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dc.contributor.authorMin, Byung S
dc.contributor.authorSmyth, Russell
dc.date.accessioned2018-09-18T01:10:43Z
dc.date.available2018-09-18T01:10:43Z
dc.date.issued2016
dc.identifier.issn0003-6846
dc.identifier.doi10.1080/00036846.2016.1181836
dc.identifier.urihttp://hdl.handle.net/10072/123729
dc.description.abstractWe examine how leverage affects corporate research and development (R&D) intensity, as well as examine the impact of R&D on firm value in South Korea, a country in which corporate-funded R&D intensity is one of the highest in the world. Among our main results, we find that growth opportunities have a positive effect on R&D intensity, while leverage has a negative effect on R&D intensity. When leverage is at an extremely high level, the relationship between growth opportunities and R&D intensity turns from positive to negative. Using instrumental variables, we find that R&D generates an increase in firm value.
dc.description.peerreviewedYes
dc.languageEnglish
dc.publisherRoutledge
dc.relation.ispartofpagefrom1
dc.relation.ispartofpageto9
dc.relation.ispartofjournalApplied Economics
dc.subject.fieldofresearchApplied Economics not elsewhere classified
dc.subject.fieldofresearchApplied Economics
dc.subject.fieldofresearchEconometrics
dc.subject.fieldofresearchBanking, Finance and Investment
dc.subject.fieldofresearchcode140299
dc.subject.fieldofresearchcode1402
dc.subject.fieldofresearchcode1403
dc.subject.fieldofresearchcode1502
dc.titleHow does leverage affect R&D intensity and how does R&D intensity impact on firm value in South Korea?
dc.typeJournal article
dc.type.descriptionC1 - Articles
dc.type.codeC - Journal Articles
dc.description.versionPost-print
gro.facultyGriffith Business School, Department of International Business and Asian Studies
gro.description.notepublicThis publication has been entered into Griffith Research Online as an Advanced Online Version.
gro.rights.copyright© 2016 Taylor & Francis (Routledge). This is an Accepted Manuscript of an article published by Taylor & Francis in Applied Economics on 21 May 2016, available online: https://www.tandfonline.com/doi/10.1080/00036846.2016.1181836
gro.hasfulltextFull Text
gro.griffith.authorMin, Byung-Seong S.


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