논문 국내 국내전문학술지(KCI급) The Association of Three Types of Cash Flows and R&D Investment
- 학술지 구분 국내전문학술지(KCI급)
- 게재년월 2010-08
- 저자명 권기정
- 학술지명 Journal of The Korean Data Analysis Society
- 발행처명 한국자료분석학회
- 발행국가 국내
- 논문언어 외국어
- 전체저자수 1
홈페이지논문 초록 (Abstract)
This paper investigates the relevance between R&D investment and operating cash flow(cash flow from operating activities),invest ment cash flow(cash flow from investment activities), and financial c ash flow(cash flow from financing activities)over the period of 200 0-2008 in Korean security market. Especially, the study splits samples into several groups by firm size and technology level. Empirical res ults show while operating cash flow is positively related to R &D investment, investment cash flow and financial cash flow are ne gatively associated with R&D investment. This results suggest tha t operating cash flow is the most important source of R&D invest ment among three types of cash flows in cash flow statement. The resul t also indicate that the relevance between three types of cash f lows in cash flow statement and R&D investment differs according to firm size and technology level.