정부의 중소기업에 대한 연구개발투자 효과: 대기업과의 비교분석을 통하여

This study is intended to demonstrate how different factors induce theKorean government's direct investment in research and development according to thetype of business enterprise in Korea. We analyzed that what factors made thegovernment directly invest in research and development by using a total of 18,272company panel data, which are not limited to specific industries or government-ledresearch and development (R&D) programs. The results showed that the direct investment for R&D by the government led to theincrease in the number of researchers in SMEs. For major companies, the directinvestment resulted in the increase of sales and company's own R&D expenses. Moreover, this study found that government's direct support for R&D even led to thedecrease of SMEs' own R&D expenses; however, this result was not statisticallysignificant. In addition, the most significant factor to increase both SMEs' and majorcompany's own R&D expenses was the sales amount of the company, rather thangovernment's direct investment for R&D. The factor that increases sales was thecompany's own R&D expenses, rather than government's direct investment for R&D. Through the analysis using Mixed Effects Model, this study suggested the policy shouldbe changed to make SMEs invest in its own R&D expenses, rather than to secureresearchers of SMEs by government's direct investment for R&D.