중소벤처기업의 성장률과 연구개발비가 기업가치에 미치는 영향

This study verified the effect of growth rate and R&D costs on firm value for small and medium-sized venture companies. In previous studies, the financial growth rate is known to affect corporate value, and in this study, it is to examine whether financial growth affects R&D costs of small and medium-sized venture companies. The research model used the cumulative excess return for one year to measure the corporate value, which is a dependent variable. In addition, as independent variables, previous studies were used to sales growth rate, total asset growth rate, and operating profit growth rate, and R&D expenses were the sum of R&D expenses, which are asset items, and R&D expenses, which are cost items. As a result of the study, it was found that the growth rate variable affecting the corporate value of small and medium-sized venture companies had an effect on the sales growth rate and the total asset growth rate. However, in the case of R&D expenses, there was no direct effect on corporate value, and there was no significant effect on the combined effect of growth rate and R&D expenses. Through this study, the financial growth rate variables of small and medium-sized venture companies generally affect corporate value, but they did not directly affect R&D expenses. These studies can be said to require additional studies such as research and development costs and corporate value studies in the past year on research and development costs and corporate value studies, and tangible asset investment and corporate value studies in the future.