Scientific and technological innovation is the general trend,and the R & D investment intensity of Lenovo enterprises is also increasing year by year,but the growth is not as good as the average value of high-tech sample enterprises,resulting in a negative effect on financial performance.Based on this,relevant suggestions are put forward for R & D investment activities of high-tech enterprises.