%0 Journal Article
%T Threshold Effects of R&D Intensity on Enterprise Performance from the Perspective of Scientific Research Achievements Transformation Ability
%A Yuequn Wei
%A Guiping Bao
%J Open Access Library Journal
%V 5
%N 7
%P 1-12
%@ 2333-9721
%D 2018
%I Open Access Library
%R 10.4236/oalib.1104667
%X
Based
on the listed company data of high-tech enterprise of manufacturing industry from year 2012 to 2016, this paper analyzed the no-linear effect of R&D
intensity on firm performance with different ability of R&D achievements
transformation. The empirical
results show that the R&D input intensity has a double threshold effect on
the capability of R&D achievement conversion. When the conversion ability
of R&D achievement is lower than the first threshold value of 2.19%, the R&D
input intensity significantly positively affects the enterprise performance;
after more than 2.19%, the role of R&D input will decrease significantly
and become less significant. When more than second threshold of 6.75%, R&D
input intensity will significantly negatively affect enterprise performance; the relationship between R&D input intensity and
firm performance has significant industry differences. Therefore, paying close attention to the nature of
the industry and improving the transformation capability of scientific research
achievements is an important measure for high-tech
enterprises to improve their R&D effect, seize the market and improve their
performance.
%K R&D Investment Intensity
%K Firm Performance
%K Threshold Effect
%K Industry Differences
%K Transformation Ability of Scientific Research Achievement
%U http://www.oalib.com/paper/5296770