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The Effect of Credit Guarantees on R&D Investment of SMEs in Korea
Jönköping University, Jönköping International Business School, JIBS, Economics.ORCID iD: 0000-0002-7902-4683
2015 (English)In: Asian Journal of Technology Innovation, ISSN 1976-1597, E-ISSN 2158-6721, Vol. 23, no 3, 407-421 p.Article in journal (Refereed) Published
Abstract [en]

The Korean government has invested a significant amount of resources through credit guarantee funds for promoting SMEs' survival, performance and R&D investments. This study attempts to identify the determinants of providing credit guarantees and estimates their effects on firms' R&D expenditures. It takes into account the heterogeneity of various characteristics of firms when looking at credit guarantees and in-house R&D investment relationships. This study identified factors that enhance the efficiency of funds and their effects on firms' R&D investment behaviours. It enables feedback effects on the public funds that were selected by the guaranteed firms. It proposes a number of policy measures to promote a better balance between public and private investments to reduce risks of business failures.

Place, publisher, year, edition, pages
Taylor & Francis, 2015. Vol. 23, no 3, 407-421 p.
Keyword [en]
Credit guarantee, SMEs, public funds, R&D investment, Korea
National Category
Economics
Identifiers
URN: urn:nbn:se:hj:diva-28908DOI: 10.1080/19761597.2015.1131955ISI: 000369505900008Scopus ID: 2-s2.0-84964061369OAI: oai:DiVA.org:hj-28908DiVA: diva2:892080
Available from: 2016-01-08 Created: 2016-01-08 Last updated: 2017-12-01Bibliographically approved

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Heshmati, Almas

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