What drives researcher preferences for chemical compounds? Evidence from conjoint analysis.

We investigated the attributes and attribute levels that affect researcher preferences for chemical compounds. We conducted a conjoint analysis on survey data of Korean researchers using chemical compounds from the Korean Chemical Bank (KCB). The analysis estimated the part-worth utility for each attribute's level, calculated relative importance of attributes, and classified user segmentation with different patterns.

Do public subsidies trigger firms' overinvestment? Evidence from the Korean renewable energy technology industry.

We empirically investigate whether government subsidies result in firms' overinvestment using unbalanced panel data from 61 renewable energy technology firms in Korea between 1991 and 2018. Considering the diagnostic test results, we build a panel vector autoregression model and test how overinvestment is influenced by research and development and non-research and development government subsidies and the interactions between subsidies, leverage, and free cash flow. We find that these subsidies do not significantly induce overinvestment by firms.