• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.10 no.3
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• pp.75-83
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• 2015

This article investigates the impact of SMEs' R&D expenditure, government R&D funding, the number of funded by Government R&D programs on the employment growth rate. This study also explores whether government R&D funding and the number of funded by Government R&D programs have interaction effects between SMEs' R&D expenditures and the employment growth rate. The results show that SMEs' R&D expenditure and government R&D funding have a positive effect on the employment growth rate. The rest of variables have no significant direct effects on the employment growth rate. The government R&D funding has a interaction effect between SMEs' R&D expenditures and the employment growth rate. Especially, the firm group of high-level innovation capabilities has a positive effect on the employment growth rate. The results explain that the government R&D funding influences SMEs' employment positively and the impact of the government R&D funding on employment is more effective in the firm group of high-level innovation capabilities. Therefore, Government provides differentiation strategy of R&D funding by innovation capabilities of SMEs and can maximize the employment.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.6
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• pp.39-50
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• 2022

Based on the signaling theory, this study examined whether startups are more likely to attract venture investment when receiving government R&D subsidies. First, we reviewed previous studies of the investment decision-making process of venture capitalists and understood the conditions that influence investment decisions. Based on previous studies on the signal effect of government subsidies, particularly government R&D grants, on inducing private fund investment, this study revealed a mechanism to induce venture investment by startups. In addition, in order to verify whether government R&D subsidies have the effect of inducing venture investment, an empirical analysis was conducted based on data from startups under seven years and certified as a venture companies in 2021. This paper used PSM(Propensity Score Matching) method and DID(Difference In Difference) analysis for an empirical study to analyze the average treatment effect on the treated group(beneficiary startups of government R&D grants). As a result of empirical analysis, companies that receive more government R&D subsidies after starting a business are more likely to attract venture investment. From two to three years after conducting the first government R&D project, startups that received government R&D grants attracted more venture investment than those that did not. The results of this paper demonstrate that government R&D projects can also affect the venture investment ecosystem, giving policy implications to government R&D projects targeting startups. It is also expected to suggest strategic implications to startups that need new funding.

• Journal of Technology Innovation
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• v.21 no.2
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• pp.137-167
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• 2013

This article estimates the scale of impact of expanding governmental fiscal expenditure for R&D investment on the private business enterprise's investment for R&D, and the relationship between business enterprise and university for expanding investment of R&D. According to my results, first, an expanding fiscal expenditure from government for R&D investment leads to increase R&D investment from business enterprise. However, an expanding expenditure from university rather leads to decrease R&D investment from business enterprise. Secondly, the crowding-out effect of expanding R&D investment from University on business enterprise's is very strong, and it is affected by structural changes such as the country's economic power, fiscal stance and cyclical volatility. Third, the more governmental expenditure on university expansive is, the stronger asymmetric relationship between business enterprise and university is, and investment sources of university from business enterprise is the main factor of this relationship. Finally, it is not easy to solve out this asymmetric relationship even through the governmental subsidy.

• Journal of Digital Convergence
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• v.8 no.2
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• pp.29-42
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• 2010

To improve the performance of R&D investments, government has taken great efforts for advancing the structure and process in R&D systems. However, due to the drastic internal/external changes in the technological environment and the steady increase of investment scale, the necessity for a innovative approach which accomplishes returns to scale through the utilization of various external resources is emerging. In this regard, open innovation approach can minimize the possibility of government failures by strengthening the absorptive capacity of external resources and enhancing the cooperation and participation of diverse innovative participants within the R&D system. This paper evaluates the previous researches and government policies concerning the performances of government R&D investments, and presents the connectivity between open innovation and its possible contribution to the improvement of R&D investment performances.

• 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.

• Proceedings of the Korea Technology Innovation Society Conference
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• 2017.11a
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• pp.1401-1413
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• 2017

신약개발은 많은 투자비와 시간이 필요하면서도 성공률이 낮아 위험성이 높은 분야로, 국내 제약 기업의 투자 역량과 인력이 부족하여 민간 R&D 투자만으로는 한계가 있다. 현재 바이오 분야 중 신약 분야에 가장 많은 정부 R&D 예산이 투입되고 있으나, 특정 단계가 아닌 신약 개발 단계 전주기에 걸쳐 지원하고 있기 때문에 투입 예산을 효율적으로 활용하여 성과를 창출하기 위해서는 투자 현황에 대한 분석이 필요하다. 본 연구에서는 정부 R&D 사업 중 신약개발 과제를 대상으로 신약개발 단계, 의약품 종류, 대상 질환을 기준으로 정부 R&D 투자 현황을 분석하고자 한다. 이는 향후 신약 분야의 경제적 성과 창출을 위한 정부의 투자 방향과 전략 수립에 활용 가능할 것이다.

• Proceedings of the Korea Technology Innovation Society Conference
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• 2017.11a
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• pp.159-169
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• 2017

정부는 R&D 재원의 전략적인 투자를 위해 199년에 국가과학기술위원회를 설치한 이후, R&D 예산 배분 조정을 지속적으로 추진하면서 개별 사업에 대한 예산조정 이전에 투자우선순위를 설정하였다. 그러나 그간의 투자우선순위 설정은 중장기 투자전략, 기본계획 등을 근거로 하기 때문에 중점적으로 투자해야 할 기술분야에 대해 정성적인 언급에만 머무를 수밖에 없고, 현재 연구트렌드를 반영하기 어려위 실제 R&D 예산 배분 시 구체적인 연계성이 부족한 실정이다. 이에 본 논문에서는 나노분야 R&D를 중심으로 키워드를 활용한 트렌드 분석을 통해 정부 R&D 예산 배분의 전략성을 제고할 수 있으며, 사업의 투자규모를 설정하는데 있어 투자우선순위와의 연관도를 높이는 방안을 제시하고자 한다.

• The Journal of the Korea Contents Association
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• v.16 no.10
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• pp.150-162
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• 2016

This study empirically analyze the effect of government R&D investment to find out whether it complements or substitutes for the firm R&D. In order to do it panel data set was constructed for the period of three years from 2012 to 2014 based on the number of 1301 data by utilizing national technology information service(NTIS) and publicly announced financial statement. Analysis was implemented in consideration of size of the firm(large corporation, small and medium sized firm) of which sample was obtained from only listed company. The result of two-way fixed effect model and two-way random effect model is as follows. In case of large corporation, government R&D investment has an effect of substitute for the company's R&D on the other hand, small and medium sized firm shows an complementary effect. It verifies that current R&D policy is appropriate. Therefore government's direct subsidy is expected to be successful to fertilize firm's innovation by allocating government R&D budget efficiently.

• Proceedings of the Korea Technology Innovation Society Conference
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• 2017.11a
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• pp.143-143
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• 2017

지난 50년간 정부의 기초연구 투자는 과학기술 경쟁력 배양 및 국가 선성장 동력을 확보하여 선진국으로 도약하기 위한 중요한 국가 전략 중 하나로 강조되어 왔다. 문재인 정부는 국정운영 5개년 계획을 통해 연구자 주도 기초연구지원을 강조하는 등 정부의 기초연구 투자확대 기조는 현 정부에서도 계속될 전망이다. 순수 기초연구비 2배 확대, 연구자 주도형 자유공모과제 비율 2배 확대 등의 기초연구분야 투자의 양적인 성장과 더불어 절적인 성장을 위한 체계적인 투자 전략이 필요한 시점이다. 이를 위해 기초연구 투자에 영향을 미치는 요인에 대한 연구가 선행될 팔요가 있다. 본 연구에서는 1999년부터 2016년까지의 정부R&D투자, 연구원 수, 물가, GDP 등의 요인의 상관관계 분석을 통해 각 요인이 정부 기초연구투자에 미치는 영향을 알아보고자 한다. 이는 향후 정부 R&D투자 전략의 수립에 활용될 수 있다.

• Proceedings of the Korea Technology Innovation Society Conference
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• 2013.10a
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• pp.547-569
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• 2013