企業(yè)rd費用與企業(yè)資本結構、企業(yè)成長性的相關性實證研究

1、重慶大學碩士學位論文企業(yè)R&D費用與企業(yè)資本結構、企業(yè)成長性的相關性實證研究姓名：羅卡明申請學位級別：碩士專業(yè)：會計學指導教師：李嘉明20060401重慶大學碩士學位論文 英文摘要 II ABSTRACT In the time of knowledge-driven economy, more and more firms realize that they must develop their core technolog

2、y. According to the statistics of national investigation, we can see R&D investments, which represent the ability of innovation, are much lower than that of the average level of the world. In order to know more about

3、 the actual situation of R&D investments of firms in china, we make following empirical studies:(1)The influence of R&D investments to capital structure of firms.(2)The influence of R&D investments to growth

4、of firms.(3)Whether there is some difference between firms between intensive-R&D firms and non-intensive R&D firms. The paper, using 246 observations of listed manufacturing firms between the years 2002~2004, ana

5、lyzes the results of regression and provides the following empirical results: The intensive-R&D firms will lower asset liability ratio in order to avoid higher capital cost. In a short term, the R&D investments h

6、ave an ambiguous influence to the growth of firm. When it comes to the influence of capital structure to the growth opportunity (using MB as the proxy variable), there is no difference between intensive-R&D firms and

7、 non intensive-R&D firms. But, the capital structure of intensive-R&D firms, comparing non-intensive R&D firms, has a less influence to the growth (using rate of increase in sales). Key words: R&D invest