Comparative Analysis of Employment Effect about Technology-invested SMEs and General SMEs

This study confirmed whether the employment effect of technology-invested SMEs was significantly different from that of general SMEs from an ex post perspective. Through this, the possibility of expanding the employment effect of the technology appraisal model for investment was confirmed. Through propensity score matching, 1,632 technology-invested SMEs and 1,632 general SMEs were ultimately used in the analysis. The employment effect was used in the analysis by dividing it into absolute employment effect (employment growth rate) and relative employment effect (sales employment coefficient). As a result of the analysis, the employment growth rate of technology-invested SMEs was found to be significantly high and continuous. On the other hand, the sales employment coefficient was high and consistent for technology- invested SMEs, but was not statistically significant. Therefore, it was confirmed that the current technology appraisal model for investment is sufficiently expandable in relation to the absolute employment effect (employment growth rate). In addition, as the sales employment coefficient of technology-invested SMEs continues to remain high, the conclusion was drawn that it is possible to secure discrimination in the relative employment effect (sales employment coefficient) by adjusting the appraisal model.