Factors influencing the adoption of budgeting innovation : the case of performance budgeting in U.S. state government in the 1990s

성시경 서울대학교 행정대학원 2012 국내박사

정부는 항상 혁신을 추구해왔지만, 정부 혁신 채택의 원인과 과정에 대한 지식은 많지 않다. 본 연구는 왜 그리고 어떠한 조건에서 정부가 예산혁신을 채택하는지 답하려고 한다. 미국 주정부가 왜, 언제, 그리고 어떠한 상황에서 성과예산을 채택하였는지, 특히 1990년대 성과예산혁신 채택에 대해서 설명하고자 한다. 이 연구는 미국 주정부의 1991년부터 2000년까지의 예산혁신 역사에 주목하면서 성과예산 채택과 그에 영향을 주는 요인들간의 관계를 분석하기 위해 통계기법을 사용하였다. 이론에서 논의되고, 실제 사용되는 성과예산의 개념에 대해서 살펴본 결과, 이 연구에서는 ‘효율적, 효과적, 책임 있는 정부를 만들기 위하여 예산결정을 성과정보에 연계시키는 예산제도’를 성과예산이라고 정의하였다. 이 연구는 성과예산의 혁신성(innovativeness)을 폭넓게 검토하였으며, 특히 성과예산 이상형(ideal type)의 구성 요소로 전략기획, 성과측정, 성과정보 활용, 성과보고, 성과보상, 참여, 제도 변화 등이 있다. 문헌연구는 연구프레임을 만드는데 도움을 주었다. 첫째, 혁신은 ‘새롭게 인식되는 아이디어, 실천, 사물’이라고 정의되는데, 성과예산 연구는 혁신에 관한 연구라고 할 수 있다. 그리고, 미국 주정부 혁신에 관한 연구들이 많이 채택하고 있는 Walker-Gray-Berry-and-Berry의 연구프레임을 따르고 있는데, 본 연구도 다른 주정부의 혁신 채택 연구와 유사한 연구프레임을 사용하고 있다고 볼 수 있다. 둘째, 다른 혁신채택에 관한 연구처럼 이 연구도 주정부의 특성이 성과예산채택에 영향을 미치는 것에 중점을 두고 있다. 특히 주정부의 혁신에 관한 연구들이 혁신의 상대적 이익 자체보다는 혁신채택에 영향을 미치는 경제적, 정치적, 행정적 요인을 찾는 경향이 있다. 연구설계에는 가설설정, 주정부의 혁신채택을 설명하는 프레임 구성, 사건사분석(event history analysis, EHA) 설계, 변수 측정 등이 포함된다. 연구가설은 연구질문에서부터 도출되었는데, 주 정부가 왜 특정한 시기에 성과예산을 도입하였는지에 대해 답하기 위해서 행정적, 정치적, 경제적, 그리고 확산 요인들이 검토되었다. 사건사분석(EHA)은 최근에 정책 및 행정 혁신 연구에서 주목을 받아왔다. 사건(events)은 한 상태에서 다른 상태로의 변화, 역사(history)는 이러한 사건들의 연속적인 발생들을 의미하고 있으며, 사건사분석은 다수의 조직들의 단절적 시간 변화를 이해하는데 목적이 있다. 이 연구에서는 1991년부터 2000년까지의 성과예산 채택이 사건이며, 법률적 채택을 분석하기 위해서 이산적 시간(discrete time) 기간 내에서 반복되지 않는 단일사건을 분석하고 있다. 이 연구에서는 준모수(semi-parametric) 모델인 콕스(Cox)모델 사건사분석을 채택하고 있다. 이 연구의 주된 관심은 사건사분석으로 주정부의 성과예산채택에 영향을 미치는 통계적으로 유의미한 변수를 찾는 것이다. 본 연구는 여러 변수들간의 결합에 따른 다양한 분석모델들의 사건사분석 결과들을 검토하였으며, 각 분석모델들의 결과 추정치들의 일관성을 검토하였다. 이에 따라 세 변수 – 재정자원, 권력분산, 그리고 재정공무원 – 의 계수(coefficient) 측정치가 통계적으로 유의미하게 나온 것을 발견하였다. 가설검증과 관련하여 이러한 통계측정치들이 갖는 추론들을 본다면, 첫째, 재정자원이 더 있을수록 주정부가 성과예산을 채택할 확률이 높아지며, 둘째, 권력이 분산된 정부 구조를 갖은 주정부가 성과예산을 더 채택하는 경향이 있으며, 셋째, 예산공무원의 비율이 높을수록 성과예산채택의 가능성이 낮아진다고 볼 수 있다. 이 분석의 결과는 혁신에 관한 여유자원이론(slack theory)를 지지한다고 볼 수 있다. 즉 분석 결과에 따르면 성과예산은 문제해결지향(problem-oriented) 혁신이라기 보다는 여유자원유도(slack-induced) 혁신이라고 볼 수 있다. 또한 이 연구를 통해서 권력이 더 나누어져 있는 주정부가 성과예산을 채택하는 경향이 있으며, 재정공무원의 비율과 성과예산 채택 확률 사이에는 역(negative)의 관계가 있음을 알 수 있다. 본 연구에 따르면, 성과예산은 문제해결과 관련한 수요지향적 혁신이라고 보기는 어렵다. 재정압박은 경제적 재정적 문제 상황을 벗어나기 위한 해법을 찾기 위해, 정부의 혁신 절차의 시작을 유발(trigger)시킨다고 볼 수 있다. 만약 성과예산이 그 해법이라면, 경제변수가 통계적으로 유의미하게 역의 관계를 보여주었어야 하는데, 결과는 그렇지 않다. 예산혁신은 행정부, 입법부, 그리고 예산과정의 여러 참여자들간의 합의에 의해서 만들어진 법률로 나타난다. 성과예산 혁신의 채택은 의사결정의 규칙을 변화시키고 이 변화는 궁극적으로 예산배분의 변화를 가져올 수 있다. 본 연구에 있어서 혁신을 법률적인 채택 중심으로 분석한 한계, 사건사분석에 있어서 특정시기를 중도절단(censoring)하여 생기는 한계, 그리고 혹시라도 있을 변수 누락의 한계 등이 있을 수 있다. 향후 연구로는 성과예산 채택에 대한 비교사례연구 그리고 보다 정교한 사건사분석 등이 제안될 수 있겠다. Governments constantly seek innovation, but there is not much knowledge on the reasons and processes of governments’ adoption of innovation. This dissertation tries to answer why and under what conditions governments adopt budgeting innovation, by identifying the overarching factors that influence the innovation adoption. This study seeks to explain why the U.S. state governments adopted performance budgeting in a certain time and conditions by focusing on their adoption of budgeting innovations in the 1990s. This research employs a statistical method that analyzes associations between the state governments’ adoption of performance budgeting and the factors that varied over time and it focuses on budgeting innovation history from 1991 to 2000. Definitions of performance budgeting from theorists and organizations are reviewed and in this research performance budgeting is defined by budgeting with linking performance information, which is looking for efficient, effective and accountable government. In my research, innovativeness of performance budgeting is extensively examined by re-defining performance budgeting and finding components: measuring performance, strategic planning, utilizing performance information, reporting performance, rewarding performance, participation and institutional changes. The literature review helps to find important mechanisms for designing research framework. First, innovation is defined as ‘an idea, practice or object perceived as new’ and performance budgeting is qualified to be called an innovation. Following the ‘Walker-Gray-Berry-and-Berry’s research framework,’ this research on performance budgeting may complement with other studies on the state governments’ innovation adoption studies. Second, like most innovation adoption studies, this research focuses on the impact of state governments’ characteristics on the adoption of performance budgeting. Especially, innovation studies on state governments have tendency of finding economic, political and administrative factors influencing adoption of innovation rather than relative advantage of innovation in itself. The research design includes formulating hypotheses, building frames of explaining state governments’ innovation adoption, designing event history analysis and measuring variables. Research hypotheses are derived from research questions. Since this research is to answer why state governments adopted performance budgeting in a certain time, several variables affecting state governments’ adoption of performance budgeting were found for formulating research hypothesis – administration, politics, economy, and diffusion. The event history analysis (EHA) has recently received attention in the context of policy and administrative innovation. Since events are regarded as transition from one status to another and history is regarded as proceedings of events, event history analysis aims to understand discrete time change within multiple units or organizations. For this study, the event, adoption of performance budgeting from 1991 to 2000, is a single event that does not repeat itself during the discrete time periods that were selected for analyzing legislative adoption. This study employs the Cox model, a semi-parametric model of EHA. Most interest of this research is to test the relationships between state characteristics and state governments’ adoption of performance budgeting by finding statistically significant variables from each EHA model. This study examines the EHA model’s results and checks the consistency of their results. Three variables, financial resource, power distribution and financial administrators, draw our attention because their coefficient estimates are statistically significant in each of the EHA models. Also, the statistical results of three variables are consistent in terms of coefficients and zero scores with EHA models’ Chi2 values. Regarding to the hypothesis tests, the estimates have the following inferences: i) the more financial resource, the higher the probability of a state governments’ adoption of performance budgeting; ii) performance budgeting is more likely to be adopted by a state government that has more power-distributed government structure; and iii) the higher ratio of financial administrators in state government, the less possibility of adopting performance budgeting. EHA results of this research support the slack theory of innovation. The results seem to confirm that performance budgeting innovation is slack-induced innovation rather than problem-oriented innovation: even though performance budgeting innovation looks like a performance-gap and problem-oriented innovation, the statistical results indicate that slack is very likely a stronger influencer. The statistical results can be interpreted to mean that a more power-distributed state is more likely to adopt performance budgeting. In addition, this dissertation study found that there is a negative association between the ratio of financial administrators and the possibility of adopting performance budgeting. Performance budgeting innovation is not demand-oriented but supply-oriented. Fiscal austerity situations are likely to trigger the innovation process by the states looking for solutions to escape economic and fiscal stress. If performance budgeting were a solution, the statistical results of this research would show a significant and negative association between economy variables and adoption of performance budgeting Budgeting innovation in the form of legislation is the product of consensus building between the executive branch and legislature or among the participants of the budgeting process. The adoption of performance budgeting changes decision rules and the change of the decision rules might yields the changes of budget allocation at last. This study has a couple of limitations: focusing on legislative adoption of innovation, censoring a specific periods of innovation adoption in EHA model, and possible omitting significant variables. The further research should include comparative case study on state governments of budgeting innovation and employment of more articulated EHA methods.

Innovation through ICT towards organizational performance : an empirical analysis of Tanzania public institutions

Fatma Hamisi Mgembe Sungkyunkwan University 2018 국내석사

“The advancement, adoption, and implementation of innovations are critical factors of organizational competitiveness and effectiveness”. Innovation is “a multi-stage process whereby organizations transform ideas into new/improved products, services or processes, in order to advance, compete and differentiate themselves successfully in their marketplace”. In this case, “the innovation processes and the organization’s daily operations, which might change in the implementation of an innovation, rely on ICTs”. Generally, this study empirically examines the role of Organizational Innovation through ICT towards Organizational Performance in the Public Institutions of Tanzania. Specifically the study scrutinized the direct relationship among of Leadership, Organizational and Employee Support on innovation to Organizational Performance. Also, the mediating role of Individual Performance Expectancy and Innovation Task Motivation on Organizational, Leadership and Employee Support on Innovation to Organizational Performance based on Leader-Member Exchange and Social Exchange Theories was also assessed. Moreover, the effect of Techno-stress to Individual Performance Expectancy and Education and Training to Innovation Task Motivation was also scrutinized based on the Expectancy Theory. A total number of 230 Tanzania Public Service employees, both from Central and Local Government Authorities were randomly selected from the Public Service Employees Database to respond to the online questionnaire and 216 valid responses were obtained. Structural Equation Model and Regression Analysis were employed to examine the research data. Based on survey data analysis from respondents, the discussions and main findings, the practical implications for public management, theory, policy as well as the limitations and future research are provided.

(The) impact of strategic fit on innovation performance : focusing on manufacturing industry

정두희 Seoul National University 2017 국내박사

In a rapidly changing business management environment, continuous technological innovation is necessary in order to sustain a competitive advantage. However, technological innovation, by itself, does not necessarily guarantee success in firm management. There are many examples of firms that have failed to create values through technological innovation, despite the fact that they possess excellent innovative resources. I can easily find examples of firms that have failed to innovate because they could not seamlessly integrate their internal and external resources and because of inconsistencies in the strategies within the organization. The mutual interaction of various stakeholders, including top management teams (TMTs), suppliers, competitors and shareholders in exploring and developing innovative technologies, the convergence of a firm’s resources within a consistent strategy direction, and the creation of a synergistic effect are important. In other words, the way in which all the resources of technological innovation align is important in improving innovative performance. This dissertation emphasizes the importance of strategic fit in firm innovation. This study first criticizes that the concept of fit is used inconsistently and indiscriminately in many literatures, and develop a framework of strategic fit that is suitable for the study in technological innovation. Based on this framework, this dissertation examines the effect of the strategic fit of various factors, especially centered on the three major factors such as the top management team attribute, the internal context as well as the external context of the firm. As the first study, this dissertation examines the effect of TMT cognitive characteristics on fir innovation contingent upon internal context such as organizational search behavior. The central premise of upper echelons theory is that the organization is a reflection of the top management team. The top management team has the authority to formulate, execute and evaluate a firm’s innovation strategies. The knowledge base of the top management team is a key variable in predicting the firm’s innovation strategy tendencies. This study focuses on this knowledge diversity. The decision-making tendencies of a top management team with a diverse knowledge base and one with a homogeneous knowledge base are bound to differ. The majority of pre-existing study concludes that the greater the knowledge diversity, the better the innovation performance. However, just as the existing quantitative analysis shows, this tendency does not apply to all firms across the board. This is due to the fact that the top management team’s strategy direction is executed by the internal organization of the firm, and the TMT effect can be distorted through the firm’s organizational behavior and routine. Therefore, this dissertation analyzes how the relationship between the TMT’s knowledge diversity and the innovation performance changes because of the organization’s internal structure. As a result of conducting quantitative analysis of 120 manufacturing companies in the U.S., a positive correlation was determined between the knowledge diversity founded on the past industrial experience of the top management team and innovation performance. However, the results vary depending on the organizational search scope. The more expansive the organizational search scope, the greater the effect of the TMT’s knowledge diversity on innovation performance. Conversely, the narrower the organizational search scope, the more constrained the top management team effect. When TMT with diverse knowledge leads to a broad search organization, therefore, fit as internal complementarity increases, which improves innovation performance. The effect of the TMT’s knowledge diversity must also match the managerial discretion of the firm. The managerial discretion indicates the extent of the TMT’s direct and proactive intervention into corporate affairs, and there is a high degree of variance depending on the type of industry. The effect of the TMT’s knowledge diversity is greater in industries with high managerial discretion like computer or semi-conductor industries. In contrast, the TMT effect is limited in industries with low managerial discretion like forestry or simple manufacturing industries. Therefore, industries with high discretion are more likely to achieve fit as external complementarity with TMT with diverse knowledge, which improve innovation performance. This dissertation also analyzes the relationship of external collaboration strategy and innovation performance. Firms can create innovative values by collaboration with many external partners. Some forms of external collaboration for innovations are mergers and acquisitions, alliances, and joint ventures. For the purpose of this study, the analysis focuses on alliances. In particular, the study analyzes the effect of alliance portfolio diversity on innovation performance. Alliance portfolio diversity refers to how many alliances firms forge with a diverse array of partners. Even if alliances are forged with great companies, alliances, by themselves, do not impact the innovation of the organization. From this perspective, I argue that the internal capability of value creation plays a critical role in leveraging alliance portfolio diversity. The alliance portfolio diversity can be represented as a pool of external resources which the focal firm can access. The extent of benefit that the focal firm gains from the portfolio will depend upon the internal capacity to create the value from the external resource pool. Based on the dynamic capabilities framework that emphasizes competitive advantage is generated from the capabilities to combine and recombine internal and external resources (Teece, 1996; Teece, Pisano, &, Shuen, 1997), this study empirically investigates how the fit between an alliance portfolio strategy and internal capabilities affects innovation performance. First, I confirm the direct relationship between innovation performance and alliance portfolio diversity in terms of industry, then examine how internal capabilities of value creation leverage this relationship. In this study, the internal capabilities of value creation are examined in two aspects: routine (organizational search routine) and ability (technological capabilities). The results of this analyses show that the alliance portfolio diversity alone cannot explain the relationship with innovation performance, and this relationship is determined by internal contexts such as organizational search routine or technological capabilities. Apart from the hypotheses tests, this study conducted additional analysis by adding interaction terms with industry volatility as dummy variable, to examine how interplay of alliance portfolio diversity and internal capabilities is applied in certain environment such as high volatile industries. The result of this analysis shows the interaction of alliance portfolio diversity and organizational search routines becomes more significant in industries with high volatility while interaction of alliance portfolio diversity, technological capabilities, and high volatility have no significance. This study analyzed the impact of alliance portfolio diversity on innovation performance in terms of fit as integrated complementarity that considers internal and external components simultaneously.

Innovation Strategy for Cybersecurity Start-ups in Emerging Industry : Incentives for intentional knowledge spillover and R&D support policy

이동우 서울대학교 대학원 2023 국내박사

기술 분야 내 경쟁우위 선점을 위한 지배적 전략으로서는 새로운 혁신의 독점적 활용을 확보하려는 방안들이 우선적으로 지향된다. 이에 따라 최근 디지털 산업은 산업 특성의 변화에 발 맞추어 협업 연구개발과 지식확산을 핵심 성장전략으로 활용함으로써, 지식 이전 측면에서 기존의 전용과는 다른 모습을 보인다. 특히, 정보보안 산업은 보안서비스를 제공하는 스타트업이 의도적으로 백서 및 오픈소스 소프트웨어(OSS)를 제공하는 등 경쟁사와 기술력을 공유한다는 점이 특징으로써, 지식확산으로부터의 부작용에 대한 통념에도 불구하고 지식공유 생태계에 있어 타 산업과는 확연히 다른 현상을 나타낸다. 이러한 의미에서 최근의 ‘오픈소스 혁명’은 의도적 지식확산 활동의 고유한 특성을 대표하며, 디지털 경제와 밀접한 기업은 서비스 계약이라는 전통적인 시장 메커니즘을 우회하여 광범위한 지식을 자유롭게 공유하는 방안을 선호한다. 이에 본 학위 논문은 신흥산업 내 경영전략 측면에서 혁신성과에 대한 동태적 메커니즘을 의도적 지식확산 활동이라는 차별적 관점에서 그 영향을 살펴본다. 3장의 연구에서는 정보보안 스타트업의 재무성과 및 혁신성과를 시장 선점효과 측면에서 실증적으로 분석하고, 스타트업의 의도적 지식확산 활동이 후속 성과를 어떤 방향으로 조절하는지 살펴본다. 미국 내 본사가 위치한 정보보안 스타트업 327개 사의 표본이 분석되었으며, 주요 결과는 다음과 같다. 재무성과 측면에서는 시장 선점효과가 긍정적으로 유효하지만, 스타트업의 진입시점과 혁신성과는 역 U자형의 관계가 나타난다. 또한, 스타트업의 의도적 지식확산 활동 수준은 시장 내 진입 시점과 혁신성과 간 상호작용을 긍정적으로 조절한 반면, 선도주자의 재무성과 측면에서는 부정적 조절 효과가 확인되지 않았다. 이는 정보보안 산업 내 적정 수준으로 후발 진입한 스타트업이 선도주자로부터 공유된 지식을 기반으로 높은 혁신성과가 발현된 것으로 풀이되며, 선도주자 또한 시장지분 측면에서 의도적 지식확산 활동으로부터의 피해를 입지 않고 오히려 혁신성과가 촉진되며 그 동인을 살펴볼 수 있다. 따라서, 첨단 신흥산업 스타트업들이 산업 전반의 동반성장을 목표로 삼아, 생태계 내 혁신 패러다임을 폐쇄적 메커니즘에서 개방적 메커니즘으로 전환할 필요가 있음을 시사한다. 4장의 연구에서는 정보보안 스타트업의 M&A 사후 재무 및 혁신성과를 기술적 보완성 측면에서 실증적으로 분석하고, 또한 스타트업의 의도적 지식확산 활동이 양손잡이 전략 측면에서 후속 성과를 긍정적으로 조절하는지 살펴보며, 기업 내 자원과 기술적 M&A 역량이라는 이원적 측면에서 인수기업과 타겟기업 간 기술보완성의 역할을 탐구한다. 자세히는, 첨단기술 신흥산업 내 스타트업의 의도적 지식확산 활동이 내부역량을 지속적으로 강화시키는 계기로써의 활용 전략으로 삼으며, 기술 보완성을 고려한 기술적 M&A를 외부 자원의 효율적 획득이라는 탐색 전략으로 삼아, 스타트업 맞춤형 새로운 형태의 양손잡이 기술전략 제시를 목표로 한다. 정보보안 산업 내 174개 M&A딜을 분석하였으며, 주요 결과는 다음과 같다. 인수 스타트업과 타겟 스타트업 간 기술보완성은 인수합병 사후 재무성과에 긍정적인 유의한 관계가 확인되었으며, 혁신성과 측면에서는 기술보완성과 역 U자 형의 유의한 관계가 확인되었다. 또한, 정보보안 스타트업의 의도적 지식확산 활동은 인수 스타트업과 타겟 스타트업 간 기술보완성 및 혁신성과 간의 상호작용을 긍정적으로 촉진시키는 조절효과가 확인되며, 의도적 지식확산 활동으로부터의 수혜가 반영된 새로운 메커니즘의 양손잡이 모습을 확인하였다. 5장의 연구에서는 신흥산업이 지니고 있는 기술 성숙 단계별로 맞춤형 R&D 전략을 고안할 필요가 있음을 시사한다. 성장지수 및 총요소생산성 분석 결과, 신성장 산업 중 기술성숙도가 상대적으로 낮은 기술도입 단계일 시 재정 및 혁신성과 측면에서 정부 R&D 지원 정책의 수혜를 크게 받으며, 신흥산업 내 초기 미숙 기업이 향후 지속 가능한 성장을 보이는 것으로 확인하였다. 본 학위논문은 첨단 신흥산업 내 의도적 지식확산 활동 효과를 확인하고, 그 동인과 혁신 메커니즘을 살펴봄으로써, 시장의 전반적인 규모와 혁신부터 먼저 키워야 하는 신흥산업은 장기적 측면에서 의도적 지식확산 활동이 독이 아닌 득으로 다가온다는 점, 기술 M&A 시 기술보완성과 의도적 지식확산 활동으로부터 훈련된 재조합 역량이 반영된 맞춤형 양손잡이 전략을 고려해야 된다는 점, R&D지원 역시 산업 성숙도에 따라 일괄적이 아닌 맞춤형 전략이 수반되어야 한다는 점을 확인한다. 자세히는, 오픈소스 생태계 내 혁신 메커니즘을 고찰함으로써, 기존 경영전략을 발판 삼아 스타트업이 의도적 지식확산 활동으로부터의 수혜에 대한 새로운 혁신적 시각과 맞춤형 기술전략을 제안함에 주요한 의의가 있다. Concerning the dominant strategy for preoccupying competitive advantage in the technological field, implementing an appropriation strategy has been selected to secure the exclusive use of new innovation. However, in line with changes in industrial characteristics, digital industries recently present a different disposition from the existing appropriation strategy in terms of knowledge transfer by utilizing collaborative research development and inexorable knowledge diffusion as key growth strategies. Especially, cybersecurity industry has a distinctive characteristic in that cybersecurity start-ups intentionally share their technological capabilities with competitors by intentionally providing white papers or open-source software (OSS). Defying conventional wisdom on the side effects of knowledge spillovers, start-ups in the cybersecurity industry display clearly differentiated phenomenon about knowledge sharing ecosystem. In this sense, the recent ‘open-source revolution’ represents the unique characteristics of intentional knowledge spillovers. Firms which are closely related to digital economy frequently determine to share the knowledge freely and widely, bypassing the traditional market mechanism of explicit contract. Accordingly, the dissertation aims to examine the intentional knowledge spillover effects in the emerging software industry by exploring its dynamic mechanisms with innovation performance in the aspect of various strategic management modes Chapter three empirically analyses the cybersecurity start-ups’ financial and innovation performance in terms of first-mover advantages, and also examines whether the start-ups’ intentional knowledge spillover activities moderate the subsequent performance. A sample of 327 start-ups related to cybersecurity technology was analysed, and the major results are as follows. While first-mover advantages are positively valid in financial performance, the start-ups’ early entry and innovation performance have an inverted U-shaped relationship. Moreover, the start-ups’ intentional knowledge spillover activities positively moderate the interaction between early entry and innovation performance. The results confirm that latecomers are also capable of high innovation performance in the cybersecurity industry, and it suggests that start-ups in high-tech emerging industry need to convert innovation paradigm from closed to open, aiming for shared growth of the overall industry scale and sustainable innovation. Chapter four empirically analyses the cybersecurity start-ups’ post M&A financial and innovation performance in terms technological complementarity, and also examines whether the start-ups’ intentional knowledge spillover activities moderate the subsequent performance with a sample of 157 M&A deals in the cybersecurity industry. Specifically, chapter four study aims to suggest a new form of ambidextrous strategy in that start-ups’ reinforced knowledge recombination skills, developed by intentional knowledge spillover promote post-innovation performance when technological M&A, considering technological complementarity is conducted. The study confirmed a positive and significant relationship between technological complementarity, derived by acquiring and target start-ups, and post-M&A financial performance. In the aspect of innovation performance, the study confirmed an inverted U-shaped and significant relationship between technological complementarity and post-M&A innovation performance. Moreover, the intentional knowledge spillover activities of a start-up in the cybersecurity industry positively moderate the interaction between its technological complementarity and post M&A innovation performance. The results implicit a need for the tailored ambidextrous strategy since a start-up’s strengthened exploitation capacity through intentional knowledge spillover promotes its exploration opportunity for the external knowledge inflow. Chapter five study suggests that customized R&D strategy needs to be applied for each technology maturity stage of industrialization. With an analysis method of growth index and total factor productivity, the results indicate that early technology introduction maturity levels of new growth industries exhibited sustainable growth with the governmental R&D support policy in terms of financial and innovation performance. In terms of financial performance, industries in the early stages of technology introduction have only been high in the short term and reduced in the mid to long term, while in terms of TFP, industries in the early stages of technology introduction have been fully benefited from R&D support. On the other hand, the matured stage of industrialization, which already has high technological development, indicates invalid support effect with no change of TFP. The overall contribution of the dissertation identify the incentives of intentional knowledge spillover in high-tech emerging industry by investigating the innovation mechanism in the open-source ecosystem and considering a tailored technological strategy for the emerging industries that start-ups lead the competitive leadership with new perspectives on the existing business strategy theories.

A Study on the Effect of ESG score on Corporate Performance : Focused on Innovation Capability and Product Development Capability in Listed Companies of China

왕천하 우석대학교 일반대학원 2023 국내박사

경제 성장, 혁신, 사회 경제적 변혁과 같은 측면을 포함한 경제 발 전에서 중국의 상장 기업의 역할은 최근 학술에서 크게 연구되었다. 연구는 이들 기업이 자본 형성을 촉진하고 효율성 향상을 촉진하며 첨단 산업의 성장에 도움이 되는 환경을 조성하고 글로벌 통합을 추 진하는 방법을 강조했다. 그러나 이들 기업의 성장과 관련된 사회적 불평등에 대한 고려도 제기되어 추가적인 탐구가 필요한 다면적인 영 향력을 시사한다. 또한 환경·사회·지배구조(ESG) 점수와 중국 상장기업의 기업성과 간의 관계에 대한 연구가 증가하고 있다. 몇몇 연구는 ESG 점수와 재 무 성과, 혁신 및 기업 평판 사이에 긍정적인 상관관계가 있음을 시 사한다. 그러나 산업 유형, 규제 환경 및 ESG 성숙도 수준, ESG 구현 및 이해 관계자 관리와 관련된 과제 등과 같은 요인에 따라 복잡성이 존재한다. 마지막으로, 혁신 역량과 제품 개발 역량이 기업 성과에 미치는 영 향을 조사하여 이러한 역량이 시장 포지셔닝 및 재무 성과를 어떻게 향상시킬 수 있는지를 밝혀냈다. 본문의 연구 문제 은 첫째, 중국 상장기업 중 ESG 점수와 기업 성 과 사이에 상관관계가 있는가? ESG의 환경, 사회 및 거버넌스 구성요 소는 각각 독립적으로 기업 성과와 관련이 있는가? 둘째, 중국의 상장기업 중 ESG 점수와 Innovation Capability 사이에 상관관계가 있는가? 셋째, Innovation Capability는 중국 상장기업의 ESG 점수와 기업 성 과 간의 관계를 매개하는가? 넷째, 중국 상장기업 중 ESG 점수와 제품 개발 역량 간의 상관관계 가 있는가? 마지막으로, 제품 개발 능력은 중국의 상장 기업들 사이에서 ESG 점수와 기업 성과 사이의 관계를 중재하는가? 본문의 연구 목적은 최근 연구는 중국 상장 기업들이 경제발전에 미친 중요한 역할에 주목하고 있다. 중국 경제의 놀라운 성장과 상장 기업들의 발전 사이의 연관성은 이 기업들이 자본 형성과 경제 효율 성 개선에 결정적인 역할을 한 것을 보여준다. 또한 이러한 기업들은 중국의 혁신 주도 성장 전략에 크게 기여하였고, 글로벌 경제 통합에 중요한 플레이어로서의 역할을 하였다. 그러나 이러한 발전에는 사회 불평등 증가와 같은 부작용이 있었으며, 이는 향후 더욱 심도 있게 연구될 필요가 있다. 또한, 환경, 사회, 지배구조 (ESG) 점수와 중국 상장 기업의 성과 간 의 관계 연구도 활발히 진행되고 있다. ESG 성과가 강한 기업은 운영 효율성 향상, 위험 관리 개선, 그리고 자금 조달의 용이성을 통해 재 무 성과를 높일 수 있다는 연구 결과가 나왔다. 또한 ESG 점수가 높 은 기업들은 혁신 활동이 활발하며, 이는 기업의 전략적 중요성을 강 조하는 결과를 보여준다. 마지막으로, ESG 성과가 높은 기업은 회사 의 명성을 강화하고 이해관계자와의 관계를 강화하는 데 중요한 역할 을 하는 것으로 나타났다. 이러한 연구 결과는 ESG의 중요성을 재확 인하고, 지속 가능한 경영에 대한 비즈니스 케이스를 제공하는다. 최근의 학술 연구는 ESG 점수가 중국 상장 기업의 기업 성과에 미 치는 중요한 영향을 밝혀내었다. ESG 점수와 기업 성과 사이의 관계 는 대체로 긍정적이지만, 이는 산업 유형, 규제 환경, 기업 내 ESG 성 숙도 등의 요인에 따라 달라질 수 있다는 연구 결과가 제시되었다. 또한 ESG를 중심으로 한 기업들이 구현, 보고, 그리고 복잡한 이해관 계자 기대 관리와 관련한 도전과제에 직면할 수 있다는 점도 강조되 었다. 따라서 ESG 점수, 기업 성과, 그리고 보다 넓은 사회 경제적 및 환경적 맥락 간의 상호작용을 더욱 잘 이해하기 위해 지속적인 연구 가 필요하다. 또한, 혁신 능력과 제품 개발 능력이 중국 상장 기업의 기업 성과에 미치는 영향을 연구하는 것이 최근 학문의 중점 분야이다. 혁신 능력 은 경쟁 우위를 확보하고 지속 가능한 성장을 생성하는 중요한 원천 이며, 제품 개발 능력은 시장의 변화에 빠르게 적응하고 고객의 요구 를 충족하는 데 중요하다. 이 두 능력이 상호 보완적으로 작용하여 기업 성과를 향상시킬 수 있지만, 리소스 과다 투입이나 전략적 불일 치 등의 도전과제를 야기할 수도 있다는 연구 결과도 제시되었다. 이 러한 연구는 기업의 능력과 성과 사이의 미묘한 상호작용에 대한 깊 은 이해를 제공하며, 이를 통해 경쟭력이 강하고 지속 가능하며 성과 가 우수한 기업을 육성하는 데 중요한 통찰력을 제공하는다. 본문의 연구 방법은 이론적 분석과 기존 문헌의 요약에 따르면 ESG 점수는 기업성과에 영향을 미친다. 혁신 역량과 제품 개발 역량 은 모두 기업 성과에 영향을 미친다. 이러한 논리를 바탕으로 ESG 점 수가 기업 성과에 영향을 미치는 연구 모델을 구성하였다. 이러한 논 리를 바탕으로 <그림 3-1>과 같이 연구 모델을 구성하였다. 모델은 혁신역량과 제품개발역량의 매개효과를 중심으로 ESG점수를 독립변 수로, 기업성과를 종속변수로 사용한다. 이 기사의 주제는 ESG 점수가 상장사의 기업 성과에 미치는 영향 이다. 이 글의 연구대상은 A주식 상장기업이며, 선정된 자료는 2012년 부터 2022년까지 11년간 매년 자료이다. 모든 데이터는 CSMAR 데이 터베이스와 WIND 데이터베이스에서 제공된다. 본문의 연구 결과 은 분석 결과 ESG 점수는 기업 성과에 대해 직접 적이고 긍정적인 영향을 미치며, 이는 환경(E), 사회(S), 지배구조(G)의 세 가지 성분 각각에 대해서도 동일하게 나타났다. 또한 ESG 점수는 혁신능력과 제품개발능력에도 긍정적인 영향을 미쳤으며, 이들 두 능 력 모두 기업 성과와 긍정적인 상관관계를 보였다. 이러한 결과는 ESG 점수가 기업 성과를 높이는 데 있어 혁신능력과 제품개발능력이 중요한 매개 역할을 한다는 가설을 지지하는 것으로 나타났다. 이 연 구 결과는 ESG 성과가 기업 성과에 미치는 영향에 대한 이해를 더욱 확대시키고, 특히 중국 상장기업의 맥락에서 이러한 관계에 대한 이 해를 높이는 데 기여하였다. 본문의 연구 정책 권장 사항 은 ESG(환경, 사회 및 거버넌스) 점수, 혁신 역량, 제품 개발 역량 및 확고한 성과 사이의 강력한 연관성을 보여주는 10가지 가설 모두에 대한 강력한 지지를 제공하는다. 첫째, ESG 성능 향상 정책◦경험적 증거는 첫 번째 가설을 강력하 게 검증하여 ESG 점수와 기업 성과 사이에 중요한 상관관계를 확립 하는다. 또한 하위 가설은 ESG(환경(E), 사회(S) 및 거버넌스(G) 성과 의 각 요소가 기업 성과와 독립적으로 상관관계가 있음을 나타낸다. 둘째, 정부 기관, 산업 협회 및 NGO는 기업이 ESG의 이점과 이를 비즈니스 모델에 통합하는 방법을 이해할 수 있도록 ESG 교육 및 워 크샵을 실시해야 한다. 협업 플랫폼을 구축하여 모범 사례 및 성공 사례를 공유함으로써 ESG를 지속적으로 개선하는 문화를 조성할 수 있다. 셋째, 아울러 교육기관들이 교육과정에 혁신과 지속가능성을 접목해 기업성과를 견인하는 데 있어 ESG와 혁신의 가치를 이해하는 미래 리더를 양성하도록 촉구해야 한다. 넷째, 책은 지속 가능한 제품 개발을 지원하고 장려하기 위해 설계 되어야 한다. 기업은 사회적 또는 환경적 문제를 해결하고 ESG 기준 을 충족하는 제품을 개발하는 데 집중해야 한다. 정부는 지속 가능한 제품 개발에 집중하는 기업을 지원하기 위해 보조금 또는 보조금을 제공할 수 있다. 본문의 연구 실천적 건의 은 기업, 특히 중국 기업이 최적의 ESG 점수를 달성하고 이러한 점수를 사용하여 혁신 및 제품 개발 역량을 개선하여 궁극적으로 기업 성과를 개선할 수 있는 로드맵을 제공하는 것이다. 첫째, ESG 통합 향상 »기업들은 ESG 점수와 개별 구성요소가 기업 성과와 상당한 상관관계가 있음을 인식하고 ESG를 핵심 전략 프레임 워크로 통합하는 기능을 강화해야 한다. 둘째, 환경적 측면에서 기업은 자원 사용을 최적화하고, 폐기물을 줄이고, 탄소 발자국을 줄이고, 생태학적 책임을 키울 수 있다. 사회 적 관점에서 기업들은 노동권, 다양성과 포용, 지역사회 참여, 소비자 보호를 포함한 노동자 복지를 우선시해야 한다. 거버넌스 조치에는 투명성, 윤리적 비즈니스 관행 및 이해관계자 참여가 포함될 수 있다. 셋째, 또한 기업은 이사회 내에 ESG 전담 위원회를 설립하여 ESG 성과를 감독해야 한다. 모든 조직 수준에 걸쳐 지속 가능한 문화를 조성하기 위해 직원 교육과 워크숍을 정기적으로 실시해야 한다. 넷째, 혁신 역량 강화 »기업은 ESG 점수와 기업 성과 간의 관계에 서 ESG 점수, 혁신 역량 및 혁신 역량의 매개 역할 간의 상관 관계를 인식하여 지속 가능성 중심의 혁신을 전략적 패브릭에 통합해야 한 다. 본문의 연구의 제한점 은 중국의 A 주식 상장 기업에만 집중되어 있다. 이는 특정 맥락에서 ESG 역학에 대한 깊이와 이해를 제공하지 만, 결과의 일반화 가능성을 다른 시장이나 지역으로 제한할 수 있다. 첫째, 데이터 수집을 위해 선택된 기간은 2012년부터 2022년까지이 다. 이 기간은 광범위한 데이터 세트를 제공하지만, 이러한 날짜 이전 또는 이후에 발생한 ESG 환경의 중요한 이벤트나 변화를 놓칠 수 있 다. 둘째, ESG 요인의 복잡성과 다면적인 특성으로 인해 정확한 측정이 어려울 수 있다. 이 연구는 CSMAR 데이터베이스와 WIND 데이터베이 스의 ESG 점수에 의존한다. 셋째, 어떤 연구에서도 변수 편향이 생략될 가능성이 존재한다. ESG, 혁신 기능 및 제품 개발 기능 외에도 기업 성과에 영향을 미치 는 다른 요인이 있을 수 있다. 시장 상황, 기업 규모, 산업, 경제적 요 인 등의 변수도 기업 실적에 영향을 미칠 수 있다. 넷째, 패널 데이터 회귀 분석은 개별 이질성을 제어하고 시간 변동 요인의 영향을 포착할 수 있다는 점에서 유리하지만 인과 관계를 설 정하는 데는 최선의 방법이 아니다. The role of Chinese listed companies in economic development, including aspects such as economic growth, innovation, and socio-economic transformation, has been extensively researched in recent academia. The studies highlight how these companies foster capital formation, promote efficiency enhancements, create an environment that supports the growth of advanced industries, and drive global integration. However, they also suggest the multi-dimensional influence that warrants further exploration due to concerns related to social inequality associated with the growth of these companies. In addition, there has been a rise in research regarding the relationship between Environmental, Social, and Governance (ESG) scores and the corporate performance of Chinese listed companies. Some studies suggest a positive correlation between ESG scores and financial performance, innovation, and corporate reputation. However, complexities exist depending on factors like the type of industry, regulatory environment, and the level of ESG maturity, as well as challenges related to ESG implementation and stakeholder management. Finally, research investigating the impact of innovation capability and product development capability on corporate performance has revealed how these capabilities can enhance market positioning and financial performance. The research questions in this paper are, first, is there a correlation between ESG scores and corporate performance among Chinese listed companies? Are the environmental, social, and governance components of ESG each independently associated with corporate performance? Second, is there a correlation between ESG scores and innovation capability among Chinese listed companies? Third, does innovation capability mediate the relationship between ESG scores and corporate performance of Chinese listed companies? Fourth, is there a correlation between ESG scores and product development capability among Chinese listed companies? Finally, does product development capability mediate the relationship between ESG scores and corporate performance among Chinese listed companies? The purpose of the study in this paper is to focus on the significant role that Chinese listed companies have played in economic development. The correlation between China's astonishing economic growth and the development of its listed companies demonstrates their pivotal role in capital formation and enhancing economic efficiency. Moreover, these companies have contributed significantly to China's innovation-driven growth strategy and played a vital role as key players in global economic integration. However, this development has had side effects such as increasing social inequality, which requires further in-depth research in the future. In addition, research into the relationship between Environmental, Social, and Governance (ESG) scores and the performance of Chinese listed companies is actively underway. Studies have found that companies with strong ESG performance can improve their financial performance through improved operational efficiency, risk management, and easier fundraising. Companies with high ESG scores also show active innovation activities, which emphasizes their strategic importance. Lastly, companies with high ESG performance play a critical role in strengthening the company's reputation and enhancing relationships with stakeholders. These research results reaffirm the importance of ESG and provide a business case for sustainable management. Recent academic research has highlighted the significant influence of ESG scores on the corporate performance of Chinese listed companies. The relationship between ESG scores and corporate performance is generally positive, but studies have suggested that this could vary depending on factors such as industry type, regulatory environment, and ESG maturity within the company. It was also highlighted that companies focusing on ESG can face challenges related to implementation, reporting, and managing complex stakeholder expectations. Thus, continuous research is needed to better understand the interactions between ESG scores, corporate performance, and the broader socio-economic and environmental context. Furthermore, researching the impact of innovation capability and product development capability on the corporate performance of Chinese listed companies is a recent academic focus. Innovation capability is a crucial source for securing competitive advantage and generating sustainable growth, while product development capability is vital in quickly adapting to market changes and meeting customer demands. While these two capabilities can mutually enhance corporate performance, research has also suggested potential challenges such as excessive resource input or strategic misalignment. These studies provide deep insights into the subtle interactions between corporate capabilities and performance, offering vital insights for nurturing competitive, sustainable, and high-performing companies. The research method in this paper is based on theoretical analysis and a summary of existing literature, suggesting that ESG scores influence corporate performance. Innovation capability and product development capability both affect corporate performance. Based on this logic, a research model was constructed that examines the impact of ESG scores on corporate performance. The model uses ESG scores as independent variables and corporate performance as dependent variables, focusing on the mediating effects of innovation and product development capabilities. The topic of this article is the impact of ESG scores on the corporate performance of listed companies. The research targets A-share listed companies, and the selected data span 11 years from 2012 to 2022. All data are provided by the CSMAR and WIND databases. The research findings in the main text show that the ESG score directly and positively impacts corporate performance, and this is also true for each of the three components - environment (E), society (S), and governance (G). The ESG score also had a positive impact on innovation capability and product development capability, both of which showed a positive correlation with corporate performance. These results support the hypothesis that innovation and product development capabilities play an important mediating role in enhancing corporate performance with the ESG score. This study contributes to a deeper understanding of the impact of ESG performance on corporate performance, particularly in the context of Chinese listed companies. The policy recommendations from the main text strongly support all ten hypotheses showing a strong correlation between ESG (Environment, Society, and Governance) scores, innovation capabilities, product development capabilities, and robust performance.First, ESG performance improvement policies◦Empirical evidence strongly validates the first hypothesis establishing a significant correlation between ESG scores and corporate performance. Sub-hypotheses also show that each element of ESG performance (Environment(E), Society(S), and Governance(G)) is independently correlated with corporate performance.Second, government agencies, industry associations, and NGOs should conduct ESG education and workshops to help companies understand the benefits of ESG and how to integrate it into their business models. By sharing best practices and success stories through collaborative platforms, a culture of continuous ESG improvement can be created.Third, it urges educational institutions to incorporate innovation and sustainability into their curricula, fostering future leaders who understand the value of ESG and innovation in driving corporate performance.Fourth, strategies should be designed to support and encourage sustainable product development. Companies should focus on developing products that address social or environmental issues and meet ESG criteria. Governments may provide subsidies or grants to support companies focusing on sustainable product development. The practical suggestions from the main text provide a roadmap for companies, especially Chinese companies, to achieve optimal ESG scores and use these scores to improve their innovation and product development capabilities, ultimately improving corporate performance.First, ESG integration enhancement »Companies should recognize that ESG scores and individual components have a significant correlation with corporate performance and strengthen the ability to integrate ESG as a core strategic framework.Second, from an environmental perspective, companies can optimize resource use, reduce waste, reduce their carbon footprint, and increase ecological responsibility. From a social perspective, companies should prioritize workers' welfare, including labor rights, diversity and inclusion, community involvement, and consumer protection. Governance measures can include transparency, ethical business practices, and stakeholder engagement.Third, companies should also establish an ESG dedicated committee within the board of directors to supervise ESG performance. Regular employee training and workshops should be conducted to create a sustainable culture at all organizational levels.Fourth, enhancing innovation capabilities »Companies should integrate sustainability-centered innovation into their strategic fabric by recognizing the correlation between ESG scores, innovation capabilities, and the mediating role of innovation capabilities in the relationship between ESG scores and corporate performance. The limitations of this research are that it focuses solely on A-share listed companies in China. This provides depth and understanding of ESG dynamics in a specific context but may limit the potential for generalization of results to other markets or regions.First, the selected period for data collection is from 2012 to 2022. This period provides a broad dataset, but it may miss significant events or changes in the ESG environment occurring before or after these dates.Second, the complexity and multifaceted nature of ESG factors may make accurate measurement difficult. This study relies on the ESG scores from the CSMAR and WIND databases.Third, the possibility of omitted variable bias exists in any research. Besides ESG, innovation capabilities, and product development capabilities, there might be other factors influencing corporate performance. Variables like market conditions, company size, industry, economic factors, etc. may also affect corporate performance.Fourth, while panel data regression analysis is advantageous in controlling for individual heterogeneity and capturing the influence of time-varying factors, it is not the best method to establish causal relationships.

Essays on the relationship between design and technology innovation : The synergistic interaction effect on firm performance

허지수 서울대학교 대학원 2024 국내박사

현대의 제품경쟁 시장에서는 단순히 선진 기술을 개발하거나 기술 및 기능적 요소를 기반으로 한 제품 차별화 전략은 기업의 경쟁우위를 보장하는데 한계가 있다. 기술적으로 뛰어나더라도 소비자의 심미적 요구사항에 충족하지 못한 제품은 시장에서의 성공을 단정할 수 없다. 제품은 갈수록 기능적으로 비슷해지고, 경쟁은 디자인에서 비롯된다. 디자인은 단순히 제품의 외관을 넘어서 사용자 편의성, 브랜드 이미지, 제품에 대한 인지적 가치와 직결된다. 따라서 시장에서 성공하기 위해서는 제품의 기술적 측면과 디자인적 측면을 신제품개발 과정 전반에 걸쳐 통합적으로 고려하고 개발해야 한다. 본 학위논문은 디자인혁신과 기술혁신 간의 관계를 연구한다. 세부적으로, 디자인혁신이 복잡한 지식의 활용에 미치는 영향, 디자인과 기술개발에 모두 참여하는 디자인 엔지니어의 지식기반 및 협력패턴의 특징적 요소, 디자인과 기술의 통합적 제품 개발이 경영 성과에 미치는 효과에 대해 탐구하는 세 가지 소 연구로 구성된다. 각 소 연구의 실증분석을 위해 1980년부터 2015년까지 미국에 본사를 둔 상장기업 특허 데이터를 활용한다. 각 소 연구에 대한 이론적 논의와 실증 분석 결과를 바탕으로, 디자인혁신에 대한 학술적 논의에 기여하고, 오늘날 제품경쟁에 참여하는 기업에게 성장을 주도할 수 있는 실질적인 함의를 제시한다. 첫 번째 장에서는 기술복잡도, 디자인혁신, 그리고 경영성과 간의 관계를 규명함으로써 복잡한 지식의 활용에 있어 디자인의 역할을 탐색한다. 주요 가설은 디자인혁신은 기술복잡도가 경영성과에 미치는 부정적인 효과를 긍정적으로 조절한다는 것이다. 1,743개의 미국 상장기업을 대상으로 한 패널 일반화최소자승법 분석을 통해 디자인혁신은 기업의 경영성과에 직접적인 양의 효과가 있을 뿐만 아니라 기술복잡도와 경영성과 간의 관계를 긍정적으로 조절하는 것을 확인한다. 디자인혁신은 복잡한 지식기반을 상업적으로 활용하고 상품화하는 데 기여한다. 첫 번째 장의 결과는 기업의 자원기반 관점에서 디자인이 기업의 제품 차별화와 경쟁우위를 달성할 수 있는 전략적이면서도 가치가 높으며, 모방이 어려운 무형자산으로 바라볼 수 있는 이론적·실증적 근거를 제시한다. 또, 동적역량 관점에서 기술집약 산업의 기업들은 제품 또는 기술의 생애주기에 따라 점차 기능 중심에서 형태 중심으로, 기술중심에서 디자인중심으로 혁신전략을 변화시키는 등의 적절한 대응이 필요함을 시사한다. 두 번째 장에서는 신제품개발에 참여하는 발명가를 디자인특허 및 기술특허 출원 여부에 따라 엔지니어, 디자이너, 디자인 엔지니어로 구분하고, 이들 간의 지식 포트폴리오와 협력 패턴을 비교한다. 사회연결망분석(Social network analysis)을 활용하여 각 기업에 대해 발명가로 구성된 사회적 네트워크와 지식요소로 구성된 지식네트워크를 구축한다. 이원고정효과모형을 통해 엔지니어가 디자인 엔지니어에 비해 지식네트워크 내 더 많은 연결성을 가지며 높은 지식의 결합 가능성을 보이는 것을 확인한다. 반면, 협력네트워크 내에서는 디자인 엔지니어가 엔지니어에 비해 더 많은 발명가와 협력할 뿐만 아니라, 이질적인 그룹 간의 소통을 돕는 연결자 또는 지식 중재자로서 역할하는 것을 확인한다. 두 번째 장의 결과는 디자인 엔지니어가 기업 내에서 주요한 협력자 및 지식이전의 촉진제로서의 역할을 수행함을 시사한다. 이들은 다학제적 위치를 활용하여 지식을 전파하고, 기업 내 디자인-기술 융합 제품개발 환경을 조성하는데 기여한다. 기업은 디자인 엔지니어를 통해 신제품개발 과정에서 다학제간 협력과 공동 의사결정을 촉진할 수 있음을 제시한다. 세 번째 장에서는 기업의 디자인 엔지니어링 역량 즉, 신제품개발 과정에서 디자인과 기술적 지식을 통합한 다학제적 이해 기반 제품개발이 기업의 경영성과에 미치는 직·간접적인 효과를 규명한다. 주요 가설은 디자인 엔지니어링 역량은 기업의 혁신 활동과 경영 성과 간의 관계를 긍정적으로 조절한다는 것이다. 기업의 디자인 엔지니어링 역량은 디자인 엔지니어의 수로 측정한다. 디자인 엔지니어는 디자인과 기술개발에 모두 참여하는 발명가로 다학제적 협력을 통해 기업 내 디자인적 사고를 전파하고, 학제 간 소통 및 지식 공유를 촉진한다. 이들은 기술적 지식과 디자인적 지식을 통합적으로 활용하여 디자인과 기술 간의 간극을 좁히고, 성공적인 제품 개발을 촉진하는데 중요한 역할을 한다. 특허의 발명가 정보를 활용하여, 디자인 및 기술 특허 공동 출원 여부를 바탕으로 디자인 엔지니어를 식별한다. 1,659개의 기업에 대한 패널 일반화최소자승법 분석을 활용하여 디자인 엔지니어링 역량은 기업의 혁신활동과 경영성과 간의 관계를 긍정적으로 조절하는 것을 확인한다. 세 번째 장의 결과는 제품 개발에서 디자인과 기술적 요소를 통합적으로 고려하고 개발하는 것이 중요함을 시사한다. 또한, 신제품개발에서 다학제적 지식을 보유한 디자인 엔지니어의 역할 및 중요성에 대한 실증적 근거와 함의를 제공한다. 기업은 디자인팀과 기술개발팀 간의 협력을 도모하고, 숙련된 디자인 엔지니어를 적극적으로 활용함으로서 기술개발과 시장성공 간의 간극을 최소화할 수 있음을 제시한다. 결론적으로 본 학위논문은 디자인혁신과 디자인-기술 융합이 제품혁신과 기업성장에 미치는 영향에 대한 이해를 높인다. 더불어, 디자인혁신에 대한 이론적 논의와 실증 분석을 통해 기업에게는 실무적으로 적용 가능한 함의를 제시하고, 학문적으로는 디자인혁신에 대한 학술적 논의를 확장한다. In today’s highly competitive markets, firms can no longer ensure a competitive advantage through the development of highly advanced technologies or differentiation based solely on technological and functional factors. Simultaneously, there is growing recognition that design and aesthetic factors can contribute to firms’ competitive advantage and profitability. This dissertation examines the relationship between design innovation and technology innovation. Each chapter here investigates the synergistic interaction effect of design and technology on product innovation and overall firm performance from the perspectives of knowledge, human capital, and organizational capability. To conduct empirical analyses for each chapter, this dissertation relies on patent data for US-headquartered publicly-traded firms from 1980 to 2015. This dissertation contributes to the academic discussion on product innovation and offers insights for managers aiming to foster innovation and promote firm growth in today’s dynamic and competitive business environment. The first study of the dissertation examines the relationship between technology complexity, design innovation, and firm performance to uncover the role of design innovation in exploiting complex technologies. Our main hypothesis is that design innovation positively moderates the negative effect that technology complexity has on firm performance. Focusing on 1,743 US firms, the results of panel generalized least square regressions confirm our hypotheses on the direct effect of design innovation on the financial performance of firms and its moderating effect on the relationship between technology complexity and firm performance. These findings suggest that design innovation mitigates the adverse effects of technology complexity on the exploitation or commoditization of knowledge stock. The results of the first study contribute to the resource-based view of the firm by recognizing design as a strategic resource that firms can leverage to gain a competitive advantage. Furthermore, the chapter offers insights into the interplay between technology complexity and design innovation, suggesting that firms operating in technology-intensive industries need to be particularly attuned to the role of design in exploiting complex knowledge and in different stages of a technology or product’s life cycle. These findings also align with the dynamic capabilities perspective, which emphasizes the importance of firms’ ability to adapt and respond to changes in their environment, such as a shift of emphasis in products from functions to forms or from technology-oriented innovation towards design-oriented innovation. The second study of the dissertation categorizes inventors in new product development into three primary groups: engineers, designers, and design engineers based on the type of patent applications they hold, and investigates their differences in knowledge portfolios and collaboration patterns. Two types of networks are constructed for each firm-period: a social network comprising inventors and a knowledge network consisting of knowledge elements. The results of inventor-time fixed-effects regressions show that, compared to engineers, design engineers are more densely connected with other inventors in the social network, although they have knowledge elements that are relatively disconnected in the knowledge network. The results of the second study provide empirical evidence that while design engineers may not be the primary drivers of technological innovation, they play important roles as key collaborators and facilitators of knowledge transfer within firms. They leverage their interdisciplinary position to disseminate knowledge and foster a design-engineering integrated new product development environment within the firm. These findings have significant implications for firms seeking to maximize the synergy between design and technology in their innovation process, highlighting the valuable role that design engineers can play in facilitating cross-functional collaboration and decision-making in the new product development process. The third study of the dissertation investigates the effects of firms’ capability to effectively integrate design and technology throughout the new product development process, which we refer to as ‘design-engineering capability,’ on financial performance and its moderating effect on the relationship between firms’ innovation activity and financial performance. Specifically, we argue that firms’ design-engineering capabilities are significant in leveraging the outcomes of their innovation activities for financial success. A firm’s design-engineering capability is measured by quantifying the number of design engineers, representing key individuals bridging the gap between design and technology and facilitating successful product development through interdisciplinary collaboration. Using inventor information from patents, design engineers are identified based on their association with design and technology patents. The results of panel generalized least squares regressions confirm our hypotheses on the direct effect of design-engineering capability on firm performance and its moderating effect on the relationship between innovation activity and firm performance. The results of the third study provide empirical evidence that firms’ design-engineering capabilities, as measured by the presence of design engineers, significantly impact their product development and overall firm performance. These findings make several theoretical contributions to the field of new product development and innovation. Furthermore, the results suggest that managers and decision-makers within firms should encourage collaboration between design and engineering teams, and prioritize the recruitment and retention of skilled design engineers. These professionals are critical in bridging the gap between design and technology, facilitating successful product development and translating innovative ideas into marketable products. In summary, this dissertation significantly advances our understanding of the profound influence of design innovation and its collaborative interplay with technology innovation on firm performance. The research not only expands theoretical discussions in the field of product innovation but also provides practical insights for managers and decision-makers.

(The) moderating effect of green innovation on the linkage between internationalization and financial performance

이지영 Graduate School, Korea University 2022 국내석사

The purpose of this study is to examine the moderating effect of green innovation on performance when companies expand their business internationally. Countless issues related to eco-friendly products and environmental pollution have become chronic problems for companies, and several companies have developed solutions through product innovation such as recycling and upcycling. Expectations of financial performance in green innovation are increasing but it is unclear whether it will enhance companies’ profits. Empirical research has been conducted to answer this research question. As a proxy of green innovation, green patents were collected by multinationals (South Korea, the United States, Japan, China, India and the Netherlands) and the effectiveness of eco-friendly innovation was examined. The result shows that companies who have entered overseas showed a higher significance in P-value in linear regression as years pass by, and have a positive tendency in financial performance. However, when green innovation acted as a moderating effect, the significance of P-value was not visible, and showed negative outcome in financial performance. Which, means the moderating effect of green innovation on the linkage between internationalization and performance is not positive. The result displays that financial performance enhance in the long run when firms expand their market to foreign countries. However, the moderating effect of green innovation on the linkage between internationalization and performance is not positive. From here, it can be interpreted that green innovation is moderating negatively and has no significant effect on companies’ foreign market expansion. Thus, companies should reexamine the role of green innovation when they enter oversea markets.

STEPI 기술혁신활동조사 통계에서 본 혁신의 유형에 따른 기업실적 변화에 관한 연구: 한국 제조기업 중심으로

김철수 포항공과대학교 기술경영대학원 2011 국내석사

We studied the effect of innovation activity on company performance and investigated which types of innovation were most effective to the growth of manufacturing firms. Samples were divided into two categories: large size companies and small-and-medium size companies according to classification of the Korean Government. The study used data from “Technology Innovation Activity Survey” of manufacturing industry, which was conducted by the Science & Technology Policy Institute (STEPI) in 2008. The survey was conducted from 2005 through 2007 in order to monitor technology innovation activities of Korean manufacturing firms. In this study, technology innovation activity was categorized by four different types of innovation: product, process, organization, marketing innovation. We found that the effect of innovation activity on company performance varied according to size of company, and that there existed a significant difference in performance among the types of innovation. Exercising innovation activity and company performance does not always have positive correlation. The effect of innovation activity on company performance differed between large size companies and small-and-medium size companies. Innovation showed positive effects on the performance in the case of large companies especially process innovation and organization innovation. In the case of small-and-medium companies, they failed to show statistically significant association between innovation activity and company performance. Fast growing companies actively exercising innovation don’t show higher performance. However slow growing companies, actively exercising innovation showed higher performance especially product, process and organization innovation. We have analyzed the effect of combination of innovation. A combination of process and organization innovation resulted in the best performance for large companies with positive performance. Large companies showed a highest performance when they applied two types of innovation at the same time although most companies applied all four types of innovation. Large companies concentrating its resources into smaller number of innovation showed a better performance. Innovation activity did not make a better performance for both fast growing small and-medium companies and fast growing large companies. On the other hand, for small-and-medium companies, actively exercising innovation showed a higher performance. In the case of small-and-medium companies, it was desirable to concentrate on product innovation in order to maximize the company performance.

Increasing innovation through alliance portfolio management : coordinating partners, accommodating diversity, and aligning objectives

김진환 서울대학교 대학원 2016 국내박사

With the increasing importance of innovation outcomes, alliances have become important strategic instruments allowing firms to take advantage of new knowledge for realizing innovation. For example, in some high-tech industries such as computer software and hardware, biotechnology, and telecommunications, forming alliances to support growth and innovativeness is a ubiquitous phenomenon. Firms becoming engaged in multiple simultaneous alliances face new management tasks beyond simply managing the individual alliances. Alliance and innovation literature has expanded the point of view from individual alliances and their resulting performance to also consider the alliance portfolio – all the alliances conducted by a firm – and how to manage and use it to generate performance. Considering the interests in the extant literature and the significance of tasks relating to alliance portfolios, this dissertation includes three different components of alliance portfolio management, namely, ‘coordinating partners’, ‘accommodating diversity’, and ‘aligning objectives’. It is important to realize that these components both individually and collectively contribute to the firm’s innovation outcome. Each component, however, requires a different portfolio management strategy to obtain the best outcome: In terms of coordinating partners, as firms increase the size of their alliance portfolios, the innovation outcome is largely depending on partners’ relationships. In terms of accommodating diversity, firms need to increase their alliance experience and proximity to their partners to accommodate diverse knowledge from their alliance portfolios. In terms of aligning objectives, for more effective innovation, firms should embrace the ambidexterity in their alliance portfolios and support their alliances with an appropriate innovation intent. This dissertation empirically examines the effects of the constituents of each component on innovation outcome to research the influence of alliance portfolio management on realizing innovation. When firms build up their alliance portfolios, they have to coordinate the relationships among their partners as well as the size of their alliance portfolios. The relationships, which include cooperative as well as competitive ties among the focal firm’s partners, affect the flow of knowledge within the focal firm’s alliance portfolio and thus influence the amount of benefits the focal firm gains from its alliance resources. Employing the resource-based view and a social network perspective, Chapter 3 examines the impact of network resources in alliance portfolios on the focal firms’ innovation performance and how structural and competitive embeddedness in alliance portfolios positively or negatively moderates this impact. Results verify that a larger alliance portfolio leads to an improved innovation performance of the focal firm, but, at the same time, relationships among the focal firm’s partners are found to affect the link between alliance portfolio size and focal firm performance. Specifically, in terms of structural embeddedness, a cooperative and densely tied portfolio strengthens the positive impact of alliance portfolio size on the focal firm’s innovation performance. In terms of competitive embeddedness, a portfolio with severe competition among the partners weakens the positive impact and leads to a reduced innovation performance. These findings suggest firms to increase their alliance portfolio size and, at the same time, to keep an eye on their portfolios’ two-sided network characteristics, i.e., the connectivity and competition among their partners. Firms also need to be able to accommodate the diverse knowledge within their alliance portfolios. While an alliance portfolio which consists of diverse partners is usually beneficial to the focal firm, the maximum level of diversity that a firm can handle is determined by its extensive absorptive capacity. Chapter 4 examines the relationship between alliance portfolio diversity and innovation performance and how the absorptive capacity, developed by the focal firm’s alliance experience and the proximity of knowledge between the focal firm and its alliance portfolio, moderates this relationship. Empirical results verify an inverted u-shape relation between alliance portfolio diversity and focal firms’ innovation performance. However, with accumulated alliance experience and higher proximity to partners, focal firms can accommodate more diversity in their alliance portfolios, which contributes to an improved innovation performance. These findings suggest that the maximum level of alliance portfolio diversity which contributes to innovation performance is limited, however, firms can learn to take advantage of higher diversity by building up their alliance experience and placing relatively proximate partners in their alliance portfolios. Finally, firms should align the goals of their alliance portfolios so that they can enhance the effectiveness of their innovation outcomes. Collaborative decision making through alliances contributes to a profound understanding toward market needs and market adaptation. The evaluation of the collaborative output by collaborators with different backgrounds also increases the practicality and marketability of the resulting innovations. Thus, alliance portfolios do not only contribute to immediate innovation outcomes but can also serve to increase innovation effectiveness as well. Chapter 5 investigates the influence of alliances which aim to obtain new knowledge, i.e. exploratory alliances, on firms’ innovation effectiveness. Moreover, this chapter examines some external and internal conditions which strengthen the influence of such alliances on innovation effectiveness. The results of the empirical study verify a positive relationship between the commitment to exploratory alliances and innovation effectiveness as measured by the percentage of revenue from new products. It is also confirmed that exploitative alliances and internal innovation intent positively moderate this relationship. These findings suggest that firms’ alliance portfolios can be aligned for more effective innovation outcomes through external and internal efforts. Externally, firms should organize ambidextrous alliance portfolios, and, internally, firms need to support their alliance objectives with relevant innovation intents. In conclusion, this dissertation highlights major building blocks of alliance portfolio management that contribute to the focal firm’s innovation outcome. This dissertation provides a number of important findings and implications corresponding to each component of alliance portfolio management: First, this dissertation confirms the moderation effect of partners’ relationships on the link between alliance portfolio size and innovation performance and thus suggests firms to pay attention to coordinating their partners. Next, this dissertation investigates the role of alliance experience and proximity in accommodating diversity. This integrative approach to accommodating diversity shows how firms can learn to benefit from diversity in their alliance portfolios. Finally, this dissertation confirms the role of ambidextrous alliances and internal innovation intent in aligning alliance portfolios. This finding suggests firms to balance different types of alliances, i.e., exploratory and exploitative alliances, and to support alliances by integrating them into the companywide strategy. Overall, this dissertation shows that with proper alliance portfolio management, a firm’s alliance portfolio is an important strategic element which contributes to the sourcing of external knowledge and realizing innovation.

중소제조업의 기업가정신이 혁신성과에 미치는 영향 : 한국 중소기업의 상품혁신을 중심으로

판피셋 전북대학교 일반대학원 2023 국내석사

This paper conducted a study on the effect of entrepreneurship in the Korean small and medium-sized manufacturing industry on innovation performance, focusing on product innovation in t he small and medium-sized manufacturing industry, but there are still limitations. The data of the original data used in this empirical study were used by the Institute for Science and Technology Policy (STEPI) on the "manufacturing sector of Korea's 2020 Technology Innovation Survey" of 4,000 companies. The empirical analysis results are as follows: First, entrepreneurship, an independent variable, will have a positive (+) effect on innovation performance. Therefore, because stable business procedures have had a positive effect on product innovation, companies need to make efforts to implement stable business procedures to improve product innovation performance. In particular, it was possible to shorten the resources and time required to develop new products through stable business procedures. This could speed up the launch of the product and strengthen market competitiveness. While maintaining stable business procedures, products can be continuously improved, which can ensure product innovation and continuity and increase the satisfaction of existing customers. Small and medium-sized manufacturing industries must carry out new and original work processing methods to increase product innovation performance due to the fact that new and original work processing methods have a positive (+) effect on product innovation. The reason is that new and original work handling methods play an important role in achieving product innovation. Exploratory experimenting with business opportunities has been shown to have a positive effect on the product innovation performance of small and medium-sized manufacturing industries, which has shown that companies should be firm in experimenting with business opportunities to further create innovative results. However, it was found that a drastic response to competition had a negative (-) effect on product innovation performance in the small and medium-sized manufacturing industry. Through this, there are competitive factors that prevent companies from investing enough time and resources to develop innovative products in a competitive environment. In addition, it was found that innovation performance may decrease due to changes in business models and internal market competition during competition. Next, it was confirmed that domestic group affiliates and overseas group affiliates, which are control variables, had a positive effect on product innovation. Through this, domestic group affiliates play a very important role in product innovation. In addition, overseas group affiliates play a major role in product innovation. Since overseas group affiliates have a high understanding of the local market, they can achieve local product innovation. It is possible to create new products by utilizing successful product innovation tested overseas, and to develop products suitable for the local market. Therefore, there is a need to explore various research methods on entrepreneurship to promote corporate innovation performance. In addition to entrepreneurship, research on corporate characteristics, industrial characteristics, and environmental characteristics is needed to expand product innovation performance. In particular, it is necessary to find out why companies that have improved their family businesses and have low innovation performance and what caused them to do so and explore ways to improve them.