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http://dx.doi.org/10.12673/jant.2011.15.1.104

A study on the influences of R&D investment on Machine and Material Industry and Eletronics Industry  

Oh, Seung-Ryung (Graduate School of Kyung-Hee University, Dept. of Business Administration)
Kim, Kun-Woo (Graduate School of Kyung-Hee University, Dept. of Business Administration)
Publication Information
Journal of Advanced Navigation Technology / v.15, no.1, 2011 , pp. 104-111 More about this Journal
Abstract
In this study, I have tried to analyze an influence of R&D investment on ROV(Real Option Value), corporate value and market value by analyzing R&D investment, ROV, corporate value and market value of machine and material industry in the perspective of ex post. As a result of this study, corporate value, which has been deduced by real option according to R&D investment, reflects market value well and possesses a strong correlation with R&D investment, ROV, corporate value and market value. This implication demonstrates this study result is corresponding with existing theories.
Keywords
R&D investment; ROV(Real Option Value); Corporate Value; Market Value; Black & Scholes model options;
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