• Journal of Technology Innovation
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• v.29 no.3
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• pp.33-62
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• 2021

This study compares and analyzes the efficiency of R&D activities of technology-innovative small and medium-sized enterprises(SMEs) between industries and proposes ways to improve efficiency. The research samples are 6,708 technology-innovative SMEs, which have received a guarantee by the KIBO from 2008 to 2011. Input variables are the level of R&D personnel, R&D investment, and output variables are patent applications, prototype. Efficiency is measured by the DEA model, and indirect comparisons that are individually measured by industry are performed. As a result of the analysis, the CCR for determining the optimal returns to scale is 0.19, the BCC for determining the optimal input distribution is 0.70, and the SE for determining the optimal output is 0.30. By industry type, the medium and low-tech industries have high CCR and BCC, while the high-end and high-tech industries have high SE. R&D activities need to be operated on an optimal scale through managing R&D performance because there is the inefficiency of scale across the industry. The contribution of the study is to analyze the R&D efficiency of each industry of technology-innovative SMEs by the technology evaluation data of the KIBO.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.20 no.3
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• pp.291-297
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• 2019

The world's leading industrialized nations are improving their national science and technology capacity through the continuous expansion of national R&D investment and the improvement of performance in accordance with the trend of the fourth industrial revolution. As rapid technological development following technological convergence necessitates a preemptive response to a new paradigm, the importance of securing high technology that affects the national competitiveness is increasing day by day. Core technologies and future new technologies that affect national competitiveness can be seen as a measure to upgrade the nation's innovative capabilities. In particular, the core technologies and future new technologies to prepare for changes in a security environment and future battlefields are very important in the defense sector that develops weapons systems. In the defense sector, the core technologies based on the military weapons systems are identified, and future new technologies that use the best technologies of the private sector for national defense, not on the needs of develops weapons systems, are derived. This study examined the characteristics of core technology and future new technology of defense ground unmanned systems, conducted a comparative study through empirical analysis, and concluded that strategic technology planning and research and development are needed according to the core technology and future new technology characteristics.

• Journal of Korea Technology Innovation Society
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• v.22 no.2
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• pp.207-219
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• 2019

The international trends in activities of government R&D performance measurement is evolving into evidence-based approach to support the verification of objective policy implementation. The European Commission has been implementing KETs (Key Enabling Technologies) policy that incubates nanotech based emerging technologies to support the fourth industrial revolution/revitalization of high-tech manufacturing, and resulting innovations are quantified by KETs Observatory project. The European Commission also built Innovation Radar system that monitors potentially innovative projects within FP7 and Horizon2020 by data analysis. The United States is also upgrading its Federal RePORTER system to quantitatively monitor federal R&D investments with outcomes (including nanotechnology). In the field of Korean nanotechnology, basic statistical data by analyzing NTIS (National Science & Technology Information Service) information is applied in policy field. Developing innovation measurement methodology beyond basic statistical analysis is an international policy issue, and a long-term R&D investment area of a government. The objective of this model study is to quantify the innovation potential of nano R&D investments conducted by Korea government, using input-output based efficiency measurement model and NTIS (National Science & Technology Information Service) that is comprehensive data portal for national R&D investments/outcomes including nanotechnology.

• The Journal of the Institute of Internet, Broadcasting and Communication
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• v.19 no.2
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• pp.187-192
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• 2019

Hybrid power storage system with emergency power function for demand management and power outage minimizes the investment cost in the building of buildings and factories requiring emergency power generation facilities, We propose a new business model by developing technology that can secure economical efficiency by reducing power cost at all times. Normally, system power is supplied to load through STS (Static Transfer Switch), and PCS is connected to system in parallel to perform demand management. In order to efficiently operate the electric power through demand forecasting, the EMS issues a charge / discharge command to the ESS as a PMS (Power Management System), and the PMS transmits the command to the PCS controller to operate the system. During the power outage, the STS is rapidly disengaged from the system, and the PCS becomes an independent power supply and can supply constant voltage / constant frequency power to the load side. Therefore, it is possible to secure reliability through verification of actual system linkage and independent operation performance of hybrid ESS, By enabling low-carbon green growth technology to operate in conjunction with an efficient grid, it is possible to improve irregular power quality and contribute to peak load by generating renewable energy through ESS linkage. In addition, the ESS is replacing the frequency follow-up reserve, which is currently under the charge of coal-fired power generation, and thus it is anticipated that the operation cost of the LNG generator with high fuel cost can be reduced.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.22 no.1
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• pp.188-196
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• 2021

Korea has invested heavily in projects related to national rivers, but there is no evaluation technique and system to manage river projects that can evaluate the effectiveness of the river projects after they are completed. Their absence leads to the inability of information on river construction sections, analysis of project effects, and benchmarking between projects. This may cause over-budget, overlapping investment problems due to the implementation of similar projects in the same section, and incorrect business elements may be repeatedly utilized. In order to solve this shortcoming, this study developed river project evaluation techniques and a river project (construction) management system. The development of evaluation techniques enables comparison and analysis between projects and can be utilized in establishing maintenance plans. The system can also provide inquiry of construction information, visualization of construction, and management of performance items. In this study, the evaluation techniques developed through prior research were modified and supplemented, and the effectiveness was verified by applying them to national river projects in A river and B river. It is expected that the evaluation techniques and system utilization measures presented will increase the work efficiency of river projects and enhance the efficiency of river projects.

• International Area Studies Review
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• v.21 no.1
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• pp.221-243
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• 2017

In this study, I examine overall conditions and problems of personal asset management processes by the old age people in Korea from the global perspectives. Major recommended policy implications for those are as follows.. First, the IRR (income replacement ratio) of public pensions in Korea is found to rank nearly the lowest among the OECD member countries. The relatively low fund performance compared to that of developed countries as well as this low IRR can be pointed out as major problems of public pension in Korea. It is recommended to reinforce specialty in fund management as a top priority to solve out these problems related with public pensions in Korea. Second, it is needed to set retirement pensions to be mandatory for almost all the firms in Korea to substitute for the above lower IRR of public pensions and to recover from the highest elderly poverty ratio among the OECD countries. Third, it is required to discuss about the expansion of tax refund policy application in the individual pension sector and many financial investment products under the correction of current budget control to motivate voluntary subscription for individual pension planning and to stabilize elderly lives of ordinary people in Korea. Fourth, it is required to induce market mechanism in controling price and longevity risk of reverse mortgages for the long-run sustainability.

• Knowledge Management Research
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• v.22 no.2
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• pp.247-268
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• 2021

Investors mainly use PER and PBR among financial ratios for valuation and investment decision-making. I conduct an analysis of two basic financial ratios from a statistical perspective. Financial ratios contain key accounting numbers which reflect firm fundamentals and are useful for valuation or risk analysis such as enterprise credit evaluation and default prediction. The distribution of financial data tends to be extremely heavy-tailed, and PER and PBR show exceedingly high level of kurtosis and their extreme cases often contain significant information on financial risk. In this respect, Extreme Value Theory is required to fit its right tail more precisely. I introduce not only GPD but exGPD. GPD is conventionally preferred model in Extreme Value Theory and exGPD is log-transformed distribution of GPD. exGPD has recently proposed as an alternative of GPD(Lee and Kim, 2019). First, I conduct a simulation for comparing performances of the two distributions using the goodness of fit measures and the estimation of 90-99% percentiles. I also conduct an empirical analysis of Information Technology firms in Korea. Finally, exGPD shows better performance especially for PBR, suggesting that exGPD could be an alternative for GPD for the analysis of financial ratios.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.1
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• pp.21-35
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• 2021

Based on social capital theory, this study investigated the influence of the start-up founder's social competence on the start-up's access to funding sources and performance through the mediating role of the type of social network. This study aimed to examine two types of social networks empirically (i.e., personal networks and business networks) as social capital in analyzing the effect of the founder's social competence and social capital on the method of accessing funding sources. A self-report questionnaire was administered to 252 South Korean start-up founders whose businesses are based in South Korea. Path analysis and mediation effect analysis were performed by structural equation modeling(SEM) using STATA 16.1. This study examined the full mediating effect of the founder's social competence on his/her personal and business networks, respectively, and how the effect leads to different methods to approach funding sources. This is the first study in South Korea to analyze empirically how social competence has contrasting effects on personal and business networks as well as how each type of network varies in its influence on the method founders use to attract investment. This study is also significant in that it proposed a new methodology by utilizing the position generator as the measure of personal and business networks to analyze social networks in detail. The analyses of 252 survey data collected over a period of six months will be a valuable resource that may provide researchers, founders, investors, and other stakeholders in the start-up ecosystem with meaningful implications.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.22 no.2
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• pp.212-220
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• 2021

National R&D investment has steadily increased, reaching number 5 in the world as of 2018. However, for public technology commercialization, the level of discovery of policy models through various cooperation initiatives between government ministries is insufficient, and the performance system that can spread technology commercialization is also limited. In this respect, in order to create results in public technology commercialization, it is necessary to prepare alternatives to strengthen multi-ministerial policy cooperation and increase policy execution power. In this paper, we analyzed the current state of national R&D projects by major ministries and suggested an optimized technology commercialization plan through analysis of the structure, budget, and form of each project. In particular, an alternative in terms of policy efficiency was suggested by analyzing the problems of policy discovery that have not been studied previously. This study is of great significance in that it diagnosed problems of public technology commercialization in terms of the lack of systematic research on public technology commercialization and suggested policy advancement for the spread of technology use and the strategic direction in terms of commercialization.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.22 no.2
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• pp.602-609
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• 2021

Under accrual basic accounting, financial statements may be less reliable compared to cash basis accounting. The purpose of this study is to conduct an empirical analysis to determine the possibility of profit adjustment through the increase and decrease of deferred tax accounts. For our empirical analysis, a dummy variable of '1' was used as a dependent variable when the deferred tax net assets increased from the previous year and '0' when the deferred tax net assets decreased. Meanwhile, the variables of interest were discretionary accruals and ROA variation compared to the previous year. Logistic regression analysis was performed to establish the relevance between variables. Results found larger discretionary accruals related to lower net deferred tax assets compared to the previous year. In addition, there was a correlation between ROA and net deferred tax assets only if the ROA increased and net profit was greater than '0'. Study results will enable deferred tax information to be used in investment decision-making, and supervisory institutions can establish policies to prevent profit adjustments and enhance reporting standards.