This study examines the relationship between R&D investment and subsequent outputs of the research activity. Usually, there is some time difference between the production of research outputs, such as academic papers and application or registration of patents, and the investment of R&D expenditure. The time lag for producing this kind of research outputs should be considered to evaluate the performance of research activity exactly. The purpose of this study is to identify time lag effect between the times of input and output of a R&D activity and to derive the degree of time lag using the data set of a long term R&D program supported by Korean government. A modified Almon model is suggested to identify the time lag effect between input and output of research activities performed by this program. Time-series cross-section data from 16 research centers between 2001 and 2009 are used to find time lag effect.