Effect of lump-sum subsidy and tax-rate reduction on a firm's R&D investment - Focusing on R&D investment cost uncertainty with real options theory - :R&D 투자비용 불확실성을 고려한 실물옵션 모형접근법

Gihyun Kwak; Youngjun Yeo; Sungmoon Jung

doi:10.46251/INNOS.2017.11.12.4.131

Effect of lump-sum subsidy and tax-rate reduction on a firm's R&D investment - Focusing on R&D investment cost uncertainty with real options theory -

Recommendations

Search

Questions

투자 보조금 지급과 세제 혜택이 기업의 R&D 투자 의사결정에 미치는 효과 : R&D 투자비용 불확실성을 고려한 실물옵션 모형접근법

Type: Academic journal

Author: Gihyun Kwak Youngjun Yeo Sungmoon Jung

Journal: Korea Society of Innovation Innovation studies Vol.12 No.4 KCI Accredited Journals

Published: 2017.11

Pages: 131 - 153 (23page)

DOI: 10.46251/INNOS.2017.11.12.4.131

Usage

📌

Topic

📖

Background

🔬

Method

🏆

Result

Effect of lump-sum subsidy and tax-rate reduction on a firm's R&D investment - Focusing on R&D investment cost uncertainty with real options theory -

Abstract· Keywords

Report Errors

This study analyzes the effects of investment subsidies and tax credits which are repre-sentative policy instruments for promoting R&D investments, considering that there is uncertainty about investment cost which is a main characteristic of R&D project. For the analysis, we have applied the real-option theory and compared the effects of those policy instruments in terms of the efficiency of R&D investments promotion. From the analysis, it is found that both investment subsidies and tax credits bring greater R&D investment promotion effects as the uncertainty of investment costs and the maximum investment rate of the enterprise is greater. However, it is also found that in the case of investment subsidies, the R&D investment promotion effects are less sensitive to the changes in the discount rate than the case of tax credits, while the R&D investment promotion effects are found to be greater as the discount rate is getting lowered for the case of tax credits. As a further analysis, the efficiency of policy instruments has been examined for the cases of single policy instrument, and policy-mix of those policy instruments. From the analysis, it is found that the efficiency of the tax credits proved to be superior to the investment subsidies for incentivizing R&D investments. In addition, it is also found that the efficiency of the single policy instrument is superior to the poli-cy-mix of those policy instruments. From those analyses we can conclude that both policy instruments (investment subsidies and tax credits) have a substitute relationship, rather than a complementary one.

#보조금 #세제 혜택 #Subsidy #Tax credit #R& #D 투자 #Real options theory #실물옵션이론 #R& #D investment

No content found

References (0)

Add References

If the reference is being serviced by DBpia, please register through [Add Reference]

Recommendations

It is an article recommended by DBpia according to the article similarity. Check out the related articles!

Related Authors

곽기현

Affiliation 한국벤처투자

Fields Social Science > Business Management Interdisciplinary Studies > Interdisciplinary Research

Articles 8 Usage 2,415

여영준

Affiliation 국회미래연구원

Fields Interdisciplinary Studies > Science and Technology Studies TOP 5% Interdisciplinary Studies > Technology Policy

Articles 13 Usage 4,693

정성문

Affiliation 동아대학교

Fields Interdisciplinary Studies > Science and Technology Studies

Articles 5 Usage 1,318

Frequently Viewed Together

A Study on Determinants of Firms’ Environmental Innovation using Ensemble Model

Juyeon , Lee , Soohyun Pa Journal of Korea Technology Innovation Society 2024 .06

The Effect of Corporate Financial and R&D Factors and Government Subsidies on Private R&D Investments

Hanah Cho , Junki Kim Journal of Korea Technology Innovation Society 2019 .10

Discretionary R&D Expenditure and Tax Avoidance - Focus on R&D Tax Relief -

Seong Tae Kim , Sung Ook Pa , k Journal of Tax Studies 2019 .12

The Effect of Government R&D Subsidies on Private R&D Investments

Hanah Cho , Junki Kim 한국기술혁신학회 학술대회 2019 .05

Direct Support vs. Indirect Support - Towards an Optimal Policy Mix for R&D Investment of SMEs -

Kim , Juil 한국경영학회 융합학술대회 2018 .08

Comments(0)

Write first comments.

UCI(KEPA) : I410-ECN-0101-2018-050-003546304

구분	그룹	데이터 항목
AI 학습용 데이터	원문	원문 PDF 파일
AI 학습용 데이터	원문 + 메타 (기본/상세)	원문 PDF 파일 및 서지정보 CSV
대량 구매용 데이터	B2B 구독 방식	특정 자료 한정으로 원문 접근 권한 부여
대량 구매용 데이터	URL 전달 방식	바로 PDF 뷰어를 열람할 수 있는 URL 제공

구분	그룹	데이터 항목
AI 학습용 데이터	기본 메타	발행기관명, 간행물명, 권호명, 권(vol), 호(issue), 통권, 발행연도, 발행월, 논문명, 저자명, 시작페이지, 종료페이지, 전체페이지, 상세페이지URL
상세 메타 데이터	발행기관 메타	발행기관 이명, 영문명, 창립연도, 홈페이지URL, 발행기관 소개
	간행물 메타	부제목, 간행물 유형, ISSN, ISBN, 최초발행연도, 폐간연도, 간행빈도, 발행주기, 등재사항, 이용수, 피인용수, 권호수, 논문수, 표지이미지
	논문 메타	작성 언어, 부제목, 대등제목, 목차, 키워드, 초록, 이미지, 참고문헌, 이용수, 피인용수, 논문활용도, DBpia통합주제분류, KDC분류, DDC분류, 한국연구재단분류, UCI, DOI
	저자 메타	소속기관, 소속부서, 직급, 연구분야, 연구키워드, 이용수, 피인용수, 저자 논문활용도

구분	그룹	데이터 항목
※ 결합형/맞춤형 메타 데이터는 신청 내용에 따라 다양하게 제공 가능
이용순위 정보	주제분야별 많이 이용된 논문	“인문학”에서 많이 이용된 논문 TOP100
	이용기관별 많이 이용된 논문	“중고등학교”에서 많이 이용된 논문 TOP100
	세부기관별 많이 이용된 논문	“서울대학교”에서 많이 이용된 논문 TOP100
	키워드별 많이 이용된 논문	“Chat GPT”에서 많이 이용된 논문 TOP100
키워드 정보	많이 이용된 키워드	특정기간/분야/저널 내 많이 이용된 키워드
	많이 발행된 키워드	특정기간/분야/저널 내 많이 발행된 키워드
	많이 검색된 키워드	특정기간/분야/저널 내 많이 검색된 키워드
	연구 트렌드 키워드	특정 키워드 연관 연구동향 분석 데이터 키워드

논문 기본 정보

Abstract· Keywords

AI Summary

Topic

Background

Method

Result

주요내용

Contents

References (0)

Recommendations

Related Authors

Frequently Viewed Together

Recently viewed articles

Comments(0)