• Food Science and Industry
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• v.49 no.3
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• pp.29-39
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• 2016

Recently, due to the cognition that obesity is the cause of adult diseases, interests of consumers in low-sugar and low-calorie foods are growing more and more. While various policies are being implemented to reduce sugar contents in processed foods, the reduced sweetness caused by lesser sugar content is complemented by using high-intensity sweeteners. Some of the typical high-intensity sweeteners are sucralose, aspartame, acesulfame potassium and stevia, etc. Since the relative sweetness degree, sweetness profile, and physical properties of these sweeteners should be different from one another, it is important that all these characteristics are well-understood before applying them. Thus, the objective of this study is to introduce the properties and applications of high-intensity sweeteners in order to reduce sugar content of processed foods.

• Journal of Korea Trade
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• v.26 no.5
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• pp.23-38
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• 2022

Purpose - This research intends to find out whether R&D cost stickiness shows differentiated aspects depending on exports in Korea. A cost behavior that indicates a lower rate of costs decrease when sales decrease than the rate of costs increase when sales increase is called cost stickiness. This sticky cost behavior is caused by considering the adjusting costs. This study aims to empirically verify that R&D cost stickiness is greater in export firms than in non-export firms. We also investigate the effect of exports on R&D cost stickiness is nonlinear. Design/methodology - We obtain data for the analysis from Kis-Value and TS2000 from 2012 to 2020. This study tests for R&D cost stickiness of exports using the cost stickiness model developed by Anderson et al. (2003) that is used in a lot of prior literature. To explore the nonlinear behavior of R&D cost stickiness we include a quadratic term of exports in our model. Findings - The results of our analysis are as follows. First, we observed that R&D costs of export firms are more sticky than that of non-export firms. Our result indicated that export firms are less likely to reduce R&D costs in decreasing sales periods in preparation for future sales recovery. Second, our empirical evidence shows that export firms view R&D costs much favorably. However, we hypothesize that the effect of export intensity on R&D costs may not necessarily be linear. Our result shows the effect of exports intensity on R&D stickiness is thus nonlinear, forming a reverse U-shaped curve. When export intensity exceeds a certain threshold, the growth rate of R&D costs appears to be viewed negatively. Firms with relatively high export intensity do not support R&D costs, viewing them as taking away firms' resources from other more productive costs. On the contrary, those with export intensity under the threshold view R&D costs as beneficial and therefore promote further R&D costs when revenue decreases. Originality/value - The results of this research can contribute academically to the expansion of empirical research on R&D cost stickiness. R&D cost stickiness varies by industry. As a result of our research, the managers of export firms recognize the importance of R&D to lead innovation. We expected that this research contributes to further studies on R&D costs and cost stickiness. Second, this research has implications from a business perspectives. Our findings of export firms' R&D stickiness suggest that export firms' managers should consider keeping the stickiness of R&D when revenue decreases because it is essential for exporting firms to maintain their R&D stickiness to secure long-term competitiveness. R&D stickiness can be used on a practical basis to emphasize the need for continuous investment in exporting firms' R&D activities.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.37 no.3
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• pp.24-35
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• 2014

This paper examines, from the perspective of the structure-conduct-performance (S-C-P) paradigm, the structural factors that determine R&D concentration in industries. The results are as follows. First, an industry's R&D concentration is directly related to its market concentration, R&D intensity, capital intensity, and technological opportunities. In contrast, the higher an industry's performance, the more likely the diffusion of R&D investment is for firms belonging to that industry. Second, an industry's R&D concentration has a positive effect on its market concentration but a negative effect on its performance, suggesting that governments should adopt R&D policies that would induce more firms to invest in R&D instead of focusing only on a few firms to enhance industry performance.

• International Area Studies Review
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• v.14 no.3
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• pp.312-338
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• 2010

This paper investigates the value relevance of advertising activity over the period from 2001 to 2009 in the listed Korean stock markets(KOSPI and KOSDAQ). In addition, this paper divide all sample firm into several subsample, based on R&D intensity and export ratio in total sales. The empirical result of this paper shows following two evidence; First, advertising intensity, which proxies for advertising activity, is significantly related to firm value at the 1% level of significance. Second, advertising activity of high R&D intensity and high export ratio sample firms has more significant value relevance than for firms with low R&D intensity and low export ratio. The empirical results suggest that moderation effect of R&D intensity and export ratio are very important factor in determining the value relevance of advertising activity.

• 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.

• Management & Information Systems Review
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• v.38 no.1
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• pp.1-21
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• 2019

This study focuses on (1) the relationship between the network intensity of top managers and the R&D investment of Korean firms, and (2) the moderating effects of the type (related-division vs. unrelated-division) and system (physical division vs. spin-offs) of corporate division on this relationship. The sample of this study was all type and/or system of corporate division implemented by Korean firms during 18-years (1999-2016) study periods. The results of multiple regression analyses as follow. First, as was expected in hypothesis 1 the network intensity of top managers has a strong positive linear relation with the R&D investment of Korean firms. Second, regarding the moderating effect of division type the results show that related-divisions significantly intensify the positive relationship of the network intensity of top managers with the R&D of Korean firms although unrelated-divisions did not. Third, in the analysis of moderating effect of corporate division system the results present the stronger positive moderating effect of spin-offs rather than physical divisions. The findings of the study implies that strong network intensity of top managers can be beneficial to long-term decision such as R&D investment of Korean firms. They accords to network theory that emphasize the importance of strong network effect among top managers based on their trust. The findings also implies that researchers and practitioners should consider organizational-level factors such as organizational structure, culture, corporate governance, etc as well as individual-level factors such as the characteristics and relationships of organizational members when making the decision for firm.

• Knowledge Management Research
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• v.19 no.3
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• pp.189-223
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• 2018

This paper examined the effect of innovation networks comprising research and development (R&D) collaboration on innovation performance of Korean pharmaceutical firms. As co-assigned patents and co-affiliated publications are common technical outcomes of successful R&D collaboration in the pharmaceutical industry, social network analysis technique was applied for analyzing innovation networks through patent and publication data. Results of Social network analysis indicated that a small set of highly innovative firms in the Korean pharmaceutical industry were actively involved in patenting and publishing. And the analysis of structural equation model found the followings: (1) R&D intensity significantly affected patenting, publication and new drug development, (2) the activity of patenting and publishing was positively related with the innovation performance measured by new drug development, and (3) R&D collaboration in terms of degree centrality of co-patent network played significant moderating roles on the relationships among R&D intensity, patenting, and new drug development. These findings are expected to be helpful to researchers as well as policy-makers to devise innovation-promoting policies in the Korean pharmaceutical industry. Discussions and limitations of the study are provided in the last part.

• Clean Technology
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• v.17 no.2
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• pp.181-188
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• 2011

In this study, the complementary or crowding-out effects of public R&D subsidy on private R&D investment in the cleaner production were analysed between the effects and the major determinants (company size, R&D investment intensity, ratio of government investment, R&D manpower intensity). Among 207 firms' projects, the number of the complementary effect was 95 (45.9%) while that of crowding-out effect was 38 (18.4%). Resulting from logistic regression, the higher the R&D investment of sponsored companies is, the more complementary effect they show, responding to public R&D subsidy, and increase own R&D investment. The other determinants, however, showed no significant effects on firms' R&D investment. To heighten the effect of public cleaner production R&D, it is need to increase the priority of R&D investment intensity among the determinants. And to increase the performance of governmental R&D investment, further studies for the individual public R&D programs are necessary.

• Journal of Technology Innovation
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• v.16 no.2
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• pp.1-16
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• 2008

This paper shows that labor mobility is positively related to R&D intensity at the industry level in Korea. Different from the perception based on individual firm-level studies arguing that firms can be reluctant to R&D in fear of the job transfer of employees, firms in industries which have high job transfer of employees turn out not to reduce investment in R&D. This result is also confirmed by 2SLS regression. This result supports that, if there exist spillover effects through the job transfer of employees, job transfer can positively contribute to R&D activities.

• Journal of Korea Technology Innovation Society
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• v.14 no.3
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• pp.466-487
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• 2011

This study analyzed the effect of small and medium businesses' R&D intensity and patents on their price-earnings (P/E) ratios. Regression analysis was conducted on a sample of manufacturers listed on the Korean Securities Dealers Automated Quotations (KOSDAQ) for the past decade (2000~2009). The result is summarized as follows. First, a negative correlation was identified between companies' R&D intensity and their P/E ratios, but no significant relationship was found between their numbers of domestic patent applications and registrations and P/E ratios. Second, the analysis of the effect of the companies' R&D intensity on their P/E ratios resulted in a negative correlation of -1%. Third, the analysis of the effect of the companies' number of domestic patent applications and registrations on their P/E ratios showed that they did not have any significant relationship. Fourth, high-tech firms' R&D intensity had a negative correlation of -1% with their P/E ratios, but had a positive correlation of 1% with their numbers of domestic patent applications. Furthermore, the R&D intensity of middle-to-high and middle-to-low tech enterprises had a negative correlation of -1% with their P/E ratios, whereas their numbers of domestic patent applications and registrations had no significant relationship with their P/E ratios. The above results suggest that to produce successful outcomes from their R&D investment and patents, individual firms need strategies for technological innovation that relate to their technological level.