Download pdf
The Impact of Research Development and Innovation on Enterprise Development: Case Study of BYD and Pfizer
- 1 University of Essex
* Author to whom correspondence should be addressed.
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
[1]. BYD. (2022). ANNUAL REPORT [Online]. Available: https://www.bydglobal.com/sitesresources/common/tools/generic/web/viewer.html?file=%2Fsites%2FSatellite%2FBYD%20PDF%20Viewer%3Fblobcol%3Durldata%26blobheader%3Dapplication%252Fpdf%26blobkey%3Did%26blobtable%3DMungoBlobs%26blobwhere%3D1600575229768%26ssbinary%3Dtrue [Accessed 10.1 2022].
[2]. BYD. (2021). ANNUAL REPORT [Online]. Available: https://www.bydglobal.com/sitesresources/common/tools/generic/web/viewer.html?file=%2Fsites%2FSatellite%2FBYD%20PDF%20Viewer%3Fblobcol%3Durldata%26blobheader%3Dapplication%252Fpdf%26blobkey%3Did%26blobtable%3DMungoBlobs%26blobwhere%3D1600575206087%26ssbinary%3Dtrue [Accessed 10.4 2022].
[3]. Lin, Z.: Perspective A - share half annual report: R & D real investment innovation acceleration [Online]. (2022). Available: https://kns.cnki.net/kcms/detail/detail.aspx?dbcode=CCND&dbname=CCNDLAST2022&filename=SHZJ202208310050&uniplatform=NZKPT&v=utc-8PMZc0naj4J7c9Z-sizzQjg-TvWIxAECLoMGO7PMqHOCDTaVS4rW0iPdpZ3rGMfRXE8XHZE%3d [Accessed 10.06 2022].
[4]. BYD. (2020). CSR report [Online]. Available: https://www.bydglobal.com/sitesresources/common/tools/generic/web/viewer.html?file=%2Fsites%2FSatellite%2FBYD%20PDF%20Viewer%3Fblobcol%3Durldata%26blobheader%3Dapplication%252Fpdf%26blobkey%3Did%26blobtable%3DMungoBlobs%26blobwhere%3D1600575179495%26ssbinary%3Dtrue [Accessed 10.2 2022].
[5]. Fornell, C., Mithas, S., Morgeson, F.V., Krishnan, M. S.: Customer Satisfaction and Stock Prices: High Returns, Low Risk [Online]. (2006). Available: https://www.bydglobal.com/sitesresources/common/tools/generic/web/viewer.html?file=%2Fsites%2FSatellite%2FBYD%20PDF%20Viewer%3Fblobcol%3Durldata%26blobheader%3Dapplication%252Fpdf%26blobkey%3Did%26blobtable%3DMungoBlobs%26blobwhere%3D1600575179495%26ssbinary%3Dtrue [Accessed 10.09 2022].
[6]. PFIZER. (2021a). Fueling Tomorrow’s Breakthrough Therapies Through the Power of Data at Scale [Online]. Available: https://www.pfizer.com/sites/default/files/investors/financial_reports/annual_reports/2021/story/breakthrough-therapies-through-data/ [Accessed 10.03 2022].
[7]. PFIZER. (2021b). Performance data [Online]. Available: https://www.pfizer.com/sites/default/files/investors/financial_reports/annual_reports/2021/files/Pfizer_Performance_Annual_Review.pdf [Accessed 10.02 2022].
[8]. Wang, Y.F. PEG valuation method is recommended for high P/E stocks [Online]. (2021). Available: https://kns.cnki.net/kcms/detail/detail.aspx?dbcode=CCND&dbname=CCNDLAST2021&filename=XJRB202111190052&uniplatform=NZKPT&v=EYpqibmuFanqceDdShEhILPzt2BpoIU2X7WfniAqiakKA4tw1jSQ1pcfcEx24mVtHkAxFMPJmKM%3d [Accessed 10.12 2022].
[9]. Gatlin, A.: Something Unusual Is Happening Right Now With Biotech Stocks [Online]. (2022). Available: https://www.investors.com/news/technology/biotech-stocks-notch-blazing-path-2022/ [Accessed 10.07 2022].
Cite this article
Wang,Y. (2023). The Impact of Research Development and Innovation on Enterprise Development: Case Study of BYD and Pfizer. Advances in Economics, Management and Political Sciences,17,65-70.
Data availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
Disclaimer/Publisher's Note
The statements, opinions and data contained in all publications are solely those of the individual author(s) and contributor(s) and not of EWA Publishing and/or the editor(s). EWA Publishing and/or the editor(s) disclaim responsibility for any injury to people or property resulting from any ideas, methods, instructions or products referred to in the content.
About volume
Volume title: Proceedings of the 2nd International Conference on Business and Policy Studies
© 2024 by the author(s). Licensee EWA Publishing, Oxford, UK. This article is an open access article distributed under the terms and
conditions of the Creative Commons Attribution (CC BY) license. Authors who
publish this series agree to the following terms:
1. Authors retain copyright and grant the series right of first publication with the work simultaneously licensed under a Creative Commons
Attribution License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this
series.
2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the series's published
version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial
publication in this series.
3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and
during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See
Open access policy for details).