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http://dx.doi.org/10.14386/SIME.2021.29.3.1

An exploratory study on the characteristics of technology innovation persistence of Korean firms  

Song, Changhyeon (한국과학기술연구원 기술정책연구소)
Lee, Jungwoo (과학기술정책연구원 R&D혁신연구단)
Jang, Pilseong (과학기술정책연구원 혁신제도연구단)
Publication Information
Journal of Technology Innovation / v.29, no.3, 2021 , pp. 1-31 More about this Journal
Abstract
With the growing importance of technology innovation as a key factor for firms' competitive advantage, 'innovation persistence' became also an important research subject. 'Innovation Persistence' is a concept that indicates whether or not firms' innovation activity or performance continues. However, the data used for innovation studies are carried out as cross-sectional surveys in most countries. For this reason, studies dealing with longitudinal aspect of innovation persistence are rare. In particular, there is almost no research on innovation persistence using Korean innovation survey data. This study reviews the concepts and characteristics of innovation persistence based on extant literature, and perform an empirical analysis on the status and features of Korean firms' technology innovation persistence. Based on the data of the Korean Innovation Survey (KIS) conducted every other year from 2012 to 2018, panel data on 3,379 firms which observed multiple times are constructed. As a result, only part of the firms with persistent innovation were observed (for innovation performance 10~12%, for innovation activity 15~17%), and it was found that the persistence of non-innovation was remarkable(about 52~57%). And it was confirmed that the persistence of innovation activities is stronger than that of innovation performance. Besides, some features by sub-types of innovation appeared. Product innovation showed higher persistence than process innovation, and internal R&D also showed higher persistence than joint/external R&D. As a result of additional logit analysis to identify factors, it was found that radical or gradual product innovation is the most influential factor in persisting innovation in the next period. Since the sample selection bias due to a limitations of raw data might exist in the panel data constructed in this study, it should be noted that faulty generalization of the results are not allowed. Nevertheless, this is the first study to examine the technology innovation persistence targeting Korean firms and is expected to be a starting point for follow-up studies. It is anticipated that advanced research results will be drawn through the establishment of official panel data and improved methodologies.
Keywords
Technology innovation; Innovation persistence; Korean Innovation Survey (KIS); Innovation activity; Innovation performance; Panel data;
Citations & Related Records
Times Cited By KSCI : 2  (Citation Analysis)
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