| Summary: | 碩士 === 實踐大學 === 財務金融學系碩士班 === 105 === R&D investment is crucial for firms to stay competitive, especially in high-tech companies. The R&D spending results in new products or process efficiencies. The Relationships between R&D Investments and Financial Performance in Listing Companies of the East Asian Five Markets. This study selected 2013 to 2015 publicly traded companies in China Shanghai, Shenzhen, Hong Kong and Taiwan Stock Exchange listed companies as samples, the use of Panel Data were discussed. This study selected 2013 to 2014 publicly traded companies in South Korea and Tokyo Stock Exchange listed companies as samples, the use of Panel Data were discussed.
To further investigate the financial influence of R&D investment, we adopt the test of U-shape relationship to find the optimal R&D intensity of the East Asian Five Markets. However, firm size and leverage are negatively correlated with the value of extreme points. In the case of the whole industry, the turning points of the research and development R&D Intensity of the five major market enterprises in East Asia are about 43-54%. if the research and development investment, if the research and development is less than 43-54% , Then more R&D Intensity, and the more financial performance in Tobin's Q.
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