Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Proceedings of the 2nd International Conference on Business and Policy Studies
Series Vol. 17 , 13 September 2023
Open
Access | Article
The Impact of Research Development and Innovation on Enterprise Development: Case Study of BYD and Pfizer
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Abstract
After centuries of development, it has been proven that research and development (R&D) and innovation are the driving forces for a country to sustain its economic development and they are also essential to the development of companies. Scientific and technological innovation is strategic support to improve productivity and comprehensive national power, so companies' investment in innovation is increasing year by year. The main output of enterprises is concentrated in the fields of utility models, designs, and applied technology research and development. At the same time, national government policy has placed emphasis on the development of enterprise content and technological innovation, implementing a dual incentive system for enterprise R&D and innovation. This move has helped to energise companies in terms of entrepreneurship and innovation, while also reducing the cost of innovation and driving many new companies to invest in R&D. In this paper, the author discusses whether R&D innovation helps companies to grow by investigating the company’s size, governance structure, financial report, and A-share market returns. It is found that R&D innovation is a good driver of business development and can bring advantages to companies.
Keywords
R&D, innovation, balance sheet, investors, stock market
References
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Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the 2nd International Conference on Business and Policy Studies
- ISBN (Print)
- 978-1-915371-77-5
- ISBN (Online)
- 978-1-915371-78-2
- Published Date
- 13 September 2023
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/17/20231059
- Copyright
- 13 September 2023
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited