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An Empirical Study on Cost-Benefit Analysis and Measurement of Technological Knowledge Stock in R & D Investment

R中技术知识存量成本效益分析与测度的实证研究

基本信息

批准号：
15530306
负责人：
NISHIMURA Yuko
金额：
$ 1.79万
依托单位：
Toyo University
依托单位国家：
日本
项目类别：
Grant-in-Aid for Scientific Research (C)
财政年份：
2003
资助国家：
日本
起止时间：
2003 至 2004
项目状态：
已结题

来源：
https://kaken.nii.ac.jp/en/grant/KAKENHI-PROJECT-15530306/
关键词：
R & D investment the stock of technological knowledge Intellectual assets Cost-Benefit analysis Nonfinancial metrics 知的資産特許権の価値評価 DCF法超過利益法コストベネフィット分析

项目摘要

In this research, I examined the innovation chain that is composed of "inputs→intermediate variables→outputs" in R & D investment project. The inputs are investment in basic research aimed at creating innovation capabilities or new knowledge, in product development, and in processes R & D such as efforts to increase the efficiency of producing the goods. Intermediate variables are the stock of technological knowledge by which inputs are converted to outputs. Innovation capabilities rest on the stock of technological knowledge. The outputs may be indicated by revenues from patent sales and royalties, sales of differentiated products, and cost saving.Recently, Japanese companies recognize value creation as the corporate goal. To evaluate the corporate value, we forecast the present value of future cash flow stream, or the present value of future EVA, discounted at the cost of capital. To maintain consistency with the metrics of corporate value, managements should use DCF and the present value of EVA to measure the anticipated efficiency of R & D investment project.The difficulty of measuring the stock of technological knowledge originated from nonrivalry or inappropriability and inherent high risk. To measure the stock of technological knowledge, nonfinancial metrics such as patent expiration dates, patent-expired products, anticipated development completion dates, FDA drug approval, a beta test for soft program, are used.I have conducted the questionnaire concerning R & D and the patent last year. According to this survey, the rate of patent utilization decreases with the scale of the firm. This is due to the diversification of the research and development in the large firms.

本研究考察了R & D投资项目中由“投入→中间变量→产出”构成的创新链。投入是对旨在创造创新能力或新知识的基础研究、产品开发和工艺研发的投资，例如提高产品生产效率的努力。中间变量是将投入转化为产出的技术知识存量。创新能力取决于技术知识的存量。这些成果可以通过专利销售收入、专利使用费收入、差异化产品销售收入、成本节约等来体现。近年来，日本企业将价值创造作为企业目标。为了评估公司价值，我们预测未来现金流的现值，或未来伊娃的现值，以资本成本折现。为了与企业价值衡量标准保持一致，管理层应该使用DCF和伊娃现值来衡量R & D投资项目的预期效率。技术知识存量难以衡量的原因在于技术知识的非竞争性或不可占有性以及固有的高风险性。为了衡量技术知识的存量，使用了专利到期日、专利到期产品、预期开发完成日期、FDA药物批准、软件程序的beta测试等非财务指标。我去年进行了关于R & D和专利的问卷调查。根据这项调查，专利利用率随着企业规模的增加而下降。这是由于大公司的研究和开发多样化。