• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.10 no.1
• /
• pp.200-208
• /
• 2009

Trend of R&D expenditure in Korea during the last 10 years, the R&D expenditure has been constantly increasing at an average rate of 10%. The government R&D ekpenditures or subsidies are increasing rapidly But the studies of evaluating impact of government R&D subsidies are few. This study attempts to empirically investigate the effects of government R&D subsidies on private firm's R&D investment in Korean industry by using Propensity score matching method which sign as to whether the relationship between government subsidies and private R&D investments is on stimulating or displacing private R&D expenditures. Empirically, a firm with government R&D subsidy are 733 million dollar more expenditure then don't receive any government R&D funding. Also Government R&D subsidies greatly increase (statistically significant) company financed R&D expenditures only for large firms but had no effect on the R&D expenditures of small & medium sized firms and venture firms.

• IE interfaces
• /
• v.5 no.1
• /
• pp.61-74
• /
• 1992

Recognizing the lack of empirical studies on the returns to R & D investment in Korean firms, this paper analyzes the relationships between R & D investment and corporate performances measured by sales growth rate, profit rate and PER. The data used here are from 167 firms in 8 different industries covering the period from 1985 to 1989. The results show that the profit rate is strongly correlated with R & D investment. But unlike the results of most studies previously done in the U.S., R & D investment only weakly and insignificantly correlated with sales growth and PER.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.15 no.2
• /
• pp.698-705
• /
• 2014

R&D investment has rised in recent years. Korea's R&D budget is 43.8 trillion won which is 3.74% adjusted gross domestic product in 2010. Technological advances and technical inovation will bring productivity growth to Firm and Firm's productivity growth will increase GDP in sequence. Therefore the importance of study on the Firm's R&D industry is getting growing. In this study we attempt to analyse the economic impact of the Firm's R&D industry through several years using an inter-industry analysis. Specifically, this study analyze production-inducing effect, value added inducing effect, and employ-inducing effect based on demand-driven model. The analysed results of year from 1995 to 2009, the Firm's R&D investment increases production-inducing effect, value added inducing effect, and employ-inducing effect with the course of time. This means that influence of the Firm's R&D industry has increased.

• The Journal of the Korea Contents Association
• /
• v.13 no.2
• /
• pp.390-399
• /
• 2013

The purpose of this study is to examine the impact of enterprise R&D investment on inter-industry technology spillover in Korea under the new Normal Era. In order to do this, we tested the effect of production inducement, backward and forward linkage effects, and the effect of technology spillover such as technology intensity effects and technology diffusion effects based on an input-output framework. The results show that the high index industries of the production inducement effect were professional, scientific and technical activities, manufacture of metal products, and general machinery. Some manufacturers of other non-metallic mineral products and transport equipment sectors appeared to have the strong effect of forward and backward linkages that were almost equivalent to high-tech manufacturing industries. In particular, the industries of professional, scientific and technical activities appeared to have the strong effect of both forward and backward linkages. Therefore, we need to drive a strong policy support to higher enterprise R&D investment in the those particular industries not only to increase global competitiveness, but also to widen up the technology spillover effect on other industries.

• Journal of Labour Economics
• /
• v.34 no.1
• /
• pp.33-69
• /
• 2011

This study analyses a productivity effect by E&T and R&D activities via estimation of E&T stock, R&D stock, and patent stock in a corporate level. Particularly, the analysis reflects the effects of skilled training after estimating E&T stock from E&T flow. When a spillover effect of E&T is analyzed, a methodology using technical proximity concept becomes a new experiment. Also classifying long and short term effects from the usage of Dynamic Panel Data Analysis becomes a new trial, too. The results of study appear that the productivity effects from E&T investments are relatively lager than R&D investments. Through spillover effects and long-term effects E&T and R&D activities have a strong influence on the corporate's productivity.

• The Journal of the Korea Contents Association
• /
• v.17 no.5
• /
• pp.8-17
• /
• 2017

Using 1855 observations from 5 years-371 firms panel data during 2010 to 2014 in Chinese stock exchanges, this study examines the impact of managers' ownership on R & D expenditures. The empirical study finds that when firms are state-owned, managers' ownership have negative relation with the level of R & D expenses as well as the likelihood of executing R & D investment, implying that managers are less likely to invest in high risky projects due to managerial ownership's entrenchment effects to pursue private benefits rather than alignment of interest effect as shareholders. The empirical study also finds that when firms are private-owned, managerial ownership are inverse U shaped related to the level of R & D expenses, implying that managers are less likely to invest in high risky projects due to increasing risk aversion resulting from concentration of private wealth at its high level while managers are more likely to invest in high risky projects due to increasing incentives as shareholders at its low level. The results support that the effects of managerial ownership on R & D expenses may be different according to the ownership type of Chinese listed firms.

• International Commerce and Information Review
• /
• v.16 no.5
• /
• pp.51-66
• /
• 2014

The relationship study between SMEs' R&D and business performance is important research subject. The objective of this paper is to evaluate whether the effectiveness of government's R&D subsidy for SMEs is supported. The positive perspective is that the support policy stimulates the SMEs innovation activities including R&D and thus contributes to the performance, but the negative view is that the support policy rather decreases the firm's own R&D investment and thus the result is not necessarily promising. This paper is to evaluate the effectiveness of government subsidy on SMEs' R&D. This study suggested DID and Random Effect Models for analysis using the panel data of 2,807 SMEs in manufacturing sector. The data was collected from the 'Survey on SMEs Technology & R&D 2011' conducted by Korea Federation of Small and Medium Business. The results are as follows. First, government's subsidy has crowded out 4.7% of beneficiary's internal R&D investment. Second, government's subsidy has increased 27.3% of beneficiary's R&D intensity in spite of 4.7% internal R&D investment reduction. Third, government's subsidy didn't have a relationship with firm performance but the R&D intensity made positive influence on the firm performance. Finally, R&D intensity has increased the 6.7% of firm performance. These results mean that government's subsidy give a positive impact on SMEs' performance through R&D intensity with relatively small crowding-out effect.

• The Journal of the Korea Contents Association
• /
• v.16 no.11
• /
• pp.321-329
• /
• 2016

The purpose of this study is to analyze the impact of R&D investment on productivity growth of the Korean Economy in the New Normal Era. To be specific, this study focuses on the impact of R&D capital, other capitals, and total factor productivity(TFP) on the labor productivity during the three periods: 1970-2014, 1970-1997, and 1999-2014. We found out that the change of the intensity in the R&D capital and other capitals significantly impacted on the change of the labor productivity in Korea. In particular, the estimated coefficients of these variables are higher after the period of the IMF financial crisis than before the crisis. We also estimated the marginal productivity of R&D capital investment in terms of the TFP growth. The estimated coefficients of the variables showed stronger effects after the period of the IMF financial crisis than before the crisis. As a result, the increase of R&D investment has been greatly impacted on the growth of the total factor productivity(TFP) after the IMF financial crisis in Korea.

• Journal of Korea Technology Innovation Society
• /
• v.18 no.2
• /
• pp.264-291
• /
• 2015

This research is to empirically analyze the effects of governmental policy including R&D subsidiary and tax reduction, which are both direct and indirect financial supports, during the examination period (2007~2009). The analysis was based on 2,751 firms that received governmental support via both R&D subsidiary and tax reduction with 7,038 panel events during the economic recession (2008~2009) and found that governmental support drives R&D investment of firms during the recession. The contribution of this research is that investigation of policy effectiveness categorized by firm sizes, particularly during the economic crisis. The result of the study is that during the recession, large firms had more elasticity increase towards tax reduction whereas smaller firms and ventures had it towards direct financial subsidiary. The elasticity increase of both large and small firms was in positive association with firms' R&D investment. The result indicates that government support obviously has positive influence on R&D investment of firms during the crisis, even enforcing the investment.

• Proceedings of the Korean Society of Disaster Information Conference
• /
• 2022.10a
• /
• pp.361-362
• /
• 2022

그동안 재난안전 연구개발은 2008년 제1차 재난안전 연구개발 종합계획 수립 이후, 지난 15년간('08~'22년) 21개 부처가 총 10조 7.372억원을 상회하는 R&D 투자성장을 이루어왔다. 연평균으로 보면 매년 25.3%의 성장세다. 과학·기술적 성과로 최근 4년간('18~'21) 연평균 논문 3,030건, 특허 1,745건으로 지난, 제2차 종합계획 기간대비('13~'17) 1.74배 증가를 하며, 양적·질적 성장에도 꾸준히 우상향하는 추세다. 더불어, 최근 4년간('18~'21) 연평균 기술료는 3,729백만원으로 제2차('13~'17) 종합계획 기간 대비 1.54배 증가하였으며, 사회적 성과는 전반적으로 매년 평균치를 유지하고 있다. 한편, 이러한 지속적인 정부투자 R&D 증가에도 불구하고 연구성과 및 실효성에 대해서는 상대적으로 미미하다는 시각이다. 본 연구에서는 행정안전부 출연금 연구개발사업을 대상으로 재난안전 연구개발의 투자현황 및 효과에 대해서 분석하였다. 또한, 연구개발사업 종료과제를 대상으로 한 추적조사 결과를 바탕으로 연구성과의 미흡한 원인을 일차적으로 분석하고, 실효적인 성과창출 전략에 대해 고찰하였다. 특히, 재난안전 연구개발 사업에 대한 지속가능한 성과이음과 사장(死藏)되는 핵심기술에 대한 성과 재발견을 통해 실용화까지 이어질 수 있는 전략적 추진방안에 대해 제언하고자 하였다.