過去有關研發支出資本化的文獻中，一脈的文獻主要探討研發支出資本化與市場反應的關聯，而另一脈則研究研發支出資本化對績效的影響及所衍生的盈餘管理問題。本研究主要研究研發支出資本化所造成過度投資之實質盈餘管理問題。
本研究以2007年至2011年美國軟體業上市櫃公司做為樣本，檢驗研發支出資本化是否會導致過度投資。除此之外也檢視企業社會責任是否對「研發支出資本化與過度投資間的關聯性」具有調節效果。實證結果發現，研發支出資本化會導致過度投資。然而對於研發支出資本化所造成的過度投資無法藉由企業社會責任自發性的道德標準獲得抑止，仍需藉由被動的公司治理。

One stream of research discusses the relation between R&D capitalization and market reaction, while another one discusses the effect of R&D capitalization on financial performance and earnings management. This study aims to investigate whether R&D capitalization leads to over-investment in subsequent R&D.
Using a sample of U.S. software listed companies over the period of 2007-2011, this study finds that R&D capitalization leads to overinvestment. Moreover, the overinvestment induced by R&D capitalization is mitigated by formal corporate governance rather than informal corporate social responsibility.

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