정부 에너지 R&D 투자가 수혜기업의 매출에 미치는 영향 분석

Since the late 2000s, the Korean government’s energy policy has begun to re-examine the energy industry as a new growth engine for the nation, furthering its goal of stabilizing supply and demand. The government has steadily increased R&D investment in the energy sector by promoting “low-carbon green growth” with the paradigm of national development. The aim of this study was to determine if government R&D investment has an effect on the sales growth of beneficiaries in the energy industry. In addition, this study analyzed how the effects of government R&D investments differ in renewables, electricity, and the nuclear program. The results showed that the government R&D investment does not necessarily guarantee an improvement in sales growth of the beneficiary company, but is significant only in the renewable energy sector. This study concludes that there is a need to diversify the investment types according to the market and technology maturity.