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@article{ART002854974},
author={CIN BEOM CHEOL},
title={An Empirical Analysis on Effects of Financial Constraints on Innovation Investment},
journal={Journal of Asia-Pacific Studies},
issn={1225-8539},
year={2022},
volume={29},
number={2},
pages={109-133},
doi={10.18107/japs.2022.29.2.005}

TY - JOUR
AU - CIN BEOM CHEOL
TI - An Empirical Analysis on Effects of Financial Constraints on Innovation Investment
JO - Journal of Asia-Pacific Studies
PY - 2022
VL - 29
IS - 2
PB - Institute of Global Affairs
SP - 109
EP - 133
SN - 1225-8539
AB - This paper empirically examines effects of financial constraints on innovation investment, based on 2018 Korea’s Innovation Survey data implemented by STEPI. Empirical results show that the null hypothesis that the financial constraints is exogeneous are rejected for all cases. This suggests that ignoring the potential endogeneity of financial constraints can lead to biased results. In estimation by 2SRI method, all financial constraints except for one case turn out to be statistically significant negative effects on R&D investment decision. These results imply that financial constraints are regarded as not the barriers to be overcome but those to be deterred barriers which are a real impediment to innovation activities.
KW - Financial Constraints;Internal Financing;Revealed Barriers;Endogeneity;2 Stage Residual Included Method
DO - 10.18107/japs.2022.29.2.005
ER -

CIN BEOM CHEOL. (2022). An Empirical Analysis on Effects of Financial Constraints on Innovation Investment. Journal of Asia-Pacific Studies, 29(2), 109-133.

CIN BEOM CHEOL. 2022, "An Empirical Analysis on Effects of Financial Constraints on Innovation Investment", Journal of Asia-Pacific Studies, vol.29, no.2 pp.109-133. Available from: doi:10.18107/japs.2022.29.2.005

CIN BEOM CHEOL "An Empirical Analysis on Effects of Financial Constraints on Innovation Investment" Journal of Asia-Pacific Studies 29.2 pp.109-133 (2022) : 109.

CIN BEOM CHEOL. An Empirical Analysis on Effects of Financial Constraints on Innovation Investment. 2022; 29(2), 109-133. Available from: doi:10.18107/japs.2022.29.2.005

CIN BEOM CHEOL. "An Empirical Analysis on Effects of Financial Constraints on Innovation Investment" Journal of Asia-Pacific Studies 29, no.2 (2022) : 109-133.doi: 10.18107/japs.2022.29.2.005

CIN BEOM CHEOL. An Empirical Analysis on Effects of Financial Constraints on Innovation Investment. Journal of Asia-Pacific Studies, 29(2), 109-133. doi: 10.18107/japs.2022.29.2.005

CIN BEOM CHEOL. An Empirical Analysis on Effects of Financial Constraints on Innovation Investment. Journal of Asia-Pacific Studies. 2022; 29(2) 109-133. doi: 10.18107/japs.2022.29.2.005

CIN BEOM CHEOL. An Empirical Analysis on Effects of Financial Constraints on Innovation Investment. 2022; 29(2), 109-133. Available from: doi:10.18107/japs.2022.29.2.005

CIN BEOM CHEOL. "An Empirical Analysis on Effects of Financial Constraints on Innovation Investment" Journal of Asia-Pacific Studies 29, no.2 (2022) : 109-133.doi: 10.18107/japs.2022.29.2.005