Earticle

초록

영어

The purposes of this paper are to build theoretical and empirically testable model to identify the determinants of research and development expenditure, and to analyze this model empirically using the Korea Stock Exchange panel data, and to test the impact of IMF crisis on the model relationship. The dependent variables identified in this paper include the equity ratio of large shareholders, institutional investors and individual investors, and the control variables are excess-earning power, internal financing ability, firm size, financial risk, business risk, growth opportunity, and tax support. Empirical panel estimation test reveals that this model can explain about 6.7% of the variance in research and development expenditure to sales ratio. The reasons that this model has low explanatory power are that some variables were measured with errors, and that there were some omitted variables in tested model. The regression results on the model variables are generally in line with predictions. And it appears that the exogenous variable which explains IMF crisis has minor effect on the determinants of research and development expenditure.

목차

I. 서론
 II. 연구개발비의 재무결정요인
 III. 실증 분석
 IV. 실증분석결과
 V. 요약과 결론
 참고문헌
 Abstract

키워드

저자

• 이해영 [ Hae-Young Lee | 강남대학교 경영학부 교수 ] 주저자
• 이재춘 [ Jae-Choon Lee | 극동정보대학 관광학과 부교수 ]

참고문헌

발행기관

간행물

표지보기 관심저널 등록

• 간행물명

  생산성연구: 국제융합학술지 [Productivity Research: An International Interdisciplinary Journal]

• 간기

  격월간

• pISSN

  1225-3553

• 수록기간

  1987~2025

• 등재여부

  KCI 등재

• 십진분류

  KDC 325 DDC 330