Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/305909 
Autor:innen: 
Erscheinungsjahr: 
2023
Quellenangabe: 
[Journal:] Global Business & Finance Review (GBFR) [ISSN:] 2384-1648 [Volume:] 28 [Issue:] 4 [Year:] 2023 [Pages:] 77-89
Verlag: 
People & Global Business Association (P&GBA), Seoul
Zusammenfassung: 
Purpose: The purpose of this study is to investigate the impact of sticky behavior in R&D costs on firm value. The study aims to gain insights into whether the stickiness of R&D costs is a rational choice based on managerial foresight or if it stems from managerial self-interest. Design/methodology/approach: For the regression analysis, a modified version of Ohlson's accounting-based valuation model (1995) was used to assess the impact of R&D costs on firm value. and the stickiness of R&D costs was measured using the model proposed by Homburg & Nasev (2009). International Financial Reporting Standards were adopted in Korea in 2011, and empirical analysis was subsequently conducted using data from listed companies. Findings: The empirical results were as follows. Firstly, R&D costs reported as expenses showed a negative (-) correlation with firm value, while the stickiness of R&D costs was found to have a positive (+) impact on the value relevance of earnings. Secondly, R&D costs reported as assets did not have a significant impact on firm value, and the stickiness of R&D costs did not have a significant impact on the value relevance of net assets. Research limitations/implications: Overall, the findings of this study support the accounting treatment of R&D costs as expenses. Moreover, the study reveals that the sticky behavior of R&D costs helps alleviate the negative value relevance of R&D expenses. Originality/value: This study distinguished between capitalized R&D costs and expensed R&D costs, and examined their value relevance by investigating the impact of sticky behavior on earnings and net assets.
Schlagwörter: 
Expensed R&D costs
Capitalized R&D costs
Sticky Cost Behavior
Value Relevance
Persistent Identifier der Erstveröffentlichung: 
Creative-Commons-Lizenz: 
cc-by-nc Logo
Dokumentart: 
Article

Datei(en):
Datei
Größe
343.66 kB





Publikationen in EconStor sind urheberrechtlich geschützt.