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为了研究R&D与企业财务绩效的关系以及融资约束对两者关系的调节作用,本文从我国信息技术业241家上市公司当中,经过严格筛选,选取2011年~2015年共计210个样本作为本文的研究样本,进行了实证研究。研究表明,R&D投入能够促进企业财务绩效的提高,并且融资约束对两者的关系起正向调节的作用。
In order to study the relationship between R & D and corporate financial performance and the regulatory role of financing constraints in the relationship between the two, this paper selected 241 listed companies in information technology industry from 2001 to 2015 through rigorous screening. Sample, conducted an empirical study. The research shows that R & D investment can promote the improvement of corporate financial performance, and the financing constraints play a positive role in regulating the relationship between the two.