중소기업의 연구개발성과와 지식재산 및 기업가치 간의 비교에 관한 연구: 코스닥 시장을 중심으로

This study compared of the R&D performance of SMEs with the intellectual property andvalue. For this, the performance score for R&D activity of SMEs was derived through factoranalysis with financial variables related to growth and profitability. For grouping (i.e., high,middle and low group) based on the scores of SMEs, the conceptual cluster analysis whichclassifies the scores into several clusters considering the goodness was applied. This studycompared and analyzed the differences among patent application, audit claims, patentregistration and stock return as a R&D performance. In empirical study, the patent, financialand stock price data of 50 stocks which are chip companies based on market capitalizationamong 997 stocks on KOSDAQ market were collected and analyzed. The results show thedifferences among the number of patent and stock return rate by group. Also, SMEs includeon high group have many patents and are high in term of stock return compared to lowgroup. Our results are expected to analyze the relevance between the intellectual propertyholding and the increasing effect enterprise value for SMEs.