中美企业研发绩效比较研究

R&D Performance Comparison between Chinese and the United States Enterprises

摘要: 经济全球化时代，研发创新成为企业应对竞争的重要方式。中国企业研发投入逐年增加，形成了一批重要研究成果，但是与美国相比仍有较大差距。本文在对中国和美国整体研发产出状况、企业研发投入在全球排名情况、企业自身研发管理现状等角度进行对比分析基础上，进一步对在研发创新方面具有代表性的高科技企业进行深入分析，得出美国高科技企业研发投入强度与企业总资产净利率呈负相关，且这种影响具有滞后性；中美两国高科技企业研发投入强度与企业营业收入增长率均具有正相关关系，且美国高科技企业中这种正相关关系更为明显；中国的高科技企业资产负债率和企业规模对企业的研发活动具有显著影响，而在美国高科技企业中，这种影响不显著；美国高科技企业行业分布较中国更集中，行业间的研发投入差异性也更大；中国高科技企业中，政府补贴能够提高研发投入强度对企业盈利能力的解释力度，最后本文提出了相关政策建议。

Abstract: Promoting the abilities of R&D and innovation for enterprises has become an important way to fight the competition crisis. The amount of high-tech enterprises in China spending in R&D investments increases year by year, however, there is still some pace with those in America. In this study, the comparisons are first conducted in R&D output, global ranking of R&D investment, R&D management of enterprises between China and America. Then, the representative high-tech en-terprises in R&D and innovation are chosen for in-depth analysis. The main conclusions of this paper are as follows. Firstly, remarkable negative relationship between the American high-tech enterprises R&D intensity and the return on assets is obtained, and there is a lag effect. Secondly, the R&D intensity has positive effect on the enterprise’ business income growth rate for high-tech enterprises both in China and America, and more obviously in America. Thirdly, the asset-liability ratio and firm size of Chinese high-tech enterprises have significant effects on enterprise’s R&D activities, but this effect is not significant for those in America. Fourthly, the industry distribution of American high-tech enterprise is more concentrated than that in China, and the differences be-tween R&D input scale in different industry are larger in America. Lastly, the Chinese government subsidies can promote the R&D activities of high-tech enterprises.