• Proceedings of the Korea Technology Innovation Society Conference
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• 2013.10a
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• pp.247-260
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• 2013

• Journal of the Korea Institute of Information and Communication Engineering
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• v.17 no.5
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• pp.1043-1048
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• 2013

Authorities of the major industrialized countries infer that technological advances have a greater contribution to economic growth compared to traditional factors of production such as labor and capital and are actively pursuing investment in research and development. We have examined quantitatively the effect of R & D investment on exports in the IT sector in this study. Based on that results, how much of R & D investment in the IT sector should be made in order to reach trade surplus of two trillion dollars, which Korea government has aimed in 2020, is also to be analyzed.

• Journal of the Korea Convergence Society
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• v.10 no.11
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• pp.367-374
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• 2019

This study aims to examine the impact of corporate governance systems on the relationship between R&D investment and the performance of Chinese firms. The sample firms were obtained from the statistical yearbook of Chinese high-tech firms. We implement a multiple-regression analysis for an empirical examination. The findings of showed that the separation of the board chair with CEO strengthen the R&D investment-performance relationship of Chinese firms. However, the outsider ratio of the board was found to negatively moderate that relationship. This study provides practical guidelines for Chinese firms undertaking R&D management and corporate governance systems. It also encourages future study on the effects of corporate governance as the means for R&D investment management.

• Journal of Technology Innovation
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• v.24 no.2
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• pp.91-113
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• 2016

The purpose of this study is to examine the causal relationship among R&D spending and variables of technology trade, and to explore promoting R&D activities and revitalizing technology trade. To analyze the causal relationship, we built a multivariate model that consists of government R&D spending, private R&D spending, technical importation and export of techniques, and employed the Granger-causality test based on an error correction model. The results show that there are five Granger-causality relationship among them in the short run, as well as there are eleven Granger-causality relationship among a total of twelve causal relationship, excluding only a unidirectional causality relationship from the government R&D spending to the export of techniques, in the long run. Besides, we attempted the impulse-response analysis on them to observe the reaction of any dynamic system in response to some external change. The significance of this paper is to make sure the causal relationship between R&D investments and the technology trade by analyzing empirically, and to suggest several implications for promoting the R&D activities and revitalizing the technology trade.

• KDI Journal of Economic Policy
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• v.27 no.1
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• pp.81-122
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• 2005

The paper aims to establish the characteristics of the Korean firms' R&D investment and to estimate the private rate of return to R&D investment. For the empirical analysis, a balanced panel data is constructed with 695 firms on 8 year observations. The panel data enables to characterize R&D investment of the Korean firms, which is mostly conformed to the 'stylized facts' of R&D investment that found in the previous studies on foreign firms. Klette model was used to estimate the private rate of return on R&D investment and depreciation rate of R&D capital. The paper estimates that the rate of return on R&D investment is 10.5% on average or 16.4% on median for the whole industry whereas manufacturing firms show 10.4% on average or 16.4% on median. The depreciation rate was estimated about 32.9% for whole industry, where it ranges from the minimum 11.6% for metal industry and 49.5% for services. The median estimate of the rate of return for R&D investment of Korean firms is roughly two times higher than real interest rates for the same period, which implies that R&D investment allows sizable rent in addition to the opportunity cost of capital investment.

• Journal of Convergence for Information Technology
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• v.10 no.1
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• pp.1-12
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• 2020

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.

• Journal of the Korean Society for Railway
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• v.13 no.5
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• pp.528-534
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• 2010

In the new growth theory, R&D stock is the third factor of production excluding a labor and capital. In this point, a R&D stock is located in a capital which is accumulated by money like existing capital and this is a knowledge capital. The effort for escalating this knowledge capital is R&D investment and R&D stock is an accumulation of this. A contribution degree of the economic growth and a return of R&D investments are analyzed by an estimation of relation R&D stock and a total factor of productivity. This study analyzed R&D stock of railroad R&D investments and compared R&D stock with a technical level. So, a technical level is proportionally escalated following escalation of R&D stock. and compared railroad industry weight on the GDP with a railroad R&D stock weight on whole industries R&D stock. According to a relatively small railroad R&D stock weight against the railroad industry weight, a continuous railroad R&D investment is needed.

• The Journal of the Korea Contents Association
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• v.22 no.8
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• pp.287-296
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• 2022

The purpose of this study is to verify the effect of government subsidies and R&D investment on the increase in profits of Chinese environmental protection companies. The research method for this was empirically analyzed using the Chinese CSMAR database for 161 Chinese environmental protection companies and using statistical data obtained from 805 samples. The analysis results are as follows. First, government subsidies had a positive effect on the increase in profits of Chinese environmental protection companies. Second, government subsidies had a positive effect on R&D investment by Chinese environmental protection companies. Third, R&D investment had a positive effect on the increase in profits of Chinese environmental protection companies. Fourth, R&D investment through government subsidies has a partial mediating effect on the effect on the increase in profits of Chinese environmental protection companies. In this study, based on the results of the study, a plan was proposed to promote the increase in profits of Chinese environmental protection companies by expanding government subsidies to Chinese environmental protection companies and focusing on R&D investment.

• The Journal of the Convergence on Culture Technology
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• v.9 no.3
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• pp.779-787
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• 2023

In the relationship between the shareholding ratio of National Pension Service (NPS) and the investee firm's value, this study examined the mediating effect of R&D expenditure which its increase can indirectly induce the increase of firm value, and examined the moderated mediation effect of the Stewardship Code implementation which pressures investee firms' to increase R&D expenditure and firm value. Using the Korean listed companies' data from 2016 to 2021, the analysis showed that the R&D expenditure had a partial mediation effect on the relationship between NPS's shareholding ratio and firm value. Also, the analysis showed that the NPS's Stewardship Code implementation had positive moderating effects on following relationships, one between NPS's shareholding ratio and R&D expenditure, and the other between NPS's shareholding ratio and firm value. In all, on the relationship between NPS's shareholding ratio and firm value, the R&D expenditure's mediation effect differs before and after the implementation of the stewardship code, which shows the moderated mediation effect.

• Journal of Energy Engineering
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• v.21 no.3
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• pp.315-324
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• 2012

Waste reduce, recycle, energy recovery technology is one of 27 key green technology by 2012, the government should increase R&D investment, despite the period 2008 to 2010 average annual growth rate was decreased. Accordingly, this area of government investment in R&D status analyzed in detail and as a result, total government investment in R&D decreased, but in these fields to define strategic product services investment in technology is increasing centralization trend that appears to be investment in the quality of determined that the good is. In particular, in 2010, strategic product service of the technologies 3 technology groups ((1) waste energy equipment (2) waste resource recycling facilities (3) waste based materials production facilities) the proportion of 24-28% relatively evenly invested, government R&D is judged that adequate investment in quality.