Research on the Effects of R&D Expenditures on Carbon Emission Intensity and Enterprise Value

In this paper, we compared the effects of R&D expenditures on carbon emission intensity and enterprise value. We chose China's listed companies which continuously disclosed expenditures as samples, and processed initial data from 2007 to 2010 by correlation analysis and multivariate statistical regression analysis. The empirical research results show that increasing investment in R&D expenditures has a consistent positive effect on both sides: more investment in R&D expenditures can lower the level of carbon emission intensity and improve enterprise value at the same time. Therefore, in order to promote the development of low carbon economy, the government should carry out relevant policies and create a favorable external environment to encourage and arouse the enthusiasm and initiative of enterprises to carry on low carbon technology innovation.