• 한국경영과학회지
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• 제40권4호
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• pp.19-33
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• 2015

Recently, interest in research and development (R&D) investment decisions have increased among Korean domestic enterprises. However, existing R&D investment studies only focused on government R&D investment policies while only a few studies investigated firm level R&D investment. Prior literatures also overlooked the feedback loop between R&D investment and firm performance. Therefore, this paper identifies a system dynamics model for R&D investment decision making in domestic electronics firms. The conceptual model is derived from R&D investment-related theories found in bodies of literature on company performance, enterprise activity, and market maturity. This study investigates the dynamic feedback between R&D activities and sales using the system dynamics model. In other words, the system dynamics model is used to explain the change in the closed feedback circulation structure in R&D investment activities including technology development, production process, and marketing that subsequently result in sales increase and re-investment into R&D from the generated revenues. There are two major results. First, a similar ratio of investment on technology development and production process derives the higher company sales. Second, regardless of market maturity, marketing investment ratio positively affects sales and R&D budget growth. This study provides a system dynamics model to find the optimal ratio for R&D investment and suggests managerial strategic implications on electronic firm R&D investment decision making under market maturity condition.

• 지식경영연구
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• 제20권4호
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• pp.119-129
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• 2019

This paper is aim to test how market orientation is related to the investment decision making. After controlling for firm-specific factors, this study finds a significantly positive relationship between market orientation and R&D expenditures, especially firms with high ratio of intangible assets and low ratio of abnormal inventory assets. Under conditions of low quality of earnings, the negative relation between market orientation and R&D expenditures is enhanced in electronic related industries. This indicates that the relation between market orientation and R&D expenditures may exhibit more reasonable patterns for investment decision of firms in technology driven business environment.

• 기술혁신연구
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• 제18권1호
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• pp.75-98
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• 2010

본 연구는 정부의 대표적인 상용화 기술혁신정책인 산업기술개발사업의 성과에 영향을 미치는 요인을 분석함으로써 관련 정책결정자에게 정책적인 시사점을 주는데 목적이 있다. 이를 위해 2003년부터 2007년간 종료된 산업기술개발사업을 대상으로 정부가 중요하게 고려하는 정책요인별로 가설을 형성하였다. 사업을 수행한 주관기관의 유형(대기업, 중소기업, 벤처기업, 연구소, 대학)에 따라 R&D성과에 차이가 있는지, 산학연간의 협력 개발이 단독 개발에 비해 R&D성과가 나은지, 과제 참여기관 수와 R&D성과의 관계, 과제 총금액의 크기와 R&D성과의 관계, 과제 총금액에서 차지하는 민간 총투자금의 비중과 R&D성과의 관계 등을 검증하고 있다. R&D성과는 산업기술개발사업의 제1차적 성과물인 특허등록건수와 논문게재건수로 측정하였다. 포아송 회귀분석 결과, 기업이나 연구소에 비해 대학이 특허 및 논문 차원의 R&D성과가 높은 것으로 나타났으며, 벤처기업의 특허 성과는 중소기업의 특허성과에 비해 높은 것으로 나타났다. 산학연의 협력개발은 단독개발에 비해 대체적으로 R&D성과가 높고, 과제 총금액이 클수록 R&D성과가 높으며, 민간 총 투자금의 비중이 높을수록 대체적으로 R&D성과가 높은 것으로 나타났다. 과제 참여기관의 수와 R&D성과간의 역U자형 관계 가설은 지지되지 않았다.

• 한국건축시공학회:학술대회논문집
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• 한국건축시공학회 2023년도 봄 학술논문 발표대회
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• pp.343-344
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• 2023

In order to expand its entry into not only the domestic construction market but also overseas global markets, it is necessary to secure technological competitiveness, and as a fundamental measure, it is necessary to increase the proportion of R&D investment and establish and revitalize R&D organizations. Therefore, the purpose of this study is to analyze construction sales and construction R&D investment for global construction companies in Korea and Japan, derive implications, and provide basic data for government policy establishment and global construction company strategy establishment. As a result of analyzing R&D investments in construction companies in Korea and Japan, it can be seen that Japanese construction companies have higher R&D investment costs compared to sales compared to Korea. In particular, the proportion of R&D investment continues to increase year-on-year, strengthening global competitiveness due to technology development. In addition, Japanese construction companies have established a technology research institute to discover and conduct future R&D research such as advanced IT, disaster prevention, and environment.

• 기술혁신학회지
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• 제6권3호
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• pp.279-297
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• 2003

The purpose of this paper is to analyze the determinants of company R＆D investment with zero observations by using the data of R＆D Scoreboard published by Ministry of Science and Technology(2002). Conventional parametric approach to dealing with zero investments is not robust to heteroscedastic and/or non-normal error structure. Thus, this study applies symmetrically trimmed least squares(STLS) estimation as a semi-parametric approach to dealing with zero R&D investments. The result of specification test indicates the semi-parametric approach outperforms the parametric approach significantly. Moreover, the results of the study provide various implications as summarized below. The R&D investment of IT company is larger than that of non-IT company. The R&D investment has a positive relation to foreigners' investment ratio. The higher degree of financial self-reliance is, the larger the R&D investment is. Firm size variables such as sales amount and the number of workers are positively related to R&D investment. The sales elasticity of R&D investment is larger than one. However, the workers elasticity of R&D investment is smaller than one.

• Asian Journal of Business Environment
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• 제10권4호
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• pp.5-13
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• 2020

Purpose: The purpose of this paper is to empirically investigate the relationship between government subsidies and research and development (R&D) investment of animal husbandry companies in China. The moderating effects of firm size, debt ratio, and firm profitability on this relationship are also examined. Research design, data and methodology: The analysis is based on 14 animal husbandry companies listed on the Shanghai and Shenzhen stock exchanges over the period of 2012-2016. Data are obtained from the China Stock Market & Accounting Research (CSMAR) database and the RESSET database, and multiple regression analysis is utilized with the aid of Stata. Results: The empirical results show that government subsidies can promote R&D investment of animal husbandry companies in China. In addition, firm size, debt ratio, and firm profitability have positive moderating effects on the relationship between government subsidies and R&D investment. Conclusions: Based on the results, the paper concludes that government subsidies play an important role in the process of R&D of China's animal husbandry companies. This paper recommends that managers of animal husbandry companies should enhance the utilization efficiency of government subsidies and put great emphasis on R&D investment. The policymakers should implement more incentives to encourage animal husbandry companies to invest more in R&D.

• 기술혁신연구
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• 제20권1호
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• pp.263-294
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• 2012

R&D연구소를 보유하고 있는 우리나라 민간기업 118개를 분석한 결과, R&D투자는 기술사업화성과, 매출액증가율 및 영업이익증가율 등 경영성과에 모두 긍정적인(+)영향을 미치는 것을 확인하였고, 기술사업화 능력이 R&D투자와 경영성과간의 관계에서 분석한 결과, 기술전략기획능력, 기술프로세스능력, 기술조직능력인 광의의 기술사업화 능력이 경영성과에 부분적으로 매개효과를 나타났으며, 제조능력과 마케팅능력인 협의의 기술사업화 능력은 경영성과에 모두 매개효과가 있는 것으로 나타났다. 따라서 R&D투자가 경영성과를 달성하는데 필요한 요인이지만, 기술사업화 능력도 경영성과에 매개작용을 하므로 기술사업화 능력을 강화하는 것이 필요함을 시사하고 있다.

• 기술혁신연구
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• 제23권1호
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• pp.87-105
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• 2015

본 연구는 한국 제조업 중소기업의 R&D 투자와 성과 간의 관계를 분석하여 비선형 형태를 확인하고, 문턱값인 투자적정수준을 도출하였다. 기존 연구들은 투자와 성과 간 시차를 고려하지 않거나, 투자와 성과 간 회귀모형에서 투자 변수의 1차, 2차 항을 이용한 산술적 계산을 통하여 간접적으로 투자수준을 결정하였는데, 본 연구에서는 이를 극복하기 위해 2년의 시차를 가정한 문턱회귀모형을 사용하였다. 분석결과에 의하면, R&D 집중도 및 연구원비율과 이익률간의 관계는 S곡선 형태를 보였고, 매출액 대비 R&D 투자액 기준으로 6.4%, 종업원수 대비 연구원수 기준으로 13%가 R&D 투자의 적정수준으로 도출되었다. 연구로부터 도출된 투자 및 성과 간 관계 형태와 문턱값은 향후 기업의 R&D 투자 전략 및 정부 지원 정책의 기초자료로 활용될 수 있을 것으로 기대된다.

• 경영과학
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• 제16권1호
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• pp.63-74
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• 1999

This paper presents a R&D investment model for the Information and telecommunications(l&T) technology using multiple objective linear programming(MOLP). The MOLP model involves the simultaneous maximization of three linear objective functions associated with three criteria, which are social, technological, and economic criterion. This model is different from the traditional one which only involves the maximization of economic criterion. It yields a suitable R&D investment ratio to each technology field. Its application to the National R&D Project in l&t Industry is also presented. In this application, the Analytic Hierarchy Process(AHP) is proposed to estimate the weights, which used as the coefficients in each objective function of the MOLP model. Then the problem is solved using the interactive method STEM. It is showed that with the aid of STEM, the MOLP model can be useful decision aid in formulation R&D investment plan in l&t industry. It is expected that the MOLP model works as the basis for planning R&D investment strategy in l&T industry.

• 한국콘텐츠학회논문지
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• 제15권6호
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• pp.445-454
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• 2015

본 연구는 우리나라 코스닥 제약기업을 대상으로 소유구조가 제약기업의 연구개발투자(R&D)에 미치는 영향을 분석하였다. 실증분석을 위한 표본은 2000년부터 2012년까지 상장된 기업들 중 코스닥 제약기업을 대상으로 하였으며사용된 전체 표본은 13개년 자료로써 358개 관측치를 가진 불균형패널자료이다. 본 연구에 사용된 주요 변수들 중 개별기업 별 재무자료는 상장회사 협의회의 TS-2000을, 임원현황 및 주주분포 등은 금융감독원 전자공시 시스템의 각 기업 사업보고서 자료를 통해 자료를 직접 수집하였으며 기업나이, 기업크기 등은 NICE신용평가정보의 KISVALUE-III 등의 자료를 참고하였다. 연구결과, 첫째 주요주주율과 외국인투자율은 연구개발투자에 긍정적인 영향을 미쳤다. 둘째, 사외이사율은 연구개발투자에 부정적인 영향을 미쳤다. 셋째, 기관투자율은 통계적으로 유의한 결과를 미치지 못했다.