• Journal of Korea Trade
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• 제26권5호
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• pp.23-38
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• 2022

Purpose - This research intends to find out whether R&D cost stickiness shows differentiated aspects depending on exports in Korea. A cost behavior that indicates a lower rate of costs decrease when sales decrease than the rate of costs increase when sales increase is called cost stickiness. This sticky cost behavior is caused by considering the adjusting costs. This study aims to empirically verify that R&D cost stickiness is greater in export firms than in non-export firms. We also investigate the effect of exports on R&D cost stickiness is nonlinear. Design/methodology - We obtain data for the analysis from Kis-Value and TS2000 from 2012 to 2020. This study tests for R&D cost stickiness of exports using the cost stickiness model developed by Anderson et al. (2003) that is used in a lot of prior literature. To explore the nonlinear behavior of R&D cost stickiness we include a quadratic term of exports in our model. Findings - The results of our analysis are as follows. First, we observed that R&D costs of export firms are more sticky than that of non-export firms. Our result indicated that export firms are less likely to reduce R&D costs in decreasing sales periods in preparation for future sales recovery. Second, our empirical evidence shows that export firms view R&D costs much favorably. However, we hypothesize that the effect of export intensity on R&D costs may not necessarily be linear. Our result shows the effect of exports intensity on R&D stickiness is thus nonlinear, forming a reverse U-shaped curve. When export intensity exceeds a certain threshold, the growth rate of R&D costs appears to be viewed negatively. Firms with relatively high export intensity do not support R&D costs, viewing them as taking away firms' resources from other more productive costs. On the contrary, those with export intensity under the threshold view R&D costs as beneficial and therefore promote further R&D costs when revenue decreases. Originality/value - The results of this research can contribute academically to the expansion of empirical research on R&D cost stickiness. R&D cost stickiness varies by industry. As a result of our research, the managers of export firms recognize the importance of R&D to lead innovation. We expected that this research contributes to further studies on R&D costs and cost stickiness. Second, this research has implications from a business perspectives. Our findings of export firms' R&D stickiness suggest that export firms' managers should consider keeping the stickiness of R&D when revenue decreases because it is essential for exporting firms to maintain their R&D stickiness to secure long-term competitiveness. R&D stickiness can be used on a practical basis to emphasize the need for continuous investment in exporting firms' R&D activities.

• 기술혁신연구
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• 제24권3호
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• pp.81-105
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• 2016

본 연구는 ICT산업의 연구개발투자에 따른 비용저감 효과를 계측하는데 그 목적이 있다. 일반적으로 연구개발투자는 제품혁신과 공정혁신을 유발하고, 또 이들은 각각 매출증대와 비용저감 효과를 견인하는 것으로 알려져 있다. 그러나 기 수행된 실증연구들을 살펴보면, 그 대부분이 연구개발투자의 매출증대 기여부분에 초점을 두고 있다. 이에 본 연구는 최근 주목받고 있는 ICT산업을 중심으로 연구개발투자의 비용저감 효과를 분석해 보았다. 이를 위해 초월대수 비용함수와 비용점유율 방정식을 설정하였으며, SUR방법을 통해 실증적으로 분석하였다. 그 분석결과, 연구개발투자에 따른 총비용의 감소효과는 유의한 것을 확인할 수 있었다. 추가적으로 연구개발투자와 각 생산요소들 간의 관계를 살펴보았는데, 연구개발투자와 중간투입은 상호 대체관계, 노동 및 자본과는 보완관계인 것으로 나타났다.

• 아태비즈니스연구
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• 제12권3호
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• pp.397-415
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• 2021

Purpose - The purpose of this study is to analyze the cost behavior of firms, taking into account both high R&D intensity and situations in which R&D activities are likely to be performed efficiently. Design/methodology/approach - During the sample period from 2002 to 2019, regression analysis is conducted on the manufacturing firms with December fiscal year listed on KOSDAQ. The degree of R&D expenditure was measured by R&D intensity. The efficient R&D situation is measured as the decline stage firms in the KOSDAQ market, which are relatively smaller than the KOSPI market. Findings - Firms in the decline phase and high R&D intensity showed the cost stickiness. Because these firms anticipate an optimistic future, they do little to cut current costs even if their current sales decrease. Research implications or Originality - Firstly, it is confirmed that both the extent of R&D expenditure and the situation in which R&D will be effectively performed are important in the study of cost behavior. Secondly, we present a new perspective on strategy research that favors the use of cost advantage strategy related to cost anti-stickiness for the decline firms.

• 품질경영학회지
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• 제43권1호
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• pp.85-102
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• 2015

Purpose: This study is aimed to develope effective guidelines of R&D institute with regard to general management cost, by analyzing the management characteristics of 14 domestic R&D institutes general management costs. Methods: The bootstrapping method is applied to obtain the average general management cost of 14 R&D institute and the effective R&D institutes are presented by comparing the general management costs of R&D and the rate of inflation. Results: The results show that the average R&D general management cost of 14 R&D institutes is 3.32% and, in general, it turns out that the R&D general management costs do not reflect the inflation rate after a comparative analysis of the variation of the R&D general management costs. In addition, the results of cost-effective analysis show that only 5 R&D institutes are efficient in R&D activities. Conclusion: Applying a uniform standard of R&D general management costs although their management characteristics are different, can cause the impediment to the independence and transparency of R&D institutes. Therefore it is recommended a strict implementation with respect to the monitoring system of each R&D institute and the budget policy methods which are reflected management characteristics.

• International Journal of Internet, Broadcasting and Communication
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• 제13권2호
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• pp.36-42
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• 2021

This study aims to examine whether there are some differences in the cost stickiness of R&D expenses of IT companies before and after the COVID-19 crisis. Before COVID-19, IT companies did not reduce R&D expenses even if sales decreased, resulting in cost stickiness. As a result, it appears that during the COVID-19, IT companies adjust R&D expenses in proportion to changes in sales. This is interpreted as a reduction in R&D investment, which takes a long time to create results, in case of a decrease in sales due to uncertainty in future management performance due to the COVID-19 pandemic. In other words, during the COVID-19 risk period, IT companies, like other companies, reduced R&D expenses as sales decreased, resulting in reduced cost stickiness. This study differs from existing literature in that it examines the impact of the COVID-19 pandemic on the R&D expenditure behavior of companies in the IT industry.

• 한국경영과학회지
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• 제32권2호
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• pp.163-175
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• 2007

[ $ulcorner$ ]Cost-Effectiveness Analysis$\lrcorner$ has been wifely used to evaluate economic efficiency of R&D projects, but most of cost-effectiveness evaluation systems have some problems such as systematic method for setting and evaluating cost factors, estimation of single effect on each R&D project, and estimation of cross effects among R&D projects. To solve these problems, we have designed a new evaluation indicator called a $ulcorner$Cost-Cross Effect Integration Indicator$lrcorner$ including cross effects developed in this research. The major research findings are summarized as follows : (1) $ulcorner$Coist Estimation Model$lrcorner$, which estimates the cost factors divided into two classes of assembly product and system product and then integrates the total cost values, has been designed. (2) A new method for estimating parameters of cross effects among R&D projects has been developed. (3) $ulcorner$Cross Effects Estimation Model$lrcorner$ to estimate multi-effects and cross effects by completion time among several projects has been designed. (4) $ulcorner$Integration Estimation Indicator$lrcorner$ for setting priority on a project group has been extracted by combination of total cost value and total effect value.

• 한국산학기술학회논문지
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• 제8권4호
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• pp.946-951
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• 2007

산업 발전을 지원하는 연구개발 관련 기관들은 R&D 사업에 대한 경제적 근거를 요구받고 있다. 본 연구에서는 R&D 사업의 경제적 파급효과 측정을 위해 예측적 비용편익 분석 방법을 사용한다. 가상현실평가모형으로 비용과 편익을 추정하여 주요 계량적 측도를 계산하는데, 한국표준과학연구원 산업측정 신뢰도 제고사업의 세부과제 중 정량적 평가가 용이한 3개 과제에 대하여 예측적 비용-편익 분석 방법을 적용한다.

• 산업경영시스템학회지
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• 제33권3호
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• pp.55-62
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• 2010

Currently, cost estimation is very important to the government acquisition programs to support decisions about funding and to evaluate resource requirement as key decision points. Parametric cost estimating models have been used extensively to obtain appropriate cost estimates in early acquisition phase. However, they have many restrictions to ensure the cost estimating result in Korean defense environment because they are developed in the U.S.A. environment. In order to obtain a good R&D cost estimate, developing our own CERs (Cost Estimation Relationships) using historical R&D data is essential. Nevertheless, there has been little research to develop our own CERs. In this research, we established a CER development process and found some cost drivers in the historical movement weapon system R&D data. The R&D CER is developed using the PCR(Principle Component Regression) method to remove multicollinearity among data and to overcome the restriction of the insufficient number of sample. At least, this research is meaningful as a first attempt in terms of defining the CER development process and obtaining our own R&D CER based on the historical data in Korean weapon system R&D environment.

• 산업경영시스템학회지
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• 제44권4호
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• pp.76-84
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• 2021

Military aircraft R&D projects require large-scale investment in cost and time, and involve a complex coordination process in decision-making. The R&D project manager should determine the development management priorities as accurately as possible and focus on R&D capabilities, thereby reducing the risks of the aircraft R&D project. To this end, this study aims to reduce R&D risk by prioritizing cost, schedule, and performance, which are basic management factors used in R&D project management in defense project management regulations. Analytic Hierarchy Process (AHP) is applied using a questionnaire for managers in charge of aviation R&D under the Defense Acquisition Program Administration. As a primary result, the importance of the factors that the aircraft R&D project manager should consider was derived in the order of performance, cost, and schedule, and the priorities of performance and cost in the lower layer were also identified. In addition, in order to provide practical risk management measures to aircraft R&D project managers, the results of analyzing 28 cases of US National Transportation Safety Board accidents were compared and analyzed with the AHP analysis results, and management measures suitable for the situation were specified.

• 한국산학기술학회논문지
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• 제17권4호
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• pp.615-621
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• 2016

본 연구는 정부R&D지원과제에서 정부R&D지원비율이 높을수록, 기업의 R&D행위와 의지에 도덕적 해이(moral hazard) 또는 대리인문제(agency cost)가 발생하여 지원단위당 기술적 성과가 낮게 산출되지 않을까 하는 의문에서 출발하였다. 본 연구에서는 정부입장에서 수혜기업의 모든 정보를 다 알 수 없어 정보비대칭이 발생하고, 기업입장에서는 총 R&D비용에서 정부지원비중이 커질수록 기업의 도덕적 해이가 발생하여 이로 인해 지원단위당 기술적 성과가 낮아질 수도 있는 개연성을 검증키 위해 정부 R&D지원과제에서 [정부R&D지원금/자기R&D비용] 비율이 기술적 성과에 유의적인 (-)의 영향을 미칠 것인가를 검증하고자 한다. 표본기업은 한국에서 '00-'09년까지 "지역공공기술개발지원사업" 수혜기업이며, 분석방법은 회귀분석 등을 사용하였다. 독립변수는 총R&D비용에서 [정부R&D지원금/자기R&D비용]비율을 사용하였고 종속변수는 출원특허건수, 등록특허건수를 사용하였다. 통제변수로 기업규모 및 총 R&D비용을 사용하였다. 분석결과는 다음과 같다. 정부 R&D지원비율이 높을수록, 지원단위당 기술적 성과와 유의적인 (-)의 관계가 있는 것으로 나타났다. 이는 정부 R&D지원제도에서 수혜기업들의 R&D활동에서 대리인문제(도덕적 해이)가 발생할지도 모른다는 것을 의미하며 정부 R&D지원제도의 개선시, 이를 고려할 필요가 있다는 것이다.