The Impact of Government R&D Support on Firms’ Financial and Innovation Performance: Focusing on the Effects of Planning Approaches in Projects for Industrial Technological Innovation

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This research aims to compare the effects of different government R&D planning approaches on firm performance in terms of finance and innovation.
Combined R&D project data from the Korea Industrial Technology Promotion Agency with firm financial data.
Conducted panel analysis using Heckman selection model and cross-sectional analysis with bivariate regression.
Investigated moderation effects of the number of participating institutions in free competition projects.
Government R&D support significantly increases firms' sales (+) effect.
Designated competition projects outperform free competition projects in both financial (sales) and innovation outcomes (patent applications, registrations, commercialization).
In free competition projects, a greater number of consortium participants significantly enhances performance.

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Assesses government R&D support's impact on firms' financial and innovation performance, suggesting strategic task planning for enhanced outcomes.

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JUNG et al. (2026) studied this question.

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