Abstract
The internal optimal allocation of R&D funds is directly related to the innovation ability of information industry enterprise. Enterprises have different capital source channels at different stages of the life cycle, and the capital investment at different stages should have different focuses. This paper takes a case study of Electronic and communication equipment manufacturing enterprises and considers that the allocation of R&D funds of information industry enterprise depends on the influence of such factors as technology stock, organizational form and enterprise strategy.
Highlights
The investment of R&D in information industry which represented by electronic and communication equipment manufacturing is higher than that in ordinary manufacturing enterprise
The analysis paradigm analyzes the driving forces of R&D funds allocation from two aspects: the source of R&D funds based on the enterprise life cycle and the investment of R&D funds based on the product R&D process
The R&D funds of electronic and communication equipment manufacturing enterprises in the growth stage mainly come from the further investment of venture funds and reasonable loans from banks and other financial institutions
Summary
The investment of R&D in information industry which represented by electronic and communication equipment manufacturing is higher than that in ordinary manufacturing enterprise. The R&D funds of electronic and communication equipment manufacturing enterprises in the growth stage mainly come from the further investment of venture funds and reasonable loans from banks and other financial institutions. Some excellent enterprises can choose to list on the Growth Enterprise Market to achieve public fund raising In this stage, the benign development of enterprises generally have medium enterprise scale, in 2012, after China implement the strategy of R&D to drive the development of electronic and communication equipment manufacturing enterprises R&D data from 2013 to 2019 as an example(lack of statistics for 2016 due to industry catalog adjustment), the internal investment proportion is very high, and grow faster than the government funding(Fig. 1). The product R&D process is integrated into three stages: research stage, large-scale production stage and product marketization stage
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