• Journal of Korea Technology Innovation Society
• /
• v.10 no.4
• /
• pp.706-726
• /
• 2007

This study attempts to empirically investigate the effects of government R&D subsidies on private firm's R&D investment in Korean industry. The R&D subsidy effect is defined as the average percentage change in firm's R&D expenditures between what was actually observed among firms that received a subsidy and what these firms would have spent had the subsidy not been received. To measure the effect we use Difference-in-Differences (DID) model which sign as to whether the relationship between government subsidies and private R&D investments is on stimulating or displacing private R&D expenditures. The differences between this study and previous studies are that we tries to measure the effect of Government R&D across various sited firm groups such as large, small & medium, and venture firms and we add one lag of the subsidy indicator in order to capture the effect of the subsidies on private R&D during 2 consecutive period. Empirically, a firm with government R&D subsidy increases its own R&D investment by 13.9%. Also on average, 1% of government R&D subsidy leads to 0.031% of private R&D increase. The main results of this study are as follows : First, Government R&D subsidies stimulate private firm's R&D expenditures. Second, Government R&D subsidies greatly increase (statistically significant) company financed R&D expenditures only for large firms but had no effect on the R&D expenditures of small & medium sized firms and venture firms.

• Restorative Dentistry and Endodontics
• /
• v.23 no.2
• /
• pp.586-596
• /
• 1998

Amalgam is one of the most commonly used dental restoration material because of its convenience, economic and physical properties. But microleakage in the tooth and amalgam interface has been its major problem, and many efforts have been made to overcome this shortcoming. The purpose of this study is to compare the effect of various liners on microleakage of amalgam restoration. Cavities were prepared on the buccal or lingual surface of ninety sound, extracted human premolars and six different liners (Tubulitec$^{(R)}$, Superbond D-liner II Plus$^{(R)}$, Superbond D-liner II Plus$^{(R)}$ with polymer, Scotchbond Multipurpose Plus$^{(R)}$, Copalite$^{(R)}$, No liner) were unapplied according to manufacturer's instructions and amalgam had been condensed immediately. The specimens were thermocycled by dipping in methylene blue dye at $5^{\circ}C$ and $55^{\circ}C$ for 1500 cycles. The amalgam-tooth interface was examined under stereobinocular microscope and the dye penetration was scored. The results were as follows : 1. The Tubulitec$^{(R)}$ group showed less microleakage than no liner or Copalite$^{(R)}$ group (p<0.01). 2. The Tubulitec$^{(R)}$, Superbond D-liner II Plus$^{(R)}$, Superbond D-liner II Plus$^{(R)}$ with polymer and Scotch bond Multipurpose Plus$^{(R)}$ groups were not significantly different. 3. The Copalite$^{(R)}$ and Scotchbond Multipurpose Plus$^{(R)}$ groups were not significantly different. Using the polystyrene liner and resin liners under admixed type of high-copper amalgam restoration significantly reduced microleakage in the tooth-amalgam interface. Further clinical studies on polystyrene liner are recommended.

• Journal of Veterinary Clinics
• /
• v.19 no.1
• /
• pp.43-48
• /
• 2002

This study was performed to investigate the effects of recombinant BST formulation treatment on the milk yield, milk components, mastitis, and general cow health condition when the formulations of retinyl palmitate, cholecalciferol and rBST were administered after the peak period of milk production. The milk yields of treatment groups (Group I, II, III and IV) were increased from 21.5% to 29.0% than that of control group. There was significant difference in milk production between treatment group II, IV and control group (P<0.05). However, there was no significant difference in milk production between treatment group I, III and control group (P<0.05). And the addition of retinyl palmitate and cholecalciferol into rBST formulation did not increase the milk yield. The milk of treatment groups with sustained-release rBST did not show significant difference in milk components (milk fat, protein, lactose, and solid not fat). However, there were minor changes, primarily in fat content of milk, during the first few weeks of rBST administration. There was no incidence of clinical mastitis between rBST treatment groups and control group. Addition of high and medium concentration of retinyl palmitate and cholecalciferol into sustained-release rBST formulation was efficient in reduction of somatic cell count in milk. There was great energy deficit in all treatment groups compared with control group during the early study period. Thus, the body condition score of all treatment groups showed lower value than control group. No evidences of metabolic health problems, such as ketosis, milk fever, and downer cow were observed. Incidence of general lameness did not appear on all treatment groups during 140 days of this study.

• Journal of Korea Technology Innovation Society
• /
• v.6 no.3
• /
• pp.373-390
• /
• 2003

With limited resources, proper allocation of the national R&D budget is very crucial matter for reinforcing the national competence, and the importance of selecting strategic R&D fields have been increasingly emphasized by technology policy-makers and CTOs. This paper deals with technology relevance/cluster analysis, which measures technological dependency and relevancy among technologies, and how it can be used for selecting the strategic R&D fields especially satisfying SMEs(small and medium enterprises)' specific needs. As a result of this study, technology-product tree composed of 7 major technology fields, 22 clusters, 41 groups, 335 core-need technologies and hundreds of related business items are produced that can be used for designing SMEs' R&D/business portfolio as well as R&D investment decision-making of the Ministry of Small and Medium Business Administration.

• Journal of Information Technology Services
• /
• v.8 no.3
• /
• pp.1-14
• /
• 2009

Due to economic turbulence and fierce competition in the IT service industry, companies have been seeking breakthrough of offerings by investing in research and development (R&D). This paper aims to examine the impact of R&D expenditure size on financial performance focusing on Korean IT service companies. The expected growth rate of revenue and net profit in the upcoming two years were analyzed based on three groups according to different R&D expenditure rates using collected data from 100 of IT service companies. Unlike our presumptions, our finding presents a non-significant relationship between the R&D expenditure size and companies' financial performance. An interesting result among others is that all companies invested in R&D strongly believe there will be an increase of their financial performance in the future.

• Korean small business review
• /
• v.43 no.1
• /
• pp.1-33
• /
• 2021

This study explores differential value implications of R&D expenditure across firms, especially in terms of growth potential of small businesses. Analyzing Korean listed firms for the period from 1982 to 2014, we document the followings. First, large firms, defined as the top quintile group based on market capitalization, have spent higher R&D expenditure compared to small (bottom quintile group) and medium (middle quintile groups) firms and the difference between groups has enlarged over time. Relatedly, the persistence of R&D spending, measured by the association between current R&D expenditure and cumulative future R&D expenditure over the next five years, is lowest in small firms. Second, R&D of large (small) firms are more (less) likely to generate operating profits over the next five years. Additional analyses suggest that the relation between R&D and gross margin is strongest in large firms, suggesting that R&D underlies their competitiveness in the product market. Third, small firms have borne the highest uncertainty related to R&D investment proxied by the association between current R&D and volatility of future earnings. As a result, the likelihood of R&D leading to future patents is also lowest in small firms. Fourth, the probability of moving up to the next size group within the next five years is significantly lower in small firms than others. Finally, we find that the divergence in R&D expenditure between large and small firms is positively associated with product market concentration. Overall, our findings confirm the small business growth trap in relation to R&D investment.

• Journal of Korean Society of Rural Planning
• /
• v.9 no.3 s.20
• /
• pp.41-46
• /
• 2003

The study was focused on setting priority for future core technologies in rural development and resources using AHP. The technologies were derived by Delphi method. Evaluation criteria for the priority setting were decided as 'technology', 'market oriented', and 'public concerns' by council. The future core technologies were divided as four groups by importance and R&D level. Technologies in upper two groups were considered in the study. Group I had high importance and high R&D level. Group II had high importance and lower R&D level. Questionnaires were given to 9 specialists in agricultural resources. As the results, 'public concerns' was decided as a most important evaluation criterion. The most important technologies are "technology developing for animal feces and urine treatment, and restoration it to farm land" in group I, and "technology developing for agricultural by-products as energy source" in group II.

• Journal of Technology Innovation
• /
• v.22 no.3
• /
• pp.65-100
• /
• 2014

We tried to find out the technological innovation properties of the National Research and Development Projects (NRDPs) through scientometric analysis of patent data generated by the NRDPs. The distribution of technology groups in patent data shows that NRDPs are highly focused on the Information Technology(IT) group. The Relative Cites Index(RCI) analysis implies that the Biotechnology(BT) group will emerge in the future. The Relative Family Indices(RFIs) are high among the high technological impact groups such as BT and IT. We defined new measures related with technological convergence and collaborativenessopenness relations among R&D agents. Using network analysis techniques, we analysed the absorption-derivation relations among technology groups and the opennesscollaborativeness relations among R&D agents. Recently, both the share of hetero-plural technology groups and the collaboration among different R&D agents are increasing.

• Proceedings of the Korean Operations and Management Science Society Conference
• /
• 2008.10a
• /
• pp.152-156
• /
• 2008

This study examines the relationships between R&D investment and Market value of Firms using data of small and medium enterprises (SMEs) in the manufacturing sector of Korea. In particular, this paper investigates the role of technology innovation system in the impact of R&D investment on firm's Market value of Firms. Findings from the previous studies on the relationship between R&D investment and Market value of Firms are positive relationship. Main of the previous studies demonstrated a positive impact of R&D investment on Market value of Firms. On the other hand, some recent studies showed this is not the case. Those studies persisted that the technological innovation system for managing and efficiently utilizing R&D investment and capability has to be built in order for R&D investment to give rise to increases in Market value of Firms. According to the Oslo manual by OECD, it is assumed that a technology innovation system can becharacterized as three factors :capability for technological innovation, capability for technology commercialization, capability for technological innovation management. This study divides sample firms into two groups using the "Inno-Biz" certificate system of the Korean Small and Medium Business Administration (SMBA): Inno-Biz firms Vs. Not Inno-Biz firms. The system selects innovative SMEs denoted as "Inno-Biz" using the above factors as criteria. The results revealed that the technology innovation system has the moderating effect to R&D investment on Market value of Firms.

• Journal of Korean Society of Industrial and Systems Engineering
• /
• v.39 no.4
• /
• pp.125-136
• /
• 2016

The external R&D, which includes the adoption of the external technology and knowledge in addition to the internal R&D, is one of important factors for the innovation. Especially for small and medium-sized enterprises (SMEs), the external R&D has been considered as a key factor to carry out the innovation more efficiently due to the limitations of their resources and capacities. However, most of extant studies related to external R&D have focused on analyzing the influence of external R&D on innovation outputs or outcomes. Only a few studies have explored the impact of external R&D on the innovation efficiency. This study therefore investigates whether the external R&D effects the industry's innovation efficiency and productivity. On this study, we used Korean manufacturing industry data of SMEs from 2012 to 2014 and employed a global Malmquist productivity analysis technique, which is based on the Data Envelopment Analysis (DEA), to assess the innovation efficiency and productivity. Innovation performances of external R&D group and internal R&D group are compared. Then, the sectoral patterns of both innovation efficiency and productivity are analyzed with respect to the technological intensity, which is introduced by OECD. The results show that the gap of innovation efficiency between external and internal R&D groups has gradually decreased because of the continuous improvement of the external R&D group's performance, while the external R&D group lag behind the internal R&D group. In addition, patterns of the innovation efficiency and productivity change were different depending on the technological intensity, which means that the higher the technological intensity, the greater the effect of external R&D.