THE EFFECTS OF THE CHARACTERISTICS OF KOREAN FIRMS ON THE PATENT PRODUCTION FUNCTION

Yoo-Jin Han and Won-Young Lee

Economics of Innovation and New Technology, 2007, vol. 16, issue 4, 293-301

Abstract: In this study, we estimate the input-output relationship between R&D investment and the number of patents granted to Korean firms by the US Patent and Trademark Office and the Korean Intellectual Property Office. Using pooled panel data and time-series data, we also examine the influence of the characteristics of the firms, viz. their export-orientation, the degree of foreign ownership and Chaebol-affiliation on the input-output relationship. It was found that the elasticities of US and Korean patents for R&D investment are 1.56 and 1.38, respectively. It was also shown that, in general, export-oriented firms, firms with higher foreign ownership and non-Chaebol firms have higher patent producing capability.

Keywords: Patents; Patent production function; Firm characteristics; Export-orientation; Foreign ownership; Chaebol-affiliation (search for similar items in EconPapers)
Date: 2007
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Citations: View citations in EconPapers (5)

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DOI: 10.1080/10438590600740949

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