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

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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: Chaebol-affiliation; Export-orientation; Firm characteristics; Foreign ownership; Patent production function; Patents

Document Type: Research Article

DOI: https://doi.org/10.1080/10438590600740949

Affiliations: Interdisciplinary Program in Technology and Management, Seoul National University, Seoul, Republic of Korea

Publication date: 2007-06-01

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