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http://dx.doi.org/10.14400/JDC.2019.17.10.141

Delisting risk of firm with a new technological innovation and research & development intensity  

Lee, Po-Sang (Dept. of Finance & Tax Management, Songwon University)
Publication Information
Journal of Digital Convergence / v.17, no.10, 2019 , pp. 141-147 More about this Journal
Abstract
This paper analyzes the price movements and the possibility of delisting by research and development intensity of firm which made technological innovation disclosure in the Korean stock market. The sample consists of firms listed on the KRX which made technological information disclosure between January 2002 and December 2014. The results are summarized as follows. The higher R&D intensity is observed for the delisted firms group. The logit regression result shows that the research and development intensity is a significant predictor of the possibility of delisting. This shows that exposure to the risk of delisting may increase as the proportion and uncertainty of intangible assets in the assets of individual firms increases. This empirical result is expected to serve as a good guide line for the stakeholders.
Keywords
Technological Innovation; Disclosure; Delisting; Uncertainty; R&D;
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Times Cited By KSCI : 2  (Citation Analysis)
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