April 25, 2024

Economics Student Receives CGB PhD International Research Award

The Center for Global Business (CGB) proudly announces the recipient of this year's CIBE PhD International Research Award: Chan Kim, a fifth-year student in the Economics PhD program at the University of Maryland College Park. Kim's groundbreaking proposal delves into the intricate dynamics of international trade, industrial organization, innovation, and productivity growth, addressing critical questions at the heart of U.S. businesses' global competitiveness.

“U.S. businesses’ global competitiveness and overall economic growth are closely tied to their ability to innovate,” says Kim. “Critical to this process are Research and Development (R&D), though they serve different purposes. Research fosters new scientific knowledge, while development applies this knowledge to improve or invent products.”

Kim's research focuses on the evolving landscape of R&D investments within U.S. firms and its implications for long-term innovation capacity and competitiveness. He adeptly navigates the complex interplay between research, which generates broad scientific knowledge, and development, which applies this knowledge to create or enhance products.

The core of Kim's proposal lies in his meticulous analysis of the declining research intensity among U.S. businesses in recent decades, juxtaposed against the surge in development activities. Drawing on comprehensive data and sophisticated modeling techniques, Kim sheds light on the underlying factors driving this trend and its ramifications for both short-term profitability and long-term innovation potential.

“One of Kim's seminal contributions lies in his examination of the nexus between globalization and firms’ innovation strategies,” points out his mentor, Associate Professor of Economics, John Shea. “His research illuminates how intensified global competition compels firms to recalibrate their R&D investments, favoring development efforts over research pursuits.”

Moreover, Kim’s interdisciplinary approach synthesizes insights from various fields such as international trade theory, industrial organization, and innovation economics. This comprehensive approach enables him to develop a robust analytical framework. By clarifying the factors influencing firms' decisions regarding research and development investments, Kim’s model offers valuable insights for crafting effective innovation and trade policies that support the long-term competitiveness of U.S. businesses on the global stage.

The Center for Global Business at the Smith School of Business provides funding for PhD research that aligns with the mission of the CIBE grant, to contribute to the internationalization of business disciplines and/or the global competitiveness of U.S. businesses.

The PhD Award is supported in part by CIBE, a Title VI grant from the U.S. Department of Education.

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About the University of Maryland's Robert H. Smith School of Business

The Robert H. Smith School of Business is an internationally recognized leader in management education and research. One of 12 colleges and schools at the University of Maryland, College Park, the Smith School offers undergraduate, full-time and flex MBA, executive MBA, online MBA, business master’s, PhD and executive education programs, as well as outreach services to the corporate community. The school offers its degree, custom and certification programs in learning locations in North America and Asia.

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