Threshold Effect of R&D Investment in High-tech Enterprises
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| Title | Threshold Effect of R&D Investment in High-tech Enterprises
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| Author | Yang Jijun,Ao Xiang and Wu Min |
| Organization | Southwestern University of Finance and Economics; Chengdu Rural Commercial Bank |
| Email | yangjijun@swufe.edu.cn；304365334@qq.com；24286610@qq.com |
| Key Words | High-tech Enterprise; R&D; Threshold Effect |
| Abstract | Based on the R&D data of listed high-tech enterprises in China from 2008 to 2012, this paper for the first time finds that the R&D intensity of high-tech enterprises significantly demonstrate to aggregate around 3%, which is indicated “Threshold Effect”. This phenomenon illustrates that the R&D intensities of high-tech enterprises are eventually cut and sustained at a policy level which can just meet the current national recognition for high-tech enterprises. But the R&D intensity which can give the enterprises optimal margin performance is far higher than 3%. It shows that Chinese listed high-tech enterprises widely lack of impetus for R&D investment, and their behavior in R&D investment is just for obtaining the high -tech enterprise qualification. This behavior in R&D investment results in non-efficiency just because it brings the enterprises loss of optimal performance. |
| Serial Number | WP762 |
| Time | 2014-11-20 |
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