The Influence Of R&D Expenditure On Enterprise Value Of E-commerce Enterprises

E-commerce enterprises are the most typical product of today’s scientific and technological development.How can the emerging e-commerce enterprises change their strategies? How to carry out enterprise innovation? Based on this problem background,this paper explores the economic consequences of R &D expenditure.The reason why this problem is important is that for e-commerce companies,R &D expenditure,as an investment activity for enterprises to create new wealth,is the key guarantee for e-commerce listed companies to realize value creation and sustainable growth.At the same time,R &D expenditure,as an information disclosure with market information content,helps investors objectively evaluate the development and profit potential of the company in terms of R &D investment through in-depth research on the expense of R &D expenditure,which is conducive to investors’ scientific and reasonable investment.External investors can also make reasonable research and judgment on the company’s medium and long-term development prospects and market prices through the company’s R &D level,so as to lay a foundation for investment and have very important value for investors’ decision-making.Based on the relevant data of Jing Dong company’s financial statements and the analysis of the accounting treatment of R &D expenditure,this paper explores the role of R &D expenditure in enterprise value in the e-commerce industry.The analysis results show that the e-commerce industry is often affected by prudent accounting policies,which expenses all R &D expenditure,resulting in the inaccurate disclosure of the real financial situation of enterprises.Based on the theoretical model of enterprise value,and finds that R &D intensity will have a positive impact on enterprise value;Over expensing R &D expenditure will lead to the underestimation of asset income and the deviation of operating performance.This is because the expensing part of R &D expenditure will be directly included in the long-term loss,which conveys a negative value message to investors.Without the support of comprehensive and reliable market information,investors reduce their investment in the enterprise,as an index to measure the market value of enterprises,can more objectively reflect the market value of enterprises.Tobin Q value itself has market stability and can be implemented,and is not affected by investors’ accounting habits The impact of changes in various external environmental factors such as tax policies and regulations.In this regard,this paper proposes that the choice of R &D accounting policy should be constrained,strengthen the supervision of internal R&D projects,the capitalization proportion of R &D projects should follow the enterprise value,and the government should provide a good innovation environment and policy environment for enterprises.