【作者】 王珍；

【导师】 刘斌；

【作者基本信息】 重庆大学 ， 会计学， 2004， 硕士

【摘要】 竞争是市场经济的特征之一。随着世界经济一体化进程的加快和市场竞争的日趋激烈,我国的企业界逐步认识到研究与开发(R&D)活动正是形成和提高企业核心竞争力的基础和关键。鉴于R&D活动的重要性,国内学术界对其的研究一直没有中断过,尤其对于R&D费用是该资本化还是费用化的问题一直存在较大分歧。我国财政部于2001年1月18日颁布了《企业会计准则——无形资产》,要求企业将自行开发并按法律程序申请取得无形资产按依法取得时发生的注册费、聘请律师费等费用作为无形资产的实际成本,而将研究与开发过程中发生的材料费、工资等R&D费用确认为当期费用。我们认为,企业支付的R&D费用只有在得到投资者认同的前提下才有资本化的意义,否则应将其费用化。本文的研究目的就是通过构建两个回归模型:1、我国上市公司R&D费用与股票价格关系的回归模型;2、研究开发费影响因素的回归模型,找出影响企业研究与开发活动的主要因素,分析判断国内投资者对研究开发费的认同度,并最终为R&D费用到底是费用化或是资本化的争论提供直接支持。通过实证分析发现:R&D费用不是股票价格的主要影响因素,投资者对该项费用支出的价值并不认同。这在一定程度上说明财政部颁布的《企业会计准则——无形资产》要求将R&D费用支出费用化的规定至少在现阶段是符合现实情况的。同时,我们还发现公司的领导权结构和资产收益率对研究开发活动具有显著正的影响;公司规模和无形资产率对研究开发活动有负的影响。最后,文章从加快会计准则与会计制度建设、完善信息披露制度、提高投资者自身投资水平、积极促进企业加大对R&D的投入力度等各个方面提出了几点建议。更多还原

【Abstract】 Competition is one of the characters of the market economy. With the quickening of world economy and the fury of market competition, the enterprises of our country have realized that the researching and development activity (R&D) is just the basic and the key to form and advance their core competition ability. Because of its importance, the academia is still disputing that the R&D expenditures should be capitalized or be expensing. On 18th,Jan.,2001, our treasure department enacted the accounting standards of intangibles, and asked all the firms to expense their R&D expenditures. We think that only the investors identify the R&D expenditures, the cost has the meaning of being capitalized, otherwise it should be expensing. To do that, we build up two regressing models, one is the relationship between R&D expenditures and the stock price, another one is the influencing factors to R&D expenditures.By empirical study, we found that there is no significant relationship between R&D expenditures and the stock price. It implies that the investors do not identify with the R&D expenditures of firms. It has also proved that the rules of expensing R&D expenditures are consistent with the realism of our country. And, the leadership structure and the return of assets had obviously positive effect to the researching and development activity, while the size of firm and the rate of intangible assets affected R&D activity negatively.At last, this paper gives some material advice, such as complete the accounting system, together with the accounting standards, improve the investors level, push the investment on the R&D activity of firms.更多还原