Research on the Influence of Neurotic Personality in Organization on Team Performance

ZHANG KAI 가천대학교 일반대학원 2022 국내박사

Over the past few years, the study on dark-traid personality in organizations has caught more and more attention of scholars. It can be found from the previous studies that the individual-level neurotic personality in dark-traid personality is independent of work performance, but this individual-level influence may underrate the wide-ranging influence of neurotic personality on organizational performance. For the sake of the assessment of this possibility, this paper probes into how the team-level composition of neurotic personality impacts team cooperation as ell as performance with the big five model. The model data of this paper is collected from the performance statistics of the China Football Association Super League, while the data of neurotic personality is acquired from the players' Weibo, TikTok and TouTiao by web crawler. Through the literature review, research method development, experiments and data statistics, on account of the sub-factor of neurotic perership) and carries out positive research. The study proves that the team-level neurotic personality has an adverse impact on the team's work performance with obvious mediating effect of team cooperation, and the transformational leadership plays a positive regulatory role in the model. To our astonishment, it is contrary to our initial hypothesis that servant leadership does not seem to play a regulatory role. This paper anticipates that the research conclusions can lay down the foundation for the study of dark-traid personality and the team construction of enterprise, and provide empirical support as well as reference for the follow-up detailed personality research..

감정노동이 직무만족도와 이직의향에 미치는 영향 : 부정적 감정의 매개효과를 중심으로

Lu Liu 가천대학교 일반대학원 2022 국내박사

1980년대부터 서구 국가가 제조형 경제에서 서비스형 경제로 변모하면서 조직 내 정서적 문제가 중시됐다.기존 연구들은 긍정적인 정서가 중개 변수로 작용하는 데 중점을 뒀지만 부정적인 정서의 중개 작용에 대한 연구는 많지 않았고, 부정적인 정서의 조절된 중개 효과에 대한 연구는 더 적었다.본 연구는 감정노동, 부정감정, 업무자율성, 업무만족도, 이직의사를 하나의 틀 안에서 설정하고, 감정노동을 심층분담과 표층분담으로 구분함으로써 감정노동을 업무자율적으로 조절하는 소극적인 감정으로 업무만족도와 이직성향을 조절하는 중개역할, 감정노동의 조절역할을 검토한다. 본 연구는 해석변수와 해석변수의 상관관계를 간략히 분석하여 관련 문헌연구 성과를 바탕으로 측도지표를 구축하고, 연구대상으로 유아교사를 실증분석하여 표층역할, 심층역할과 업무만족도 및 이직의사의 영향을 검증하여 부정적인 감정과 업무자율성이 표층역할에 어떻게 영향을 미치는지, 심층역할과 업무만족도 및 이직의사의 상관관계를 전반적으로 분석하였다. 실증 결과 발견: 첫째, 전반적으로 유아교사의 정서적 노동 수준이 높고 표층 배역이 이직 성향에 영향을 미치는 요인, 심층 배역이 업무 만족도를 떨어뜨리는 요인이다.표층 역할은 업무 만족도에 직접적인 영향을 미치지 않는 등 이직 성향에 큰 영향을 미치는 반면, 심층 역할은 업무 만족도에 큰 영향을 미치는 등 이직 성향에 큰 영향을 미치지 않는 것으로 나타났다. 둘째, 부정적인 감정을 통한 중개역할은 업무 만족도에 현저한 플러스 요인으로 작용한다. 셋째, 업무자율성은 업무 만족도에 대한 표층의 부정적 영향을 감소시켜 퇴사 성향에 대한 긍정적 영향을 증가시키고, 업무자율성은 심층적으로 업무 만족도에 대한 긍정적 영향을 증가시킨다. 넷째, 근무자율성은 부정적인 감정에 대한 표층의 영향을 감소시키고, 업무자율에 의해 조절된 부정적인 감정의 표층의 역할이 업무만족도에 미치는 부정적 영향을 중개하면서 부정적 영향이 완화됐다.

Diversification Strategy and Enterprise Performance of Emerging Transnational Corporations: An Empirical Study on the Moderating Effect of Internationalization Experience

ZHANG XIMENG 가천대학교 일반대학원 2021 국내박사

ABSTRACT Diversification Strategy and Enterprise Performance of Emerging Transnational Corporations: An Empirical Study on the Moderating Effect of Internationalization Experience Zhang Ximeng Supervised by Prof. Yang Yi Dept. of Business Administration Graduate School of Gachon University As an important part of corporate strategy, diversification strategy is widely used in corporate business activities. Previous scholars mainly focused on developed countries with mature markets, but for emerging economies with lagging capital market development, it is controversial whether diversification strategy can bring performance improvement. Driven by self-interest and globalization environment, enterprises may extend their business activities to overseas markets while diversifying their operations at home. For emerging multinational diversified companies, there are inherent problems such as lagging capital market development and immature market mechanisms, but what kinds of new problems will they face when facing an unfamiliar international environment? The steps taken in this paper are: First, the research questions of this paper are formulated based on the current development of diversification strategies. Secondly, it reviewed and summarized the related research on diversification and international experience, which laid the theoretical foundation for the research of this article. Third, on the basis of literature review and theoretical analysis, based on resource-based theory and organizational learning theory, we have constructed a theoretical model that includes "related diversification, unrelated diversification, the number of overseas subsidiary territories, the number of years of internationalization and enterprise performance" and propose hypotheses. The fourth part introduces the variables and measurement methods involved in this study. 819 Chinese A-share listed multinational manufacturing companies are selected as the research objects, and the data from 2010-2019 are analyzed by regression analysis and explain the analysis results obtained. Finally, summarize the research conclusions and point out the deficiencies of this research. The results and innovations of this research are as follows: Firstly, different types of diversification operations may have different performance effects on emerging multinational diversified enterprises. This study divides the diversification entropy index into related entropy index and unrelated entropy index, and the regression results show that related diversification operation has a positive effect on enterprise performance, while unrelated diversification operation has a negative effect on enterprise performance. When Chinese listed companies implement unrelated diversification, it does not improve their performance but increases their operating costs. This provides empirical evidence for a comprehensive understanding of the relationship between enterprise performance and diversified operations in China. Secondly, this study emphasizes the importance of international experience for emerging multinational diversified enterprises. Through literature review, this study found that the operation of Chinese diversified enterprises in overseas markets is not always smooth. Through an organizational learning perspective, this study takes international experience as the starting point and divides international experience into the number of overseas subsidiary territories and the number of years of internationalization to be measured, in order to further investigate the moderating role of international experience in influencing the performance of different types of diversified enterprises. The empirical results show that for unrelated diversification that would otherwise reduce enterprise performance, if the company opens overseas subsidiaries in more geographic locations and the internationalization period is longer, the negative relationship between unrelated diversification operations and enterprise performance will be improved. However, the moderating effect of the number of overseas subsidiary territories and the number of years of internationalization is not significant for the related diversification. Keywords: related diversification; unrelated diversification; international experience; enterprise performance

A Study on the Effect of Digital Finance on the Innovation of Small and Medium Sized Enterprises in China

ZHAO JINGJING 가천대학교 일반대학원 2022 국내박사

Innovation is the driving force of economic development, SMEs (SMEs) are an important part of the economy and society, has a strong driving force for innovation, is the new force of technological innovation. With the help of high-tech information technology, Digital Finance efficiently connects the external financial resources of enterprises, which has an important impact on the internal technological innovation of SMEs. Based on the financial data of Peking University Digital Inclusive Financial Index and GEM listed companies from 2011 to 2018, this paper empirically tests the impact of Digital Finance on the innovation of SMEs, and the transmission mechanism of Digital Finance to promote the innovation of SMEs through financing channels. At the same time, considering that the social responsibility of SMEs plays an important role in affecting enterprise innovation investment, this paper applies a fixed-effect model to empirically test the regulatory effect of social responsibility between Digital Finance and the innovation of SMEs.The study shows that Digital Finance promotes technological innovation of SMEs, the transmission role of financing channels shows obvious differences, endogenous financing and debt financing shows complete intermediary effect, but the action mechanism is different. Digital Finance promotes SMEs innovation by increasing endogenous financing, but also by reducing debt financing; equity financing shows partial intermediary effect: Digital Finance not only directly promotes enterprise innovation, but indirectly by increasing equity financing.In addition, the social responsibility performance of small enterprises shows a significant regulatory role. With the improvement of social responsibility, the promotion effect of Digital Finance on innovation investment in SMEs is increasing. Further research found that the performance of shareholder responsibility enhances the promotion role of SMEs; heterogeneous research shows that when the market competition increases, the more social responsibility, the more they can promote enterprise innovation through Digital Finance.The research conclusion of this paper provides theoretical basis and decision-making reference for the government to issue corresponding policies and formulate differentiated financing policies for the future development of Digital Finance and technological innovation of SMEs.

The Impact of Internationalization Behavior on Firm Innovation Performance : An Empirical Study of Chinese Listed Companies

YU JIANING 가천대학교 일반대학원 2021 국내박사

ABSTRACT The Impact of Internationalization Behavior on Firm Innovation Performance: An Empirical Study of Chinese Listed Companies Yu Jianing Supervised by Prof. Yi Yang Dept. of Business Administration Graduate School of Gachon University With the gradual deepening of economic globalization, international trade and foreign investment have become the main way for multinational enterprises to participate in the world market. After nearly 40 years of rapid growth, China's economy is entering a new normal and is about to embark on a new development phase characterized by "medium to high speed, excellent structure, new dynamics and multiple challenges". In the context of the international and domestic double cycle, the increasing stability of the domestic market and the intensification of homogeneous competition among enterprises, internationalization has become the preferred strategy and new power source for Chinese enterprises to seek new economic growth points. The conduct of internationalization helps enterprises to cross national borders and break the domain boundaries, take advantage of the political and economic differences between different nations and countries, and search for the resource environment, intelligence and technological support needed for their own innovation in a larger geographical space, so as to make up for the lack of power and technological shortcomings in their own development and realize the continuous improvement of their own innovation capability. The Chinese government has implemented the "going out" strategy, encouraged enterprises to actively integrate into the fast track of globalization, actively carry out international operations, make inter-international foreign direct investment in the international market, guide capital transfer to the international high-end market, establish product standards and quality systems, strengthen industrial innovation capabilities, and promote rapid transformation and upgrading of domestic industries. Innovation is the first driving force of economic growth, the soul of an enterprise, and the engine of an enterprise to maintain its competitive advantage. In the international context of globalization, diversification, open cooperation, convergence and win-win, and innovation development, the innovation ability of an enterprise mainly depends on the strength of its own R&D team, the strength of its technical force, the investment of R&D capital and the support of domestic policies, but also on the access to overseas R&D resources and market information, in which In this process, the absorptive capacity of enterprises is especially critical, which directly affects whether enterprises can learn advanced technology from overseas knowledge reverse spillover to enhance their innovation capacity. Currently, intellectual property rights granted in the form of patents, copyrights and trademarks are important foundations for the survival, development and development of enterprises into the international market, and are also the hardcore resources and core competitiveness for enterprises to expand into overseas markets. In view of China's special national conditions, the different degrees of market openness and IPR protection in each province, these two dimensions are used as indicators to measure the institutional environment. It is important to study the internationalization behavior, innovation performance, institutional environment and absorptive capacity of firms in a unified framework, which has important implications for how Chinese firms conduct international operations and enhance their own innovation capacity. This study selects data related to 2119 Chinese A-share listed firms from 2008-2018 as a sample to conduct theoretical analysis and empirical tests on the effects of various internationalization behaviors of firms on innovation performance. It also breaks through the traditional resource and learning views to verify the effects of two internationalization behaviors on innovation performance, namely, the development of overseas business and the introduction of senior executives with overseas background, and the moderating effect of the firm's absorptive capacity on the relationship between the firm's internationalization behavior and innovation performance and the constraining effect of the institutional environment on both. The study shows that: ① internationalization behavior is positively correlated with corporate innovation performance, and has a significant promoting and enhancing effect, with the promoting effect of the overseas background of the executive team being stronger than that of overseas business. ②The higher the level of regional intellectual property protection, the stronger the promotion effect of enterprises' overseas business on innovation performance. ③The degree of regional marketization positively regulates the relationship between firms' overseas business and innovation performance. ④The moderating effect of institutional environment on the overseas background of corporate executives and innovation performance is not significant. ⑤ Absorptive capacity positively moderates the relationship between internationalization behavior and innovation performance, and when the firm's absorptive capacity becomes stronger, the internationalization behavior of the firm becomes more significant to its innovation performance. Keywords: Internationalization behavior; innovation performance; institutional environment; level of intellectual property protection; degree of regional marketization; absorptive capacity

정부 보조금이 기업 혁신능력에 미치는 영향에 관한 연구 : 기업혁신 분위기의 매개효과 및 목적 지향적 기업혁신의 조절효과를 중심으로

ZHANG JING LIANG 가천대학교 일반대학원 2021 국내박사

Different government subsidies policies have different advantages and disadvantages. For subsidies policies such as government subsidies and financial subsidies, their advantage is that the gross of subsidies can be planned through the preparation of budgets. And the purpose of subsidies is relatively clear while internal time lags in the implementation process of fiscal policies. In other words, government subsidies and financial subsidies are difficult to benefit all enterprises. Meanwhile, current studies have found that government subsidies can make a substitution effect on R&D activities of the enterprise. Tax preferential policies can make effect on a wider range of the targeted enterprise through market forces. In real practice, tax policies are also the main methods to encourage technological innovation in enterprises for most developed countries in the world. This dissertation focuses on the direct and indirect government subsidies' impact on the innovation capabilities of domestic high-tech enterprises. Since the main subjects of this dissertation are manufacturing enterprises, a questionnaire survey was conducted for local manufacturing enterprises in China. In total, 180 questionnaires were distributed and 170 were returned for further investigation. When making analysis, some questionnaires that were not filled in completely or were filled in with obvious regularity were deleted. A total of 165 valid questionnaires were obtained through screening. The validity rate of the questionnaire was over 90%. Depending on the research results, direct government subsidies can make a negative effect on the innovation capability of the enterprises while indirect government subsidies can make a positive effect on the innovation capability of the enterprise. The corporate innovation can also make intermediary effect on the government's indirect subsidies and corporate innovation capabilities. In other words, government subsidies can help create innovation atmosphere of the enterprise and ultimately improve the enterprise's innovation capabilities. However, this dissertation has found that direct government subsidies cannot make an impact on the innovation atmosphere of enterprises through analysis. On the contrary, indirect government subsidies can make an impact on the innovation atmosphere of enterprises. Instead of attaching a great emphasis on the financial subsidies, financial investment in R&D, the government should also pay fair attention to the tax incentives, the policies of tax reduction and exemption, and tax refund policies. At present, many studies have not divided government subsidies into direct and indirect subsidies. The analysis results of this dissertation can make up for this deficiency. Meanwhile, the mediating effect of the enterprise's goal-orientation was studied in this dissertation. So far, only a few scholars have taken the enterprise's goal-orientation as the research object and divided the goal-orientation of the enterprise into substantial strategies and strategic strategies for further analysis. This dissertation takes enterprise goal-orientation as a moderating variable, and the research found that substantive innovation has no positive regulatory effect on the relationship between government direct and indirect subsidies and corporate innovation capabilities. Moreover, strategic innovation goal-orientation has no adverse effect on the relationship between direct government subsidies and corporate innovation capabilities. On the other hand, strategic innovation can have a reverse effect on the relationship between indirect government subsidies and corporate innovation capabilities. The research results in this thesis provide significant reference for the development of theory and future practice. 부동한 정부 보조정책은 각자의 장점과 단점이 있다. 정부보조와 제정보조 등 공급정책은 예산편성의 방식으로 보조금액을 기획할 수 있어 목적성이 비교적 명확하다. 하지만 제정정책의 집행에는 내부지연이 존재하고 모든 기업에 혜택을 제공하지 못한다. 또한 정부보조가 연구개발 활동에 대체 효과를 낼 수 있다는 연구결과도 있었다. 반면 세제 혜택 정책은 시장의 힘을 통해 작용되며 혜택을 재공하는 기업의 규모가 더욱 광범위하다. 실천 중에서도 세제정책은 세계 다수 선진국이 기업과학혁신을 격려하는 주요수단이다. 본문은 정부보조의 직접보조와 간접보조가 우리나라 선진기술기업 혁신능력에 어떤 영향을 주는지를 중점적으로 연구한다. 본문은 중국의 제조기업을 주 연구대상으로 하며 중국 본토의 제조업기업을 대상으로 설문조사를 진행했다. 총 180분의 설문지를 발부했고 170부를 회수했다. 회수된 설문지에 대해 추가 조사를 진행해 불완전한 설문지와 작성 과정에 규칙이 있는 설문지를 제외한 165분의 유효 설문지를 선별 획득하였다. 설문의 유효율은 90% 이상에 달한다. 연구결과 정부의 직접보조는 기업혁신능력에 부정적인 작용을 주고 직접보조는 기업혁신능력에 긍정적으로 작용하는 것으로 나타났다. 기업혁신분위기는 정부 간접보조와 기업혁신능력에 중개 역할을 한다. 즉 정부보조는 기업의 혁신적 분위기를 만들어 주며 기업의 혁신능력을 제고한다. 하지만 본문의 분석을 통해 정부직접보조는 기업의 혁신분위기에 영향을 미치지 못하고 오히려 정부간접보조가 기업의 혁신능력에 영향을 미친다는 것을 발견했다. 이는 정부가 맹목적으로 자금보조, 제정보조, 연구개발 투자 등으로 기업에 보조를 제공하면 안되고 세제혜택, 세제감면정책, 세액환급정책 등 정책으로 제공해야 한다는 것을 표명한다. 현재 대부분의 문헌은 정부보조를 직접과 간접보조로 세분하지 않았다. 본문의 분석결과는 이 결핍을 마침 보완하였다. 동시에 기업혁신지향목표의 조절작용에 대해서도 연구를 진행하였다. 지금까지 소수의 학자들만이 기업의 지향목표를 연구대상으로 삼고 실질성 책략과 전략성 책략으로 나눠 연구를 진행했다. 본문은 기업의 지향목표를 조절 변수로 삼았다. 연구결과 실질성 혁신은 정부의 직간접보조와 기업혁신능력의 관계에 긍정적 조절 작용이 없으며 책략성 혁신 지향목표는 정부의 직간접보조와 기업혁신능력의 관계에 역향 조절 작용이 없고 책략형성 혁신은 정부 간접보조와 기업혁신능력의 관계에 역향 조절 작용이 있는 것으로 나타났다. 이같은 연구결과는 이론과 실천에 지도적 의의가 있을 것이다.

Research on the impact of corporate social responsibility on the performance of overseas mergers and acquisitions of Chinese enterprises

XIE ZHISHAN 가천대학교 일반대학원 2022 국내박사

CSR (CSR) has an important impact on transnational M&A achievements by affecting stakeholders, enterprise costs and corporate reputation, but there is still a lack of literature on the sound of CSR (CSR) achievements on transnational M&A.In the limited literature on the impact of CSR (CSR) on transnational M&A, Hawn (2016), Deng et al (2013), Liu Haiyan (2010) have concluded a positive impact of CSR (CSR) on transnational merger achievements based on theoretical research, empirical research of American enterprises, and Chinese and American enterprises, respectively.However, Deng Xiuyu et al (2018), based on the empirical research on the cases of Chinese enterprises' multinational M&A, concluded that CSR (CSR) has a negative impact on the achievements of multinational M&A.Compared with western developed countries, the overall CSR (CSR) management of Chinese enterprises is relatively backward. Whether the development of Chinese CSR (CSR) and Chinese CSR (CSR) has a positive impact on the achievements of transnational M&A?What are the causes and mechanisms of this positive effect?In order to answer these questions, this paper is based on Chinese listed companies in 2009-20178 years of listed companies, on the basis of stakeholders theory, institutional theory and M & A and achievements theory, studied the influence of CSR on transnational M and acquisition achievements, while considering the enterprise ownership, bilateral relations, transnational M and acquisition experience and the regulation of intermediary agencies.With the transnational merger achievements as the dependent variable and the CSR score of Runling Global as the independent variable, the conclusion is drawn that the CSR (CSR) has a positive impact on the transnational merger achievements in the Chinese background.The empirical results of the general regression model prove the (state-owned attribute) of the negative adjustment effect of enterprise ownership on the relationship between CSR and transnational merger achievements; and the positive adjustment effect of bilateral political relationship, transnational merger experience and intermediaries on the relationship between CSR and transnational merger achievements is tested.The above research conclusions have certain guiding significance for Chinese enterprises to fulfill their social responsibilities, and also provide a new theoretical perspective on the influencing factors of transnational M & A achievements.

기업 다각화 전략의 결정 요소 및 기업 가치에 대한 영향

LIU NA 가천대학교 일반대학원 2021 국내박사

Modern enterprise system is an important direction for the development of Chinese enterprises, and the implementation of diversification strategy has become an important measure to improve the performance of enterprises. On the other hand, in the development of international enterprises, refocusing is one of the reforms and change trends of many large enterprises in recent years, which is opposite to diversification. In this context, the academic circles have different views on the role of diversification strategy in enterprise value. Based on existing literatures and research theories, this paper studies the diversification strategy of emerging market enterprises from the perspective of corporate governance, and probes into the influence mechanism of government holding, corporate political resources, ownership structure and other factors on corporate diversification strategy. At the same time, this paper further analyzes the impact of diversification strategy on corporate value. And then, this paper constructs a theoretical model that includes the relationship between corporate governance factors, diversification strategy and corporate value, and tests the relevant theories with the collected first-hand empirical data, responding to the relevant viewpoints in the academic circle. Firstly, this paper makes a brief analysis of corporate governance, diversification strategy and enterprise value, and reviews the relevant theoretical research results. After that, this paper defines the concepts of corporate governance, diversification strategy and enterprise value, constructs the measurement indicators through theoretical analysis, and puts forward the relevant assumptions of this research. Finally, combined with the collected empirical data of Chinese listed companies from 2010 to 2017, this paper mainly uses the method of panel regression to conduct in-depth empirical analysis on the hypothesis, and verifies the influence of corporate governance factors on enterprise diversification and diversification strategy on enterprise value. At the same time, This paper studies the regulatory effect of regional marketization degree and industrial competition degree on the influence of corporate governance factors on enterprise diversification. The results show that the factors related to corporate governance have a significant impact on the degree of corporate diversification, and there is a significant positive correlation between diversification and enterprise value. From the specific research results, we can see that :(1) the enterprise whose CEO/ chairman once or now worked in the government/army/CPPCC has a relatively high degree of diversification.(2) There is a significant negative correlation between the degree of ownership concentration and the degree of diversification.(3) The more intense the industry competition is, the greater the influence of the government's direct holding on the degree of enterprise diversification.(4) The more intense the industry competition, the weaker the influence of political resources on the degree of enterprise diversification.(5) The higher the degree of marketization, the weaker the influence of government direct control on enterprise diversification.(6) The higher the degree of marketization, the greater the influence of ownership concentration on the degree of diversification of listed companies.(7) Compared with single-business companies, the enterprise value of diversified companies is significantly higher.(8)There is an "inverted U-shaped" relationship between enterprise diversification and enterprise value. 현대화 된 기업 제도는 중국 기업 발전의 중요한 방향이며, 다각화 전략의 실행은 이미 기업 경영의 성과를 높이는 중요한 요소가 되었다. 세계적으로 각국 기업들의 발전 과정을 살펴보면 다각화 전략에 재집중하는 것이 최근 몇 년 동안 많은 대기업들이 개혁과 변천을 위해 행하는 추세 중 하나가 되어버렸다. 하지만 이러한 배경에서 다각화 전략이 기업 가치의 향상을 위해 어떠한 역할을 하고 있는지에 대한 학계의 시각은 엇갈리고 있다. 본문은 기존에 있던 문헌이나 연구자료 등의 이론에 기초해 회사 경영 관점에서 신흥 시장국가 기업의 다각화 전략을 연구하고, 정부의 기업지배구조, 기업의 정치적 요소, 지분 구조 등의 요인이 회사 다각화 전략에 미치는 메커니즘을 심도 있게 검토했다. 동시에 다각화 전략이 회사 가치에 미치는 영향도 분석했다. 이러한 분석을 통해 회사의 지배요인, 다각화 전략과 기업 가치의 연관성에 관한 모델을 이론적으로 구축하고, 수집한 실증적 데이터를 결합하여 관련 이론을 검증 하였으며, 학계의 관점 또한 반영하였다. 다음으로 본문을 통해서는 회사의 지배구조, 다각화 전략 및 기업 가치 등의 개념을 정하고, 이론적 분석을 통해 예상 지표를 구축하여, 본 연구의 관련 가설을 제시하였다. 마지막으로 2010년부터 2017년까지 중국 상장회사의 실증적 데이터를 결합한 후 패널회귀분석 방법을 이용하여 가설을 심층적으로 분석하였다. 회사 경영과 관련된 요소들이 기업의 다각화에 현저한 영향을 끼친다는 연구 결과가 나왔다. 구체적인 연구 결과를 보면 (1)CEO또는 이사장이 정부기관/군/정협에 몸담고 있는 기업의 다각화가 상대적으로 활발한 것으로 나타났다. (2)기업의 지분 집중도와 다각화 사이에는 현저한 마이너스 상관관계가 나타난다. (3)업계의 경쟁이 치열할수록 정부의 기업지배구조가 기업 다각화에 미치는 영향은 크다. (4)업계의 경쟁이 치열할수록 기업의 정치적 요소가 다각화에 미치는 영향은 미미하다. (5)시장화가 높을수록 정부의 기업지배구조가 기업 다각화에 미치는 영향은 적다. (6)시장화가 높을수록 주식 집중도가 상장회사의 다각화에 미치는 영향은 크다. (7)다각화 기업의 가치는 단일 업종 기업에 비해 현저히 높다. (8)기업 다각화와 기업 가치 사이에는 `역U자형`의 관계가 형성된다.

중국 기업의 해외 인수합병 위험 회피에 관한 연구 : “푸싱그룹” 및 “지리홀딩그룹”의 인수합병 사례의 대비와 연구

탁월 가천대학교 일반대학원 2020 국내석사

“일대일로” 이니셔티브의 계속적인 심화는 연선 국가와 지역의 투자환경을 개선하여 중국 기업의 해외 인수 합병에 다른 경영위험을 낮추어 중국 기업의 해외 인수 합병을 위한 전략적 기회와 강력한 정책 조합을 제공할 것이다. 그러나 중국 기업들은 해외 인수합병 규모를 확장하는 동시에 직면하고 있는 인수합병 리스크 문제를 계속 배출하고 있으며 실패하는 경우도 적지 않다. 해외 인수합병 리스크에 대한 식별과 통제를 강화하여 정부 감독 부문과 기업이 반드시 해결해야 할 종요한 문제이다. 분 문서는 국내외 기업의 해외 인수합병에 관한 문헌과 기업 인수합병 개념, 기업 인수합병 리스크에 관한 이론을 정리한 것으로 사례 분석을 통해 “푸싱그룹”이 “피닉스 홀딩스”을 인수합병에 의사결정부터 시행까지 또다시 인수합병 포기를 선고한 과정을 요약한다. “푸싱그룹”이 “피닉스 홀딩스”을 인수합병의 과정에서 직면했던 정치적 리스크, 노동 리스크와 사회적 여론 리스크를 정리하여 기타 중국 기업이 해외 인수합병의 성공 사례를 이용해서 대비와 분석을 했다. 중국 기업이 “일대일로”에서 해외 인수합병을 하는 것에 대해 어떻게 위험을 회피할 것인가에 대한 대책을 제안한다. 일대일로 이니셔티브는 중국 기업 특히 민영기업이 글로벌한 배치를 실현할 수 있는 가장 좋은 계기가 되며 전략적 목표 전환을 가속화하고 경영 관리 능력과 기술 수준을 제고함으로써 자체 브랜드를 지속적으로 강화하여 사전에 방비하는 것은 더욱 유의해야 하며 적극적이고 효과적인 조치를 취하여 해외 인수합병의 장애와 위험을 회피하고 진정으로 기업이 글로벌화되는 것을 실현한다. 키워드: “일대일로”; 민영기업; 해외 인수합병; “부싱그룹”

혁신지향적 제도적 환경이 외국인직적투자와 기업 혁신에 대한 조절효과

劉芳 가천대학교 일반대학원 2022 국내박사

이노베이션 드라이브 발전 전략을 실시한 이래, 중국은 끊임없이 혁신 환경을 최적화하고, 기업의 과학 연구 혁신을 장려하며, 중국 경제의 지속적인 건전한 발전을 촉진하고, 기존 문헌에서도 이노베이션을 장려하는 관련 제도가 기업의 혁신에 직접적인 영향을 미치는 것에 대해 토론을 진행하였으나, 전면 "이노베이션 드라이브의 제도 환경"에 대한 분석, 실증 및 IFDI 과잉과 기업의 혁신 성과와 조화 작용에 대한 연구는 부족하다.이 글은 이노베이션 드라이브 발전 전략의 배경 아래 형성된 중국 특색의 '이노베이션 드라이브 제도 환경'에 초점을 맞춰 외국인직접투자(IFDI)와 중국 기업의 혁신 관계를 조정하는 역할을 한다. 실증 결과, IFDI의 초과가 중국 본토 기업의 혁신성과에 긍정적인 영향을 미치고 있다는 것을 발견한다. 각 성의 이질적인 제도 환경은 IFDI의 초과와 혁신성과의 상관관계를 서로 다르게 조절할 것이다.직간접적인 혁신 구동형 제도 환경은 모두 IFDI와 기업의 혁신 성과에 대한 긍정적 초과 관계에 대해 긍정적인 조절 작용을 하여 "혁신 구동 발전"에 대한 실증적인 검증 결과를 제공한다.