Abstract
AbstractWe investigate the effects of R&D intensity on efficiency of productivity in non-IT firms and IT firms, in a sample taken from the KOSDAQ market over the period 2000–2011. The main empirical result is as follows: First, by comparing production efficiency between IT firms and non-IT firms, we find that R&D intensity has a positive effect on production efficiency and plays an important role in production growth. Second, R&D intensity of Non IT firm is relatively smaller than IT firms compared. Third, performance (Tobin’s Q or ROA) of IT firms is more sensitive to productivity of R&D intensity than that of non-IT firms, and stock market is favorable to firms with high level of productivity of R&D intensity.KeywordsR&D intensityProductivityIT firmsNon IT firm
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