earticle

영어

This paper empirically examines the effects of R&D investment decision and productivity on export shares for Korea's listed and non-listed manufacturing companies over the period from 2000 to 2008. In estimating the structural models for both export shares and R&D investment decision, it controls for simultaneity and inconsistency caused by distributional problems of exports by employing the Full Information Maximum Likelihood Estimation procedure. Empirical results suggest that for all firms, export shares are positively associated with R&D investment decision, implying that the higher the probability of R&D investment is, the higher the export share is. The estimated coefficients of R&D investment decision for small and medium sized firms are found to be significantly larger than those for large firms. This implies that government R&D subsidy would have a stronger effect on exports for small and medium sized firms, rather than for larger firms.