earticle

영어

In this study, we try to evaluate R&D policy on firm's R&D effectiveness in early stage as choosing treatment firm based on employment or revenue size. Policy evaluation is needed to induce firm R&D effectiveness so that we estimate if policy instrument will be effected in early stage firm such as venture and small firm. Our empirical results show that first, sharp regression discontinuity designs is statistically significant, but fuzzy regression discontinuity is not. Second, there is negative relationship between R&D expenditure and choice variables. The results imply the bigger firm spends the less R&D expenditure. Finally among policy choice variables employment size is more sensitive than revenue variable to promoting R&D effort. We imply some policy implication on encourage firm's R&D effort based on empirical results.