기술사업화 역량이 특허 품질에 대한 외국인 투자자 반응에 미치는 영향

The firm's patents can enhance corporate value if the possibility of exclusive profits increases by producing and selling products and services through technology commercialization. This study analyzed whether technology commercialization capabilities has an incremental effect on foreign investor response to patent quality. For the variables of technology commercialization capability, the firm size, which means the level of human and material resources and information resources, and the return on equity (ROE), which represents the firm's management capabilities were used. The interaction variable between technology commercialization capabilities and patent quality was used as an independent variable and multiple regression analysis was performed. As a result of the analysis, the interaction variable between firm size and patent quality had a significant positive (+) correlation with the foreign ownership ratio. The interaction variable between return on equity (ROE) and patent quality also showed a significant positive (+) correlation with foreign ownership. In other words, it was suggested that the technology commercialization capabilities plays a role in incrementally and positively affecting the response of foreign investors to patent quality. This study provides a suggestion that firms with high-quality patents are more preferred by foreign investors who face information asymmetry problems by increasing their confidence in the possibility of exclusive profits when they secure technology commercialization capabilities.