An Empirical Study of R&D Investment and Firm Performance Based on Changes in Enterprise Accounting Standards

This paper makes a study of high-tech listed companies from the year 2004 to 2009.From the three areas of profitability,capacity development and technical competence and during the period before and after the new Enterprise Accounting Standards has been implemented,the author tries to investigate the relationship between high-tech RD investment intensity and corporate performance.The results show that the current high-tech listed companies in China usually are short of RD investment intensity and continuity.Additionally,RD investment intensity,RD staff input intensity are associated with the several indicators which reflect the performance while the lag effect is not obvious.Changes in Enterprise Accounting Standards have little effect on the relationship between RD investment intensity and corporate performance.