Opposite effects of R&D cooperation on financial and technological performance in SMEs
利用2013-2015年韩国中小企业数据，发现研发合作提升财务绩效但降低技术绩效，且大企业更自发合作，为中小企业优化研发策略提供参考。
The effect of R&D cooperation on SME performance is inconsistent in the literature. Using data on Korean SMEs from 2013 to 2015, we analyzed the effect of R&D cooperation on their financial and technological performance and examined the relationship between SME spontaneity and R&D cooperation. The results show that R&D cooperation has positive effects on financial performance and has negative effects on technological performance. Concerning the spontaneity of R&D cooperation, larger SMEs exhibit greater R&D cooperation without the need for government intervention, unlike smaller SMEs. SMEs and governments should consider performance goals and firm size to optimize R&D strategy.