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An Empirical Study on Appraisal Indices' Discrimination Significance for Technology Financing: Focusing on KOTEC's Business Feasibility Appraisal Indices  

Lee, Yong Hoon (Korea Technology Finance Corporation(KOTEC))
Publication Information
Asia-Pacific Journal of Business Venturing and Entrepreneurship / v.15, no.5, 2020 , pp. 37-50 More about this Journal
Abstract
This study aims to investigate meaningful relationship between technology appraisal indices and SMEs' financial performances for their continuous growth. The empirical data for this study were based on the technology appraisal results of Korea Technology Finance Corporation(KOTEC) and the financial data of the following 2 years 0f 3,688 SMEs. The meaningful differences between SMEs with superb financial performances and the others, by using t-test analysis, statistically were verified in 25 indices(75.8%) out of total 33 indices. All of five independent variables, namely CEO's capability, technology manpower, R&D intensiveness, market competitiveness and investment feasibility, were verified to have a positive effect on business feasibility respectively and business feasibility also has a positive influence on financial performance, such as sales growth, labor productivity and financial stability.
Keywords
technology appraisal indices; business feasibility; sales growth; labor productivity; financial stability;
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Times Cited By KSCI : 4  (Citation Analysis)
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