What affects the innovation performance of small and medium-sized enterprises (SMEs) in the biotechnology industry? An empirical study on Korean biotech SMEs.
Research-intensive small and medium-sized enterprises (SMEs) play a crucial role in the advancement of the biotechnology industry. This paper explored the impacts of internal and contextual variables on innovative activity in Korea and compared the results of this analysis with previous studies of other countries. Our analysis of 149 Korean biotech SMEs showed that the ratio of R&D expenditure to sales, the ratio of R&D employees to total employees, CEO characteristics, governmental support and international networking are positively correlated with a firm's innovation performance. The results may help decision makers to better foster SMEs in the Korean biotechnology industry.
Kang
Kyung-Nam
KN
Korea Institute of Intellectual Property, KIPS center 16th fl. 647-9, Seoul 135-980, Republic of Korea.
Lee
Yoon-Sik
YS
D001709:Biotechnology; D007221:Industry / Q000458:organization & administration*; D007723:Korea; D009936:Organizational Innovation