环境不确定性对企业研发投入的影响——基于内部控制的调节作用

以2013—2020年深沪两市的A股非金融业上市公司为研究样本，实证分析环境不确定性、内部控制对企业研发投入的影响。研究发现，环境不确定性对企业研发投入产生显著正向影响，内部控制作为调节变量仅能强化环境不确定性与企业研发人员投入之间的正向关系。在低环境不确定性情况下，内部控制发挥的调节作用更为显著；内部控制五要素中信息与沟通要素起关键性作用。最后基于实证研究结论对企业和政府提出相应建议。

The Impact of Environmental Uncertainty on Enterprise R&D Investment: Based on the regulating effect of internal control

The A-share non-financial listed companies in Shenzhen and Shanghai stock markets from 2013 to 2020 are taken as research samples.The impact of environmental uncertainty and internal control on R&D investment is empirically studied. It is found that environmental uncertainty has a significant positive impact on enterprise R&D investment, and internal control as a regulating variable can only strengthen the positive relationship between environmental uncertainty and R&D personnel investment. In the case of low environmental uncertainty, the regulating role of internal control is more significant, and information and communication elements play a key role in the five elements of internal control. Finally, the corresponding suggestions to the enterprise and the government are put forward based on the empirical research conclusion.