软件与信息技术服务业上市公司生命周期研发投入及影响因素研究

以114家我国软件与信息技术服务业上市公司2010-2015年的数据为样本,利用产业经济学增长率分类法对样本公司所处生命周期进行划分,实证研究了软件与信息技术服务业上市公司在生命周期不同阶段研发投入强度差异性以及影响因素.研究结果表明,样本公司的研发投入强度在生命周期的成长-成熟-衰退阶段呈现“倒U型”的状态.企业生命周期不同阶段企业规模、资本结构、盈利能力对研发投入强度有不同程度的影响.

Research on R&D Investment and Its Influencing Factors of Listed Companies in Software and IT Services Industry Based on Corporate Life Cycle

This article takes the data of 114 listed companies in software and IT services industry in China from 2010 to 2015 as sample,and uses the classification of industry by growth rate in industry economics for reference to define the life cycle stage of listed companies.And then studies the differences of R&D intensity with the listed companies in different stages of the life cycle and the factors which cause the differences.The results show that:with the development of the life cycle,the R&D intensity of listed companies in software and IT services industry presents "an inverse U shape".The enterprise scale,capital structure and profitability have different effects on R&D investment intensity at different stages of corporate life cycle.