Unlocking wind power potential: The pivotal role of R&D investment in boosting wind power enterprise performance

Abstract

Boosting the core competitiveness and operational efficiency of enterprises while minimizing costs through strategic R&D investments is crucial for the advancement of wind power companies. This paper examines data from listed wind power enterprises from 2015 to 2023 and develops a detailed multiple linear regression model for comprehensive analysis. Goldwind Science & Technology Co., Ltd. is used as a case study. The paper explores the impact of R&D investment on wind power enterprise performance through empirical and case analyses, revealing several key insights. First, both R&D intensity and per capita R&D investment positively affect wind power enterprise performance, with R&D intensity having a more substantial impact. Second, the case study of Goldwind demonstrates a clear positive correlation between R&D intensity, per capita R&D investment, and corporate performance. Third, the impact mechanism analysis shows that increased R&D investment enhances Goldwind's technological advancements, leading to new products that meet market demand and improve enterprise performance. Based on these findings, the paper proposes policy recommendations, including increasing R&D investment and recruiting more scientific researchers.