R&D资本化与费用化政策选择的影响因素研究

以2007-2010年年报披露研发投入数据的沪深A股上市公司1071个观测值为样本,从R&D投入会计处理方法选择的角度分析企业进行R&D资本化与费用化政策选择的影响因素。研究结果表明:新会计准则对R&D投入会计报告的变革有一定的积极意义,R&D资本化与费用化的选择受到了企业特征的影响。研发强度大、盈利水平低、规模较小、负债水平高、股权分散、研发投入不稳定且处于扭亏临界和高技术行业的公司倾向于选择将R&D资本化,而那些规模较大,盈利水平高、负债率低、股权相对集中、研发投入稳定的企业则倾向于将R&D费用化。另外,R&D资本化与费用化的选择与其系统风险、成长性和收益平滑动机没有显著关系。

The influencing factors of policy choice on R&D capitalization and expensing

Using a sample of 1071 observations from China listed companies that disclosed information on R&D over the period of 2007-2010,from the perspective of the accounting treatment of R&D expenditures,this paper studied the influencing factors of policy choice on R&D capitalization and expensing.The empirical findings show that accounting choice for R&D expenditures is affected by the characteristics of the companies.Capitalization is preferred by those companies which are greater R&D intensity,less profitable,smaller size,more highly leverage,lower ownership concentration,non-steady-state of R&D investment,high-tech industry and in the condition of losses.While the firms choosing to expense R&D are larger,higher profitable,lower leveraged,more concentrate ownership and in steady-state for R&D.Moreover,weaker evidence shows any relation between systematic risk,growth,smoothing profits and accounting choice for R&D.