R&D 전략의 형태가 기업 재무성과에 미치는 영향에 관한 연구

다국어 초록 (Multilingual Abstract)

In Schumpeterian competition, superior profit arises from successful innovation created by firm's R&D strategy. Such R&D strategy diverges as time passes. This study examines empirically the effects of diverged forms of R&D strategy such as technological assets, technological diversity, and technological similarity on firm performance in Korean pharmaceutical industry.
With the financial and patent data of 96 firms for 14 years from 1994 to 2007, we measured variables. And then we performed panel analysis with 3 years lag between dependent variable and other variables.
The result shows that firm performance increases as technological asset and technological diversification increase. But technological similarity positively affects on firm performance in opposition to our hypothesis. We interpret and discuss these results and highlight the theoretical and practical implications of our findings.

목차 (Table of Contents)

• Abstract
• 1. 서론
• 2. 이론적 배경 및 가설
• 3. 연구방법
• 4. 결과
• 5. 결론 및 시사점
• 참고문헌

참고문헌 (Reference)

1 이진주, "혁신이론의 범위와 연구동향" 27 (27): 1115-1139, 1999

2 최충익, "패널모형 : 시계열 분석과 횡단면 분석을 한번에" 6 : 120-127, 2008

3 박경민, "카테고리 다각화와 전략적 균형이 인터넷 포털의 성장에 미치는 영향" 한국경영학회 38 (38): 193-213, 2009

4 김석관, "제약 산업의 기술혁신 패턴과 발전 전략" 과학기술정책연구원의 정책연구 2004

5 이대락, "연구개발비의 증가율이 기업의 성장성에 미치는 영향 : 코스닥 시장을 중심으로" 3 (3): 5-31, 2002

6 이영훈, "선형패널자료모형에 관한 문헌연구" 15 (15): 105-138, 2001

7 전승훈, "선형패널자료 분석방법에 관한비교연구" 통계청 9 (9): 1-24, 2004

8 김태유, "사업포트폴리오의 기술시너지효과 : 50대 재벌의 패널자료분석" 5 (5): 15-43, 1997

9 Henderson, R, "scale, scope, and spillovers : The determinants of research productivity in drug discovery" 27 (27): 32-59, 1996

10 Kim, D., "platforms and diversification" 7 : 283-301, 1996

11 Granstrand, O., "Towards a theory of the technology-based firm" 27 (27): 467-491, 1998

12 Porter, M.E., "Toward a dynamic theory of strategy" 12 : 95-117, 1991

13 Deephouse, D.L., "To be different, or to be the same? It’s a question(and theory) of strategic balance" 20 : 147-166, 1999

14 Nelson, R., "The simple economics of basic scientific research" 67 : 297-306, 1959

15 Walsh, S., "The measurement of technical competencies" 13 (13): 63-86, 2002

16 Peteraf, M.A., "The cornerstones of competitive advantage : A resource-based view" 14 (14): 179-191, 1993

17 Torkkeli, M., "The contribution of technology selection to core competencies" 77 (77): 271-284, 2002

18 Wang, Y., "The constituents of core competencies and firm performance : evidence from high-technology firms in china" 21 : 249-280, 2004

19 Tyler, B.B., "The complementarity of cooperative and technological competencies : a resource-based perspective" 18 (18): 1-27, 2001

20 Tirole, J., "The Theory of Industrial Organization" MIT Press 1988

21 Schumpeter, J.A., "The Theory of Economic Development" Harvard University Press 1934

22 Baumol, W., "The Free-Market Innovation Machine : Analyzing the Growth Miracle of Capitalism" Princeton University Press 2002

23 Mowery, D.C., "Technological overlap and interfirm cooperation : implications for the resource- based view of the firm" 27 : 507-523, 1998

24 Jaffe, A.B., "Technological opportunity and spillovers of R&D : Evidence from firms’ patents, profits, and market value" 76 (76): 984-1001, 1986

25 Miller, D.J., "Technological diversity, related diversification, and firm performance" 27 : 601-619, 2006

26 Harrigan, K.R., "Research methodologies for contingency approaches to business strategy" 8 : 398-405, 1983

27 Piscitello, L., "Relatedness and coherence in technological and product diversification of the world’s largest firms" 11 : 288-295, 2000

28 Clark, K.B., "Product Development Performance : Strategy, Organization, and Management in the World Auto Industry" Harvard Business School Press 1991

29 Ernst, H., "Patent applications and subsequent changes of performance : evidence from time-series cross-section analyses on the firm level" 30 : 143-157, 2001

30 Baum, J.A.C., "Organizational niche overlap and the dynamics of organizational mortality" 100 : 346-380, 1994

31 Scherer, F., "New Perspectives on Economics Growth and Technological Innovation" Brookings Institution Press 1999

32 Joseph, E.C, "Measuring technological capability and performance" 36 (36): 421-438, 2006

33 Snow, Charles C, "Measuring organizational strategies : Some theoretical and methodological problems" 5 : 527-538, 1980

34 Song M., "Marketing and technology resource complementarity : An analysis of their interaction effect in two environmental contexts" 26 : 259-276, 2005

35 Afuah, A., "Mapping technological capabilities into product markets and competitive advantage : the case of cholesterol drugs" 23 (23): 171-179, 2002

36 Betz, F., "Managing Technological Innovation: Competitive Advantage from Change" John Willey and Sons 1998

37 Baum, J.A.C., "Localized competition and organizational failure in the Manhattan hotel industry, 1898～1990" 37 : 580-604, 1992

38 Breschi, S., "Knowledge-relatedness in firm technological diversification" 32 : 69-87, 2003

39 Pisano G.P., "Knowledge, integration, and the locus of learning : an empirical analysis of process development" 15 : 85-100, 1994

40 Parikh, M., "Knowledge management framework for high-tech research and development" 13 (13): 27-33, 2001

41 Suh, W., "Knowledge management as enabling R&D innovation in high tech industry : the case of SAIT" 8 (8): 5-15, 2004

42 Quintana-García, C., "Innovative competence, exploration and exploitation : The influence of technological diversification" 37 : 492-507, 2008

43 Lee, J., "Innovation and strategic divergence : An empirical study of the U.S. pharmaceutical industry from 1920 to 1960" 49 (49): 143-159, 2003

44 Christensen, C.M., "Innovation and General Manager" Irwin McGraw-Hill 1998

45 Gimeno, J., "Hypercompetition in a multimarket environment : The role of strategic similarity and multimarket contact in competitive de-escalation" 7 : 322-341, 1996

46 D’Aveni, R.A., "Hypercompetition" The Free Press 1994

47 Beal, B.D., "Geographic agglomeration, knowledge spillovers, and competitive evolution" INSEAD Working paper

48 Lawless M.W, "Generational technological change : Effects of innovation and local rivalry on performance" 39 (39): 1185-1217, 1996

49 Nelson, R.R., "Forces generating and limiting concentration under schumpeterian competition" 9 (9): 523-548, 1978

50 Barney, J.B., "Firm resources and sustained competitive advantage" 17 : 99-120, 1991

51 Caves, R.E., "Economic analysis and the quest for competitive advantage, Papers and Proceedings of the Ninety-Sixth Annual Meeting of the American Economic Association" 74 (74): 127-132, 1984

52 Lach, S, "Dynamics of R&D and investment in the scientific sector" 97 (97): 880-904, 1989

53 Kurdas, C., "Dynamic economies of scope in the pharmaceutical industry" 7 (7): 501-521, 1998

54 Garcia-Vega, M., "Does technological diverification promote innovation? An empirical analysis for European firms" 25 : 230-246, 2006

55 Gambardella, A, "Does technological convergence imply convergence in markets? Evidence from the electronics industry" 27 : 445-463, 1998

56 Valvano, S., "Diversification strategies and corporate coherence evidence from Italian leading firms" 23 : 24-41, 2003

57 Ravichandran, T., "Diversification and firm performance : Exploring the moderating effects of information technology spending" 25 (25): 205-240, 2009

58 Piscitello, L., "Corporate diversification, coherence and economic performance" 13 : 757-787, 2004

59 Hitt, M.A, "Corporate distinctive competence, strategy, industry and performance" 6 (6): 273-293, 1985

60 Leonard-Barton, D., "Core capabilities and core rigidities : A paradox in managing new product development" 13 : 111-125, 1992

61 Argyres, N., "Capabilities, technological diversification and divisionalization" 17 (17): 395-410, 1996

62 권오진, "A study on method of citation information generation in Korean Patent Systems by using linking of core information resources" 689-701, 2005