CAJ | 학술논문

本论文利用在沪、深两市全部上市公司的年报数据,从企业微观层面分析了上市公司的研发投入整体情况和分行业的研发投入特征.同时从分行业的角度分析企业规模、企业产权属性和行业集中度对企业研发投入的影响.通过研发发现,中国上市公司的整体研发投入强度要高于规模以上工业企业的研发投入强度,但是还远远低于全球研发活跃企业的研发投入强度.企业规模和企业研发投入强度之间呈现正U型关系,中型规模企业的研发投入弹性要低于大型企业和小型企业.从企业的产权属性来看,民营企业的产权属性对提升企业的研发投入弹性具有正向的促进作用.从企业所在行业的市场结构来说,行业市场集中度对行业企业研发投入强度没有显著的相关性.
본논문이용재호、심량시전부상시공사적년보수거,종기업미관층면분석료상시공사적연발투입정체정황화분행업적연발투입특정.동시종분행업적각도분석기업규모、기업산권속성화행업집중도대기업연발투입적영향.통과연발발현,중국상시공사적정체연발투입강도요고우규모이상공업기업적연발투입강도,단시환원원저우전구연발활약기업적연발투입강도.기업규모화기업연발투입강도지간정현정U형관계,중형규모기업적연발투입탄성요저우대형기업화소형기업.종기업적산권속성래간,민영기업적산권속성대제승기업적연발투입탄성구유정향적촉진작용.종기업소재행업적시장결구래설,행업시장집중도대행업기업연발투입강도몰유현저적상관성.
The paper analyzed the overall situation in R＆D investment of the companies listed in Shanghai or Shenzhen stock market and the effects of R＆D investment by enterprise scales, ownership and industry concentration. The study showed that R＆D investment intensity of the listed companies was stronger than designated scale industrial enterprises, but much lower than the global enterprises with active research and development. A U-shaped relationship was found between enterprise scale and R＆D investment intensity, and the income elasticity of R＆D in- vestment of medium enterprises was lower than others. Private ownership of the enterprises was positive to improving the income elasticity of R＆D investment, and there was no significant correlation between industry concentration and intensity of R＆D investment.