【摘要】：國際上的競爭變得日益激烈，技術(shù)創(chuàng)新對于企業(yè)的發(fā)展來說是越來越重要了。尤其對于汽車制造行業(yè)來說，技術(shù)創(chuàng)新更是起著決定性的作用。但是相較于國外，我國的資本市場成立的較晚，還不是很健全，而且我國企業(yè)的研發(fā)投入信息的披露不是很規(guī)范，隨意性很強，所以研發(fā)投入對企業(yè)的財務(wù)績效是否具有正向的影響作用這個問題還缺乏實證研究方面的理論的支持。 本文就是基于這種需要，在借鑒前人研究的基礎(chǔ)上，通過對研究開發(fā)理論、技術(shù)創(chuàng)新理論、人力資本理論和企業(yè)的財務(wù)績效評價等相關(guān)理論的整理，以深滬兩市主板上市的47家汽車制造業(yè)企業(yè)為研究對象，選取了2010年到2012年間的基礎(chǔ)數(shù)據(jù)，研究企業(yè)的研發(fā)投入與財務(wù)績效之間的關(guān)系，運用的方法有因子分析法、描述性統(tǒng)計分析和多元線性回歸分析法。 本文首先對汽車制造業(yè)企業(yè)的財務(wù)績效進行了評價，采用的是因子分析法，提出了四個主因子，分別將其命名為：企業(yè)的償債能力因子、營運能力因子、盈利能力因子和企業(yè)的發(fā)展能力因子。然后基于研發(fā)投入的兩個方面：研發(fā)經(jīng)費強度和研發(fā)人員強度，提出了四個假設(shè)，，對其進行描述性統(tǒng)計和多元線性回歸分析。本文得出的結(jié)論是：企業(yè)單期和連續(xù)三年的研發(fā)經(jīng)費強度對企業(yè)的財務(wù)績效都有著顯著的正向的影響；企業(yè)研發(fā)人員強度對企業(yè)的財務(wù)績效無顯著的正向影響；企業(yè)的研發(fā)經(jīng)費強度對企業(yè)的財務(wù)績效具有滯后性的影響。 本文最后對研究的結(jié)果進行了進一步的較深層次的分析，得出了與本文研究相關(guān)的一些啟示、研究的局限性以及下一步應(yīng)該進行研究的方向，希望為以后的學(xué)者在汽車制造業(yè)方面的研發(fā)投入的研究提供一些參考價值。
[Abstract]:International competition is becoming increasingly fierce, technological innovation is becoming more and more important for the development of enterprises. Especially for the automobile industry, technological innovation plays a decisive role. However, compared with foreign countries, the capital market in our country was established relatively late, and it is not very sound. Moreover, the disclosure of R & D investment information of Chinese enterprises is not very standardized, and it is very arbitrary. Therefore, the question of whether R & D investment has a positive impact on the financial performance of enterprises is still lack of theoretical support in empirical research. This paper is based on this need, on the basis of previous studies, through the research and development theory, technology innovation theory, human capital theory and enterprise financial performance evaluation and other related theories. Taking 47 automobile manufacturing enterprises listed on the main board of Shenzhen and Shanghai Stock Exchange as research objects, this paper selects the basic data from 2010 to 2012 to study the relationship between R & D investment and financial performance of enterprises. The methods used are factor analysis. Descriptive statistical analysis and multiple linear regression analysis. Firstly, this paper evaluates the financial performance of automobile manufacturing enterprises, adopts factor analysis, and puts forward four main factors, which are named as solvency factor, operating ability factor, and so on. Profitability factor and enterprise development ability factor. Then, based on the two aspects of R & D investment: R D funding intensity and R D personnel intensity, four assumptions are proposed, and descriptive statistics and multiple linear regression analysis are carried out. The conclusions of this paper are as follows: the intensity of R & D funds for a single period and three consecutive years has a significant positive impact on the financial performance of the enterprise, while the intensity of R & D personnel has no significant positive effect on the financial performance of the enterprise. The intensity of R & D funds has a lag effect on the financial performance of enterprises. At the end of this paper, the results of the study are analyzed at a deeper level, and some enlightenment, limitations and the direction of further research are obtained. Hope to provide some reference value for the future research on R & D investment in automobile manufacturing.
【學(xué)位授予單位】：新疆財經(jīng)大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2014
【分類號】：F406.7;F426.471

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