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University start-ups include faculty and student start-ups. Earlier research on universities’ roles in start-ups was focused on faculty. When student start-ups outperform faculty start-ups, the resources affecting these start-ups, and their relationship, should be analyzed. This study investigates the determinants of faculty and student start-ups, comparing key resources and exploring whether faculty start-ups affect student start-ups and vice versa, as well as whether the relevant resources interact, using panel data from 92 Korean universities from 2012 to 2018. Resource variables including labor costs, bonuses, research expenses, laboratory expenses, equipment costs, and technology transfer offices were used as explanatory variables. Additionally, for faculty start-ups, central and local government funds, science citation indices, patents, technology revenues, and student start-ups were used as explanatory variables. For student start-ups, university funding, government funding, start-up clubs, Capstone Design funding, and faculty start-ups were used as explanatory variables. Using these start-ups as endogenous variables in estimations, this study adapts a simultaneous equation model with panel data, analyzing it with three-stage least square regression method. Faculty labor costs and central and local government research funds significantly positively affect faculty start-ups. Support funding, start-up clubs, and technology transfer offices significantly positively affect student start-ups. Results show that faculty start-ups significantly affect student start-ups, but there is no influence from student start-ups on faculty start-ups.
Yoonseock Lee; Young-Hwan Lee. University Start-Ups: The Relationship between Faculty Start-Ups and Student Start-Ups. Sustainability 2020, 12, 9015 .
AMA StyleYoonseock Lee, Young-Hwan Lee. University Start-Ups: The Relationship between Faculty Start-Ups and Student Start-Ups. Sustainability. 2020; 12 (21):9015.
Chicago/Turabian StyleYoonseock Lee; Young-Hwan Lee. 2020. "University Start-Ups: The Relationship between Faculty Start-Ups and Student Start-Ups." Sustainability 12, no. 21: 9015.
University research is a vital source of innovation, and government funds are often used to support innovative research programs. As such, universities are pressured to demonstrate returns on investments through tangible research outcomes. This study analyzed how university resources affect research productivity, using data from 95 4-year universities in Korea from 2009 to 2017. Explanatory variables were remuneration, performance-based payments, and expenditures on research, experiments, machines, and books. Research productivity indices were the numbers of Korea Citation Index (KCI) and Science Citation Index (SCI) publications, authored books, patents attained, and licensing revenue. Considering that research productivity measures are related, this study used a seemingly unrelated regression (SUR) model. The SUR model analysis showed that SCI, patents, and licensing revenue were correlated and resources differentially affected research productivity. Full-time faculty remuneration, performance-based payments, and research expenditure were significant variables in determining SCI, patents, and licensing revenue. Results of quadratic form regression showed that research productivity increased when full-time faculty remuneration increased, but these gains were limited by the law of marginal diminishing returns. However, the performance-based payment variable showed opposite results, reflecting the law of marginal increasing returns. Combined results will help universities set their strategic direction, efficiently allocate their resources, and promote understanding about university functions.
Young-Hwan Lee. Determinants of research productivity in Korean Universities: the role of research funding. The Journal of Technology Transfer 2020, 1 -25.
AMA StyleYoung-Hwan Lee. Determinants of research productivity in Korean Universities: the role of research funding. The Journal of Technology Transfer. 2020; ():1-25.
Chicago/Turabian StyleYoung-Hwan Lee. 2020. "Determinants of research productivity in Korean Universities: the role of research funding." The Journal of Technology Transfer , no. : 1-25.
This study examined the effect of tuition fee control policy on universities’ financial management. Using data from 93 private universities in Korea from 2006 to 2015, we investigated the effect of tuition fees and government subsidies on labor cost, operating expenses, research expenses, and so on. Based on principal and agency theory, we used the analysis of average percentage change in expenditure and panel data analysis with the help of a Least Squares Dummy Variable (LSDV) model and polynomial regression. The results show that the increase rate of tuition fees decreased after 2011, with government subsidies increasing. The LSDV analysis indicates that universities increase labor costs, operating expenses, and student support fees, while there are no differences in research expenses, laboratory fees, and expenditures from investments and other assets. Polynomial regression reveals that, based on resources, universities behave differently in their spending. With these results, this study suggests a method to lessen information asymmetry and goal conflict, such as a performance-based research system and an incentive-based budget system in universities.
Young-Hwan Lee; Kwon-Sik Kim; Kwang-Hoon Lee. The Effect of Tuition Fee Constraints on Financial Management: Evidence from Korean Private Universities. Sustainability 2020, 12, 5066 .
AMA StyleYoung-Hwan Lee, Kwon-Sik Kim, Kwang-Hoon Lee. The Effect of Tuition Fee Constraints on Financial Management: Evidence from Korean Private Universities. Sustainability. 2020; 12 (12):5066.
Chicago/Turabian StyleYoung-Hwan Lee; Kwon-Sik Kim; Kwang-Hoon Lee. 2020. "The Effect of Tuition Fee Constraints on Financial Management: Evidence from Korean Private Universities." Sustainability 12, no. 12: 5066.
This study analyzes the relationship between governmental financial support and university performance to determine whether the former enhances the latter or if universities enhance performance to attain government financial support. The types of financial support to universities considered in this study include those from central and local governments. University performance is defined in terms of the job-finding rates of students, number of publications in South Korean academic journals per full-time faculty member, and number of publications in SCI journals per full-time faculty member. This study uses financial support data of 148 universities from 2009 to 2017. To investigate the relationship between university financial support and performance, we use panel Granger causality testing and panel vector auto-regressive modeling. The results show that both central and local governmental financial support have an endogenous association with students’ job-finding rates. However, local governmental financial support and research performance show a reverse causality association.
Young-Hwan Lee; Hyung-Kee Kim. Financial Support and University Performance in Korean Universities: A Panel Data Approach. Sustainability 2019, 11, 5871 .
AMA StyleYoung-Hwan Lee, Hyung-Kee Kim. Financial Support and University Performance in Korean Universities: A Panel Data Approach. Sustainability. 2019; 11 (20):5871.
Chicago/Turabian StyleYoung-Hwan Lee; Hyung-Kee Kim. 2019. "Financial Support and University Performance in Korean Universities: A Panel Data Approach." Sustainability 11, no. 20: 5871.