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벤처기업 외부협력에 대한 특허의 신호효과: 벤처캐피탈과 성장단계의 조절효과

The Signaling Effect of Patent on Venture Firm’s External Collaboration

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주제분류경영학

초록

본 논문은 신호이론(signaling theory)의 관점을 기반으로 벤처기업의 특허가 협력파트너의 다양성에 미치는 영향을 살펴보고, 이와 함께 벤처기업의 성장단계와 벤처캐피탈 지분의크기가 특허와 협력파트너 다양성 간의 관계에 미치는 조절효과를 살펴본다. 벤처기업의 외부협력과 관련한 기존 연구는 외부협력이 기업의 지속 가능한 혁신이나 성과에 미치는 영향을 검증했다. 외부협력의 선행요인에 관한 연구도 다수 있지만, 이들은 주로 협력이 필요한벤처기업의 니즈(needs)에 초점을 두었으며 협력 파트너의 니즈는 외면되어 왔다. 본 연구에서는 특허가 벤처기업의 질적 수준을 나타내는 신호(signal)로써 협력파트너의 다양성에 영향을 주며, 또한 벤처캐피탈 지분과 성장단계가 이러한 관계를 조절한다는 가설을 제기한다. 이를 검증하기 위해 중소벤처기업부 <벤처기업정밀실태조사>의 2016년부터 2018년까지의 조사자료를 활용했다. 분석결과, 벤처기업의 특허 수는 협력파트너의 다양성을 확대하는 데 긍정적 영향을 미치는 것으로 나타났고, 벤처캐피탈 지분은 이 관계를 강화시키나 성장단계는약화시키는 유의미한 조절효과가 있음을 검증했다.

Abstract

This study examines the impact of venture firms' patents on the diversity of collaboration partners from the perspective of signaling theory. Additionally, it investigates how the growth stage and venture capital ownership size of venture firms moderate the relationship between patents and the diversity of collaboration partners. Previous research on external collaborations of venture firms has predominantly focused on verifying the impact of such collaborations on the sustainable innovation or performance of companies. While there have been numerous studies on the antecedents of external collaborations, they have primarily centered around the needs of venture firms requiring collaboration, with little attention given to the needs of collaboration partners. In this study, we propose the hypothesis that patents serve as signals indicating the qualitative level of venture firms and influence the diversity of collaboration partners. Additionally, we suggest that the size of venture capital ownership and the growth stage of venture firms moderate this relationship. To validate this hypothesis, we utilized data from the <벤처기업정밀실태조사> conducted by the Ministry of SMEs and Startups from 2016 to 2018. The analysis revealed that the number of patents held by venture firms positively influenced the expansion of diversity among collaboration partners. Furthermore, venture capital ownership enhanced this relationship, while the growth stage of the venture firms attenuated it, demonstrating significant moderating effects.

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