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Analysis on the Adequate Level of R&D Investment in Small and Medium-sized Enterprises Using Threshold Regression
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문턱회귀모형(threshold regression)을 활용한 중소기업의 적정 R&D 투자수준 분석

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Type
Academic journal
Author
Jung, Euy-Young (한국과학기술기획평가원) Baek, Chulwoo (덕성여자대학교 국제통상학과)
Journal
The Korean Society For Technology Management & Economics 기술혁신연구 기술혁신연구 제23권 제1호 KCI Accredited Journals
Published
2015.1
Pages
87 - 105 (19page)

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Analysis on the Adequate Level of R&D Investment in Small and Medium-sized Enterprises Using Threshold Regression
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This research confirms a non-linear relationship between R&D investment and performance of small and medium-sized enterprises and measures the adequate level as threshold value. Although previous studies did not consider the time lag and estimated indirectly the level using the R&D investment squared term, this study assumes 2 years time lag and uses the threshold estimation model to measure directly. We find that there is the S-curve relationship between the profit rate as R&D output and R&D intensity and the ratio of researchers to employees as R&D input. Also, we estimate the adequate levels of R&D investment, 6.4% for R&D intensity and 13% for the ratio of researchers to employees. This relationship and measurement of the level can offer basic facts and implications about R&D policy and strategy.

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