Time Series Analysis of Outcomes for Small and Medium Enterprises’ Support of Regional Industry
Continued investment in Research and Development (R&D) by the government and corporate support played a major role in the rapid growth of the Republic of Korea. In 2017, the amount of R&D investment by the government accounted for 19.7 trillion Won (KRW), which is 4.7 % of the government’s budget. The government’s R&D budget is increasing by 2.5 % each year. We analyzed the outcomes of the projects, supported by the Busan regional companies conducted in 2016 to 2017. For a time series analysis, we gathered companies support amount by year, sales after company support, and material for employment. We used IBM’s Statistical Package for the Social Sciences (SPSS) 18 for correlation analysis. We confirmed the relationship between employment and the sales of the annual company support program.
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