[1]张 英,吴雨璐. 研发投入对医企价值的跨期影响实证研究[J].湖北工业大学学报,2021,(6):41-45.
　ZHANG Ying,WU Yulu. An Empirical Study on the Intertemporal Impact of R&D Investment on Enterprise Value in Pharmaceutical Manufacturing Industry[J].,2021,(6):41-45.
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 研发投入对医企价值的跨期影响实证研究()
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《湖北工业大学学报》[ISSN:1003-4684/CN:42-1752/Z]

卷:
期数:
2021年第6期
页码:
41-45
栏目:
湖北工业大学学报
出版日期:
2021-12-31

文章信息/Info

Title:
 An Empirical Study on the Intertemporal Impact of R&D Investment on Enterprise Value in Pharmaceutical Manufacturing Industry
文章编号:
1003-4684(2021)06-0041-05
作者:
 张 英;  吴雨璐
 湖北工业大学经济与管理学院， 湖北 武汉 430068
Author(s):
 ZHANG Ying; WU Yulu
 School of Economics and Management，Hubei Univ. of Tech，Wuhan 430068，China
关键词:
 ; 医药制造业;  研发投入;  企业价值;  滞后效应;  累积效应
Keywords:
 ; pharmaceutical manufacturing industry; R&; D investment; enterprise value; hysteretic effect; accumulative effect
分类号:
F273.1， F406.7
文献标志码:
A
摘要:
 医药制造业的研发创新能力是社会各界关注的热点问题。以我国医药制造业上市公司2012-2019相关数据为研究对象，构建回归分析模型，实证分析该行业上市公司的研发投入对企业价值的影响，以及企业研发投入带来的滞后效应与累积效应。结果发现，医药制造上市公司研发投入当期对企业价值影响不显著，但存在滞后效应，滞后第三期的影响最显著，且样本公司研发投入对企业价值的影响具有累积效应。系统揭示了我国医药制造业研发投入与企业价值之间的关系现状，以及医药制造业上市公司研发创新中存在的短期行为、持续性不足等问题，提出改进对策和政策建议。
Abstract:
 The innovation capability of pharmaceutical manufacturing industry is a hot issue concerned by all sectors of society. Taking the relevant data of listed companies in pharmaceutical manufacturing industry of China from 2012 to 2019 as the research object, this paper constructed a regression analysis model to empirically analyze the impact of R&D investment on enterprise value, as well as the lag and cumulative effect brought by R&D investment. The results showed that R&D investment of Companies in pharmaceutical manufacturing has no significant impact on enterprise value in the current period. However, there was a lag effect in the impact of R&D investment on enterprise value, and in the third phase of R & D investment laid maximum. And the impact of R&D investment of sample companies on enterprise value had a cumulative effect. The research systematically revealed the current situation of the relationship between R&D investment and enterprise value, and revealed the problems of short term behavior and insufficient sustainability in innovation of listed companies in pharmaceutical manufacturing industry. The paper put forward improvement countermeasures and policy suggestions in order to reasonably increase R&D investment, continuously improve innovation capability and enhance enterprise value of listed companies in pharmaceutical manufacturing industry of China.

参考文献/References:

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备注/Memo

备注/Memo:
［收稿日期］ 2021-06-18
［基金项目］ 国家社科基金后期资助项目（18FJY007）
［第一作者］ 张 英（1964-），女，福建永定人，湖北工业大学教授，研究方向为企业财务管理理论与实务、风险管理
［通信作者］ 吴雨璐（1996-），女，湖北襄阳人，湖北工业大学硕士研究生，研究方向为会计学
更新日期/Last Update: 2022-01-04