• Journal of Korea Technology Innovation Society
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• v.21 no.4
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• pp.1313-1344
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• 2018

This study aims at investigating the effects of Government R&D subsidies. We analyse the effects of inputs and behavioral additionality on the output additionality. We also measure the moderate effects of the experiences of benefiting from government R&D on the relationship between inputs and behavioral additionality and the output additionality. We conducted a structured questionnaire on the companies who have participated in promotion program of the Korea Innovation Cluster. 126 responses were collected and alnalysed using the OLS technique. Empirical results show that the relationship between input/behavioral additionality (management, follow-up, cognitive capacity) and output additionality had positive effect. The moderating effects of experiences of R&D subsidy on the relationship between input additionality and output additionality and the relationship between cognitive additionality and the output additionality appear to be statistically significant.

• Journal of Technology Innovation
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• v.30 no.1
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• pp.57-104
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• 2022

The government has supported the innovation of private firms by intervening the market for various purposes, such as preventing market failure, alleviating information asymmetry, and allocating resources efficiently. Although the government's R&D budget increased rapidly in the 2000s, it is not clear whether the government intervention has made desirable impact on the market. To address this, the current study attempts to explore this issue by doing a systematic literature review on foreign and domestic papers in an integrated way. In total, 168 studies are analyzed using contents analysis approach and various lens, such as policy additionality, policy tools, firm size, unit of analysis, data and method, are adopted for analysis. Overlapping policy target, time lag between government intervention and policy effects, non-linearity of financial supports, interference between different polices, and out-dated R&D tax incentive system are reported as factors hampering the effect of the government intervention. Many policy prescriptions, such as program evaluation indices reflecting behavioral additionality, an introduction of policy mix and evidence-based policy using machine learning, are suggested to improve these hurdles.

• Journal of Convergence for Information Technology
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• v.12 no.3
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• pp.222-235
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• 2022

The Government provides a financial assistance to stimulate firm R&D and innovation activities. Previous papers on the impact of public subsidies on firm R&D investments mainly had a focus on an individual policy tool regardless of potential impacts of other policy instruments. This study addresses this gap by examining the effects of policy mix regarding a subsidy and a tax credit. The empirical analyses from fixed effect model using Survey on Technology of SMEs 2015-2017 revealed valuable points. First, policy mix induces more R&D investment of SMEs, which in turn, shows a complementary relationship between two instruments. Second, even if impact of tax credit controlled, subsidy is positively associated with SMEs R&D investment. These findings justify policy mix interventions to promote SME R&D activity. Moreover, grants can be applied as a more useful policy tool for SMEs that are constrained by resources and capabilities.