• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.1
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• pp.185-195
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• 2020

This study is intended to determine that there is a casual relationship between technological innovation capability and new product development performance in small and mid-sized venture companies, and that the introduction of collaboration as a means to step up technological innovation capability will improve new product development performance. To achieve this, a survey was carried out to employees who are engaged in R&D work for small and mid-sized venture companies based in Korea, and the results were analyzed by regression analysis. The findings showed that technology strategy, technology learning and open innovation belonging to technological innovation capability in small and mid-sized venture companies had an effect on new product development performance. In other words, the selection of collaboration as a wider array of core strategies on new product development performance showed that collaboration was a strategy affecting new product development performance. In addition, the moderating role of technological innovation capability in boosting new product development performance through the introduction of collaboration showed that common collaboration had a positive effect on stepping up technology strategy, and collaboration as a core strategy had a positive effect on the size of new product development performance by strengthening technology strategy and open innovation.

• Journal of Technology Innovation
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• v.27 no.3
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• pp.27-52
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• 2019

This research studied the determinants of private R&D investment by examining the innovation strategies of 481 small and medium enterprises (SMEs, their employee size is 5 or more and less than 300) in Busan, South Korea. The data is derived from the Technology Survey of Small and Medium Enterprises in 2001 and 2003. Three explanatory variables for the innovation strategies are the R&D portfolio, the organization (personnel) for R&D, and the strategic role of CEO for innovation. The technological levels of industries are controlled in the linear regression model. The dependent variable is the total private R&D investment of a firm in the given fiscal year. The empirical results indicate that the private R&D investment positively correlates with the complexity of the R&D portfolio, the formal organization for R&D team, and the increase of R&D personnel. The formal organization for R&D team and the number of R&D personnel are correlated with the increase of private R&D investment across the four groups in the manufacturing sector but not in the service sector. These findings suggest that the innovation policy needs to target firms who have complex R&D portfolios, the formal organization of R&D teams, and sufficient R&D personnel in order to increase the private R&D investment of SMEs in regions, with consideration of industrial characteristics.

• Journal of Korea Technology Innovation Society
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• v.9 no.2
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• pp.350-372
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• 2006

The main purpose of this study is to investigate the technology related facts which determine the difference of the output of companies in the fields of IT and BT industries in Korean. The determining facts consist of the technology development strategy, the characteristic of R&D groups, and the ability of managing knowledge assets. Three kinds of regression model are made by using 3 determining facts from total model to IT and BT model to investigate the research purpose of this study. The technology development strategy consists of 2 sub facts, as technology innovation and product upgrade. The characteristic of R&D group consists of 2 sub facts, as the characteristic of task and the intensity of R&D group members. The ability of managing knowledge assets consist of 3 sub elements, as the ability of creating knowledge assets, the ability of holding in common knowledge assets, and the ability of developing the value of knowledge assets.

• Journal of Technology Innovation
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• v.3 no.1
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• pp.35-53
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• 1995

• Proceedings of the Technology Innovation Conference
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• 2001.06a
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• pp.117-130
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• 2001

R&D is the core competence of an enterprise. Furthermore, R&D requires huge capital investment and has very risky characteristics. Therefore, to be successful in R&D process, several approaches of engineering economics are used prior to decision-making. Until now, typical approaches of engineering economics such as NPV(net present value) or DCF(Discounted cash flow) have been used. But, they cannot properly capture managerial flexibility to adapt and revise later decisions in response to unexpected market development. In a constantly changing and always uncertain marketplace, managerial operation flexibility and strategic adaptability have become vital in order to successfully capitalize on favorable future investment opportunities and limit losses from adverse market development. For the alternatives of conventional static decision-making approaches, new concept of using real options is introduced. Real option theory is based on financial option's characteristics and checks every revision interval whether situation have changed favorable to decision maker or not. In advantageous situation, the decision maker has only to go on. In contrast, with unfavorable situation, he abandons the investment immediately. In this aspect, real option model is more suitable in very uncertain and dynamic business environment in that it can provide the opportunity to cope with flexibility. This paper suggests efficient and effective R&D investment strategy by using real options model. In addition, this paper compares financial options and real options.

• KEPCO Journal on Electric Power and Energy
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• v.3 no.1
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• pp.57-63
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• 2017

This study aimed at proposing a RD&D good practice policy guidelines for energy technology innovation in electric power industry, we identified the success factors on energy RD&D through representative case analysis such as energy RD&D demonstration project and strategy plan, technology road map, etc. Based on a successful case study, we have identified the key elements needed to suggest when setting a RD&D technology innovation policy framework for technological competitiveness in the power industry sector. We have presented guidelines for energy technology innovation direction from the full cycle perspective of RD&D. The energy RD&D innovation system that we have established is meaningful in that the implications are derived and reflected through the case analysis of developed countries. The results of this study are as follows; Enhancement of R&D investment performance, commercialization of research achievements, promotion of export industrialization of electric power industry, establishment of RD&D governance system of power energy, etc.

• Journal of Korea Technology Innovation Society
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• v.11 no.1
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• pp.118-143
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• 2008

This paper examines the effect of innovation strategy and R&D organization on the innovation performances in the Korean small and medium sized enterprises(SMEs). For the SMEs with limited resources and capabilities, the one of key strategic issues is to allocate innovation resources to the exploitation of existing technological capabilities and/or the exploration of new technological capabilities. Based upon survey data from 769 SMEs, this study investigated relationships among exploitation and exploration strategies, the existence of R&D organization, and innovation performance. Exploration is positively related to product and process innovation performances across the industrial sectors. However, exploitation is positively related only to the process innovation performance in the traditional manufacturing sectors. The existence of R&D organizations has positive effects on the product innovation performance and not on the process innovation performance. Finally, it discusses the managerial implications, the limitations of this study and the future research directions.

• Journal of Korea Technology Innovation Society
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• v.13 no.2
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• pp.365-378
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• 2010

For sustainable economic growth, the Korea government continues to increase its investment in R&D and at the same time, have reinforced the management of R&D outcomes and enlargement of its infrastructure for utilization. However, a strategic R&D planning that draws an outstanding outcomes is more important than the management of its post-outcomes. The purpose of this study is to propose an implication on the policy of R&D planning for obtaining a good R&D outcomes such as a high quality patent. We compared and analyzed the determinants of the patent quality in fuel cell and solar cell technology using the count data models. Estimated results showed that the determinants of the patent quality in technologies were different from each other. Therefore, having appropriate R&D planning strategies for all technologies was more effective than applying one same strategy for all because of technological differences, and based on the estimated results, we suggested the R&D planning strategy in fuel cell and solar cell technologies that could in result in high R&D outcomes.

• Asian Journal of Innovation and Policy
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• v.3 no.1
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• pp.94-116
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• 2014

The technological innovation is considered as an important factor and there is a positive externality in developing technology in the form of technology spillover. In this context, it is argued that government should play an active role in advancing technology development and several means have been introduced. This study attempts to analyze manufacturing firms' evaluation for the performance of government assistance programs to their R&D activities. Considering that the performance evaluation takes the form of a count outcome, we apply several kinds of count data models. Some interesting findings emerge from the analysis. For example, we found that a firm's sales amount, dummy for the firm's having an R&D department, dummy for the firm's being a venture one, and the number of the firm's innovative activities have positive relationships with the degree that the firm evaluates government assistance as being useful.

• Journal of Technology Innovation
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• v.18 no.1
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• pp.153-175
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• 2010

Firms must focus on innovative activities via R&D investment in order to secure competitive advantage and sustainable growth. However, their innovative activities do not always result in successful outcomes and are often obstructed by uncertainty and non-appropriability of technology being developed and by insufficient internal resources and capabilities to tap into it. In this situation, collaboration with external partners can be a part of good alternative strategy to solve those problems. This paper aims to analyze what factors lead to Korean manufacturing companies’ decision to collaborate with external partners for technology innovation. For empirical analysis, we used the Korean Innovation Data compiled by STEPI, government-funded research institute in Korea. The research findings are: 1) firms tend to participate in external collaboration for product innovation with greater firm size, more past collaboration experiences and when they belong to high-tech industries 2) unlike our expectation, our chosen ‘innovation-impeding’ factors are found not to contribute to the enhancement of collaboration for product innovation.