한일제약기업 연구개발비가 미래 이익에 미치는 영향

• 영문명: The Effect of R&D Expenditures on the Future Earnings of Korean and Japanese Pharmaceutical Companies
• 발행기관: 한일경상학회
• 저자명: 오석진(Seok-Jin Oh) 이창민(Chang-Min Lee)
• 간행물 정보: 『한일경상논집』제92권, 17~32쪽, 전체 16쪽
• 주제분류: 경제경영 > 경영학
• 파일형태: PDF
• 발행일자: 2021.08.31

영문 초록

Purpose: In contrast to Korea, which introduced IFRS entirely in 2011, Japan has its own accounting standards, and in the case of IFRS, companies can arbitrarily decide to introduce IFRS from 2010. According to IFRS, R&D expenditures that satisfy the capitalization criteria are recognized as assets, but under the Japanese accounting standards, they must be treated as expenses. This paper focuses on the accounting standards for R&D expenditures, and analyzes how R&D expenditures affect future earnings. Research design, data, and methodology: The analysis subjects were selected as pharmaceutical companies with significant R&D expenditures. Accounting information of pharmaceutical companies in Korea and Japan was collected through the KIS-VALUE database and each company’s financial statements. For the analysis method, a fixed-effect model was used. Results: As a result of the analysis, different results were found in Korean companies depending on the listed market. in the case of KOSPI listed companies, capitalized R&D expenditures had a positive effect on future earnings, but in the case of non-KOSPI listed companies, it had a negative effect. Also, in a study on Japanese companies, it was confirmed that expensed R&D expenditures had a positive effect on future earnings under the Japanese accounting standards but had a negative effect when IFRS was introduced. Implications: If capitalized R&D expenditures have a positive effect on future earnings, it can consider that R&D expenditures are recognized as assets under the capitalization criteria required by IFRS. In other words, it can be said that Korean KOSPI companies met the capitalization criteria, but in the case of Non-KOSPI companies, capitalized R&D expenditures did not meet the criteria. In Japanese companies, it can be inferred that expensed R&D expenditures did not positively affect future earnings because the companies that adopted IFRS turned R&D expenditures into assets.

목차

1. 서론

2. 한일제약기업의 연구개발비

3. 선행연구와 가설도출

4. 연구설계

5. 분석결과

6. 결론

키워드

Capitalization IFRS(International Financial Reporting Standards) Pharmaceutical R&D