The Impact of Financial Support System on Technology Innovation: A Case of Technology Guarantee System in Korea

  • Woo-Seok Jang Seoul National University
  • Woojin Chang Seoul National University

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.

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Author Biographies

Woo-Seok Jang, Seoul National University
Seoul National University
Woojin Chang, Seoul National University
Seoul National University
Published
2008-04-18
How to Cite
Jang, W.-S., & Chang, W. (2008). The Impact of Financial Support System on Technology Innovation: A Case of Technology Guarantee System in Korea. Journal of Technology Management & Innovation, 3(1), 10-16. Retrieved from https://www.jotmi.org/index.php/GT/article/view/art68
Section
Research Articles