기술 도입이 기업가치에 미치는 영향

The Effect of Technology Outsourcing on Firm's Value

This study investigates the effect of technology outsourcing on the value of the firm in Korea. The result shows that the technology outsourcing in the high growth industries gives positive effects on the value of the firm. The results supports the investment opportunity hypothesis. With respect to the free cash flow hypothesis, this study finds no supporting evidences. The paper concludes that growth is the dominant factor for determining the effect of technology outsourcing on the value of the firm.