Choice of R&D strategy and asymmetric cost behaviour

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This study investigates the effect of corporate R&D investment on the asymmetric behaviour of SG&A costs. Managers decide how much resources to invest in R&D, based on the strategic objectives of the company. We found that if more resources are invested in R&D, the company reserves more resources when sales decrease. Additionally, we distinguished capitalised R&D from expensed R&D to demonstrate that the effect on SG&A cost behaviour is different according to disclosure policies. This will help in understanding the decision-making process which is dependent on the management's motivation or perception of R&D investment.
Publisher
ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
Issue Date
2021-08
Language
English
Article Type
Article
Citation

TECHNOLOGY ANALYSIS & STRATEGIC MANAGEMENT, v.33, no.9, pp.1022 - 1035

ISSN
0953-7325
DOI
10.1080/09537325.2020.1862786
URI
http://hdl.handle.net/10203/287243
Appears in Collection
MG-Journal Papers(저널논문)
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