• Journal of Venture Innovation
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• v.7 no.1
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• pp.17-39
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• 2024

The purpose of this study was to analyze the effect of the government's R&D support and the use of stock options by venture companies on the innovation of venture companies, that is, innovation capabilities and innovation performance. An empirical analysis was conducted using the partial least squares structural equation modeling (PLS-SEM) method using the data from the detailed survey of venture companies conducted on domestic venture confirmation companies. As a result of the analysis, it was found that the benefit of government R&D support had a positive (+) effect on strengthening the innovation capabilities of venture companies, and R&D support also had a positive (+) effect on the innovation performance of venture companies. Next, it was found that the use of stock options by venture companies had a positive (+) effect on the reinforcement of the innovation capabilities of companies and a positive (+) effect on the innovation performance of venture companies. In addition, it was found that the innovation capabilities of venture companies significantly mediate between the government's R&D support and the use of stock options by venture companies and the innovation performance of companies. These analysis results show that the government's R&D support and the use of stock option systems can play a meaningful role in the innovation of venture companies, and also show that the innovation capabilities of venture companies have an important meaning in the process of innovation. Therefore, it is necessary to continue the stance of R&D support for ventures and at the same time to introduce multi-faceted policy measures to support corporate capacity building, and legal and institutional maintenance and policy support to revitalize the stock option system need to be continuously provided.

• Journal of Technology Innovation
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• v.29 no.3
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• pp.63-90
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• 2021

Today, venture companies are increasingly important in that they play a key role in national economic growth. However, ICT venture companies are having great difficulties in securing a sustainable competitive advantage due to rapid environmental changes, and as one of the ways to solve this problem, they rely on the government's support policy. Accordingly, this study analyzed the effect of government support on management performance of ICT venture companies. For empirical analysis, the data from the 2016 ICT venture panel survey was collected, and 687 and 538 companies were selected to analyze the effect of funding and R&D support, respectively. Then, through propensity score matching, companies that received government support and companies with similar characteristics (control group) were compared and analyzed. As a result of the analysis, it was found that funding support had a significant effect on the growth potential of ICT venture companies, and R&D support had a significant effect on the stability of ICT venture companies. This means that there is a difference in management performance of ICT venture companies depending on the type of government support. Through this study, it was possible to confirm the effect of government's policies, and various support policies for specific purposes should be pursued to foster ICT venture companies. In addition, for the continued growth of ICT venture companies in the future, it will be necessary to consider package (technology, management, commercialization, etc.) support rather than individual funding support or R&D support.

• Management & Information Systems Review
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• v.12
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• pp.227-245
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• 2003

In this paper, it is indicated that, currently, foundation of small and medium businesses is generally increasing in number, but the establishment of manufacturing companies is very slow. This is because of many factors interfering with promotion of the opening of small and medium businesses such as endless bakruptcies of the businesses and uncertain perspective. Therefore, it will be expected to encourage people to start business and activate establishment of small and medium sized manufacturing companies by improving tax support systems and providing tax support information services for founed companies and foundation supporting companies.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.46 no.2
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• pp.143-151
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• 2023

Expanding exports of small and medium-sized companies is crucial for the continuous growth of the Korean economy. Therefore, the government operates various support systems to enhance the export capabilities of these companies. This study aims to analyze the impact of the Korean government's flagship export support system, known as the export initiation support system, on the performance of participating domestic companies. A fixed effect model using panel data was applied to examine the characteristics of 11,099 companies that participated in the export initiation support system from 2016 to 2019. The analysis revealed that the number of exporting countries, employees, and previous export volume had a significant impact on the export amount of participating companies. However, contrary to expectations, the number of overseas marketing participation and the GCL (global competence level) test did not show a significant impact. This study is significant as it provides implications for the development of support projects tailored to the specific needs of small and medium-sized companies, with the goal of improving the export support system.

• Asia-Pacific Journal of Business
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• v.12 no.3
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• pp.281-294
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• 2021

Purpose - The purpose of this study was verifying the policy effects by field of innovative growth engines, focusing on the discussion of the relationship between government support and corporate R&D activities (substitute/complementary goods), and based on the results, policy recommendations for promoting private R&D were carried out. Design/methodology/approach - Through literature research, academic/theoretical discussions about relationship between government support and corporate R&D activities were synthesized. Next, survey data were collected for companies engaged in the field of innovative growth engines and empirical analysis was conducted on the relationship between government support and R&D activities in 13 major sectors. Findings - First, as a result of analyzing all companies regardless of sector, government R&D subsidies had a positive (+) relationship with R&D activities of companies engaged in innovative growth engines, that is, a complementary relationship. Next, as a result of performing empirical analysis by dividing the 13 fields, it was found that 9 fields were complementary goods in which government support had a positive (+) effect on the R&D activities of companies. On the other hand, in the remaining four fields, the effect of government support on corporate R&D activities was not statistically significant. Research implications or Originality - In order to promote R&D activities of companies in the 9 fields where government support acts as a complementary product, it is necessary to establish policies centered on direct government support. On the other hand, it would be more desirable to seek indirect support rather than direct support in the 4 fields where government support did not have a statistically significant effect on corporate R&D activities.

• Journal of Korea Society of Digital Industry and Information Management
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• v.6 no.2
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• pp.247-254
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• 2010

In this paper, I propose the modular support of IT small companies that assigns specialist on each module and create the module corresponding to R&D processes to small companies in order to support technical difficulties arising in a R&D process of IT small companies. The number of applied target companies is 149 IT small companies and altogether 45 specialist who had supported 10 modules. As a result of observing for two years, I identified that the system helps the technical difficulties.

• Journal of Distribution Science
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• v.13 no.6
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• pp.71-78
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• 2015

Purpose - This study attempts to analyze whether or not there are characteristics among the top management of companies that promote corporate performance at venture companies. It investigates the characteristics of the human and social capital that are inherent in top management at a venture company and conducts an empirical analysis of hypotheses examining if these characteristics will affect utilization of the governmental R&D support system as well as affect the firm's initial success. Research design, data, and methodology - This study conducted theoretical and empirical research together to accomplish the goal of the study. The pilot study researched human capital and social capital as the independent variables; the governmental R&D support system as the parameter; and, the initial success as the dependent variable. The empirical study carried out research on the model, establishment of hypotheses, and the statistical treatment. A survey was conducted targeting top management of high-tech venture companies in Daedeok Innopolis; 500 questionnaires were distributed; and, 222 were collected. Results - The human and social capital inherent in top management at venture companies in the early stages of their existence become good evaluation data for those who are invested in similar resources. If top management includes strong human and social capital, access to external resources will be easier; these will have a positive influence on the selection of overnmental support systems; and, this proper support will also have a positive influence on the initial success of the venture company. The results revealed the following. First, it was found that when the educational level and functional background, (the top management human capital), are the output function, top management human capital had a significant influence on selection of governmental R&D support funds. Second, it was found that the internal social capital and external social capital, (the top management social capital), had a significant influence on selection of governmental R&D support tasks. Third, it was found that selection of the governmental R&D support tasks at the start of the venture company had a positive influence on the corporate financial performance such as sales, business profits, and the increase in workers; and, had a significant influence on nonfinancial performance such as market share, competitive position, product competitiveness, and the future product development. Conclusions - Selection of the governmental R&D support system is not recognized as part of the direct sales of a venture company in its early stages, but as it can reduce costs for technical development and helps significantly in creating test products and mass production, it has a positive influence on the company's financial performance and nonfinancial performance as a result. Therefore, companies should take great efforts to frequently be selected as a candidate in the governmental R&D support system, as it can help facilitate R&D that requires extensive funds. As a result, companies can expect effects such as job creation and patent applications and they can advance future product sales.

• Journal of Digital Convergence
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• v.10 no.9
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• pp.39-45
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• 2012

The technological innovation of IT manufacturing firms is the competitive tool for them to survive in the environment of an intensive competition. This technological innovation is critical in the survival of IT companies, but various factors should be considered to embody technological innovation effect. This paper aims to identify the determinant factors of the outcome which influence the technological innovation based on the IT companies, and set up a model for measuring technological innovation effect. A hypothesis was established for the impact relation between technological innovation effect, cooperative relation and government support level, which was verified through the structural equation model(SEM). As a result, the cooperation of IT companies and the governmental support affect the effectiveness of technological innovation. Eventually, government support for IT manufacturing firms derive business collaboration and continuous support is needed.

• Journal of Digital Convergence
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• v.6 no.4
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• pp.137-145
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• 2008

Embedded industry has emerged as one of the important industry for u-IT based application service. Technology development related to embedded hardware and software provides the base for the development of U-IT convergence industry. This study intends to suggest a research model to investigate the influence of industry, organization, technology factors on technology performance in the embedded companies. This study adopted research variables such as global network, local network, industry intensity, and technology capability as independent variables, with technology performance as a dependent variable from the existing literatures. The purpose of this study is to analyze the influence of industrial and organizational factors on technology performance of embedded companies SCM systems, including the moderating effect of government support. 94 companies data were collected by survey. The result of this empirical study is summarized as follows. First, local network and technology capability are the important determinants to influence technology performance of embedded companies in direct effect model. Second, global network and industry intensity has more positive influence on technology performance of embedded companies through a moderating variable of government support.

• Plant Journal
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• v.5 no.2
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• pp.50-55
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• 2009

Promoting policy to involve plant EPC companies for package deal has been studied to acquire overseas energy resources. The effectiveness of the package deal with the plant EPC companies has not been successful because the participation of the plant EPC companies is very rare. It is difficult for the plant EPC companies to join the package deal due to the lack of the fully responsible organization to support the plant EPC companies participating in a package deal. The followings are suggested as the ways to promote the participation of the plant EPC companies for package deal in this study; 1) financial support of the government for plant EPC companies 2) political support of the government for plant EPC companies 3) specialization of the advanced countries for public-private cooperation.