• Journal of Korea Technology Innovation Society
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• v.10 no.2
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• pp.183-205
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• 2007

An investigation was undertaken of the optimal discriminant model for predicting the likelihood of insolvency in advance for medium-sized firms based on the technology evaluation. The explanatory variables included in the discriminant model were selected by both factor analysis and discriminant analysis using stepwise selection method. Five explanatory variables were selected in factor analysis in terms of explanatory ratio and communality. Six explanatory variables were selected in stepwise discriminant analysis. The effectiveness of linear discriminant model and logistic discriminant model were assessed by the criteria of the critical probability and correct classification rate. Result showed that both model had similar correct classification rate and the linear discriminant model was preferred to the logistic discriminant model in terms of criteria of the critical probability In case of the linear discriminant model with critical probability of 0.5, the total-group correct classification rate was 70.4% and correct classification rates of insolvent and solvent groups were 73.4% and 69.5% respectively. Correct classification rate is an estimate of the probability that the estimated discriminant function will correctly classify the present sample. However, the actual correct classification rate is an estimate of the probability that the estimated discriminant function will correctly classify a future observation. Unfortunately, the correct classification rate underestimates the actual correct classification rate because the data set used to estimate the discriminant function is also used to evaluate them. The cross-validation method were used to estimate the bias of the correct classification rate. According to the results the estimated bias were 2.9% and the predicted actual correct classification rate was 67.5%. And a threshold value is set to establish an in-doubt category. Results of linear discriminant model can be applied for the technology financing banks to evaluate the possibility of insolvency and give the ranking of the firms applied.

• The Journal of Small Business Innovation
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• v.19 no.3
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• pp.1-16
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• 2016

Korean government had used public 'credit guarantee schemes' (CGS) as a counter-cyclical measure. However, it is still controversial about the effectiveness of policy financing on the SMEs. Criticism on policy financing involves the argument that supporting enterprises hampers competition and innovation of SMEs by increasing their dependence on the government and delays the exit of marginal firms. In this paper, we investigate how to effectively build up the rationale of running public CGSs. At the same time, we propose the ways to coexist of public credit guarantee and market-based private finance system for SMEs. First, CGS, as a counter-cyclical function, must coexist with the private financial system by compensating the market failure caused by pro-cyclical behavior of the private financial market. Second, CGS has the comparative advantages, compared to both the interest rate policy of the central bank and fiscal policy of the government. The credit guarantee is the symptomatic treatment that could revitalize the economy shortly by providing liquidity. Also, knowing that CGS is provided based on the leverage ratio defined by outstanding guarantee divided by capital fund, public 'credit guarantee' (CG) has an advantage that is free from the risk of government deficit. Third, the reason for existence of the CGS should be founded in supporting services for SMEs, available only in a public sector that is difficult to expect from private banks. In this regard, it is desirable to strengthen the publicness of credit guarantee over the support for start-ups, growing companies, the improvement of productivity, increase of exports, a long-term investment in facilities, the employment-creating businesses, and innovative enterprises.

• Journal of Korea Technology Innovation Society
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• v.20 no.2
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• pp.292-312
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• 2017

The purposes of this research are to verify: first, if the technology appraisal model reflects the company's management performance and the rates of bankruptcy and overdue; second, if the existing classification system of technology levels is suitable; and third, which is the most important appraisal factor that defines the classification system of technology levels. As a result of the analysis, financial performance (stability) and non-financial performance (technology environment) proved to be significant variables in explaining technology ratings. According to the verification of the suitability of classification system, it appeared that there is a significant difference in all appraisal items of all groups. The result of neural networks model verification indicates that the most important variable was the R&D capacity, the second variables which determine the suitability of technology financing were indicators related to the company management. The second variables which determine a company's technological excellence were a company's technological base. To summarize, the technology appraisal model not only reflects both managerial performance and risks of a company, but also anticipates the future by converging the management competence and technological competitiveness into R&D capacity. This implies that if the 'forward-looking' technology appraisal model is integrated into the existing, credit rating model, the appraisal model may have positive impact on improving anticipation and stability.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.11
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• pp.308-320
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• 2017

The national government, as well as many regional governments, have supported the 'Ppuri industries', and the Daejeon region is in need of developing these sectors. Various research studies have examined the ppuri industries. However, there are limited studies concerning innovative activities and difficulties in the industries. Therefore, this paper focuses on firms' innovative activities and difficulties in the ppuri industries in the Daejeon region and provides policy implications. For this purpose, we surveyed firms supported by Daejeon Technopark's Ppuri industries programs, utilizing an innovation survey questionnaire developed by STEPI. We assumed that these firms have high intention for innovation among firms in the Daejeon's ppruri industries, and tried to identify characteristics and problems of innovative activities by comparing results with those of STEPI's Korean Innovation Survey. The results show that the overall pattern of innovative activities of Daejeon's ppuri industry firms do not differ from those found in the Korean Innovation Survey. However, there are a few notable differences. The rate of aborted innovation in the Daejoen's ppuri industries was higher than those found in the Korean Innovation Survey. Lack of financing was a major factor hampering innovation. These results provide policy implications that industrial and regional characteristics of ppuri industries must be reflected in the policy, and also policy measures for lowering the rate of aborted innovation.

• Journal of the Korean Regional Science Association
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• v.34 no.4
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• pp.3-18
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• 2018

These days, regional innovation draws more attention than ever as a growth engine for regional economies, and governments put a variety of efforts to establish Regional Innovation systems(RISs). In this circumstance, this study aims to analyze types of RISs and the combinations of the factors influencing innovation performance as measured by patent application. Most of previous works have depended on case-oriented or variable-oriented strategy to classify types of RISs or to analyze the effects on performance of innovation factors, having some limitations: Variable-oriented approaches fail to capture complex combinatory effects of factors, while case-oriented approaches tend to depend on subjective interpretation. This study made use of the recently proposed fs/QCA(Fuzzy-set Qualitative Comparative Analysis) to overcome the limitations of those strategies. Based on the theory of RIS, three factors for regional innovation-input, infrastructure, and network-are used to classify 16 Korean Provinces. The results show that eight types of regional innovation types are identified, and that most of the regions are classified into either IN-type, equipped with high levels of Input and Network, or F-type, with high levels of infrastructure. In addition, applying seven sub-variables of the three factors to the fussy-set combination factor analysis, we examine a combination of factors influencing patent application. The results show that regions with high levels of R&D expense, valid patent, industry-academia cooperation, IP budget, and TLO values, and low IP capital almost always have a high level of patent application. Therefore, for regional innovation, the public sector needs to provide institutional support for R & D personnel training. It is also important to for both the public and the private sectors to make efforts to stimulate IP financing.

• Journal of Technology Innovation
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• v.18 no.1
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• pp.1-20
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• 2010

Firm’s social network has been known as an important firm strategy because it could promote technological innovation and also minimize economic uncertainty. In this study, we identify four types of firm’s social network activities such as Collaboration, Manufacturing/Marketing/Distribution Agreements, Financing, and M&A, and analyze how these activities affect firm performance using U.S biotechnology firm data. We found that Manufacturing/Marketing/Distribution Agreements increased firm performance in short-run. Also, collaboration with pharmaceutical and biotechnology firms had a positive effect on firm performance, too. However, collaboration with public institutes or universities had a negative effect on firm performance in short run, which implies its collaboration would be mainly focused on research in pure science area. These empirical results provide two policy implications. First, social network strategy should be encouraged in the Korean biotechnology industry. Secondly, governments should consider developing polices that support collaboration of biotechnology with public institutes or universities, to promote technological innovation.

• Journal of Korea Technology Innovation Society
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• v.20 no.1
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• pp.81-102
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• 2017

Financing, manpower support and tax are the most popular tools for policy for small and medium enterprises (SMEs). This paper, however, will introduce information analysis support for SMEs and will prove that can be a good tool. The information analysis support means the support of technology and market information for the technology development or commercialization of SMEs. Therefore, the support is a customized one. In the theory domain, we adopt and prove two theoretical grounds as an SMEs policy such as market and system failure. In the policy tool domain, we suggest four requirements to be an SMEs policy and prove the tool to satisfy these requirements. All the data and proofs are from a government research institute called K.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.4
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• pp.271-279
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• 2019

The purpose of this study is to identify the barriers of university and industry cooperation and to develop recommendations for the internal ecosystem of technology commercialization. The research method used is a survey of three categories of experts from 9 universities of Almaty (researchers, technology transfer managers, spin-off-owners). Despite the strong efforts of the government of Kazakhstan in building innovation infrastructure, there is a low level of innovation activity, less than 5% of university inventions are transferred into the industry. The results of the expert survey showed that the main barriers for cooperation between university and industry are: lack of resources to build university-industry links, lack of time due to high teaching load, poor qualification of technology transfer managers and lack of networking with industry. Based on the results of the expert survey, it is proposed to develop the ecosystem for the commercialization of university-based technologies, for which the following economic activities are important: human resources, financing, intellectual property management system, and intermediary infrastructure. The results of this study can be applied in developing the strategies and policies for universities, public research organizations, as well as for national R&D and higher education policies.

• The Journal of Information Technology
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• v.6 no.4
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• pp.163-175
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• 2003

SURF is a compliance engine, checking document content against detail in an established agreement. It provides a single vehicle for handling documentary trade settlement, regardless of the risk profile and financing requirements of the parties involved. That is, SURF, a Value Added Service connected to the Core Messaging Platform, is a documentary trade settlement service. It offers users of the system automated document compliance checking and a tool to manage the workflow in connection with documentary trade settlement. The Service supports varying degrees of risk transfer between buyer, sellers and banks and supports transactions from open account to more complex Letters of Credit.

• Journal of Korea Society of Industrial Information Systems
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• v.3 no.1
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• pp.117-139
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• 1998

This study is intended to identify the factors affecting the successful information warehouse (IW) implementation through the technology acceptance model. As the IW has played an important role with the organizations, it has become a strategic management tool. However, because the building of an IWS requires a great amound of financing and a multi-period, managers should consider identifying the variables as a predictor of IWS success. The related research areas, such as TAM , TRA, and innovation diffusion theory, and previous research associated with the EWS success factors are reviewed in this paper. Based on the hypotheses presented , the study will empirically test the relationships between six external variable-user involvement, computer self-efficacy, OLAP characteristics, problem difficulty , user training and top management support-and system utilization via user's perceptions of ease of use, unusefulness. This study semmes to be a first attempt in this research area, and its results will provide general guidclines for IWS project managers to enhancement the like hood of system succes.