[Purpose] This study is a study on the effect of patents on the management performance of companies for technology start-ups that have received technology evaluation guarantees from the Korea Technology Guarantee Fund. The purpose of this study was ...
[Purpose] This study is a study on the effect of patents on the management performance of companies for technology start-ups that have received technology evaluation guarantees from the Korea Technology Guarantee Fund. The purpose of this study was to study whether management activities using patents of technology start-ups affect the management performance of increased sales and operating profit, whether patent applications, and whether R&D organizations have a moderating effect on management performance. The results and implications of this are presented to the government, local governments, and SME policy financial support institutions through empirical analysis of how much technology evaluation guarantees are provided to technology start-up companies with patent rights, and research on whether R&D organizations have a moderating effect.
[Methodology] Multiple regression analysis was conducted with independent variables(patent holding), dependent variables(sales/operating profit), and control variables(R&D organization, patent application status) to analyze the impact of technology start-up companies’ patents on the company’s management performance.
[Findings] The analysis results are that first, patents of technology start-ups have a significant positive effect on sales growth. Second, patents of technology start-ups do not have a significant positive effect on operating profit growth. Third, it was found that the R&D organization had a moderating effect on the increase in sales among the management performance of a company, but not on the increase in operating profit. Whether or not to apply for a patent has no moderating effect on both the increase in sales and operating profit.
[Implications] This study attempted to find out the relationship between patents and management performance by measuring the management performance of a company based on the patents held by technology start-up companies that received technology evaluation guarantees from the Korea Technology Guarantee Fund. There is a difference from previous studies in verifying the moderating role between patents and management performance in technology start-up companies by using patent applications and R&D organizations used as independent or parameters as moderating variables in several previous studies. Through this, in order to improve the growth potential of technology start-ups, it is necessary to revitalize R&D organizations such as corporate-affiliated research institutes or R&D departments that can develop more systematic R&D and innovative technologies than through R&D, and to improve profitability, it is necessary to establish a growth roadmap such as innovative technology development and new value-added products.