기업부설연구소 인정취소가 중소·벤처기업의 사멸에 미치는 영향분석

This study examines the impact of corporate research institute decertification on firm survival, including closures and bankruptcies, under increasingly stringent regulatory oversight. Corporate research institutes are a vital policy mechanism supporting R&D activities in SMEs and venture firms. Using a dataset of around 118K firms from 2020 to 2023, the study applies the Heckman two-step model to address potential sample selection bias and categorizes firm survival periods into three intervals: within 6 months, 12 months, and overall. The findings reveal several critical insights. First, decertification significantly increases the likelihood of firm failure, with decertified firms facing higher survival risks. Second, venture firms are disproportionately vulnerable, experiencing a significantly greater risk of failure compared to SMEs. Third, while R&D intensity generally correlates with firm survival, its interaction with decertification did not produce statistically significant effects. These results underscore the unintended consequences of decertification policies, which, while designed to remove firms with inadequate R&D capabilities, may also endanger firms with latent potential. To address this, policymakers should consider flexible measures such as deferral mechanisms and phased reductions in benefits to support firms during transitional periods. Such policy enhancements can help mitigate the adverse effects of decertification, fostering a more resilient and sustainable corporate environment while maintaining the integrity of R&D support systems.