Research On The Impact Of R&D Expenditure On Enterprise Value Of JS Company

At present,China is in a period of rapid development,the core technology of enterprises in the development of science and technology at the same time update progress,innovation is still the theme of this era.In recent years,China has also increased preferential policies for high and new technologies and relaxed standards to encourage enterprises to achieve the purpose of transformation through technological innovation.Many state-owned enterprises closely follow the national policy guidance and follow the national policy,and put the core strategy of the company on innovation research.As the country attaches greater importance to enterprise innovation,enterprises increase their investment in R&D.Although R&D innovation improves the core competitiveness of enterprises and the value of enterprises,it may bring risks to enterprises due to the characteristics of large investment in R&D and long cycle.Therefore,in this paper,in addition to the research on the impact of enterprise R&D investment on enterprise value,this paper also measures the market value and enterprise risk of the enterprise,so as to comprehensively discuss the value of the enterprise.In this paper,through the literature research method,case analysis method,comparative analysis method,JS company R&D investment on the impact of enterprise value for a comprehensive study.By calculating the operating profit rate,return on assets and other indicators to measure the profitability and development ability of the enterprise,reflect the financial value of the enterprise.The residual income model is used to evaluate the market value of the enterprise.The Z-score model is used to measure the enterprise risk.Finally,it is concluded that the R&D investment of JS company has a positive impact on the enterprise value.Compared with the same industry,the R&D intensity of JS company needs to be strengthened.At the same time,the profits brought by R&D activities to the enterprise are unstable and lagging behind.Through the study concluded that JS company began to carry out research and development activities.Because the R&D center was established for a short time,compared with the industry enterprise R&D cost investment intensity,JS company’s R&D cost investment intensity is at a relatively low level,the impact of R&D cost on the financial value of the enterprise is unstable.Although the market value of JS company is rising year by year,but the intensity of enterprise research and development investment is not high,the main factor of the rise in market value is still around the income of road construction and housing construction.JS research and development investment has a positive impact on the market value,but the impact is limited.In addition,in the aspect of risk,it is found that the impact of JS company’s R&D expenditure on enterprise risk is not obvious.Put forward reasonable suggestion to JS company.First,improve accounting management,improve information disclosure.Second,improve the awareness of R&D and innovation of all staff,strengthen the professional ability of relevant personnel.Third,establish a good enterprise tax relationship,reduce the risk of enterprise operation.Fourthly,broaden the business scope of the enterprise and increase the investment in research and development.Fifth,strengthen school-enterprise cooperation,realize internal cultivation and external introduction,and enhance employee loyalty.VI.Expand various financing channels and actively collect receivables.VII.Establish a research and development budget management system and improve the input-output mechanism of research and development expenses.It is hoped that this paper can provide reference for the impact of R&D investment on enterprise value of other non-listed companies.