벤처기업과 일반기업간 무형자산의 규모 차이 및 무형자산 규모의 결정요인에 관한 연구

Today intangible assets are noted as a factor which reinforces sustainable competitiveness of a company. Especially, ventures are known to retain much more of intangible assets than other companies. This study is conducted to verify the difference in intangible asset scale through paired-test between KOSDAQ-registered venture companies group and selected matching companies group according to types of business, size, and profit. In the train of the study, the venture group exhibits larger scale of intangible assets than matching companies in which the scale difference reveals statistical significance. In addition, the result of comparative analysis for determinants for intangible assets indicates that the scale of intangible asset of both venture and matching companies increases in concurrence with the increased investment in research and development. Also, venture companies demonstrate increased intangible assets when retaining accumulated technology and as well as high growth rate. Furthermore in the analysis for determinants of intangible assets scale, it is found that difference in technology and in profit exhibit significant influence in (+) and (-) direction, respectively. The research analysis implies that venture companies are more technology-intensive than other companies, which explains for relatively high estimation for corporate value when including intangible assets.