서비스업 고성장기업의 혁신 특성에 관한 연구: 혁신활동과 혁신성과를 중심으로

이원빈,오승환 기술경영경제학회 2023 Journal of Technology Innovation Vol.31 No.4

With the arrival of the post-COVID-19 period, countries around the world are making various efforts with the aim of rapid economic recovery. In this respect, interest in high-growth companies is also continuously increasing because studies of various high-growth companies have proven their high contribution to national economic development and job creation. As such, studies related to existing high-growth companies emphasize the role of high-growth companies in the national economic dimension, especially in job creation. However, not many studies mention the role of high-growth companies from an innovation perspective. It emphasizes the importance of high-growth companies in the national economy by examining the impact on the economy and the share of high-growth companies in total sales. Accordingly, this study established integrated data by combining corporate financial data and the Korea Enterprise Innovation Survey (KIS, service sector) in 2021 by the Science and Technology Policy Institute(STEPI), and analyzed the innovation activities and innovation performance of high-growth companies using propensity score matching methodology. Looking at the analysis results, it was found that high-growth companies are creating more innovation performances through more diverse innovation activities than general companies. In particular, the fact that high-growth companies play a positive role in product innovation or business innovation outcomes can be interpreted by expanding the importance of high-growth companies that have been emphasized from the perspective of the national economy to the perspective of innovative growth. However, no difference could be found in R&D types or cooperative R&D between high-groth firms and general firms, indicating that the innovation capabilities of high-growth companies need to spread to general companies through strengthening cooperative R&D. Based on the above analysis results, this study aims to present implications such as the need to foster and monitor high-growth companies to strengthen national innovation capabilities, and the expansion of the spillover effect of innovation through incentives for cooperative activities of high-growth companies. 코로나 이후 시기가 도래하며 세계 각국은 빠른 경제 회복을 목표로 다양한 노력을 강구하고 있다. 이러한 측면에서 고성장기업에 관한 관심 역시 지속해서 높아지고 있는데, 지금까지 이루어진 다양한 고성장기업의 연구를 통해 국가 경제발전이나 고용 창출에 있어 고성장기업의 높은 기여도가 입증되었기 때문이다. 이처럼 기존 고성장기업 관련 연구의 경우 국가 경제 차원, 특히 고용 창출에 있어서 고성장기업의 역할을 강조하고 있다. 하지만, 혁신 관점에서 고성장기업의 역할을 언급하고 있는 연구는 많지 않다. 이에 본 연구에서는 기업 재무 데이터와 과학기술정책연구원의 2021년 한국기업혁신조사(KIS)(서비스업 분야)를 병합한 통합데이터를 구축하고 서비스업 고성장기업의 혁신 활동과 혁신성과에 대해 분석해보았다. 방법론 측면에서는 고성장기업이 갖는 특성으로 인해 발생할 수 있는 선택편의 문제를 해결하기 위해 성향점수매칭방법론을 활용하였다. 분석 결과를 살펴보면 서비스업 고성장기업은 일반기업 대비 더 다양한 혁신 활동을 통해 더 많은 혁신성과물을 창출하고 있는 것으로 나타났다. 특히, 상품혁신이나 비즈니스 혁신성과물 창출에 있어서 고성장기업이 긍정적인 역할을 한다는 것은 기존 경제·사회적 관점에서 강조되어오던 고성장기업의 중요성을 혁신성장 관점으로 확대하여 해석할 수 있는 결과이다. 다만, 연구·개발 유형이나 협력 R&D에서는 일반기업과 차별점을 찾을 수 없었는데, 이는 협력 연구·개발 강화를 통해 고성장기업이 보유한 혁신역량이 일반기업자들에게 파급될 필요가 있음을 보여주는 결과이다. 이상의 분석 결과를 바탕으로 본 연구에서는 국가 혁신역량 강화를 위한 고성장기업 육성과 모니터링의 필요성, 고성장기업의 협력 활동 유인 통한 혁신의 파급효과 확대 등의 시사점을 제시하고자 한다.

Innovation Types and Productivity Growth: Evidence from Korean Manufacturing Firms

Keun Jae Lee,Sang Mok Kang 연세대학교 동서문제연구원 2007 Global economic review Vol.36 No.4

The purpose of this paper is to investigate productivity growth according to three types of innovation: product innovation, product improvement, and process innovation, using firm-level data from the Korea Innovation Survey 2002 about Korean manufacturing companies. This study is conducted in two steps. The first step measures firm-level Malmquist productivity index by data envelopment analysis (DEA). The second step estimates econometric regression models by weighted least square utilizing the productivity index as a dependent variable and each of the innovation types and other characteristics of firms as independent variables. The empirical results partly support the idea that the types of innovation matter in productivity growth. Specifically, process innovation may result in higher productivity performance than product innovation in the short run. This result stems from the difference in efficiency growth when productivity growth is decomposed into two components: efficiency growth and technical growth. That is, product innovation by definition involves product development and radical innovation and so, it can deteriorate efficiency growth relative to other types of innovation due to the process of product development and the adjustments that are needed to new innovations whereas process innovation is implemented to reduce defects, lead time, costs and other factors, and as such is very efficiency orientated. Consequently it helps improve efficiency growth.

오픈이노베이션이 스타트업 성장에 미치는 영향 : 매출 협업 성과를 중심으로

김진우 사단법인 한국벤처혁신학회 2023 벤처혁신연구 Vol.6 No.4

This study is related to the performance of open innovation collaboration between startups and large corporations and financial institutions. In the life cycle of a typical company, the growth of a startup is difficult to predict. Startups that possess innovative technology but have only recently been established seek to verify their technology and capabilities by participating in open innovation with large corporations and financial institutions, and further strive to lay the foundation for corporate growth. However, if you approach it only as a theoretical coexistence plan, it will be viewed as a vague attempt from the startup's perspective. The purpose of this study is to differentiately verify the benefits of open innovation by analyzing the difference in sales growth of startups for the purpose of sales performance based on the open innovation participation of large companies and small and medium-sized companies(startups). In verifying this, the analysis was based on the sales results of the actual open innovation collaboration B2C model, and the difference was confirmed by comparing before and after collaboration. Here, the differentiation of the study was added by reflecting the corporate growth stage theory, a growth theory. When the corporate growth stage theory was excluded, it was confirmed that sales growth due to open innovation of startups was applied from the third month, and sales growth depending on participation was confirmed to be significant. On the other hand, when the corporate growth stage theory was applied, sales growth was not significant, but the difference in growth could be confirmed from the fourth month, and it was also confirmed in sales growth depending on participation. As a result, this study objectively confirms the effects that can be gained when startups participate in Open-innovation, and it is expected that Open-innovation led by large corporations, financial institutions, and government agencies will develop into a high-quality program environment.

제품 혁신을 통한 국제적 성장에 관한 연구: 다각화 상황의 조절효과를 중심으로

오한모 ( Oh Han-mo ) 한국유통경영학회(구 한국유통정보학회) 2016 유통정보학회지 Vol.19 No.5

Purpose: Despite insightful works regarding the nature of the processes and the rewards associated with product innovation, previous studies have little assessed when a firm`s product innovation leads truly to its international growth. Focusing on the roles of diversification contexts, the author attempted to address an issue of how firms can generate international growth from product innovation. Research design, data, and methodology: Drawing critically on the resource-advantage theory of competition, the author developed a model that may explain how firms achieve international growth through product innovation. The model was empirically tested with an event study on 175 announcements of international product innovation. Results: This results of the present study indicate that the innovativeness of a new product positively influences international growth and that related diversifiers achieve greater international growth through product innovation than do unrelated diversifiers. In addition, it is found that the level of diversification negatively moderates the effect of product innovativenesss on international growth. In contrast, competitor protection and market diversification positively moderate the effect of product innovativenesss on international growth. Conclusions: The author suggested that firms innovate products in order to achieve expected growth in international markets by considering the following issues. First, international marketing managers should deeply understand the components of product innovativeness because international product innovations can be effective when the innovativeness of a new product is high. Second, international marketing managers should consider the level of product diversification before developing new products internationally because international product innovation is likely to be more successful when the level of product diversification is low than is high. Third, international marketing managers should focus on the moderating role of the type of product diversification, competitor protection, and the level of market diversification in international product innovation because a low level of each of the factors can alleviate the positive effects of product innovation on international growth although a firm has a strong innovativeness.

혁신성장의 원리와 Start-up 금융 -혁신성장의 Econ 101과 Start-up 성장의 효과적 금융생태계-

이종욱 ( Chong Ook Rhee ),송치승 ( Chi Seung Song ),김상준 ( Sang-joon Kim ) 한국경제학회 2018 한국경제포럼 Vol.11 No.3

선진국의 경험으로 보면, 저성장 시대의 성장 원동력은 기업가 정신에 의한 혁신이다. 한국도 저성장과 높은 실업을 해결하려면, 혁신성장이 단기·중기·장기 목표를 세워 체계적으로 추진되어야 한다. 한국에서 혁신은 기업가, 특히 Start-up 기업의 역할이 강조되고 있어, 한 국가의 혁신성장 모형이 성공하려면 혁신 의미의 Econ 101 지식 공감대가 필요하다. 혁신은 사회적 혁신, 기술혁신, 공공혁신 구성되어, 민간 부문의 기업가, 근로자, 임직원, 노동조합, 시민단체, 그리고 공공혁신을 주도하는 정부(행정, 입법, 사법)에 근무하는 사람들이 함께 이루어 내는 것이다. 한국의 혁신에서는 혁신의 환경을 결정하는 정부, 그리고 기업가 이외에 임직원, 근로자, 노동조합, 시민단체 등의 혁신에 대한 책임과 의무가 없다. 슘페터가 경제발전의 세 가지 요소로 경제순환과 새로운 결합이 원활하게 이루어지는데 금융의 역할을 강조했다. 한국의 기존 중소기업에서 금융접근이 가능한 기업은 18% 정도에 불과하므로, 한국경제를 더 발전시키기 위해 신용등급이 낮은 기존기업에 대한 정책자금 그리고 벤처기업에 자금을 공급하는 벤처기업 금융 생태계를 만드는 모태 펀드, 벤처캐피탈 역할과 기능 확대가 바람직하다. 한국은 혁신성장을 추진하면서도, 기업가와 근로자, 기업가와 사회 사이에 이념적 갈등이 표출되어, 정부의 기업가와 혁신을 유도하기 위한 환경을 만드는 노력이 더 강화되어야 한다. 또한 한국에서 혁신성장이 성공하려면 기존 중소기업 및 대기업에서 혁신도 강조되어야 하고, start-up 경영자 뿐만 아니라 기존 대기업 및 중소기업 경영자와 교류를 활성화 해야 한다. In the experience of developed countries, the driving force of growth in the low-growth era is entrepreneurial innovation. In the low-growth period, the United States, Germany, and Japan also increased their R&D/GDP ratios and implemented growth and job creation through innovation. The success of a country's innovation growth model requires a consensus on the meaning of innovation. In Korean innovation, there is no government (administrative, legislative, judicial) role to determine the environment of innovation, and hence no mention of their responsibilities and obligations for employees, workers, labor unions, NGOs including entrepreneurs to drive three types of innovation - social innovation, technological innovation and public innovation. While the role of existing conglomerates in Korea’s innovation is being excluded and misunderstood, large corporations can play a leading role in the innovation of venture companies and SMEs. In 2017, the allocation ratio of economic value distribution of Samsung Electronics accounted for 77.1% to 2,436 suppliers, and that of Hyundai Motor Company for 76.15% to first-tier 480 firms which is connected with the second-tier 5,020 suppliers, The largest share of economic value resulting from the innovation generated by entrepreneurs and workers in large corporations is distributed to their suppliers. As Schumpeter emphasized the role of economic circulation, new combination, and finance as the three elements of economic development, innovation can be better promoted through communication and cooperation among government - enterprise -employee-finance, not conflicts among them. In Korea, it is necessary to accumulate and share innovation knowledge corresponding to Econ 101 based on the widely known research results on innovation found by economists and business scholars. Ideological conflicts between entrepreneurs and workers and between entrepreneurs and society are expressed, and efforts to promote favorable environments to create entrepreneurial innovations are not easy. To drive innovation nationally, government has to resolve conlicts and needs to stimulate communication among start-up executives as well as existing large companies’ and SMEs’. In order to get out of the low growth of Korean economy, it is necessary to pursue economic innovative activities led by technological innovators such as venture companies as well as innovation of big firms.

고성장기업의 혁신활동 및 혁신성과에 관한 연구 : 국내 제조기업을 대상으로

이병문(Byeongmun Lee),이혁(Hyeok Lee),오승환(Seunghwan Oh) 한국혁신학회 2022 한국혁신학회지 Vol.17 No.2

코로나 19 팬데믹으로 인해 글로벌 경제가 급격히 악화된 상황에서 빠른 경기 반등과 경제 성장, 일자리 창출 등이 중요한 이슈로 떠오르고 있다. 이러한 가운데 경제성장과 일자리 창출에 기여도가 큰 고성장기업에 대한 관심이 다시금 커지고 있다. 고성장기업은 매출액과 고용증가에 있어서 높은 성장을 보이는 기업들로, 기존의 연구들은 대부분 고성장기업이 고용창출 등의 국가 경제 발전에 미치는 영향들을 살펴보고 있다. 본 연구에서는 기업 성장 관점이 아닌 혁신 관점에서 고성장기업의 특성을 살펴보고자 한다. 즉, 국가 경제 발전의 주체 역할을 담당하고 있는 고성장기업들이 혁신 관점에서도 그 역할을 수행하고 있는가를 살펴보는 것이 본 연구의 주요 목적이다. 이를 위해 본 연구에서는 기업재무데이터를 바탕으로 구축한 고성장기업 DB와 국가승인 통계인 한국기업혁신조사(KIS)를 결합한 통합데이터를 구축하여 고성장기업의 혁신활동 및 혁신성과를 살펴보았다. 특히, 고성장기업이 갖는 기업 특성으로 인해 발생하는 선택편의 문제를 해결하고자 매칭방법론 중 하나인 성향점수매칭(PSM)을 활용하여 고성장기업과 유사한 특성을 갖는 쌍둥이 기업과 비교분석을 수행하였다. 분석 결과를 살펴보면, 첫 번째로 고성장기업은 유사한 기업 대비 더 많은 혁신성과(상품혁신성과, BP혁신성과)를 만들어 내고 있는 것으로 나타났다. 두 번째로는 협력 활동 수행과 R&D 유형 관련해서는 고성장기업과 유사한 기업 사이 통계적으로 유의한 차이가 나타나지 않았음을 알 수 있었다. 마지막 세 번째로 코로나-19에 관련하여 혁신활동 변화를 따져본 분석에서는 고성장기업들이 유사한 기업 대비 ‘새로운 혁신활동을 수행하는 비중’이 통계적으로 유의하게 높게 나타나고 있음을 확인할 수 있었다. 이러한 결과를 바탕으로 고성장기업에 대한 체계적인 모니터링 및 분석, 고성장기업 육성을 위한 정책 지원 및 제도적 기반 마련 등의 정책적 시사점을 제시하고자 한다. With the global economy rapidly deteriorating due to the COVID-19 pandemic in recent years, rapid economic rebound, economic growth, and job creation are emerging as important issues. Among them, interest in high-growth companies that contribute greatly to economic growth and job creation is growing again. High-growth companies refer to companies with very high growth potential in sales and employment growth, and most of the existing studies examined the effects of high-growth companies on national economic development. This study aims to examine the characteristics of high-growth companies from the perspective of innovation, not from the perspective of corporate growth. In other words, the main purpose of this study is to examine whether high-growth companies that play a important role in terms of national innovation capability. To this end, this study looked at innovation activities and performance of high-growth companies by constructing integrated data that combines high-growth company DB and the Korea Enterprise Innovation Survey (KIS), a national approval statistic. In particular, in order to solve the problem of selection bias problem caused by the characteristics of high-growth companies, comparative analysis was performed with twin companies with similar characteristics to high-growth companies using propensity score matching (PSM). Looking at the analysis results, first, it was found that high-growth companies are creating more innovation performance (product & BP innovation performance) than similar companies. Second, it can be seen that there was no statistically significant difference between high-growth companies and similar companies regarding R&D activities and cooperation. Lastly, the third analysis examining changes in innovation activities related to COVID-19 confirmed that high-growth companies showed a statistically significant percentage of performing new innovation activities compared to similar companies. Based on these results, we can find that it is necessary to systematically monitor innovation activities of high-growth companies, secondly, systematic support for fostering high-growth companies, and thirdly, prepare various institutional devices to increase the spillover effect of the innovation capabilities of high-growth companies.

정책연구 : 중소기업 경쟁력 강화를 위한 지원정책의 기업성장단계별 차별화 방안

경종수 ( Jong Soo Kyung ),이보형 ( Bo Hyung Lee ) 한국중소기업학회 2010 中小企業硏究 Vol.32 No.4

중소기업의 경쟁력이 국가의 미래와 산업경쟁력에 직결된다는 인식을 바탕으로 많은 국가들은 직간접적인 지원정책을 통해 중소기업의 성장을 도모하고 있다. 그 동안 정부는 중소기업의 경쟁력 강화를 위한 다양한 지원정책을 전개하여 왔으나, 산업별, 기술별, 지역별, 기업성장단계별 다양한 수요를 반영하여 보다 효율적인 기업지원정책에 대한 접근이 필요하다. 본 연구에서는 성장단계별 혁신역량의 차이를 바탕으로 혁신역량 개선요소와 정책방향을 도출하고, 성장단계별 지원정책의 기업수요를 바탕으로 차별적 정책방안을 제안하고자 한다. 연구목적을 달성하기 위해 243개 기업을 대상으로 설문조사를 실시하였으며, 주요 분석결과는 다음과 같다. 첫째, 기업의 혁신역량에 대해 비교분석한 결과 성장단계별로 관계자산, 기업문화, 기술개발 부문에서 성장단계별 혁신역량은 유의한 차이가 있었다. 둘째, 지원정책에 대한 기업의 수요수준을 비교분석한 결과 성장단계별로 기술개발지원, 마케팅지원, 정보교류지원에 있어 기업수요는 유의한 차이가 있었다. 결과적으로 성장단계별로 혁신역량의 차이를 파악하여 중소기업 경쟁력 강화를 위한 혁신역량 개선요소들을 도출할 수 있었다. 그리고 기업성장단계별로 지원정책에 대한 수요수준의 차이가 있으므로 우리는 중소기업 지원정책의 성장단계별 차별화 방안을 제안하였다. 이러한 연구결과를 토대로, 정부가 산업현장의 기업수요에 대응한 맞춤형 정책을 발굴함으로써 중소기업 지원정책의 효율성이 높아지길 기대한다. 중소기업 관련 정책은 직접적인 수요자인 중소기업의 접근성과 효율성을 극대화하는 측면에서 방향이 재정립되어야 하며, 산업별, 기업성장단계 및 규모별, 단기 및 중장기 정책의 조화로운 정책포트폴리오를 갖춰야 한다. Many countries are aware of the importance of SMEs (Small-Medium Enterprises) competency in terms of their long-term competitiveness. The government has been directly or indirectly supporting their growth, which is reflected through demands from the industrial level, technologic level and regional level. In order to foster the more strong SMEs, many countries deploy various political efforts. Especially, enhancing the competitiveness of SMEs has been recognized as a driving force in the national economy and industrial growth. The policy for SMEs under the process of globalization focuses on enhancing their competitiveness. This policy must support ways to improve competency of the SMEs in a fast-paced environment. The Korean government has also been deploying various support policies for SMEs for many years. On the supply side, the government has been deploying various business policies for SMEs, but SMEs are perceived to lack in-formation about the business support policy. Therefore government authorities should develop a more effective policy approach by responding to their demands. SMEs support policies are important in terms of job creation and enhancing industrial competitiveness, as well as a promoting a high proportion of SMEs within an industrial structure. A high proportion of me-dium-sized enterprises in the national economy is essential for progress to a sophisticated industrial structure. At the national level, it is very important for small, medium, and large companies to form an evenly com-posed, interconnected industrial integration. The growth patterns of companies have important implications for industrial growth. As a small company grows into a medium-size company, a medium-sized company grows into a large company. The political effort to strengthen the competitiveness of SMEs is required. Business policy should be fo-cused on needs of industrial field rather than the supply side. The business policy must excavate by the multi-dimensional analysis in terms of industry, technology (an initial technical, commercial technology), region (strategic industry, traditional industry) and firm characteristics (stage of growth, firm size, etc.). According to previous research, the growth factor in the each growth stage is different according to the characteristics of the company, technology innovation strategy, resources, and management factors. The per-formance of innovative activities will be created through company competency (R&D, sales and marketing). Because these innovative activities will be created by the company resources and corporate culture, they de-pend on each growth stage. Based on previous research and these research objectives, we set up hypotheses as follows: Hypothesis 1: The innovation competency of SMEs will be different by growth stages. The government has been deploying various business policies for SMEs. But, because the management sit-uation of SMEs is different, their policy demands will be different. SMEs need a different strategy for solving each problem, so the SMEs business policy demands will be different. Hypothesis 2: The demand of business policy in each growth stage will be different. In this study, we have tried to find the policy direction to improve innovation competency in the growth stage of SMEs. We suggested discriminatory approach methods about the business support policy by growth stages. To achieve the objectives of this research, we surveyed and analyzed by statistic methods companies in the Chungnam area. Based on this research purpose, we surveyed 243 companies in Chungnam area. The target companies for survey participated in this program in order to foster local industry in the Chungnam area. We sent the ques-tionnaires and welcomed any request for help. We received their responses bye-mail or fax. By cooperating with related organizations, we made a list of 280 companies from the target group. Then we gathered the re-sponses from 250 companies. The rate of response was 88.66%. The empirical analysis of growth stages fol-lowed the two-step process for grouping and identification of stages and difference between the groups. In the first step we grouped the sample group by variables of selected growth stage. In the second step, we used the analysis of variance (ANOV A) in order to find the difference of innovation competency and the demand of business policy among growth stages. The main analysis results are as follows. First, by comparing the innovation competencies with growth stages, we found significant differences in relationship assets, corporate culture, and research and development. Secondly, by comparing the demand level for business support policies with growth stages, we found significant differences in research and development, marketing, and exchange of information. The detailed results by growth stages are as follows: First, in the product development stage after start-up (Stage 1), innovation competency is lower in the R&D sector and asset of relationship. So a support program to improve competency is necessary. In this stage, the level of policy demand about R&D, marketing, and information exchange was higher than in other stages. Second, in the initial production and marketing stage (Stage 2), the innovation competency about corporate culture was lower than other stages. The policy de-mands about R&D and information exchange was lower than other stages. Third, to ensure a stable market stage (Stage 3), the innovation competency on asset of relationships was higher than other stages. There is no uniqueness of the relative difference between the policy demands. Fourth, in the expansion of market for subsequent product development (Stage 4), the innovation competency in R&D was higher than other stages. The policy demands on marketing and information exchange were higher than other stages. As a result, the corporate resources and capabilities are lacking in the early stages of growth. The support for various types of policies should be pursued. In the mature stage, SMEs had increased their R&D capabilities and the marketing demand was relatively high. The exchange of information is high in the early and maturity stage. As a result, we were able to identify the differences and improvement elements on innovation competency of SMEs by growth stages. Consequently, we proposed the necessity of differentiating policies by growth stages of SMEs, because there are different business support policy demands by growth stages of SMEs. Based on the results of these studies, we expect to increase the efficiency of business support policy, by finding customized policies with the industry demand.

The Changes in Financial Performance of Technology Innovation Activities by the Different Phases of Business Growth in Innovative SMEs

Hye-Su Park,Nick Lee,Sun-Young Park 한국창업학회 2012 한국창업학회 Conferences Vol.2012 No.3

An empirical analysis, which dataset is based on the 2010 Survey of Korea Venture Firms 1), was performed on the efficiency of resource allocation in each business growth stage for maximizing the investment efficiency of technology innovation activities of innovative SMEs. To summarize, variables show different productivities in each growth stage. First, increasing manpower in research and development (R&D), increasing manpower in sales, and obtaining government supports are significantly correlated with financial performance in the start-up phase, but having intellectual properties is not. Second, in the phase of initial growth, the manpower in production and R&D are influential to the financial performance. Third, in the phase of rapid growth, the productivity of the manpower in R&D is increased, but the manpower in production and sales become not as highly as influential than before. However, in the phase of maturity, the intellectual properties and the manpower of R&D are highly correlated with financial performance. This result suggests that productivity of resources different in each growth stage could be applied the decision making process for efficient resource allocation to maximize financial performance. Since Innovative small to Medium-sized enterprises (SMEs) tend to carry limited resources in the phases of business growth, from start-up and to maturity, the technology innovation activities are constrained differently in each phase. Although many studies have been focused on the phases of business growth similar to biological organisms, the studies on the productivity of technology innovation activities are insufficient. Thus, in this study, an empirical analysis was performed on the efficiency of resource allocation to the technology innovation in each phase of the growth. This study is done ultimately to help to maximize the investment efficiency of businesses based on the data of 2010 Survey of Korea Venture Firms. The result of the study shows that financial performance is affected in different phases by different variables, i.e. adding investment, increasing manpower, obtaining government supports, and cooperating with external business networks for technology innovation activities. In addition, the effects of variables to financial performance show different results in different phases. To summarize, first, increasing manpower in research and development (R&D), increasing manpower in sales, and obtaining government supports are significant in the start-up phase, but having intellectual properties is not. Second, in the phase of initial growth, the manpower in production and R&D are influential to the financial performance. Third, in the phase of rapid growth, the productivity of the manpower in R&D is increased, but the manpower in production and sales become not as highly as influential than before. However, in the phase of maturity, the intellectual properties and the manpower of R&D become influential. From the result, business executives may compare the effect of variables with each other, and allocate resources that may maximize their financial performance. However, since this study was not able to confirm the statistical significance between the investment in R&D and in capital expenditure, follow-up studies may be needed.

공정혁신과 제품혁신이 고용구조와 경제성장에 미치는 영향

정성문,곽기현,여영준 한국혁신학회 2017 한국혁신학회지 Vol.12 No.2

Recently, the emergence of artificial intelligence and robot have reignited the debate on the relationship between innovation and employment. However, the issue between innovation and employment, which has recently been raised, is focused only on process innovation. While the labor-saving innovation such as process innovation is one aspect of the innovation, but labor-friendly innovation such as product innovation is another aspect of the innovation. Therefore, the impact of innovation on employment and growth should be viewed as direct effects as well as indirect effects. In this paper, we tried to examine how the two aspects of innovation - process innovation and product innovation - affect the employment structure and economic growth by using the knowledge-based CGE (Computable General Equilibrium) model. The results of the study are summarized as follows. First, considering the characteristics of process innovation only, additional input of knowledge capital occurs that skill-biased technological and capital-biased technology change. However, if both the characteristics of process innovation and product innovation are reflected, the input of additional knowledge capital has a positive effect on employment growth and economic growth. However, economic growth through innovation still results in skill-biased technological change and capital-biased technological change, resulting in increased polarization. Therefore, it is necessary to overcome these problems for sustainable growth. 최근 들어 인공지능과 로봇의 등장으로 인해 혁신과 고용 사이의 상관관계에 대한 논쟁이 다시 치열해지고 있다. 하지만 최근에 제기되고 있는 혁신과 고용간의 문제는 공정혁신 측면에만 치중되어 있다. 혁신은 공정혁신과 같은 노동 절약적 혁신도 있지만, 제품혁신과 같은 노동 친화적 혁신도 존재한다. 따라서 혁신이 고용과 성장에 미치는 영향은 직접적인 효과와 더불어 간접적인 효과도 같이 살펴보아야 한다. 따라서 본 연구에서는 지식기반 연산일반균형모형을 이용하여 혁신의 두 가지 측면인 공정혁신과 제품혁신이 고용구조와 경제성장에 어떠한 영향을 미치는지 살펴보고자 하였다. 연구의 결과를 정리해보면 다음과 같다. 우선 공정혁신의 특성만을 고려할 경우 추가적인 지식자본의 투입은 숙련편향적 기술변화와 자본편향적 기술변화를 발생시키는 것으로 나타났다. 그러나 공정혁신의 특성과 제품혁신의 특성을 모두 반영해준 경우 추가적인 지식자본의 투입은 고용이 증가하고 경제성장에 긍정적인 영향을 주는 것으로 나타났다. 하지만 혁신을 통한 경제성장은 여전히 숙련편향적 기술변화와 자본편향적 기술변화을 일으키고, 이로 인해 양극화가 심화되는 것으로 나타났다. 따라서 지속가능한 성장을 위해서는 이러한 문제점들을 보완할 필요가 있다.

Effects of Human Capital and Innovation on Economic Growth in Selected ASEAN Countries: Evidence from Panel Regression Approach

Nor Fatimah CHE SULAIMAN,Jumadil SAPUTRA,Suriyani MUHAMAD 한국유통과학회 2021 The Journal of Asian Finance, Economics and Busine Vol.8 No.7

Human capital and innovation capacities are essential elements and one of the sustainable approaches to driving economic growth. However, there is debate among scholars concerning these two factors in fostering economic growth. This study investigates the relationships between human capital and innovation capacity and economic growth in selected ASEAN countries, namely, Malaysia, Thailand, and Indonesia. Economists widely discussed the interrelation of human capital and innovation. A large body of literature stated that human capital is an essential factor and engine of economic growth. Innovation has become key in transforming the economic development of developing countries. We analyze human capital (HC) and innovation capacity (INC) using static panel data analysis. The data analysis shows that the fixed-effect model is the best model in this study. Further, human capital (HC) has a significant positive relationship with economic growth. Meanwhile, innovation capacity has no significant relationship with economic growth. We also found that Malaysia’s coefficient of human capital and innovation capacity is higher and more efficient than in Thailand and Indonesia. In conclusion, human capital and innovation capacity are crucial elements for measuring economic growth. Skilled human capital contributes significantly to the economic growth and economic development of a nation.