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KOEMA 소식

Korea Electrical Manufacturers Association
- NEWSLETTER 전기공업
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- no.99-3 s.220
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- pp.2-6
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- 1999
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게시판

Korea Electronics Association
- Journal of Korean Electronics
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- v.22 no.3
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- pp.56-68
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- 2002
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An Empirical Analysis of the Effectiveness of Financial Support Policy for Venture Firms in Daejeon Region (대전지역 벤처기업 자금지원 효과 실증 분석)

Bai, Yun;Kim, Taegi;Li, Yancheng;Oh, Keunyeob
- Asia-Pacific Journal of Business Venturing and Entrepreneurship
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- v.19 no.3
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- pp.81-95
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- 2024
This study empirically analyzed the effectiveness of government financial support policies for venture enterprises in the Daejeon region, using raw data obtained from the Small and Medium Venture Business Administration's survey results from 2016 to 2021. Daejeon, considering its economic significance, has a significant proportion of venture enterprises in its economy compared to the national average, with a focus on technological development. Conducting regression analysis yielded several key findings. Firstly, loan and guarantee support is effective for improving sales and market share, while R&D support is effective for technological development. Second, R&D and loan support have the most significant impact on sales in the fourth stage (maturity), while guarantee support is most influential in the third stage. Third, in industry analysis, the coefficients representing the effects of financial support were larger across all performance indicators compared to firm level data analysis. Based on these empirical analysis results, the study proposes several policy implications as follows. First, the government should actively provide funding support to venture companies rather than leaving investments to the capital market. Second, the methods and targets of funding support should vary according to the purpose of the support. Third, it is necessary to establish a platform that connects venture companies with private investors to commercialize developed technologies. Fourth, the funding support of venture capital for technology-intensive venture companies should be expanded.
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