A study on the innovation activity for firm growth: Focused on regional start-ups and venture firms
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Ceaseless firm’s growing is homework for all managers. In particular, forstart-ups, it is critical factors. This paper explores to find relationship between R&Dactivity and net profit, proxy of firm growth for SMEs, especially including InnoBizfirm designated by government as entrepreneurial activities firm. In order to achievethe research the aims, we apply both empirical analysis by using robust regressionto estimate research hypothesis and interview for CEOs and researchers in researchdivision in 263 firms located at Gwangju city in Korea. According to empiricalfindings patent, output of innovation of firm is negative relation with net profit in statistically. Even InnoBiz firm designated as entrepreneurial SMEs by governmentis not statistically significant. In addition, photonic industry considered as innovativeindustry sector is also negative relation with firm growth in terms of net profit instatistically. From the empirical findings, we can find that the relationship betweennet profit and patent is negative. This phenomenon could occur due to time lag ofR&D. But rather, this result implies that SMEs in particular young firms are morelikely to innovate because they are relatively high R&D intensity. In order to firmgrowth, firm could find variety of the managerial strategy to enhance innovativeactivities, to share the knowledge by using cluster’s indigenous positive effectembedded in region. In addition, it is needed to more effort to create the atmosphereof innovation in even traditional industry sectors as well as cutting edge technology.
Abstract
Ceaseless firm’s growing is homework for all managers. In particular, forstart-ups, it is critical factors. This paper explores to find relationship between R&Dactivity and net profit, proxy of firm growth for SMEs, especially including InnoBizfirm designated by government as entrepreneurial activities firm. In order to achievethe research the aims, we apply both empirical analysis by using robust regressionto estimate research hypothesis and interview for CEOs and researchers in researchdivision in 263 firms located at Gwangju city in Korea. According to empiricalfindings patent, output of innovation of firm is negative relation with net profit in statistically. Even InnoBiz firm designated as entrepreneurial SMEs by governmentis not statistically significant. In addition, photonic industry considered as innovativeindustry sector is also negative relation with firm growth in terms of net profit instatistically. From the empirical findings, we can find that the relationship betweennet profit and patent is negative. This phenomenon could occur due to time lag ofR&D. But rather, this result implies that SMEs in particular young firms are morelikely to innovate because they are relatively high R&D intensity. In order to firmgrowth, firm could find variety of the managerial strategy to enhance innovativeactivities, to share the knowledge by using cluster’s indigenous positive effectembedded in region. In addition, it is needed to more effort to create the atmosphereof innovation in even traditional industry sectors as well as cutting edge technology.
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