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An Empirical Study of the Relationship between Industrial Regulations and the R&D Activities of Firms: Does the Size of the Firm Matter?  

Ahn, Seung-Ku (한국과학기술기획평가원)
Kim, Kwon-Sik (경제.인문사회연구회)
Lee, Kwang-Hoon (강원대학교 행정학과)
Publication Information
Journal of Korea Technology Innovation Society / v.20, no.1, 2017 , pp. 62-80 More about this Journal
Abstract
The purpose of this paper is to explore the relationship between industrial regulations and the R&D activities of firms by analysing the case of manufacturing enterprises in Korea. The sample is gathered from the 2012 Korean Innovation Survey data of Korean Institute of Science & Technology Evaluation and Planning and merged with Korean Regulation Index data of Korean Institute of Public Administration. The Ordinary Least Square (OLS) as well as 2 Stage Least Square (2SLS) regression results show that the impact of the level of the manufacturing field's regulation on firms' R&D activities or inputs may be both positive and negative, depending on the size of the firms. The analysis results suggest that regulatory policy makers need to formulate and implement R&D programs that consider the different effects of industrial regulations on large enterprises or Small and Medium sized Enterprises (SMEs).
Keywords
Regulation; R&D; Innovation; Large enterprises; SMEs;
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