• Journal of Technology Innovation
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• v.24 no.2
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• pp.57-89
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• 2016

This paper used individual establishment level data to estimate the effects of government support for the research and development of 'small and medium enterprises'(SMEs). We analyzed, on the establishment level, the degree of technical advancement, strength of private R&D incentives, and the effect on employment levels of firms which participated in the 2010 government R&D support project. The results of this study are as follows. First, the size and frequency of government investment in the R&D of SMEs were both positively correlated with the amount of patent registrations. Furthermore, we found that the amount of patent registrations were positively correlated with the size of the establishments, but the average level of technological advancement for the firms running the research was lower than the average level of technological advancement for the firms merely participating in the project. Second, the government's R&D policy was found to be complementary to private R&D incentives, and a 1% increase in government R&D investment resulted in an inelastic increase (0.193~0.245%) of the firms' post-program R&D spending. Third, we found that R&D support from the government contributed to an increase of employment by the participating firms. Additionally, we found that the impact of R&D support on job creation varied for the firm size and technological characteristics. Therefore, it is important for governments to take into consideration each type of small business, when setting R&D policies.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.12
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• pp.162-169
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• 2016

Using 1795 observations from the 5 year-359 firm panel data collected during the period from 2009 to 2013 in Chinese stock exchanges, this study examines the impact of the controlling shareholders' ownership on R & D expenditure. This empirical study finds that when firms are state-owned, the controlling shareholders' ownership has a U shaped relation with the level of R & D expenses. A non-linear relation is also found when piece-wise regression models are applied. This empirical study also finds that when firms are private-owned, the controlling shareholders' ownership is negatively related to the level of R & D expenses, and no structural changes in the relation are found when piece-wise regression models are applied. These results support the hypothesis that the effects of the controlling shareholders' ownership on R & D expenses may differ depending on the ownership type of the controlling shareholders. This finding suggests that the differences in the controlling shareholders' incentives due to their ownership type should be considered when exploring the relation between the controlling shareholders' ownership and corporate strategic decisions.

• International Commerce and Information Review
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• v.19 no.4
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• pp.75-91
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• 2017

Lately, countries around the world have been focusing their efforts on shifting from conventional industries to innovative-technology-based industries, and committing their competencies to growing startups as an important next-generation industry that will lead national competitiveness. However, there are inadequacies in studies and methods that analyze research and development (R&D) investment and startup performance from a technology perspective, which is an innate nature of startups. This study analyzed the correlation between a startup's R&D investment and its performance. More specifically, this study performed a correlation analysis and a panel analysis on startups that reached KRW 100 billion in revenue; these analyses were not applied in previous studies. The following are the findings: first, the R&D investment percentage of startups located in other regions was relatively higher than that of those in the Seoul metropolitan area, and second, when a startup's operating margin and net profit margin were high, its R&D investment percentage tended to go higher. In conclusion, this study identified that R&D performance resulting from R&D investment was a core competency factor in the success of a startup.

• Journal of Digital Convergence
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• v.12 no.5
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• pp.171-180
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• 2014

This study is about effects of government R&D subsidies program participation factor for SMEs R&D performances. Currently, Government R&D subsidies program has been operating in various forms, and each company subsidies, facilities, equipment, personnel and training have been supported. Each of the companies is also involved with various factor of support to participate in the subsides program. Therefore, This study verifies the hypotheses that after government R&D subsidies program of project implementation, various participation factor of companies have an effect positive impact on business management skills of administrative performance. Also, This study verifies the hypothesis of an influence on the R&D investment and the technological capability of technical performance. Through such a analysis results will help to carry out guide for strategic R&D performance management of government R&D subsidies program participation companies.

• International Commerce and Information Review
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• v.16 no.5
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• pp.51-66
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• 2014

The relationship study between SMEs' R&D and business performance is important research subject. The objective of this paper is to evaluate whether the effectiveness of government's R&D subsidy for SMEs is supported. The positive perspective is that the support policy stimulates the SMEs innovation activities including R&D and thus contributes to the performance, but the negative view is that the support policy rather decreases the firm's own R&D investment and thus the result is not necessarily promising. This paper is to evaluate the effectiveness of government subsidy on SMEs' R&D. This study suggested DID and Random Effect Models for analysis using the panel data of 2,807 SMEs in manufacturing sector. The data was collected from the 'Survey on SMEs Technology & R&D 2011' conducted by Korea Federation of Small and Medium Business. The results are as follows. First, government's subsidy has crowded out 4.7% of beneficiary's internal R&D investment. Second, government's subsidy has increased 27.3% of beneficiary's R&D intensity in spite of 4.7% internal R&D investment reduction. Third, government's subsidy didn't have a relationship with firm performance but the R&D intensity made positive influence on the firm performance. Finally, R&D intensity has increased the 6.7% of firm performance. These results mean that government's subsidy give a positive impact on SMEs' performance through R&D intensity with relatively small crowding-out effect.

• The Journal of the Korea Contents Association
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• v.14 no.11
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• pp.893-904
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• 2014

This study is designed to analyze the status of R&D investment and managerial performance related to the domestic manufacturing. To accomplish the purpose of the study, We have regression analyzed 6,054 companies based on the data of 'Business Activity Survey' disclosed by Statistics Korea. Result of the study are as follows. First, electronics, IT, and auto industry account for 25.6% of the country's manufacturing companies and take up 75.8% of the total R&D funding for the manufacturing industry. Second, R&D funding exercises positive influence on sales and the number of registered patents, which last exerts positive influence on sales.

• Knowledge Management Research
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• v.22 no.4
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• pp.173-187
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• 2021

In that economic growth strategy through maximizing input would not working anymore in the rapidly changing economic environment, now we should focus on the improvement of firms' efficiency. This study estimate the efficiency and determinants of the efficiency using the panel data of 938 Korean manufacturing firms which ranked in high R&D investment firms during 2005~2018. We found that both R&D intensity as R&D input and patent stock as R&D output increase the efficiency of firms independently. And firm size, debt ratio, profitability also affect the firm's efficiency.

• Korean small business review
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• v.42 no.4
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• pp.147-172
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• 2020

This study presents the determinants of R&D efficiency as the focus on CEO's competency, which influences R&D competency and R&D efficiency. The research samples are 6,708 technology-innovation small and medium-sized enterprises (SMEs). The independent variable is the R&D competency(existence of R&D organization, level of R&D personnel, R&D personnel management, R&D investment), the dependent variable is R&D efficiency. The moderator is the CEO's competency(experience level in its own industry, technical knowledge level, technology management strategy, management ability). R&D efficiency measures the relationship between inputs(level of R&D personnel, R&D investment) and outputs(patent applications, prototype) by the DEA. and the determinant analysis uses Tobit regression. As a result of the analysis, the existence of R&D organization and R&D personnel management is positively significant, level of R&D personnel and R&D investment is negatively significant for R&D efficiency. The moderating effect of CEO's competency on the relationship between the R&D competency and R&D efficiency is significant determinants of CEO's experience(experience level in its own industry, technical knowledge level) and technology management strategy. The finding is to measure the efficiency of R&D performance, and to analyze its determinants as the moderating effect of CEO's competency, using the technology appraisal data. In the conclusion session, the limitations of the research and future research directions were discussed.

• The Journal of the Korea Contents Association
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• v.21 no.1
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• pp.12-23
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• 2021

Due to high proportion of exports, Korea has a higher dependence on the global value chain (GVC) than other major developed countries. This reason, Korea has a structure that is sensitive to GVC changes. This is because Korean exports are concentrated on specific countries and items, and most of the materials for export tend to depend on imports. Currently, export restrictions resulting from trade disputes with Japan can affect the industry of Korea as a whole due to the supply of core materials. Therefore, in order to minimize economic damage caused by export regulations in the current situation, it is necessary to reorganize the GVC, through efforts to rapidly diversify imports and localize imports that depend on Japan. To this end, it is necessary to derive and classify imported goods that depend on Japan, and to localize items that are difficult to diversify imports, and prompt R&D investment is required for this. This study aims to support R&D investment policy through quantitative analysis based on big data rather than a decision-making method based on expert-centered qualitative analysis.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.5
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• pp.265-278
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• 2022

R&D projects for product development are crucial for ventures' growth and success. Current study summarizes existing studies that identify the relationship between startup ventures' R&D department, R&D investment, and R&D cooperation on product development performance, and highlights the effects of business model as well as the roles of R&D activities for product development project that have been traditionally emphasized. In order to consider the effects of business models that were not previously available, the effects of these factors on product development performance were comprehensively analyzed. The research results with 180 venture cases surveyed on venture companies in the growth stage in Korea, showed that the effect of product development project activities measured by R&D department, R&D investment and R&D cooperation on product development performance is not evident. However, the effect of business model on product development time and product development performance measured by product innovation was confirmed. In particular, it was found that the clarity and uniqueness of the business model interacted with the R&D investment to shorten the product development time and directly increase the innovativeness of the developed product. Based on these analysis results, the implications of this study, limitations of the study, and the future research directions were described.