Abstract
This paper extends the research on the R&D—patent relationship by distinguishing the factors affecting R&D productivity (which is defined as ‘efficiency parameters) from the factors associated with the propensity of firms to patent, and estimates the impacts of the factors on innovative output. A data set from 1255 firms with nonzero R&D expenditures in Korea was studied, and the results show that efficiency parameters such as in-depth patent searches and revenue splitting policy for employee-inventors influence firm’s innovative output through ‘R&D productivity’ effect. These results mean that we can improve firm’s innovation output by changing efficiency parameters through a firm’s investment or government support in a relatively short period.
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