공공 재정지원과 중소기업 R&D 투자 간 관계에 관한 연구 : 정책효과와 기업개방성의 조절 효과

The government steadily have been implemented fiscal policies to promote firm R&D activities. Empirical analyses have been accumulating to confirm policy effects, but conclusion is not clear-cut. Previous research has limitations in applying R&D investment without considering a volume government funding. Moreover, recent studies have expanded their discussion from analyzing the policy effects themselves to clarify the contextual factors affecting the effects. This study analyzes the effects of public subsidies on SMEs R&D investment considering total R&D and net R&D investment excluding government support, and demonstrates the moderating effect of firm openness. The results based on the survey on Technology of SMEs are as follows. First, public subsidies have a positive impact on SMEs R&D investment. Second, firm openness for innovation is positively moderate the relationship between policy support and SMEs R&D investment. This effect is particularly apparent for SMEs which priorities information from external organizations. These results justify a public subsidies to stimulate SMEs R&D activities. Furthermore, policy supports for SMEs that actively explore external knowledge and use deeply it for innovation, could be more effective.