The Impact of Corporate Strategies and Government Support Policies on the Corporate Performance: Focusing on Certification of Innovation

기업의 전략 및 정부 지원 정책이 기업 성과에 미치는 영향: 혁신형 인증을 중심으로

  • Received : 2016.01.11
  • Accepted : 2016.02.26
  • Published : 2016.02.29

Abstract

Companies strive to have the ability to flexibly respond to environmental changes in modern society with its rapidly changing business environment. That is, companies try to achieve the corporate performance by using a variety of strategies since companies that don't go along with changes in industry are likely to fall behind. Also, the corporate performance is a key element in national competitiveness, and government is willing to support companies to maximize their performance in various ways. This study examines whether there is a difference between corporate strategies and government policies according to the retention and the type of certification of innovation. The company's strategy configuration effort is largely divided into exploration and exploitation of external knowledge, while the government's policy is divided into direct support, indirect support, and financial support. The corporate performance is analyzed using technological performance; innovative perspective and the sales; and the actual corporate performance as proxy variables. As a result, the variable affecting the performance differs according to the retention of certification of innovation. The variable affecting the corporate performance differs according to the type of certification of innovation as well. Therefore, it was found that companies can achieve the corporate performance by considering the situation at hand and the differentiated action strategies depending on the type of certification of innovation.

비즈니스 환경이 급변하는 현대사회에서 기업은 환경변화에 유연하게 대처할 수 있는 역량을 갖추고자 노력한다. 즉, 산업 변화에 따라 변화를 모색하지 않는 기업은 도태될 우려가 있기 때문에, 다양한 전략을 구사하여 기업의 성과를 달성하고자 한다. 또한 기업의 성과는 국가 경쟁력의 주요한 핵심 요소이며, 정부도 기업 성과 극대화를 위해 다양한 지원을 아끼지 않는다. 이에 본 연구는 혁신형 인증 보유 유무 및 보유 유형에 따라 성과 달성을 위한 기업의 전략과 정부의 정책에 차이가 있는가를 살펴보고자 한다. 기업의 전략 구성 노력을 크게 외부지식을 탐색하고 활용하는 정도로 구분하였고, 정부의 정책은 직접지원, 간접지원, 재정지원으로 나누어 살펴보았다. 기업의 성과는 혁신적인 관점의 기술성과와, 기업의 실질적인 성과인 매출액을 대리변수로 활용하여 경영성과를 분석하였다. 분석 결과, 혁신형 인증 보유 유무에 따라 성과에 영향을 미치는 변수가 상이한 것으로 나타났다. 또한 혁신형 인증 유형별로 기업의 성과에 영향을 미치는 변수가 상이한 것으로 나타났다. 기업은 환경에 따라 기술의 발달 및 변화속도가 달라지기 때문에 발생하는 문제들을 매번 자체적으로 해결하는데 한계가 있다. 이에 기업은 효과적으로 외부지식을 탐색 및 활용 할 수 있어야 하며, 장기적 관점에서 내부 지식뿐만 아니라 외부 지식 기반 및 수준도 고려해야 한다는 시사점을 얻을 수 있었다. 따라서 기업들이 처한 상황 및 혁신형 인증 유형별로 차별화된 행동 전략을 고려해야 기업의 성과를 달성할 수 있음을 알 수 있었다.

Keywords

References

  1. Aguilar, F. J.(1967). Scanning the Business Environment, England: Macmillan.
  2. Audretsch, D. B. & Vivarelli, M.(1994). Small Firms and R&D Spillovers: Evidence From Italy, Revue D'economie Industrielle, 67(1), 225-237. https://doi.org/10.3406/rei.1994.1520
  3. Barney, J.(1991). Firm Resources and Sustained Competitive Advantage, Journal of management, 17(1), 99-120. https://doi.org/10.1177/014920639101700108
  4. Chen, K. & Guan, J.(2011). Mapping the Innovation Production Process From Accumulative Advantage to Economic Outcomes: A Path Modeling Approach, Technovation, 31(7), 336-346. https://doi.org/10.1016/j.technovation.2011.03.004
  5. Chesbrough, H.(2003). The Logic of Open Innovation: Managing intellectual property, California Management Review, 45(3), 33-58. https://doi.org/10.2307/41166175
  6. Christiansen, C.(1997). The Innovator's Dilemma, Boston: Harvard Business School Press.
  7. Cohen, W.(1995). Empirical Studies of Innovative Activity, Cambridge: Blackwell.
  8. Dosi, G., Freeman, C., Nelson, R. R., Silverberg, G. and Soete, L.(1988). Technology and economic theory, London: Pinter
  9. Edler, J. & Georghiou, L.(2007). Public Procurement and Innovation-Resurrecting the Demand Side, Research Policy, 36(7), 949-963. https://doi.org/10.1016/j.respol.2007.03.003
  10. Faems, D., Van Looy, B. and Debackere, K.(2005). Interorganizational Collaboration and Innovation: Toward a Portfolio Approach, Journal of product innovation management, 22(3), 238-250. https://doi.org/10.1111/j.0737-6782.2005.00120.x
  11. Feldman, R.(1994). Measures of External Competitiveness for Germany, IMF Working Paper, 1-34.
  12. Galende, J.(2006). Analysis of Technological Innovation from Business Economics and Management, Technovation, 26(3), 300-311. https://doi.org/10.1016/j.technovation.2005.04.006
  13. Gore, A.(1993). From Red Tape to Results: Creating a Government that Works Better & Costs Less: Executive Summary: the Report of the National Performance Review, Pennsylvania: DIANE.
  14. Guellec, D. & Van P. D. L. P. B.(2003). The Impact of Public R&D Expenditure on Business R&D, Economics of Innovation and New Technology, 12(3), 225-243. https://doi.org/10.1080/10438590290004555
  15. Hadjimanolis, A.(2000). A Resource-Based View of Innovativeness in Small Firms, Technology Analysis & Strategic Management, 12(2), 263-281. https://doi.org/10.1080/713698465
  16. Hall, B. H.(1993). R&D Tax Policy During the 1980s: Success or Failure?, Tax Policy and the Economy, 7, 1-36. https://doi.org/10.1086/tpe.7.20060628
  17. Hall, L. A. & Bagchi, S. S.(2002). A Study of R&D, Innovation and Business Performance in the Canadian Biotechnology Industry, Technovation, 22(4), 231-244. https://doi.org/10.1016/S0166-4972(01)00016-5
  18. Heo, E. N., Bae, W. S. & Lee, Y. S.(2002). An Analysis on Effect of Government-funded Research Program: Case of Energy Conservation Technology Research Program, Journal of Korea Technology Innovation Society, 5(2), 152-166.
  19. Hoffman, K., Parejo, M., Bessant, J. & Perren, L.(1998). Small Firms, R&D, Technology and Innovation in the UK: a Literature Review, Technovation, 18(1), 39-55. https://doi.org/10.1016/S0166-4972(97)00102-8
  20. Hwang, N. W., Lee, J. M. & Kim, Y. B.(2014). Effect of Technological Collaboration on Firm's Product Innovation Output: The Moderating Roles of Appropriability, Journal of Korea Technology Innovation Society, 22(1), 59-87.
  21. Jeong, S. W. & Won, J. H.(2015). Impacts of Capabilities on International Performance in Korean Small Venture Firms: Moderating Effects of Market and Technology Turbulence, Asia-Pacific Journal of Business Venturing and Entrepreneurship, 10(2), 97-105. https://doi.org/10.16972/apjbve.10.2.201504.97
  22. Kang, K. H., Choi, S. C. & Kang, J. A.(2015). How Does Knowledge Depth/Breadth Moderate Between Alliance Intensity and Innovative Performance?, Korean Society of Strategic Management, 18(1), 31-55.
  23. Kang, S. W. & Lee, K. H.(2012). A Comparative Study on SMEs' Innovation Accreditation System and Policy: Implications for SMEs' Development Policy and Strategy, Journal of Creativity and Innovation, 5(2), 1-36.
  24. Katila, R. & Ahuja, G.(2002). Something Old, Something New: A Longitudinal Study of Search Behavior and New Product Introduction, Academy of management journal, 45(6), 1183-1194. https://doi.org/10.2307/3069433
  25. Kim, Y. B. & Ha, S. W.(2000). Types of Korean Ventures: An Empirical Analysis on Ventures Designated by Korean Government, Korean Society of Strategic Management, 3(1), 25-60.
  26. Kim, I. S., Kim, S. H. & Cho, Y. M.(2011). The Effect of the Inno: Biz Certificate on Management Performance -in the KOSDAQ Market, Korea Accounting Information Association, 29(1), 183-210.
  27. Kydland, F. E. & Prescott, E. C.(1982). Time to Build and Aggregate Fluctuations, Journal of the Econometric Society, 50(6), 1345-1370. https://doi.org/10.2307/1913386
  28. Laursen, K. & Salter, A.(2004). Searching High and Low: What types of Firms Use Universities as a Source of Innovation, Research Policy, 33(8), 1201-1215. https://doi.org/10.1016/j.respol.2004.07.004
  29. Laursen, K. & Salter, A.(2006). Open for Innovation: the Role of Openness in Explaining Innovation Performance Among UK Manufacturing Firms, Strategic Management Journal, 27(2), 131-150. https://doi.org/10.1002/smj.507
  30. Lee, B. H. Lee, S. W. & Wi, S. A.(2014). The Effect of Government R&D Support on SMEs' Technological Innovation Performance in Korea, Asia-Pacific Journal of Business Venturing and Entrepreneurship, 9(5), 157-171.
  31. Lee, M. H.(2008). Duplicate Support of SME Financing Policy Type Effects, The Korean Association For Public Administration, 2008 Summer Conference.
  32. Lee, S. Y. & Seo, S. H.(2011). Factors Influencing the Performance of Interfirm R&D Cooperation Supported by the Government, Journal of Korea Technology Innovation Society, 14(3), 664-688.
  33. Leiponen, A. & Helfat, C. E.(2010). Innovation Objectives, Knowledge Sources, and the Benefits of Breadth, Strategic Management Journal, 31(2), 224-236. https://doi.org/10.1002/smj.807
  34. Leonard-Brton, D.(1992). Core Capabilities and Core Rigidities: A Paradox in Managing New Product Development. Strategic Management Journal, 13(S1), 111-125.
  35. Lerner, J.(2002). When Bureaucrats Meet Entrepreneurs: the Design of Effective Public Venture Capital 'Programmes, The Economic Journal, 112(477), F73-F84. https://doi.org/10.1111/1468-0297.00684
  36. Love, J. H. & Roper, S.(1999). The Determinants of Innovation: R & D, Technology Transfer and Networking Effects, Review of Industrial Organization, 15(1), 43-64. https://doi.org/10.1023/A:1007757110963
  37. March, J. G.(1991). Exploration and Exploitation in Organizational Learning, Organization Science, 2(1), 71-87. https://doi.org/10.1287/orsc.2.1.71
  38. Miller, D., De Vries, M. F. K. & Toulouse, J. M.(1982). Top Executive Locus of Control and Its Relationship to Strategy-Making, Structure, and Environment, Academy of Management journal, 25(2), 237-253. https://doi.org/10.2307/255988
  39. Moon, S. W.(2011). How Does Openness Influence Innovation of Korean Manufacturing Firms?, Journal of Korea Technology Innovation Society, 14(1), 711-735.
  40. Naman, J. L. & Slevin, D. P.(1993). Entrepreneurship and the Concept of Fit: A Model and Empirical Tests, Strategic management journal, 14(2), 137-153. https://doi.org/10.1002/smj.4250140205
  41. Nelson, R. R. & Winter, S. G.(1982). An Evolutionary theory of Economic Change, Cambridge: Belknap Harvard.
  42. Nieto, M. J. & Santamaria. L.(2007). The Importance of Diverse Collaborative Networks for the Novelty of Product Innovation, Technovation, 27(6), 367-377. https://doi.org/10.1016/j.technovation.2006.10.001
  43. Oh, S. H., Sim, D. N. & Kim, K. N.(2015). Study on the Overlapping Effect of Certification Policies: Focusing on the ICT Industry, Journal of Korea Technology Innovation Society, 18(2), 358-386.
  44. Osborne, D. & Gaebler, T.(1992). Reinventing Government: How the Entrepreneurial Spirit is Transforming Government, Oxford: Adison Wesley.
  45. Park, S. Y., Park, H. W. & Cho, M. H.(2006). The Relationship Between Technology Innovation and Firm Performance of Korean Companies Based on Patent Analysis, Journal of Korea Technology Innovation Society, 9(1), 1-25.
  46. Rosegger, G.(1996). Firms' Information Sources and the Technology Life Cycle, International Journal of Technology Management, 12(5-6), 704-716.
  47. Seo, H. J.(2006). The Sources of Innovation and Spillover Effects: Firm-Level Panel Data Analysis(Pub. No. 2005-15), Seoul: KISTEP.
  48. Seong, T. K.(2005). The Determinants of Firm's Innovative Activity: A Comparison of High Technology Industries and Low Technological Industries, Journal of Industrial Economics and Business, 18(1), 339-360.
  49. Shin, D. Y. & Park, S. C.(2003). The Effects of Exploration and Exploitation on R&D Performances, Korean Society of Strategic Management, 6(1), 93-126.
  50. Tether, B. S.(2002). Who Co-Operates for Innovation, and Why: an Empirical Analysis. Research policy, 31(6), 947-967. https://doi.org/10.1016/S0048-7333(01)00172-X
  51. Tuominen, M., Rajala, A. & Moller, K.(2004). How does Adaptability Drive Firm Innovativeness?, Journal of Business Research, 57(5), 495-506. https://doi.org/10.1016/S0148-2963(02)00316-8
  52. Wang, Q. & von Tunzelmann, N.(2000). Complexity and the Functions of the Firm: Breadth and Depth, Research Policy, 29(7), 805-818. https://doi.org/10.1016/S0048-7333(00)00106-2
  53. Wernerfelt, B.(1984). A Resource-Based View of the Firm, Strategic Management Journal, 5(2), 171-180. https://doi.org/10.1002/smj.4250050207
  54. Witt, U.(2003). Economic Policy Making in Evolutionary Perspective, Journal of Evolutionary Economics, 13(2), 77-94. https://doi.org/10.1007/s00191-003-0148-x
  55. Yu, T. W. & Yang, D. W.(2009). An Empirical Study on the Relationship Among Technology Innovation Capability, Technology Performance and Economic Performance, Journal of Entrepreneurship and Venture Studies, 12(4), 69-93.
  56. Yu, Y. W. & Noh, J. H.(2011). Analysis of Difference in Effect of Venture Certification and Innobiz Certification of Manufacturing Venture Enterprise, Journal of Korea Technology Innovation Society, 14(1), 1000-1023.