기업의 전략에 따른 연구개발비가 기업 성과에 미치는 영향 = An Empirical Study on the relationship between Firm Performance and R&D on the strategic orientation

다국어 초록 (Multilingual Abstract)

This study investigated the relation between R&D investments of subsequent years and firm value. And to test whether the firm value have a difference R&D expenditures and R&D capitalization along the strategy type. Summarizing the results of analysis of following: First, firm of cost leadership didn`t show significant positive effects of this year R&D and firm performance, but showed significant negative effects of past year(from three year to six year) R&D and firm performance. Firm of differentiation showed significant negative effects of this year R&D and firm performance, but showed significant positive effects of past six year R&D and firm performance. Second, firm of cost leadership and firm of differentiation had a significant difference in the R&D expenditures and R&D capitalization all years. And R&D expenditures is big than R&D capitalization. Third, firm of cost leadership wanted R&D expenditures than R&D capitalization and a result of regression had significant negative effects of R&D capitalization and firm performance, and firm of differentiationdid showed a significant difference in the R&D expenditures and R&D capitalization, a result of regression didn`t have significant effects of R&D capitalization and firm performance. This study would aid not only in understanding prevalent accounting practices for R&D investment and strategy of firms, but also in understanding relationship between Firm performance and R&D of expenditures(and capitalization).