Journal of Advanced Navigation Technology (한국항행학회논문지)

The Korean Navigation Institute (한국항행학회)
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A study on the influences of R&D investment on Machine and Material Industry and Eletronics Industry

기계소재 산업의 연구개발 투자가 기업성과에 미치는 영향 연구

  • Oh, Seung-Ryung (Graduate School of Kyung-Hee University, Dept. of Business Administration) ;
  • Kim, Kun-Woo (Graduate School of Kyung-Hee University, Dept. of Business Administration)
  • 오승룡 (경희대학교 대학원 경영학과) ;
  • 김건우 (경희대학교 대학원 경영학과)
  • Received : 2010.12.14
  • Accepted : 2011.02.28
  • Published : 2011.02.28
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Abstract

In this study, I have tried to analyze an influence of R&D investment on ROV(Real Option Value), corporate value and market value by analyzing R&D investment, ROV, corporate value and market value of machine and material industry in the perspective of ex post. As a result of this study, corporate value, which has been deduced by real option according to R&D investment, reflects market value well and possesses a strong correlation with R&D investment, ROV, corporate value and market value. This implication demonstrates this study result is corresponding with existing theories.

본 연구는 기술혁신에 관한 산업유형별 연구개발투자와 실물옵션가치, 기업가치와 시장가치를 사후적(ex post) 측면에서 실증 분석하여 기계소재 산업의 연구개발투자에 따른 개별 산업의 실물옵션가치, 기업가치 및 시장가치에 미치는 영향을 계량적 성과로서 살펴보고자 하였으며 분석 결과 연구개발투자에 따른 실물옵션법에 의해 도출된 기업가치의 평가가 시장가치를 잘 반영하고 밀접한 상관관계를 보이고 있으며 일반적으로 기업의 성장 동력으로 연구개발투자가 시장가치에 미치는 영향이 크다는 기존 이론과 일치하는 실증분석 결과를 도출하였다.

Keywords

References

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