연구개발 투자에 따른 기술무역 의존도와 기업가치 간의 실증분석

다국어 초록 (Multilingual Abstract)

This paper is the empirical study how effecting R&D investments on firm´s value and degree of technology dependence upon foreign trade in the KOREA, JAPAN electric and electronic equipments industry. Found the following interesting results.
First, the empirical results show that an increase in R&D intensity has significant positive relations with KOREA firm´s value. but, no significant positive relations with JAPAN firm´s value. Second, the scale of R&D investments are negatively related to firm´s value. in the result means that investors considered expenses in the short term. Third, met with result that as time goes by, R&D investments influence falls off. Lastly, from the t-test as to whether there is a difference between hign R&D intensity firm´s and firm´s in terms of impacts on firm values. hign R&D intensity firm´s tobin´Q higher than other firm´s tobin´Q.

참고문헌 (Reference)

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