Supply Chain Relationship And Enterprise R&D Investment

In the era of economic globalization,manufacturing is an important economic entity in China,which is of great significance to the development of the national economy.China should promote manufacturing enterprises to increase their R&D investment,attach importance to the cultivation of high-end R&D personnel,improve the overall R&D vitality and level of the national manufacturing industry,and provide a solid guarantee for the realization of a manufacturing power.At present,the core technology of high-end products in Chinese manufacturing industry still has external dependence.We should accelerate the research and development of cutting-edge technologies to achieve product upgrading,and gradually shift from traditional development mode to high-quality development mode.Suppliers and customers in the supply chain are the key channels for enterprises to obtain innovative resources.Upstream and downstream partners in the supply chain can have a significant impact on the formulation of enterprise innovation strategies.This paper will discuss the factors that affect the R&D investment of manufacturing enterprises from the perspective of supply chain relationship,and how to better improve the supply chain management level of enterprises to enhance their R&D investment intensity.Based on the existing research,this paper conducts empirical analysis with supplier concentration,customer concentration and supply chain integration as indicators to quantify supply chain relationship.First,it studies the impact of supply chain relationship on enterprise R&D investment from the perspective of suppliers and customers.Secondly,this paper chooses monetary compensation incentives and internal control as the adjustment variables to test the regulatory role of corporate internal governance mechanism and governance level in the relationship between supply chain relationship and enterprise R&D investment.This paper then discusses the impact of supply chain relationship on enterprise R&D investment from the perspective of supply chain integration and the possible interaction between suppliers and customers in the ternary relationship with enterprises.Next,this paper studies the possible intermediary effect of financing constraints between supply chain relationship and enterprise R&D investment,and finally analyzes the heterogeneity according to the difference of enterprise market position and factor intensity.The results show that the supply chain relationship has a negative effect on the level of enterprise R&D investment.In the ternary relationship of supply chain,the interaction between partners exists,which can improve the commercial credit financing of enterprises,but fails to effectively alleviate the inhibitory effect of supply chain relationship on enterprise R&D investment.Enterprises can alleviate the negative impact of supply chain relationship on enterprise R&D investment by implementing monetary compensation incentive strategy and improving the internal control level of enterprises.The supply chain relationship will aggravate the financing constraints of enterprises and then affect the R&D investment of enterprises.The adverse effects of supply chain relationship in enterprises with high market position have been alleviated.In non-technology-intensive enterprises,the negative effects between supplier concentration and enterprise R&D investment are more significant,while in technology-intensive enterprises,there is a more significant negative effect between customer concentration and enterprise R&D investment.This paper discusses the relationship between supply chain relationship and enterprise R&D investment from the perspective of supply chain management,hoping to help enterprises improve the level of supply chain management,boost the confidence and vitality of enterprises to carry out R&D innovation,and realize the sustainable development of Chinese manufacturing enterprises.