R&D Investment and The Performance of Firms:Empirical Analysis Based on Listed SMEs' Data

• 作 者: Li Xianzhen Wu Jinxi
• 机 构: Center of Strategic Emerging Industries,Tsinghua University,Institute of Science,Technology &Society
• 出 处: 创新与创业管理
• 发表日期: 2011年00期
• 关键词: return Securities listed estimates have manufacture innovative expenditure secto

Based on 122 listed SMEs in Shenzhen Securities,this study evaluates the current situation of SMEsR&D investment and estimates R&D rate of return by using Cobb-Douglas production function as econometric studies of the contribution of R&D.The main findings are that the science-based sectors with the highest R&D intensity have a relatively low rate of return to R&D,the very traditional industries have the lowest return.Finally,we give some explanations to these findings.

Based on 122 listed SMEs in Shenzhen Securities, this study evaluates the current situation of SMEsR & D investment and estimates R & D rate of return by using Cobb-Douglas production function as econometric studies of the contribution of R & D. The main findings are that the science- based sectors with the highest R & D intensity have a relatively low rate of return to R & D, the very traditional industries have the lowest return. Finally, we give some explanations to these findings.