BYD公司研发投入的绩效研究

发布时间：2018-02-14 16:46

本文关键词： 新能源汽车 BYD公司研发投入事件研究法超额异常报酬率财务指标市场占有率　出处：《东华大学》2017年硕士论文　论文类型：学位论文

【摘要】：随着大气污染加剧、油价不断攀升的影响,西方发达国家的汽车企业从零开始进行新能源汽车的研发,而对新能源汽车的研发,给我国自主汽车企业提供了一个“弯道超车”的机会,因为彼此都是处于同一起跑线上。石油能源供应日趋紧张,加上我国环境质量日益恶化,未来新能源汽车取代传统内燃机汽车将成为一种趋势。我国高层也认识到,汽车行业未来的重点应该放在新能源汽车的发展上,并出台相关激励政策,导致我国汽车企业加大了对技术研发的投入,以便提高自己产品的竞争力。本文将理论分析与案例研究相结合,采用事件研究法和财务绩效分析法,研究BYD公司通过加强技术研发投入,掌握了核心技术,大幅提升了公司绩效。在研读大量相关文献的基础上,首先回顾和总结了汽车企业研究开发投入对绩效影响的相关文献及研发投入的理论基础,梳理了我国新能源汽车的补贴政策,分析了研发投入影响公司绩效的机理,分别采用事件研究法、财务指标和市场占有率来验证BYD公司研发投入对公司短期市场绩效、长期财务绩效和行业地位的影响。分析数据表明,在重大研发成功公布日后,BYD公司大多会产生超额异常报酬率;从2012年新能源汽车发布后,公司的盈利能力、偿债能力和营运效率都有比较大的提升;市场销量持续增长,市场占有率逐年提高,这表明了公司具有良好的成长性。本文的研究表明,研发投入对BYD公司的绩效产生了积极的影响。
[Abstract]:As air pollution intensifies and oil prices continue to rise, car companies in western developed countries begin to develop new energy vehicles from scratch, while new energy vehicles are being developed. It provides an opportunity for independent automobile enterprises in our country to "bend over" because they are both on the same starting line. The supply of oil and energy is becoming increasingly tight, and the environmental quality of our country is deteriorating day by day. In the future, it will be a trend for new energy vehicles to replace the traditional internal combustion engine vehicles. Senior officials in China also realize that the future focus of the automobile industry should be on the development of new energy vehicles and the relevant incentive policies. As a result, Chinese automobile enterprises increase their investment in technology research and development in order to improve the competitiveness of their products. This paper combines theoretical analysis with case study, and adopts event research and financial performance analysis. Research on BYD company through strengthening technology research and development investment, master the core technology, greatly improve the performance of the company. On the basis of reading a large number of related literature, First of all, it reviews and summarizes the related literature and the theoretical basis of R & D investment on the performance of automobile enterprises, combs the subsidy policy of new energy vehicles in China, and analyzes the mechanism of R & D investment affecting the performance of the company. The influence of R & D investment on short-term market performance, long-term financial performance and industry status of BYD Company is verified by using event study method, financial index and market share, respectively. After the announcement of major R & D success, most of BYD companies will produce abnormal returns. Since the release of the new energy vehicles in 2012, the company's profitability, solvency and operational efficiency have increased considerably; and the market sales volume has continued to grow. The market share increases year by year, which shows that the company has good growth. The research in this paper shows that R & D investment has a positive impact on the performance of BYD.
【学位授予单位】：东华大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F426.471;F406.7

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