Earticle

초록

영어

Investment in research and development (R&D) is critical in the information technology (IT) firms, where newer and better technology is a quintessential goal that directly affects innovation and competitive advantage. This study investigates how R&D investment influences firm performance and value, and how the effect of R&D investment differs between IT hardware and software firms. We also analyze the relationship between firm age and R&D investment in order to identify learning effects on continuous R&D investment. The empirical investigation in this study, based on longitudinal archival data from 2001 to 2010, found a significant effect of R&D investment on firm performance in IT firms. Further, this study demonstrates causal relationship between firm age, and verifies that learning effects are present in R&D investment. Moreover, the results are found to differ between IT hardware and IT software firms.

목차

Abstract
 Ⅰ. Introduction
 Ⅱ. Literature Reviews and Hypothses Development
 Ⅲ. Research Design
  3.1 Research Models
  3.2 Data
 Ⅳ. Empirical Results
  4.1 Summary Statistics
  4.2 Analysis
  4.3 Additional test
 Ⅴ. Discussion and Conclusions
 

저자

• Myunggun Lee [ Assistant Professor, Yeungnam University, Korea ] First Author
• Jongpil Park [ Researcher, Yonsei Business Research Institute, Korea ] Corresponding Author
• Woojin Park [ Assistant Professor, College of Government and Business, Yonsei University, Korea ]

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