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Kwangsoo Shin
Department of Biomedical Convergence, College of Medicine, Chungbuk National University, Chungdae-ro 1, Seowon-gu, Cheong-ju 28644, Chungbuk, Korea

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Journal article
Published: 23 August 2021 in Sustainability
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Since small and medium enterprises (SMEs) play an important role in economic development, the government implements various supports. Nevertheless, SMEs have difficulties in gaining a competitive advantage in the market owing to lack of capital and capacity. Accordingly, SMEs try to secure a competitive advantage through innovation. Government support is necessary for the innovation of SMEs, and it is essential for food SMEs as well. Whether government support for firms can affect firm’s innovation is still a matter of debate. In particular, it is necessary to empirically investigate the relationship between government support and innovation for SMEs in latecomers to the food industry such as Korea. Therefore, this study conducted an empirical study on the factors that determine the innovation performance of food SMEs by government support. This study used a two-stage regression model. The government support does not unilaterally affect innovation performance, but rather, an endogeneity problem occurs through the interaction between them. This study examined the interrelationships between variables for a clear estimate of government support. Before two-stage regression, this study used the ordered logistic regression to determine the instrumental variables. Each instrumental variable was estimated for the seven types of government support that are normally implemented. The result suggests that the government certification support is effective in improving the innovation performance of food SMEs. This study is useful to establish innovation strategies for supporting food SMEs’ innovation in late-coming countries.

ACS Style

Harry Jeong; Kwangsoo Shin; Seunghyun Kim; Eungdo Kim. What Types of Government Support on Food SMEs Improve Innovation Performance? Sustainability 2021, 13, 9461 .

AMA Style

Harry Jeong, Kwangsoo Shin, Seunghyun Kim, Eungdo Kim. What Types of Government Support on Food SMEs Improve Innovation Performance? Sustainability. 2021; 13 (16):9461.

Chicago/Turabian Style

Harry Jeong; Kwangsoo Shin; Seunghyun Kim; Eungdo Kim. 2021. "What Types of Government Support on Food SMEs Improve Innovation Performance?" Sustainability 13, no. 16: 9461.

Journal article
Published: 07 April 2021 in Sustainability
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Due to the high risk in development process, the bio-pharmaceutical industry has transformed itself into an open innovation framework in order to overcome economic risk. This study examines the relationship between outbound open innovation and financial performance in bio-pharmaceutical industry. Specifically, this study extends knowledge-based view to link the open innovation performance and licensor’s sustainability. In order to provide empirical evidence, this study uses econometric methodology with several databases including bio-pharmaceutical firms. The analysis shows firm’s desorptive capabilities have a significant effect on financial performance, confirming the application of knowledge capacity framework. The result of the study can suggest the way how the licensors can maintain the sustainability of competitiveness in bio-pharmaceutical industry.

ACS Style

Eungdo Kim; Ingyu Lee; Hongbum Kim; Kwangsoo Shin. Factors Affecting Outbound Open Innovation Performance in Bio-Pharmaceutical Industry-Focus on Out-Licensing Deals. Sustainability 2021, 13, 4122 .

AMA Style

Eungdo Kim, Ingyu Lee, Hongbum Kim, Kwangsoo Shin. Factors Affecting Outbound Open Innovation Performance in Bio-Pharmaceutical Industry-Focus on Out-Licensing Deals. Sustainability. 2021; 13 (8):4122.

Chicago/Turabian Style

Eungdo Kim; Ingyu Lee; Hongbum Kim; Kwangsoo Shin. 2021. "Factors Affecting Outbound Open Innovation Performance in Bio-Pharmaceutical Industry-Focus on Out-Licensing Deals." Sustainability 13, no. 8: 4122.

Journal article
Published: 05 January 2021 in Journal of Open Innovation: Technology, Market, and Complexity
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In the medical device industry, which is highly value-added and requires multidisciplinary knowledge, major global firms dominate the market, so it is necessary to establish a growth strategy suitable for latecomers. Through a Korean case, it was confirmed that import, diversification, and R&D activity are distinguishing strategies. The existing literature covers these strategies, but these findings are fragmented and differ from those of latecomers. This study examined the impact of the above factors on corporate growth, based on data of 440 Korean medical device manufacturers from 2011 to 2016. According to the results of panel data regression, diversification and R&D activity have a positive effect on the financial performance of a firm, while the import business model shows a negative effect. These results are expected to provide implications with respect to strategies for the growth of latecomers in the medical device industry. In future research, it is necessary to investigate how detailed strategies in accordance with the growth stages of a firm can be established.

ACS Style

Kyungtae Yeom; Changhyeon Song; Kwangsoo Shin; Ho Seon Choi. What Is Important for the Growth of Latecomers in the Medical Device Industry? Journal of Open Innovation: Technology, Market, and Complexity 2021, 7, 13 .

AMA Style

Kyungtae Yeom, Changhyeon Song, Kwangsoo Shin, Ho Seon Choi. What Is Important for the Growth of Latecomers in the Medical Device Industry? Journal of Open Innovation: Technology, Market, and Complexity. 2021; 7 (1):13.

Chicago/Turabian Style

Kyungtae Yeom; Changhyeon Song; Kwangsoo Shin; Ho Seon Choi. 2021. "What Is Important for the Growth of Latecomers in the Medical Device Industry?" Journal of Open Innovation: Technology, Market, and Complexity 7, no. 1: 13.

Journal article
Published: 04 December 2020 in Sustainability
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This study examines the influence of government support, research and development (R&D) investment and cooperation networks on sustainable innovation performance of the medium-sized food firms in South Korea. Climate change, population growth, lifestyle change and consumer demands for new products allow firms to explore innovation for sustainable growth. In the food industry, where various stakeholders are involved in the value chain, government support, R&D investment and cooperation are affecting firms’ sustainable performance. However, there are few empirical studies that examine the relationship among them, especially regarding medium-sized food firms. This study aimed to analyze data regarding Korean food firms through a structural equation model. To overcome data scarcity, this study collected new data for 67 medium-sized food firms. The data is matched with the firms’ 10-year data on management, innovation performance, and cooperation networks. This study can contribute to filling the literature gap by exploring what innovation strategies should be used to improve food SMEs’ innovation performance in the latecomer countries, which have developed their food industries relatively recently.

ACS Style

Harry Jeong; Kwangsoo Shin. Exploring Factors Affecting Sustainable Innovation Performance of Food Firms. A Case of Korean Food Industry. Sustainability 2020, 12, 10157 .

AMA Style

Harry Jeong, Kwangsoo Shin. Exploring Factors Affecting Sustainable Innovation Performance of Food Firms. A Case of Korean Food Industry. Sustainability. 2020; 12 (23):10157.

Chicago/Turabian Style

Harry Jeong; Kwangsoo Shin. 2020. "Exploring Factors Affecting Sustainable Innovation Performance of Food Firms. A Case of Korean Food Industry." Sustainability 12, no. 23: 10157.

Journal article
Published: 01 October 2020 in Journal of Open Innovation: Technology, Market, and Complexity
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This study aims to explore whether a firm’s financial sustainability is enhanced by open innovation especially after a global financial crisis. There are few studies on the relationship between open innovation and financial sustainability. This study aimed to fill the literature gap by analyzing the change in the financial ratio according to the increase or decrease in open innovation. We used a case study method regarding large Korean food firms. Korea is a latecomer in the food industry, which is driven by large companies. This study is meaningful for financial sustainability studies of countries with a lack of resources and small market size, which require open innovation. The findings of this study are as follows: The most preferred alliance strategy of large food firms is joint research. In order to secure raw materials and markets, open innovation was actively conducted abroad, which increased growth and profitability. However, a firm which rarely adopts open innovation could grow steadily through internal strategies. On the other hand, although relatively many open innovations have been used, growth and profitability could decrease. Firms with sufficient absorptive capacity strengthen financial sustainability through open innovation.

ACS Style

Harry Jeong; Kwangsoo Shin; Eungdo Kim; Seunghyun Kim. Does Open Innovation Enhance a Large Firm’s Financial Sustainability? A Case of the Korean Food Industry. Journal of Open Innovation: Technology, Market, and Complexity 2020, 6, 101 .

AMA Style

Harry Jeong, Kwangsoo Shin, Eungdo Kim, Seunghyun Kim. Does Open Innovation Enhance a Large Firm’s Financial Sustainability? A Case of the Korean Food Industry. Journal of Open Innovation: Technology, Market, and Complexity. 2020; 6 (4):101.

Chicago/Turabian Style

Harry Jeong; Kwangsoo Shin; Eungdo Kim; Seunghyun Kim. 2020. "Does Open Innovation Enhance a Large Firm’s Financial Sustainability? A Case of the Korean Food Industry." Journal of Open Innovation: Technology, Market, and Complexity 6, no. 4: 101.

Journal article
Published: 23 June 2020 in Insects
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The challenge in the edible insect industry is to reverse consumers’ aversion to insects, which is a barrier to their consumption. This requires innovation by users rather than producers. This study aimed to present how edible insects could be promoted as medical foods from the health professionals and caregivers’ perspective. By analyzing the characteristics of the medical foods market, this study found a niche market and plan to develop medical foods using edible insects as an alternative to meet the needs of consumers. The survey participants were caregivers, nurses, and doctors as providers of medical foods. Based on the survey results, this study proposed strategies to reduce consumers’ aversion to edible insects and increase their consumption. To promote insect medical foods, it is required to hold frequent insect-related events and use clean raw materials.

ACS Style

Harry Jeong; Kwangsoo Shin. What Is Required for Edible Insects to Become Medical Food? From a Health Professionals and Caregivers’ Perspective. Insects 2020, 11, 388 .

AMA Style

Harry Jeong, Kwangsoo Shin. What Is Required for Edible Insects to Become Medical Food? From a Health Professionals and Caregivers’ Perspective. Insects. 2020; 11 (6):388.

Chicago/Turabian Style

Harry Jeong; Kwangsoo Shin. 2020. "What Is Required for Edible Insects to Become Medical Food? From a Health Professionals and Caregivers’ Perspective." Insects 11, no. 6: 388.

Journal article
Published: 09 September 2019 in Sustainability
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In recent years, technological mergers and acquisitions (M&As) have become important strategic tools for enterprises to access and utilize new external knowledge. In particular, in the biopharmaceutical industry, M&A activities are actively being progressed due to an increase in new drug development costs, a decrease in R&D productivity, and the patent expiration of blockbuster drugs. However, there is a lack of research on the integrated view of (1) the acquirer’s capability and (2) the dyadic relationship of the knowledge base between the acquirer and target on the innovation performance of the acquirer. Furthermore, there are few empirical studies on the impact of these factors on ambidextrous innovation; that is, exploitative and explorative innovation. Therefore, with this integrated view in mind, this study analyzed the effect of each factor on the exploitative and exploratory innovation performance of the acquirer. A negative binomial regression was conducted using patent data to measure the innovation outcome of the acquirer after M&A. The findings suggest that (1) the acquisition experience of the acquirer and (2) the technological commonness between the acquirer and the target both had a significant impact on the exploitation and exploration innovation performance.

ACS Style

Ye Jin Lee; Kwangsoo Shin; Eungdo Kim. The Influence of a Firm’s Capability and Dyadic Relationship of the Knowledge Base on Ambidextrous Innovation in Biopharmaceutical M&As. Sustainability 2019, 11, 4920 .

AMA Style

Ye Jin Lee, Kwangsoo Shin, Eungdo Kim. The Influence of a Firm’s Capability and Dyadic Relationship of the Knowledge Base on Ambidextrous Innovation in Biopharmaceutical M&As. Sustainability. 2019; 11 (18):4920.

Chicago/Turabian Style

Ye Jin Lee; Kwangsoo Shin; Eungdo Kim. 2019. "The Influence of a Firm’s Capability and Dyadic Relationship of the Knowledge Base on Ambidextrous Innovation in Biopharmaceutical M&As." Sustainability 11, no. 18: 4920.

Journal article
Published: 28 August 2019 in Journal of Open Innovation: Technology, Market, and Complexity
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The objective of this study is to summarize the current general evaluation process that stakeholders use to evaluate single or multiple medical devices to select the optimal medical device. This study constructed a novel evaluation framework to select the optimal medical device by overcoming the limitations of assessments that were previously confined to the medical device cycle and the purpose of the specific assessment. It also presents a general framework for incorporating usability evaluations into the frame to reflect the objectives and characteristics of key stakeholders in the medical device industry. In addition, the results of medical device evaluation are further analyzed using the analytical hierarchy process (AHP).

ACS Style

Juhyeok Park; Eungdo Kim; Kwangsoo Shin. Developing an Evaluation Framework for Selecting Optimal Medical Devices. Journal of Open Innovation: Technology, Market, and Complexity 2019, 5, 64 .

AMA Style

Juhyeok Park, Eungdo Kim, Kwangsoo Shin. Developing an Evaluation Framework for Selecting Optimal Medical Devices. Journal of Open Innovation: Technology, Market, and Complexity. 2019; 5 (3):64.

Chicago/Turabian Style

Juhyeok Park; Eungdo Kim; Kwangsoo Shin. 2019. "Developing an Evaluation Framework for Selecting Optimal Medical Devices." Journal of Open Innovation: Technology, Market, and Complexity 5, no. 3: 64.

Journal article
Published: 19 August 2019 in International Journal of Environmental Research and Public Health
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Exposure to air pollution affects human activity and health. Particularly, in Asian countries, the influence of particulate matter on humans has received wide attention. However, there is still a lack of research about the effects of particulate matter on human outdoor activities and mental health. Therefore, we aimed to explore the association between exposure to particulate matter with a diameter of less than 10 µm (PM10) and outdoor activity along with mental health in South Korea where issues caused by particulate matter increasingly have social and economic impacts. We examined this relationship by combining the physical and habitual factors of approximately 100,000 people in 2015 from the Korean National Health Survey. To measure each individual's exposure to particulate matter, we computed the total hours exposed to a high PM10 concentration (>80 μg/m3) in a given district one month before the survey was conducted. After dividing all districts into six groups according to the exposed level of the high PM10, we applied the propensity score-weighting method to control for observable background characteristics. We then estimated the impact of the high PM10 on outdoor activity and mental health between the weighted individuals in each group. Our main findings suggest that the impact of PM10 on outdoor activity and stress shows an inverted-U shaped function, which is counterintuitive. Specifically, both outdoor activity and stress levels tend to be worsened when the exposure time to a high PM10 (>80 μg/m3) was more than 20 h. Related policy implications are discussed.

ACS Style

Miyeon Jung; Daegon Cho; Kwangsoo Shin. The Impact of Particulate Matter on Outdoor Activity and Mental Health: A Matching Approach. International Journal of Environmental Research and Public Health 2019, 16, 2983 .

AMA Style

Miyeon Jung, Daegon Cho, Kwangsoo Shin. The Impact of Particulate Matter on Outdoor Activity and Mental Health: A Matching Approach. International Journal of Environmental Research and Public Health. 2019; 16 (16):2983.

Chicago/Turabian Style

Miyeon Jung; Daegon Cho; Kwangsoo Shin. 2019. "The Impact of Particulate Matter on Outdoor Activity and Mental Health: A Matching Approach." International Journal of Environmental Research and Public Health 16, no. 16: 2983.

Journal article
Published: 15 March 2019 in Sustainability
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Government research and development (R&D) subsidies are more important in countries that are latecomers to the biotechnology industry, where venture capital has not been developed, and the ratio of start-ups is high. Previous studies have mostly focused on the additionality of the input and output through government R&D subsidies, such as private R&D investment, technological innovation, and financial performance. In addition, some studies have focused on the behavioral additionality (the change in a firm’s behavior) of firms through government R&D subsidies. However, each study is fragmented and does not provide integrated results and implications. Therefore, this study comprehensively investigated the effects of government R&D subsidies on the multifaceted aspects of input, output, and behavioral additionality based on data from South Korean biotechnology companies. This study used the propensity score matching (PSM) method to prevent selection bias. The results showed that firms benefiting from government R&D subsidies had a markedly higher R&D investment in terms of input additionality, and they produced more technological innovation within a shorter period in terms of output additionality, though financial performance was not determined. Moreover, government R&D subsidies have accelerated strategic alliances and suppressed external financing (debt financing) in terms of behavioral additionality.

ACS Style

Kwangsoo Shin; MinKyung Choy; Chul Lee; Gunno Park. Government R&D Subsidy and Additionality of Biotechnology Firms: The Case of the South Korean Biotechnology Industry. Sustainability 2019, 11, 1583 .

AMA Style

Kwangsoo Shin, MinKyung Choy, Chul Lee, Gunno Park. Government R&D Subsidy and Additionality of Biotechnology Firms: The Case of the South Korean Biotechnology Industry. Sustainability. 2019; 11 (6):1583.

Chicago/Turabian Style

Kwangsoo Shin; MinKyung Choy; Chul Lee; Gunno Park. 2019. "Government R&D Subsidy and Additionality of Biotechnology Firms: The Case of the South Korean Biotechnology Industry." Sustainability 11, no. 6: 1583.

Journal article
Published: 09 October 2018 in Science of The Total Environment
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Environmental noise pollution is an important social problem. Noise is known to have an adverse effect on human emotions and bodies. However, the methodology of previous studies did not consider selection bias in eliminating participants during the screening process. Therefore, for this study, we propose a framework that combines propensity score matching with a generalized additive model to reduce that sampling problem. Within this framework, we use health data from the National Health Insurance Service and noise data from the National Noise Information System in Korea. Using the proposed framework and data set, we analyze the effects of noise on cardiocerebrovascular disease. Our results show that, when daytime noise increases by 1 A-weighted decibel (dB(A)), cerebrovascular disease increases by 0.66%, hypertension increases by 0.17%, and heart disease increases by 0.38%. Moreover, we conducted a scenario analysis to investigate the effects of noise reduction policies. When noise levels are reduced to meet regulatory targets, cerebrovascular diseases decrease by 2077 per million people, high blood pressure decreases by 5705 per million people, and heart disease decreases by 1151 per million people. Our results thus provide information about noise exposure–response functions in Korea that could be used to establish noise reduction policies.

ACS Style

Myoungjin Oh; Kwangsoo Shin; KyungAh Kim; Jungwoo Shin. Influence of noise exposure on cardiocerebrovascular disease in Korea. Science of The Total Environment 2018, 651, 1867 -1876.

AMA Style

Myoungjin Oh, Kwangsoo Shin, KyungAh Kim, Jungwoo Shin. Influence of noise exposure on cardiocerebrovascular disease in Korea. Science of The Total Environment. 2018; 651 ():1867-1876.

Chicago/Turabian Style

Myoungjin Oh; Kwangsoo Shin; KyungAh Kim; Jungwoo Shin. 2018. "Influence of noise exposure on cardiocerebrovascular disease in Korea." Science of The Total Environment 651, no. : 1867-1876.

Journal article
Published: 03 September 2018 in Sustainability
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This paper analyzes factors affecting pricing in patent licensing contracts in the biopharmaceutical industry based on a dataset that includes royalty-related data such as running royalty rate, up-front payment, milestones, and deal value. Data on drug candidates for 11 drug classes is obtained for regression analysis between royalty-related data and multiple input descriptors such as market factors, licensor factors, and licensee factor in order to derive the formula for predicting royalty-related estimates such as royalty rate, up-front payment, milestones, and deal value. Data is gathered from multiple sources including MedTrack and is processed through merging and cleaning. We found that the three most important factors in pricing in patent licensing in the biopharmaceutical industry are CAGR (Compound Annual Growth Rate), PDELR (Previous Deal Experience of Licensor), and AR (Attrition Rate). We found that factors in the formula used to estimate the license fee are totally different by drug class. We found that the three most important factors in the frequency in the formula used to estimate the license fee are PDELR, RnDLR (R&D Costs of Licensor), and PDELE (Previous Deal Experience of Licensee). This study suggests a method of estimating the proper royalty rate, up-front payment, milestones, and deal value of the drug candidates of 11 drug classes by using easily obtained input data.

ACS Style

Jeong Hee Lee; Eungdo Kim; Tae-Eung Sung; Kwangsoo Shin. Factors Affecting Pricing in Patent Licensing Contracts in the Biopharmaceutical Industry. Sustainability 2018, 10, 3143 .

AMA Style

Jeong Hee Lee, Eungdo Kim, Tae-Eung Sung, Kwangsoo Shin. Factors Affecting Pricing in Patent Licensing Contracts in the Biopharmaceutical Industry. Sustainability. 2018; 10 (9):3143.

Chicago/Turabian Style

Jeong Hee Lee; Eungdo Kim; Tae-Eung Sung; Kwangsoo Shin. 2018. "Factors Affecting Pricing in Patent Licensing Contracts in the Biopharmaceutical Industry." Sustainability 10, no. 9: 3143.

Journal article
Published: 07 August 2018 in Sustainability
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Previous studies related to open innovation have presented piecewise implications in relation to various knowledge management capacities. The study published by Lichtenthaler and Lichtenthaler in 2009 presented a model that combines the various open innovation capacities of firms in view of a mix of knowledge management, dynamic capability and absorptive capacity. Despite these efforts, there have been few empirical studies on the relationships among capacities, or between capacities and performance from an integrated perspective. Therefore, this study seeks to clarify the relationships among knowledge capacities and between knowledge capacities, technological innovation and financial performance at the firm level. Our findings are that the transformative, connective, inventive and absorptive capacities both directly and indirectly affects technological innovation performance; and innovative and desorptive capacities are the key factors connecting technological innovation to financial performance. This study provides managerial implications for the balanced development of the various knowledge capacities and the improvement of technological innovation and financial performance for firm knowledge managers.

ACS Style

Kwangsoo Shin; Eungdo Kim; Euiseob Jeong. Structural Relationship and Influence between Open Innovation Capacities and Performances. Sustainability 2018, 10, 2787 .

AMA Style

Kwangsoo Shin, Eungdo Kim, Euiseob Jeong. Structural Relationship and Influence between Open Innovation Capacities and Performances. Sustainability. 2018; 10 (8):2787.

Chicago/Turabian Style

Kwangsoo Shin; Eungdo Kim; Euiseob Jeong. 2018. "Structural Relationship and Influence between Open Innovation Capacities and Performances." Sustainability 10, no. 8: 2787.

Journal article
Published: 02 August 2018 in Journal of Open Innovation: Technology, Market, and Complexity
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This research aimed to build a solid basis through analytic hierarchy process (AHP) analysis to develop a reliable and practical valuation model that reflects the characteristics of the biotech industry and propose a reference formula to estimate the license fee by drug class for potential business transactions. In this study, we reviewed 135 related studies and found 167 related determinants. We surveyed 25 or more specialists in the biopharmaceutical industries. The survey group consisted of National Research Institutes (‘Group 1’), Companies (‘Group 2’), and Government Agencies–Universities (‘Group 3’). The average of the total group and Group 3 showed the same tendency at a Level 3 ranking, where the priority in determining the license fee was arranged in the order of ‘the market factor, the technology factor, the financial factor, and the environmental factor’ in light of the factors, and ‘patent characteristics, licensee characteristics, and licensor characteristics’ for the characteristics. We noted that the patent characteristics were primarily significant in technology transactions and their contract fee in the groups (Total, Group 2 and Group 3), followed by licensee characteristics. In terms of the in-depth index, we noted that the development phase and attrition rate, intellectual property tradability, and licensee licensing experience, followed by quality of technology, were the most influential determinants.

ACS Style

Jeong Hee Lee; Tae-Eung Sung; Eungdo Kim; Kwangsoo Shin. Evaluating Determinant Priority of License Fee in Biotech Industry. Journal of Open Innovation: Technology, Market, and Complexity 2018, 4, 30 .

AMA Style

Jeong Hee Lee, Tae-Eung Sung, Eungdo Kim, Kwangsoo Shin. Evaluating Determinant Priority of License Fee in Biotech Industry. Journal of Open Innovation: Technology, Market, and Complexity. 2018; 4 (3):30.

Chicago/Turabian Style

Jeong Hee Lee; Tae-Eung Sung; Eungdo Kim; Kwangsoo Shin. 2018. "Evaluating Determinant Priority of License Fee in Biotech Industry." Journal of Open Innovation: Technology, Market, and Complexity 4, no. 3: 30.