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《Science Research Management》 2018-06
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Threshold effect of R&D investment in high-tech enterprises

Yang Jijun;Ao Xiang;Wu Min;School of Accounting,Southwestern University of Finance and Economics;Chengdu Rural Commercial Bank;  
Taking the data of RD of listed Chinese high-tech enterprises as examples,this paper,based on the Static Threshold Estimation Model and the Revised Dynamic Adjustment Model,finds out for the first time that the singularity of most Chinese high-tech enterprises,the RD intensity of which gets together and takes around dynamically with 3%,as well as their threshold effect. It can be seen from this paper that the RD intensity of most Chinese high-tech enterprises were set to meet the basic requirement of the policy of qualification recognition for Chinese high-tech enterprises. Those companies set their RD intensity to only get qualified,and then gain a variety of policy benefits,thus lacking of initiative to carry out a large number of RD in innovation.
【Fund】: 国家自然科学基金(项目编号:71273212 2013-2015);; 中央高校基本科研业务费专项资金资助(项目编号:JBK1607007 2016-2017)
【CateGory Index】: F273.1;F275;F276.44
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