정부 R&D 투자의 성장잠재력 확대효과에 관한 연구: 기업의 설비투자를 중심으로

 

 

최호철

윤지웅

최용석

본 연구는 기업에 대한 정부의 R&D 투자가 기업의 성장잠재력 확충에 유의미한 영향을 가지는지 성향점수매칭 방법을 이용하여 실증 분석하였다. 기업의 설비투자를 성장잠재력의 대용변수로 활용하고, 정부의 R&D 투자는 기업의 국가연구개발사업 참여 여부로 정의하였다. 그리고, 사업에 참여한 기업과 참여하지 않은 기업에서 설비투자의 차이가 유의미하게 나타나는지 분석하였다. 분석 결과, 전체기업을 기준에서, 참여기업과 미참여기업의 차이는 통계적으로 유의하지 않았다. 반면, 기업의 특성을 대기업과 중소기업으로 구분했을 때, 대기업 간의 차이는 통계적으로 유의하지 않았으나, 중소기업 간의 차이는 통계적으로 유의미하게 나타났다. 이러한 결과는 기업에 대한 정부의 R&D 지원정책이 정책목표와 기업의 특성에 따라 전략적으로 구성될 필요가 있다는 점을 보여준다.

 

주제어: 성장잠재력, 설비투자, 성향점수매칭, 정부 R&D




The Effect of Government R&D
Investment on Growth Potential:
Focused on the Facility Investment of Corporate

Ho Cheol Choi, Ji Woong Yoon & Yong-Seok Choi

Major countries are contemplating the scale and strategy of investments to enhance corporate growth potential through research and development (R&D) funding and rebuild the national economy. Nevertheless, little attention has been paid to the relationship between government R&D and corporate growth potential. This study empirically analyzed how government R&D investment affected corporate growth potential using propensity score matching (PSM). Corporate facility investment was used as a proxy for growth potential, and whether companies participated in national R&D projects was assessed. Then, whether there was a difference in facility investment between the companies that participated in national R&D projects and those that did not was examined. Our research findings suggested that there was no statistical significance in the total sample. When the sample was classified by size, there was no significant difference between the participating and non-participating groups in large companies. However, for small-and medium-sized enterprises (SMEs), the difference in facility investment was statistically significant between the two groups. These results imply that government R&D support policies for companies need to be strategically structured based on national policy goals and corporate characteristics. For large corporations, it is necessary to utilize various measures such as taxation and restriction rather than direct R&D investment.

 

※Keywords: Growth Potential, Facility Investment, Propensity Score Matching, Government R&D