• Energy Research

Introduced autonomous and connected vehicles equipped with emerging technologies are expected to change the automotive market. In this study, using stated preference (SP) data collected from choice experiments conducted in Korea with a mixed multiple discrete-continuous extreme value model (MDCEV), we analyzed how the advent of next-generation of vehicles with advanced vehicle technologies would affect consumer vehicle choices and usage patterns. Additionally, ex-ante market simulations and market segmentation analyses were conducted to provide specific management strategies for next-generation vehicles. The results showed that consumer preference structures of conventional and alternative fuel types primarily differed depending on whether they were drivers or non-drivers. Additionally, although the introduction of electric vehicles to the automobile market is expected to negatively affect the choice probability and mileage of other vehicles, it could have a positive influence on the probability of purchasing an existing conventional vehicle if advanced vehicle technologies are available.

Past studies examining survival factors of biotechnology firms have focused on pioneer countries, such as the USA, the UK and Germany. However, as the biotechnology industry in Asia is reaching the take-off stage and showing a high growth rate, the research on survival factors in the context of Asian latecomers is needed. The present research investigates internal and external factors affecting the survival of SMEs (Small and Medium-sized Enterprises) in the biotechnology industry in South Korea. The Cox hazard model was employed to perform a robust estimation in survival analysis. The analysis of internal factors showed that the origin of a firm (i.e., having prior experience or spin-offs) and the business sub-sector (i.e., platform-based) affect the hazard rates of biotechnology firms. In terms of external factors, unlike strategic alliances, government R&D funding lowered hazard rates for the firm’s survival. Additionally, considering that the reasons of firm exit can be divided into bankruptcy and M&A (Mergers and Acquisitions), the different effects of origins from other firms and strategic alliance for firm survival are confirmed. The results suggest that prior experience, platform-based and constant government R&D funding contribute to the sustainable development of SMEs in the biotechnology industry.