계열사 보유자원의 속성이 분권화에 미치는 통합적 영향

황재원(Jaewon Hwang),박경미(Kyoungmi Park) 대한경영학회 2015 大韓經營學會誌 Vol.28 No.11

외부 및 내부 자원의존도가 해외IPO 저가발행에 미치는 영향

조혜진 ( Hyejin Cho ),정재호 ( Jaiho Chung ) 한국국제경영학회 2021 國際經營硏究 Vol.32 No.1

This study offers empirical evidence on how foreign initial public offering(IPO) firms' level of resource dependency determines the underpricing level. Given that securing resources is essential to IPO firms, we suggest that foreign IPO firms' vulnerability toward the continued relationship with resource providers is an important factor that can shape the attractiveness of investing in foreign IPO firms. As existing IPO studies have overlooked the business risk involved with the high dependence on resource providers, we provide theoretical and empirical insights into the impact of dependency on resource providers on the underpricing level. Furthermore, we expand existing studies that have mainly focused on dependency on external resource providers(supplier, manufacturer, and distributor) by emphasizing the role of dependency on internal resource providers(key executives) in determining the level of IPO underpricing. We also suggest that the effect of external and internal dependency risk on underpricing depends on the level of a IPO firm's knowledge resources. Higher knowledge intensity improves the bargaining power of IPO firms over the external resource providers and reduces the risk of losing the relationship. On the contrary, as executives' managerial expertise in knowledge-intensive IPO firms is essential, higher knowledge intensity implies intensified internal dependency risk.

자원의 의존성과 자원공유

황재원(Hwang Jae won),박경미(Park Kyoung mi) 한국산업경영학회 2016 한국산업경영학회 발표논문집 Vol.2016 No.-

다각화 연구에서 시너지에 대한 논의는 주로 자원공유를 중심으로 이루어졌으며, 자원공유에 대한 논의는 주로 자원공유의 필요성을 강조하는 논리에 기반을 두고 전개되었다. 하지만 자원공유는 둘 이상의 사업부문 간의 상호적 관계에 기반을 두고 진행되기 때문에 어느 한 쪽의 필요성만으로 이루어진다고 보기는 어렵다. 사업부문이 자원을 공유하기 위해서는 자신의 의도에 따라 다른 사업부문을 움직일 수 있는 영향력을 확보해야 한다. 자원의존관점에서는 다른 사업부문이 필요로 하는 매력적인 자원을 보유함으로써 의존성을 발생시킬 수 있고, 그에 따라 영향력을 행사할 수 있게 된다고 설명한다. 본 연구는 자원기반관점의 논의에 따라 자원의 풍족성, 자원의 활용성, 자원의 우수성을 의존성을 발생시키는 자원의 속성으로 제시하고, 자원의 매력성이 높을수록 해당 자원을 함께 공유하기를 원하는 사업부문의 수가 증가하면서 타 사업부문의 의존성이 커지고 해당 사업부문의 영향력이 커지게 된다고 주장한다. 실증분석 결과에 따르면 자원의 풍족성은 공유활동에 부정적인 영향을, 자원의 활용성은 긍정적인 영향을 미친 반면, 자원의 우수성은 공유활동에 유의적인 영향을 미치지 않는 것으로 나타났다. 또한 다각화전략의 조절효과에 대한 분석결과, 비관련다각화된 기업보다는 관련다각화된 기업의 경우 자원의 풍족성과 공유활동, 자원의 활용성과 공유활동, 자원의 우수성과 공유활동 간의 긍정적 관계가 보다 강하게 작용하는 것으로 나타났다. The research of synergy in diversification field is mainly interested in resource sharing and the arguments on resource sharing are based on the necessity for collaborative activities. But the necessity of one side involved in resource sharing cannot make it as its realization is based on the interrelationship among multiple SBUs. The SBU that is going to share resources with other SBUs should have the power to influence others to act what it intends to. Resource dependence perspective explains that retaining attractive resources sought after by others causes dependency on the SBU and brings power to it. This study suggests resource abundance, resource application, and resource superiority as the resource attributes that generate dependency based on resource-based perspective. More SBUs crave for sharing resources as resources are more attractive. Attractive resources incurs dependency on them and gives more power to the SBU that owns them. The power is the basis of resource sharing. According to empirical results, resource abundance affects sharing activity in a negative way and resource application affects it in a positive way, but resource superiority does not affect it. The analyses on the moderating effects of diversification strategy show that the positive relationship of resource abundance and sharing activity, the interaction of resource application and sharing activity, and the interaction of resource superiority and sharing activity is enhanced in unrelated diversifier rather than in related diversifier.

연구개발(R&D) 투자를 통한 경쟁력 창출

이재혁(Jay Hyuk Rhee),양지원(Ji Won Yang) 한국전략경영학회 2015 전략경영연구 Vol.18 No.3

본 연구는 동적 역량 이론과 자원기반이론 관점에서, 기업의 연구개발(R&D) 투자가 경쟁력 창출에 미치는 영향을 분석하였다. 경쟁우위의 원천으로 중요하게 고려하는 요인 중 하나는 기술을 통한 혁신이므로, 연구개발(R&D) 활동에 대한 투자는 전략적으로 중요한 의사결정이다. 하지만 투자규모뿐만 아니라 투자회수 때까지 소요시간이 초래하는 위험과 불확실성으로, 연구개발(R&D) 투자에 따른 성과를 쉽게 낙관할 수는 없다. 실제로 기존연구에는 연구개발(R&D) 투자가 성과에 미치는 영향은 긍정적 결과와 부정적 결과가 공존한다. 따라서 본 연구는 동적 역량이론 관점에서, 연구개발(R&D)에 대한 투자가 새로운 역량 창출에 미치는 영향은, 과거 연구개발(R&D) 투자대비 결과로 대변되는 해당 기업의 경로의존성에 영향을 받는지 분석하였다. 또한 자원기반이론 관점에 따라, 기업이 통제하는 자원의 특성이 연구개발(R&D) 투자를 통한 새로운 역량 창출의 가능성을 조절할 수 있는지 분석하였다. 정보통신기술산업(ICT)의 475개 한국기업을 대상으로 분석한 결과, 연구개발(R&D)에 대한 자원배분이 새로운 역량 창출에 기여하는지 여부는 해당 기업의 경로의존성에 영향을 받는 것으로 나타났다. 즉 동적 역량이론에서 제시하는 것처럼, 연구개발(R&D) 활동에 있어서 긍정적(positive)인 경로의존성을 지닌 기업의 경우에는, 연구개발(R&D)에 대한 자원배분이 새로운 역량 창출에 긍정적(+)인 영향을 미치는 것으로 나타났다. 하지만, 부정적(negative)인 경로의존성을 지닌 기업의 경우에는 오히려 새로운 역량 창출에 미치는 영향이 부정적(-)이었다. 뿐만 아니라 연구개발(R&D)에 대한 자원배분과 새로운 역량 창출의 관계는 기업이 통제하는 자원의 특징에 따라 변화하는 것으로 나타났다. 자원 기반이론의 VRIO 프레임워크가 제시하는 것처럼, 재무자원과 달리 조직자원은 일관되고 유의한 조절효과를 지니고 있는 것으로 밝혀졌다. 즉 조직자원이 클수록, 연구개발(R&D)에 대한 자원배분이 새로운 역량 창출에 미치는 긍정적(부정적) 영향이 강화(약화) 되었다. 이를 통해 재무자원이 조직의 운영에 있어서 필요한 요소이지만, 경쟁우위의 유지 및 확보를 위해 실질적인 원천으로 기업가치와 같은 조직자원에 관심을 기울여야 한다는 점을 알 수 있었다. 따라서 본 연구는 연구개발(R&D) 투자와 기업경쟁력 창출의 관계를 좀 더 정확히 이해하기 위해서는 동적 역량이론과 자원기반이론을 상호 보완적인 것으로 활용할 필요가 있다는 점을 시사하고 있다. This study investigates the contribution of R&D investment to the creation of firm competitiveness, from the perspectives of dynamic capability and resource-based view theories. Given that technology-based innovation is one of the most important sources of competitive advantages, investing in R&D activities is an important strategic choice. However, it is not easy to forecast the outcomes of such investments due to the risks and uncertainness stemming from the amount of R&D investment itself as well as the time required to get the return from the investment. Not surprisingly, the current literature reports both the positive and the negative results on the relationship between R&D investment and the creation of firm competitiveness. From the perspective of dynamic capability theory, this study examines whether the contribution of R&D investment to the creation of firm competitiveness depends on the path dependence a focal firm has developed, measured by the results of the R&D investment in the past. This study also relies on the arguments of the resource-based view and investigates whether the relationship between R&D investment and the creation of firm competitiveness is moderated by resource characteristics. The empirical tests, based on the sample of 475 Korean firms in the ICT industries, reveal that whether R&D investment leads to the creation of firm competitiveness is affected by a focal firm’s path dependence. As suggested by dynamic capability theory, R&D investment by a firm with a positive path dependence has a positive (+) effect on the creation of firm competitiveness. In contrast, R&D investment has a negative (-) effect on the competitiveness of a firm with a negative path dependence. This study also finds that the relationship between R&D investment and the creation of firm competitiveness is moderated by the resource characteristics. As indicated by the VRIO framework from the resource-based view, organizational resources unlike financial resources has a consistently significant moderating effect on the relationship. That is, the organizational resource increases, the positive (negative) effect of R&D investment on the creation of firm competitiveness becomes stronger (weaker). Financial resources are important to run an organization, but more attention should be paid to organizational resources as a means through which competitive advantages can be created and sustained. Taken together, this study emphasizes that we need to regard the perspectives of dynamic capability and resource-based view as not mutually exclusive but complementary arguments, in order to better understand the contribution of R&D investment to the creation of firm competitiveness.

광역관광개발에서 관광개발 자원의존 특성이 지방정부간 협력에 미치는 영향

하동원(Dong Won Ha),최승담(Seung Dam Choi) 한국관광연구학회 2015 관광연구저널 Vol.29 No.5

The purpose of this study is to analyze the relationship of tourism development resource dependency of local government, trust and collaboration among local governments in the multi-regional tourism development within the framework of Resource Dependency Theory. Based on literature review, conceptual model which composed of resource dependency characteristics(independent variable), collaboration among the local governments(dependent variable) and trust among the local governments(moderate variable) was developed and 7 hypotheses were formulated to test the model. H1~5 explain how possession, importance, discretion, substitutability and connection of resources affect collaboration among local governments, and H6, H7 explain the roles of trust among local governments as a moderating variable associated with H1~5. This survey was conducted targeting the public officials in charge of Jirisan multi-regional tourism development. The results showed the effects of possession, importance, substitutability and connection on collaboration was significant, and the moderating effect of trust was significant between possession, importance, discretion, substitutability and connection of resources. Concrete results as follows. While the possession and importance of resource among the five factors have a negative effect on tourism development collaboration, substitutability and connection of resources have a positive effect on that one. From the perspective of resource dependency theory, the effects of possession and connection of resource on collaboration seem to fit into the theory. This study presents a theoretical significance extending the resource dependence theory in tourism development perspective and the policy implications for improving local government collaboration in multi-regional tourism development policy decisions.

Natural Resource Dependence, Corruption, and Tax Revenue Mobilization

Oumarou Zallé 세종대학교 경제통합연구소 2022 Journal of Economic Integration Vol.37 No.2

This paper explores the dynamic interactions between natural resource dependence, corruption, and tax revenue mobilization worldwide. The empirical analysis used a cross-section augmented autoregressive distributed lag (CS-ARDL) approach that accounts for time dynamics, cross-sectional heterogeneity, and cross-sectional dependence. The results show that the interaction between natural resource dependence, corruption, and tax revenue mobilization is complex and depends on the type of tax revenue. For example, reducing corruption stimulates non-resource tax revenue mobilization compared to total tax revenue; however, tax revenue mobilization is sometimes a source of corruption and evasion of natural resource rents. The results suggest that tax administration institutions need to be strengthened to limit predatory and rent-seeking behavior.

한국 상장기업에 있어서 외국인 이사 선임의 요인 분석: 자원의존이론의 관점에서

곽주영 ( Joo Young Kwak ),이윤진 ( Yoon Jin Lee ),민현주 ( Hyun Joo Min ) 한국국제통상학회 2011 국제통상연구 Vol.16 No.3

많은 연구들이 이사진(board of directors)을 대리인이론에서 접근한 반면, 자원의존이론은 이들을 기업에 중요한 서비스와 네트워킹 등 유무형의 자원을 제공하는 원천으로 보았다. 본 연구는 이러한 자원의존이론의 연장선상으로 "외국인 이사"를 자원의 한 종류로 간주하여 해외진출을 하는 제조업에 종사하는 한국기업이 왜 외국인 이사를 임명하는지에 대하여 분석하였다. 본고는 외국인 이사의 임명에 기업연령, 기업규모, 산업성장성, 경쟁압력, 해외매출 비중이 영향을 미칠 것이라는 가설을 제시하였다. 데이타는 한국유가증권시장에 상장된 기업을 대상으로 1998년부터 2007년까지 1024개의 기업표본을 구성하였고 이에 대하여 회귀 분석과 푸아송 분석을 실시하였다. 분석 결과, 기업의 연령이 낮을수록, 기업의 규모가 작을수록 외국인 이사의 비율이 높아지는 것으로 나타났다. 해외매출 비중은 부분적으로만 외국이사 선임과 정(+)의 관계를 나타내었다. 반면, 기업의 경쟁압력은 외국인 이사와는 부(-)의 관계를 갖는 것으로 나타났다. 본 연구는 자원이 부족하고 외부 불확실성에 많이 노출된 기업일수록 외국인 이사를 임명할 가능성이 높다는 것을 실증 분석함으로써 자원으로써의 외국인 이사의 가능성을 보여 주었다. While the board of directors have been examined in the framework of agency theory, resource-dependence theory has regarded them as a valuable set to provide tangible and intangible resources. As an extension to this perspective, this study has approached the foreign directors on the board of director as a type of resource, and have addressed what determines appointment of the foreign directors in the Korean manufacturing firms. Based on the theoretical review and the preceding findings, we have hypothesized that firm age, firm size, industry growth, competitive pressure, and the relative importance of foreign sales affect appointment of the foreign directors. Our dataset includes 1024 Korean public firms listed on the Korean Stock Exchange during 1998-2007. The regression results have suggested that the percentage of the foreign directors in the board of directors increases, as (1) firms are younger, (2) firms are smaller-sized, or partially (3) firms are more dependent on the overseas sales. In addition, the competitive pressure in the business environment decreases the Korean firms` appointment of the foreign directors. The results have demonstrated the existence of the foreign directors as a resource, and have illustrated that this resource tends to be possessed by a certain type of firms, which is, the firms with less experiences or exposed to more environmental uncertainties.

Export Product Diversification and Public Revenue’s Dependence on Resource Revenue

Sena Kimm Gnangnon 한국국제경제학회 2018 International Economic Journal Vol.32 No.3

This article tries to reconcile two major priorities for countries, notably resource-rich countries on the international development agenda: export product diversification with a view to helping them better integrate into the multilateral trading system and tax reforms with a view to reducing the dependence of total public revenue on resource revenue, and therefore developing a more sustainable stream of public revenue. The analysis therefore involves examining empirically the impact of export product diversification on countries’ overall public revenue dependence on resource revenue, this dependence being measured by the share of resource revenue in total public revenue. The empirical analysis shows that export product diversification exerts a negative and significant impact on resource revenue share of total public revenue, and therefore could help facilitate tax reforms towards lower resource revenue dependence. Hence, while tax policy is the main policy tool to conduct tax reforms, export product diversification would likely contribute to facilitating the implementation of these reforms.

자원의존 물류관리에서 관리특성과 성과간의 관계분석

권오성(Oh-Sung Kwon) 한국무역연구원 2016 무역연구 Vol.12 No.6

This research analyzes the effect of dependence, relationship quality, and integration on financial performance based on the resource-dependency theory. A literature review is undertaken to drive the hypotheses and model, while a structural equation model is used to analyze the relationship between the independent variable and dependent variable from survey data from mid and small sized automobile aftermarket companies. The results of this study indicate that independent variables such as dependence and integration each positively influence the financial performance at the 5% significant level, but relationship quality does not affect dependent variables such as integration and financial performance. This study finds that dependence and integration improve financial performance in automobile aftermarket companies The results of this empirical study provide basic guidelines for future strategic planning in any firm’s logistics management. The limitation of this study is that it is only focused on automobile aftermarket companies in single industry. Thus, future research should extend to other industries to determine whether the relationships explored herein still apply.

Investigation of Frequency Dependency of Residential Loads in Modern Power Systems: An Experimental Approach

Qiucen Tao,Johanna Geis-Schroer,Maeva Courcelle,Thomas Leibfried,Giovanni De Carne 전력전자학회 2023 ICPE(ISPE)논문집 Vol.2023 No.-

The increasing penetration of power electronic-based or -interfaced resources and loads leads to a reduction in the overall system inertia. As a result, the modern power network can experience faster and larger frequency changes under power imbalances. This highlights the importance of a better assessment of network parameters, such as the frequency dependency of loads and active resources. So far, studies on load behavior have mainly focused on voltage dependency, and very few have investigated frequency dependency. The frequency dependency parameters used in recent publications are still mainly results obtained between 1940 and 1980. Load technology has changed since. Therefore, this paper focuses on the identification of the frequency dependency of modern passive residential loads and active resources through experiments on real appliances. For this purpose, the perturbation-based identification method is used: an apartment-like laboratory is supplied by a three-phase voltage amplifier to create artificial frequency variations. The frequency dependency is then calculated from the recorded power responses.