세계철강산업 주도권 이동모델의 실증연구 = 기업파워이론의 적용

다국어 초록 (Multilingual Abstract)

How does a firm obtain to superior performance? Contemporary theories that answer to this question have been dealt with firm behavior in terms of static viewpoints and reductionistic standpoint. Therefore, most theory do not recognize interaction of the firm and industry -a major determinant of firm performance- and the dynamic adaptation process between industry evolution and firm behavior, nor consider firm as a holistic one. The Firm Power Theory is new dynamic theory to overcome the limitation of existing theories. In Firm Power Theory, a firm performance is determined by firm power and industry power at a given point in time (initial condition) and the strategic behavior of how firms adapt to the industry driving forces during a time period. The firm power theory could explain the rise and fall of firms in the industry during a given time period, and allows for understanding their causes, conditions, and basic rules(The principles of the industrial hegemony shift). Therefore, this paper presents and verifies a model of industrial hegemony shifts based on the Firm Power Theory. Based upon the laws of interaction in the industrial hegemony shifts model, several hypotheses are made and verified empirically by dealing with the evolution of the world steel industry at the corporate level. The results of this research indicate that industrial hegemony shifts depend on the timing of the technology selection and the intensity of endeavor to internalize technology. This paper implies much in terms of the importance of efforts to seek new, key technologies and activities to internalize them. Future research needs to be done in other industries as well in order to make sure whether these findings can be generalized. Furthermore, research efforts should recognize a firm`s business paradigm fit as the initial conditions.