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has been cited by the following article:

• TITLE: The Threshold Effect of R & D Intensity on Enterprise Performance—Evidence from the GEM Listed Company

  AUTHORS: Yuequn Wei, Guiping Bao

  KEYWORDS: R & D Investment Intensity, Sustainability, Firm Performance, Threshold Effect

  JOURNAL NAME: Open Access Library Journal, Vol.5 No.5, May 24, 2018

  ABSTRACT: This paper mainly adopts the panel data of listed company in GEM from 2012 to 2016, with the threshold panel model, Deeply studying the influence of R & D investment intensity on enterprise performance, and discovering that R&D intensity has a double threshold effect on enterprise performance. When the sustainable ability of research and development activities is lower than the first threshold value, R & D intensity has a significant negative impact on firm performance; when the sustainable capacity is between the first threshold value and the second threshold value, the intensity of R & D investment and enterprise financial performance was negatively correlated, and positively correlated with production performance; when the sustainable capacity of R & D activity exceeded second threshold value, R & D intensity has a significant positive impact on enterprise performance. Therefore, to improve the sustainability of R & D activities is an important way for enterprises to improve their performance.