기술투자 평가항목을 활용한 고성장 중소기업 판별: 매출액과 영업이익을 중심으로

This study defined the appraisal items of technology appraisal for investment as innovation characteristics and derived the determining factors for predicting high-growth companies. Through this, we presented a direction for improving the technology appraisal model for investment. High-growth companies were classified into high-growth companies in sales, high-growth companies in operating profit, and high-growth companies in both sales and operating profit. At this time, the concept of a gazelle company was applied and defined as a company with an average growth rate of 20% or more over three years after the appraisal year. As for the analysis results, in terms of technicality (appraisal items), it was significant in predicting high-growth companies in sales and high-growth companies in sales and operating profit. Therefore, it will be possible to increase the discrimination power of predictions by strengthening the technicality (appraisal items). On the other hand, the business feasibility (appraisal items) was significant in predicting high-growth companies in sales and high-growth companies in sales and operating profit, but in a negative direction. This is due to the composition and criteria of the business feasibility (appraisal items), and it was concluded that changes to the composition and criteria for the relevant items are necessary for future model improvement.