An Analysis on the Effect of Government Supports for the R&D of SMEs: Focused on Technical, Economic, and Social Outcomes

Hyunjoo Chang

This study aims to expand the debate on the effects of government support for small and medium-sized enterprises (SMEs) and analyze technical outcomes of the creativity and marketability of newly developed technologies, the social outcomes of employment changes, and the economic outcomes of government support for the research and development (R&D) of SMEs. The technical, economic (with a focus on growth and profitability), and social outcomes of SMEs which have gained multiple benefits from government are found to be more effective than the outcomes of SMEs which have gained a one-shot benefit. Also, government support was found to positively affect the technical and economic outcomes of the number of patent registrations, and the growth of business and employment, but not profitability. Furthermore, while government support and technical outcomes, as well as the economic outcome of growth significantly affected the employment growth of SMEs, another economic outcome, profitability, did not affect such a social outcome. The results imply that a virtuous cycle has begun to appear in the form of ‘introduction of production equipment - expansion of plant and facilities - increase in patent application and registration - expansion of scale of business - employment growth’. However, government support has not yet been able to improve the profitability of SMEs.

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REFERENCES (44)
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* 2021년 이후 발행 논문의 참고문헌은 현재 구축 중입니다.

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