- Volume 14 Issue 7
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Technology Financing for Export-Import based Small and Medium Sized Enterprises: Focused on Supported Enterprises by the Export-Import Bank of Korea
수출입 중소기업의 기술금융에 관한 연구: 한국수출입은행 지원기업을 중심으로
- Lee, Gem-ma (Dept. of International Studies, Kyunghee University) ;
- Kim, Sang-Bong (Dept. of Economics, Hansung University)
- Received : 2016.05.30
- Accepted : 2016.07.20
- Published : 2016.07.28
This study examines the possibility of implementing the technology financing for export-import based small and medium sized enterprises. Our sample consists of 2,753 small and medium sized enterprises, receiving financial support from the Export-Import Bank of Korea for the period of 2011-2013. We find that only 400(200) firms reserve IPs(patents) annually. Given that IPs are likely to concentrate on manufacturer industries such as electronic components, computers, video, sound and communication equipment manufacturing(KSIC 26), other machinery and equipment manufacturing(KSIC 29), manufacture of motor vehicles and trailers(KSIC 31). We also find that the total assets, sales and R&D expenses of IP holding companies greatly exceeds those of companies without IPs. In addition, IP holding companies' liquidity seems slight edge and the leverage ratio is somewhat lower. However, profitability ratios of IP holding companies are rather than harsh or similar level. 20~30% of IP holding firms show very week credit scores, implying that banks' default risk is expected to be significant.
Technology financing;Export-import based SME;Credit rating;Intellectual properties;Financial ratio
Supported by : Export-Import Bank of Korea
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