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The impact of financial support system on technology innovation : A case of technology guarantee system in Korea

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  • The impact of financial support system on technology innovation
  • Jang, Woo-Seok; Chang, Woojin
  • education policy analysis archives


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Title The impact of financial support system on technology innovation
Similar Titles
Sub Title

A case of technology guarantee system in Korea

Material Type Reports
Author(English)

Jang, Woo-Seok; Chang, Woojin

Publisher

Santiago : education policy analysis archives

Date 2008-03
Journal Title; Vol./Issue Journal of Technology Management & Innovation:Vol. 3(No. 1)
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Financial Policy
Industry and Technology < Science/Technology
Holding education policy analysis archives
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Abstract

We analyzed the impact of financial support system on technological innovation of small and medium manufacturing firms in Korea, with a special interest in technology guarantee system. This was done using a sample of 1,014 Korean manufacturing firms of which 43% were venture companies. Our study provides two important conclusions. First, the result of empirical analysis indicates that financial support systems have a significant influence on both product innovation and process innovation of SMEs in Korea. Second, a more important conclusion of this research is that technology guarantee system impacts on product innovation; however not on process innovation. This result implies that technology guarantee system attaches more importance to technological innovations related with product development than to those related with process enhancement.