Proper

Abstract

The government has promoted the technological innovation of small and medium enterprises (SMEs) by implementing various R&D funding programs. This study analyzes the effects of R&D planning support on the change of corporate financial data by using latent growth modeling. The analysis results show that the recipient SMEs from the R&D planning program demonstrated an increase in sales revenue. Also, SMEs that received additional follow-up support after “R&D planning program” increased their sales revenues compared to non-beneficiaries. In summary, the "R&D Planning Program" strengthened SMEs' technological innovation in early stage, and increased their sales over three years. This study improved two points of questionnaire-based methodologies that may involve subjective opinion, by applying evidence/data based approaches. First, this approach established an objective/qualitative evaluation methodology, and secondly improved the limitation of cross-sectional analysis by adopting time series analysis when evaluating the effect of the policy on a beneficiary company over 3 years.