The effect of funding agency's choices: empirical evidence from large-scale R&D projects in Korea's automotive industry Online publication date: Mon, 30-Nov-2020
by Hyoung Ryul Ma; Debra Sabatini Dwyer
International Journal of Technology, Policy and Management (IJTPM), Vol. 20, No. 4, 2020
Abstract: A funding agency, as a crucial agent in the government-sponsored R&D system, makes funding choices to enhance the output or outcome of the R&D projects in which it invests. This paper examines the impact a Korean funding agency can have to drive the output of R&D projects. Using a data set of 147 government-sponsored large-scale R&D projects, this study tests how choice variables of a funding agency or R&D consortium affect technological output. This study finds that a funding agency's choice variables - the amount of funding, duration, and the intensity of monitoring - are quite influential on the success score and the number of publications of R&D projects, but do not significantly impact the number of patent applications. The results suggest that the funding agency, as an innovation facilitator, needs to expand its entrepreneurial activities, including consulting toward commercialisation, besides its traditional tasks related to project evaluation and management.
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