The Impact of Efficiency Parameters on Firms Innovative Activities: Evidence from Korean Firm-level data
AbstractWith the premise that patent data are reliable indicators of innovativeness, the empirical analysis of R&D?patents relationship is useful for monitoring the efficiency of the innovation process. This paper extends the research on the relationship between R&D spending and patent counts by estimating the impact of efficiency parameters. A data set from 1255 firms with nonzero R&D expenditures in Korea was studied. Results show that the difference in firms¡¯ innovative performance is attributable to firm-specific characteristics, including propensity to patent and firm size, and differences in efficiency parameters. They also indicate that firms that conduct patent searches before starting R&D activities obtain an average of 13.9% more patents with an increase of one unit on the ¡®patent search¡¯ scale. Results also show the importance of the role of IP managers and revenue splitting policy for employee-inventors in the innovation process.
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Bibliographic InfoPaper provided by Seoul National University; Technology Management, Economics, and Policy Program (TEMEP) in its series TEMEP Discussion Papers with number 200924.
Length: 22 pages
Date of creation: Oct 2009
Date of revision: Nov 2009
Publication status: Published in Innovation, Management, Policy & Practice journal (Volume 12 Issue 3, 2010) of eContent Management Pty Ltd
Incentive for employee-inventor; innovation process; innovative performance; IP manager; preliminary patent search; R&D-patents relationship;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-04-17 (All new papers)
- NEP-CSE-2010-04-17 (Economics of Strategic Management)
- NEP-EFF-2010-04-17 (Efficiency & Productivity)
- NEP-INO-2010-04-17 (Innovation)
- NEP-IPR-2010-04-17 (Intellectual Property Rights)
- NEP-SBM-2010-04-17 (Small Business Management)
- NEP-TID-2010-04-17 (Technology & Industrial Dynamics)
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