경쟁환경에 따른 소재부품기업의 판매관리비로 인식된 지식자산에 대한 투자가 기업가치와 재무성과에 미치는 영향

This study, first, provides CEOs of parts companies, investors, creditors and the authorities with useful accounting information by industry, which can be refered to when figuring out the impact that investment on knowledge assets has on enterprise values and financial performance. Second, the fact that this study conducts analysis considering competitive environments of businesses would emphasize the neccesity of considering competitive environments as an important external factor of business management. This study analyzes the impact that investment on knowledge assets of material and parts companies has on enterprise value and financial performance of companies by competitive environment. To summarize the result of this study, investment on knowledge assets of material and parts companies has different impacts on increase of enterprise values, profit creation and sales increase depending on competitive environment of businesses such as product differentiation, entry costs and market size. This study reiterates the result of a previous study, which considered industry level, that competition is an important external factor that affects business environments, and that price policy, innovation policy and performance policy could be different depending on competitive environment of a company. As the previous study argues, considering the importance of the material and parts industry and the current situation where countries are facing fierce competition, competitive environments of companies should be considered an important external factor.