Journal of Korea Society of Industrial Information Systems (한국산업정보학회논문지)

Korea Society of Industrial Information Systems (한국산업정보학회)
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Analysis of the Manufacturing Firms' R&D Strategy According to Global Political and Economic Uncertainty

글로벌 정치 경제적 불확실성에 따른 제조 기업의 R&D 전략 분석

  • 오건택 (한국과학기술원 기술경영학부) ;
  • 정의범 (한신대학교 경영학과)
  • Received : 2024.04.11
  • Accepted : 2024.04.19
  • Published : 2024.04.30
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Abstract

This study analyzes the effects of manufacturing firms' R&D investment on sales according to global political economic uncertainty. The variables in this research include the firm's R&D investment, sales, which serves as an indicator of the firm's performance, and the Global Economic Policy Uncertainty (GEPU) index, which reflects situations of global political economic uncertainty. Panel data analysis is conducted by using a total of 96 quarters of data spanning 24 years from 2000 to 2023 based on manufacturing firms in the Wharton Research Data Services' Compustat Database. We study the impact of firm's R&D investment on sales by considering the Global Economic Policy Uncertainty index, which was relatively underestimated in previous research, as moderating variable, and present a new direction for research by analyzing the time lag effect. We suggest effective R&D investment strategy for firms.

본 연구는 글로벌 정치 경제적 불확실성 따라 제조 기업의 R&D 투자가 매출액에 미치는 영향을 분석하였다. 본 연구의 변수로는 기업의 R&D 투자, 기업의 성과 지표인 매출액, 글로벌 정치 경제적 불확실성을 반영한 Global Economic Policy Uncertainty (GEPU) 수치가 사용되었다. 패널데이터 분석에 있어서 Wharton Research Data Services의 Compustat Database에 있는 제조 기업을 바탕으로 2000년부터 2023년까지 24년간 총 96분기 데이터를 사용하였다. 선행 연구에서 상대적으로 부족했던 Global Economic Policy Uncertainty 수치를 조절변수로 사용하여 기업의 R&D 투자가 매출액에 미치는 영향에 연구하였으며, 시간 지연 효과(Time lag effect)에 대해 분석함으로써 새로운 연구의 방향을 제시하였고, 기업의 효과적인 R&D 투자 전략을 실행해야 함을 시사하였다.

Keywords

Acknowledgement

이 논문(작품)은 한신대학교 학술연구비 지원에 의하여 연구(창작)되었음.

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