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The Impact of Efficiency Parameters on Firms Innovative Activities: Evidence from Korean Firm-level data

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  • Seong-Sang Lee

    ()

  • Yeonbae Kim

    ()
    (Technology Management, Economics and Policy Program (TEMEP), Seoul National University)

Abstract

With 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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File URL: ftp://147.46.237.98/DP-24.pdf
File Function: First version, 2009
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Bibliographic Info

Paper provided by Seoul National University; Technology Management, Economics, and Policy Program (TEMEP) in its series TEMEP Discussion Papers with number 200924.

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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
Handle: RePEc:snv:dp2009:200924

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Keywords: Incentive for employee-inventor; innovation process; innovative performance; IP manager; preliminary patent search; R&D-patents relationship;

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  1. Gerald Marschke & Jinyoung Kim, 2002. "Accounting for the recent surge in U.S. patenting: Changes in R&D expenditures, patent yields, and the high tech sector," Discussion Papers, University at Albany, SUNY, Department of Economics 02-10, University at Albany, SUNY, Department of Economics.
  2. Panzar, John C & Willig, Robert D, 1981. "Economies of Scope," American Economic Review, American Economic Association, American Economic Association, vol. 71(2), pages 268-72, May.
  3. Jeroen de Jong & O'Shaughnessy & Patrick Vermeulen, 2003. "Innovation in SMEs: An Empirical Investigation of the Input-Throughput-Output-Performance Model," Scales Research Reports, EIM Business and Policy Research N200302, EIM Business and Policy Research.
  4. Bronwyn H. Hall & Zvi Griliches & Jerry A. Hausman, 1984. "Patents and R&D: Is There A Lag?," NBER Working Papers 1454, National Bureau of Economic Research, Inc.
  5. Jinyoung Kim & Sangjoon John Lee & Gerald Marschke, 2009. "Relation of Firm Size to R&D Productivity," International Journal of Business and Economics, College of Business, and College of Finance, Feng Chia University, Taichung, Taiwan, College of Business, and College of Finance, Feng Chia University, Taichung, Taiwan, vol. 8(1), pages 7-19, April.
  6. Blind, Knut & Edler, Jakob & Frietsch, Rainer & Schmoch, Ulrich, 2006. "Motives to patent: Empirical evidence from Germany," Research Policy, Elsevier, Elsevier, vol. 35(5), pages 655-672, June.
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