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연구개발비가 기업성과에 미치는 영향에 관한 연구 ; 코스닥 상장기업을 중심으로

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Author(s)
정오성
Issued Date
2009
Abstract
We can not emphasize the importance of R&D expenditures too much because creating advanced technology is essential for the survival and growth of a firm.
No one will dispute the fact that a company spends R&D expenditures as it expects greater future economic profits than the invested amount.
However, there is controversy over the accounting process of R&D expenditures, as we are uncertain of the future economic profits resulting from R&D expenditures, and in many cases it is hard to find a direct relationship between R&D expenditures and future profits. It is also difficult to estimate the durable period of future profits.
This paper empirically explores the determinants of corporate R&D expenditures in Korea. Specifically, I investigate in cross-section if a firm's sales ratio and price earning ratio(PER) affect its R&D expenditures.
The major findings of this study can summarized as follows.
First, I document a positive relation between three-year lagged sales ratio and R&D expenditures, and a significant positive relation between three-year lagged PER and R&D expenditures. This evidence is consistent with the implication that firms are encouraged to increase R&D expenditures when they believe return exceeds the cost of investment.
Second, the theory also predicts that firms with high debt ratios tends to decrease their R&D expenditures, because R&D expenditures can evaporate in financial distress.
Third, firm's size has significant relation between sales ratio and the level of R&D expenditures.
Fourth, this study informed that venture businesses are far more influenced by R&D expenditures than general firms.
Finally, it was found that strategic importance of the R&D activity had significant influence on the intention of using the relatives of the R&D expenditures and business performance of corporations.
As analyzed the outcomes, the R&D expenditures had significant influence on as much as the top management support and effort of organization management in the manufacturing. And We found that the R&D expenditures had significant influence a research worker training support and strategic importance of the R&D activity and that it affected the performance of corporations in the long run.
Alternative Title
A Study on Effects of R&D Expenses on Business Performance
Alternative Author(s)
Jung, Oh - Sung
Affiliation
조선대학교 경영대학원
Department
경영대학원 경영학석사학위과정
Advisor
이계원
Awarded Date
2009. 8
Table Of Contents
Ⅰ. 서 론- 1
1. 연구의 배경 및 목적 - 1
2. 연구의 방법 및 구성 - 2
Ⅱ. 이론적 배경 및 선행연구의 검토 - 4
1. 연구개발의 의의 및 연구개발투자 현황- 4
1) 연구개발의 정의 - 4
2) 우리나라의 연구개발투자 현황 - 5
3) 우리나라 기업의 연구개발투자 현황 - 7
2. 연구개발비의 회계처리에 대한 규정 - 11
1) 연구개발비에 대한 회계기준의 변화 - 11
2) 연구개발비에 관한 현행 기업회계기준서 - 12
3. 기업성과 평가 - 14
1) 기업성과 평가 - 14
2) 기업성과 및 가치 평가 모형 - 15
4. 선행연구의 검토- 19
1) 국외 선행연구 - 19
2) 국내 선행연구 - 22
3) 선행연구와 본 연구의 차이점 - 26
Ⅲ. 연구가설 및 모형 - 27
1. 연구모형 및 가설의 설정 - 27
1) 연구모형 - 27
2) 연구가설의 설정 - 28
3) 변수의 정의 - 30
4) 표본선정 및 자료의 수집 - 33
2. 분석방법 및 모형 - 34
1) 연구개발투자와 매출액간의 관계 - 34
2) 연구개발투자와 주가수익율과의 관계 - 34
Ⅳ. 실증분석결과 - 36
1. 기술적 분석 - 36
1) 기초 통계분석 결과 - 36
2) Pearson 상관계수 - 38
3) 벤처기업과 일반기업간 차이분석 - 39
2. 실증분석 결과 - 41
Ⅴ. 결론 및 한계점 - 45
1. 결론 - 45
2. 한계점 및 향후 연구의 방향 - 46

【참고문헌】- 47
Degree
Master
Publisher
조선대학교 대학원
Citation
정오성. (2009). 연구개발비가 기업성과에 미치는 영향에 관한 연구 ; 코스닥 상장기업을 중심으로
Type
Dissertation
URI
https://oak.chosun.ac.kr/handle/2020.oak/1533
http://chosun.dcollection.net/common/orgView/200000238419
Appears in Collections:
Business > Theses(Master)(경영대학원)
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