기업의 녹색기술 인증과 연구개발지출 자본화의 관계에 대한 실증연구

초록

This study empirically examines the relation between firm’s Green Technology Certification (GTC) and its technological feasibility and firm’s decision on the capitalization of research and development (R&D) expenditures. Specifically, this study tries to investigate how firm’s GTC and its degree of technological feasibility are reflected in the process of R&D capitalization. The system of technology certification is designed to improve quality of information provided to a variety of decision makers. We expect that by providing better information with standardized indicators, GTC may enhance accounting practice related to intangible assets, effectively reducing costs of trust that various interest parties bear. Therefore, this study focuses on whether GTC can play an informative role of delivering economic value of intangible assets in the process of financial reporting. From regression analyses on the association between GTC and the rate of R&D capitalization, we find the following empirical results. First, firms with GTC are likely to have significantly higher rate of R&D capitalization than firms without GTC. Second, when there is lower uncertainty about technological feasibility, firms with advanced technical progress of the green technology are more likely to have higher rate of R&D capitalization than firms without advanced technical progress. However, when there is higher uncertainty about technological feasibility, the technical progress of the green technology is not significantly associated with the rate of R&D capitalization. The findings from this study imply that information about the technology certification of intangible assets such as GTC can help in providing better financial reporting which reflects economic benefits of intangible assets more thoroughly.

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