• 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.

• Journal of Digital Convergence
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• v.14 no.8
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• pp.47-56
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• 2016

This study is on the actual analysis of R&D investment effect through DEA in terms of efficiency resulted from forestry sector climate change response R&D project. Namely, it is clarifying the mechanism of the scientific, technological, social performance result and output, depending on research development cost, employment size as same input. Also, it is in-depth analysis on which performance operates more efficiently in any detailed business. With the study result, we seek political implications to enhance investment effect and core element to consider R&D business project in the future.

• Journal of Information Technology Applications and Management
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• v.21 no.4_spc
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• pp.345-359
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• 2014

Technological, policy and economic factors are both important variables in maximizing the results of a national R&D program and key indicators in evaluating an R&D program's eligibility for financial support. Economic analysis, in particular, is used when selecting R&D programs, setting priorities, and estimating economic effects. This paper examines a series of methodological issues related to the economic analysis of national R&D programs within the framework of the current preliminary feasibility evaluation system, and proposes alternative approaches to each of the issues discussed. The issues include the definition of R&D valuation and establishment of valuation factors; estimation of sales attributable to R&D investment; assessment of the total economic value of R&D as intellectual assets; estimation of R&D benefits and assumption of related to sales; and the application of discount rates based on the weighted average cost of capital. Finally, this study presents directions for future research on analytical procedures and methods of improving the reliability of the results of economic analysis within the national technology planning system.

• Journal of Technology Innovation
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• v.22 no.4
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• pp.165-198
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• 2014

The national R&D performance evaluation system in Korea has been influenced by 'New Public Management' since the 1980s. The 1997 IMF crisis in Korea has necessitated the overhaul of S&T policy strategies in Korea. Reflecting this, effective distribution and utilization of S&T investment and resources has emerged as a crucial policy agenda, while expansionary investment in S&T maintained. During the period of 1999-2005, the R&D evaluation has been more focused on the input side and execution processes than on the results of R&D. Evaluation results were to be reflected in the budgeting of national R&D, but there were some disputes over how to make use of evaluation results between the budgeting ministry and the evaluation agency partly because they were two separate entities. After the advent of the new government(1998-2003) which advocated 'science and technology-oriented society', the national R&D evaluation system has evolved through a new legislation, the Performance Assessment Act, and the establishment of Science & Technology Innovation Agency to build up the unique framework for national R&D evaluation differentiated from the assessment system for general government investment programs. Most recently, due to 'Comprehensive Improvement Plan' in 2013, various components of national R&D evaluation seem to move on a new evolutionary track. For example, different types of evaluation are being developed and tried in accordance with differing evaluation goals, and the individual ministries and the research councils has got more enhanced autonomy and responsibility regarding R&D evaluation. So-called 'tailored' evaluation methods, taking into consideration the characteristics of programs and institutes / organizations to be evaluated, are now being tried. Competences of evaluation experts and agencies has also to be improved and strengthened.

• The Journal of Korean Institute of Communications and Information Sciences
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• v.31 no.2B
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• pp.154-163
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• 2006

The importance of R & D investment has dramatically been increased as industrial paradigm rapidly changes to knowledge-based economy. In order to preserve recent economic growth and reinforce competitive advantage, government policy and regulatory framework needs to be reshaped in ways that minimize the distorted use of limited resources and maximize the efficiency of R & D investment. In this regards, this paper aims to investigate the influence of R & D investment in national economic growth and to compare the effectiveness of IT R & D investment with other industries, in respect to the time lag.

• Journal of Technology Innovation
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• v.7 no.2
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• pp.1-20
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• 1999

This paper investigates the effects of various R&D investments on economic growth empirically. To this end, the relationships between various R&D investments and economic growth are analysed, and the rates of return of R&D investments are estimated. Furthermore, the effect of government R&D investment on private sector R&D investment, and the effect of social factors, which affect the relationship between the R&D inputs and economic growth, are analysed. Based on the results of this analysis, a simulation model is developed, which shows the relationship between R&D investments and economic growth rate; this model is verified by analysing the correlation between the actual and the estimated economic growth rate, using the data between 1981 and 1995 of eight selected countries. The validation results show that the simulation model has sufficient accuracy to be used for evaluating and proposing R&D policies for the countries for which appropriate data is available. However, the time-lag effect, which is naturally believed to exist between the R&D input and the economic growth, could not be analysed in a mathematical form, because of the lack of the data to establish this relationship. Thus, when estimating the relationship between them, the time-lag effect in this relationship was included implicitly by using the data of fifteen years.

• Korean small business review
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• v.42 no.4
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• pp.147-172
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• 2020

This study presents the determinants of R&D efficiency as the focus on CEO's competency, which influences R&D competency and R&D efficiency. The research samples are 6,708 technology-innovation small and medium-sized enterprises (SMEs). The independent variable is the R&D competency(existence of R&D organization, level of R&D personnel, R&D personnel management, R&D investment), the dependent variable is R&D efficiency. The moderator is the CEO's competency(experience level in its own industry, technical knowledge level, technology management strategy, management ability). R&D efficiency measures the relationship between inputs(level of R&D personnel, R&D investment) and outputs(patent applications, prototype) by the DEA. and the determinant analysis uses Tobit regression. As a result of the analysis, the existence of R&D organization and R&D personnel management is positively significant, level of R&D personnel and R&D investment is negatively significant for R&D efficiency. The moderating effect of CEO's competency on the relationship between the R&D competency and R&D efficiency is significant determinants of CEO's experience(experience level in its own industry, technical knowledge level) and technology management strategy. The finding is to measure the efficiency of R&D performance, and to analyze its determinants as the moderating effect of CEO's competency, using the technology appraisal data. In the conclusion session, the limitations of the research and future research directions were discussed.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.12 no.12
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• pp.5558-5563
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• 2011

Using longitudinal data of 108 firms in large business conglomerates from 2001 to 2009, this study examines the impact of controlling shareholders' control-ownership disparity on R&D investment. The study finds that control-ownership disparity is negatively related to R&D intensity. This empirical result suggests that controlling shareholders' control rights in excess of ownership rights incent controlling shareholders' expropriation for their private interests, leading to decreased R&D investment which enhances firm value in the long term.

• Journal of Service Research and Studies
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• v.13 no.1
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• pp.144-158
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• 2023

R&D (Research and Development) investment by companies and the government continues to increase, and the total R&D expenditure of public and private sectors in 2021 reached KRW 102 trillion, and the ratio of R&D investment to GDP was 4.96%. It ranks second in the world after Israel. This study analyzes the current status of the domestic R&D service industry and the research and development (R&D) innovation ecosystem based on the business activity survey data of the National Statistical Office in terms of improving R&D productivity of domestic R&D investment that has exceeded 100 trillion won, and analyzes the global R&D service industry and analyzes the global research service industry and R&D service Industry support government policy As a result of the analysis, in the domestic R&D ecosystem, the R&D outsourcing demand of service companies is rapidly increasing, compared to the stagnant R&D outsourcing demand of traditional manufacturing companies. In order to respond to these changing demands for technological innovation, this study suggests balanced support for R&D outsourcing for manufacturing and service companies, expansion of domestic R&D outsourcing, establishment of R&D outsourcing strategies specialized for the service industry, establishment of an open R&D ecosystem, and innovation in connection with materials/parts/equipment strategies.

• Management & Information Systems Review
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• v.34 no.3
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• pp.179-196
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• 2015

The purpose of this study is to examine the influence of variable cash compensation depending on short-term performances instead of stock compensation for the executives on the investment in tangible assets, investment and R&D, and profit reconciliation. The detailed objectives of the study include, first, to examine the influence of the cash compensation on investment in tangible assets and profit reconciliation depending on the characteristics of the company and, second, to examine the influence of cash compensation on the profit reconciliation of the investment in R&D depending on the characteristics of the company. The results of the analysis in this study can be summarized as follows; Firstly, the result of the positive analysis, as the compensation for the executives increased, by the characteristics of the companies conducted on the significant 'positive' (+) on the investment in R&D and the profits reconciliation showed that the high tech industry and the share ratio of the executives did not show a significant result, while the debt ratio showed a significantly positive result. Secondly, the result of the positive analysis, as the compensation for the executives increased, by the characteristics of the companieson the significant 'positive' (+) of the investment in tangible assets and reconciliation of profits showed that the high-tech industry did not show a significant result, while the hypothesis on the share ratio of the executives and the hypothesis on the debt ratio showed results that are significantly positive as expected. In other words, it can help Korean companies, which have to investment in R&D and tangible assets to increase their competitiveness and promote future growth dynamics, to design a manager compensation system that is appropriate for our country to support efficient investment decision-making.