본문 바로가기
KERD
논문KCI 등재

여유자원의 유형과 조직성과에 관한 종단적 연구: 전문경영인의 시각에서 본 시사점을 중심으로

A Longitudinal Study on Slack Resources and Corporate Performance: From the Perspective of CEO

김병근|김병조
한국전문경영인학회|2011.12|전문경영인연구 (Journal of CEO and Management Studies)|제14권 제3호|pp. 1-24

0

조회

0

다운로드

7

인용

0

참고문헌

키워드

longitudinal studyfinancial performance혁신성과재무성과종단적 연구innovation performance지연효과여유자원slack resourcelag effect

초록

여유자원이 조직특성에 미치는 영향에 대한 연구는 비교적 많이 이루어져 왔지만, 선행연구들과 달리 경쟁환경 및 조직특성이 다른 국내 기업을 대상으로 한 연구는 충분히 이루어지지 않았다. 이런 관점에서 본 연구는 국내 기업을 대상으로 혁신 및 성과 창출에 여유자원이 어떤 형태로 고려될 수 있는지에 관한 시사점을 도출하고자 한다. 특히, 여유자원을 흡수되지 않은 여유와 흡수된 여유로 구분하여, 조직의 혁신성과 및 재무성과에 미치는 서로 다른 효과를 측정하는데 초점을 맞추고 있다. 실증 분석을 위해, 317개 상장제조업체를 대상으로 2000년부터 2007년까지 8개년 동안의 자료를 이용해 종단적 연구를 진행하였다. 연구 결과를 요약하면 다음과 같다. 흡수되지 않은 여유는 혁신성과와 재무성과 모두에 유의한 정(+)의 영향을 미치는 것으로 나타났으며, 흡수된 여유는 혁신성과에는 유의한 정(+)의 영향을 미쳤지만 재무성과에는 부(-)의 영향을 주는 것으로 나타났다. 또한, 흡수된 여유는 매출액 대비 연구개발비로 측정된 경우 혁신성과에 유의한 정(+)의 영향을 미치는 것으로 나타난 반면, 매출액 대비 판매관리비로 측정된 경우에는 유의한 영향을 미치지 않는 것으로 나타났다. 이러한 연구 결과를 토대로 본 연구가 가지는 함의를 도출하고 연구의 한계 및 향후 연구를 위한 제언 등을 정리하였다.

Abstract

Though there have been many studies on the effect of slack resource to performance or innovation, interestingly, few studies consider the context specific issues. This study aims, in Korean context, to reveal how slack resources involved in the decision-making process affect firm's innovation and financial performance, and how innovation influence financial performance. From this rationale, this paper seeks, through an examination of the relationship, to bridge the gap between the type of slack and organizational performance. We classified slack resources into two different form, unabsorbed vs. absorbed, which followed previous works. We hope to contribute to both innovation and strategy research by providing a better understanding of whether or not distinct forms of organizational slack affect firm’s organizational innovation and financial performance. For the empirical test, the data from 317 publicly traded companies from 2000 to 2007 are included in a sample and analyzed longitudinally. The results indicate a positive relationship exists between slack resources and innovation performance. However, absorbed slack showed a mixed result. As hypothesized, there exists a positive relationship between unabsorbed slack and financial performance, a negative relationship between absorbed slack and financial performance. In this relationship, the type of slack resource does not show a mixed result. We hope this study can contribute to enhance firm's resources management capacity.

참고문헌 (60)

  1. 김경묵, "환경 특성,조직여유 그리고 혁신", 인사조직연구, 9(2), pp.215~248 (2001)
  2. 김이태, "사회조사분석" (2000), 영미디어
  3. Bergh,D, "Predicting Ddivestiture of Unrelated Acquisitions: An Integrative Model of Exante Conditions", Strategic Management Journal, 18, pp.715~731 (1997)
  4. Bergh, D, "Portfolio Restructuring and Limits to Hierarchical Governance: The Effects of Environmental Uncertainty and Diversification Strategy", Organization Science, 9, pp.87~102 (1998)
  5. Bourgeois, J.L, "Organizational Slack and Political Behavior within Top Management Teams", Academy of Management Proceedings, 4, pp.3~47 (1983)
  6. Bourgeois,L.J, "On the Measurement of Organizational Slack", Academy of Management Review, 6, pp.29~39 (1981)
  7. Boyd, B., "Divergence between Archival and Perceptual Measures of the Environment: Causes and Consequences", Academy of Management Review, 18, pp.204~226 (1993)
  8. Bresman, H., "Knowledge Transfer in International Acquisitions", Journal of International Business Studies, 30, pp.439~462 (1999)
  9. Bromiley,P, "Testing a Causal Model of Corporate Risk-taking and Performance", Academy of Management Journal, 34, pp.37~59 (1991)
  10. Chen, W, "Situational and Institutional Determinants of Firms’ R&D Search Intensity", Strategic Management Journal, 28, pp.369~381 (2007)
  11. Cheng, J, "Organizational Slack and Response to Environmental Shifts; The Impact of Resource Allocation Patterns", Journal of Management, 23(1), pp.1~18 (1997)
  12. Christensen, C.,M., "The Innovator’s Solution" (2003), Harvard Business School Publishing Corporation
  13. Crepon, B, "Estimating the Innovation Function from Patent Numbers: GMM on Count Panel Data", Journal of Applied Econometrics, 12(3), pp.243~263 (1997)
  14. Cyert, R.M, "A Behavioral Ttheory of the Ffirm" (1963), Prentice-Hall
  15. D’Aveni, R.A, "Economies of Integration Versus Bureaucracy Costs: Does Vertical Integration Improve Performance", Academy of Management Journal, 37, pp.1167~1206 (1994)
  16. Daniel, F., "Slack Resources and Firm Performance; A meta-analysis", Journal of Business Research, 57, pp.565~574 (2004)
  17. De Carolis, D.M., "Weathering the Storm: The Benefit of Resources to High-technology Ventures Navigating Adverse Events", Strategic Entrepreneurship Journal, 3(2), pp.147~160 (2009)
  18. De Castro, J, "Order of Market Entry, Competitive Strategy, and Financial Performance", Journal of Business Research, 33, pp.165~177 (1995)
  19. Finkelstein, S, "How Much does the CEO Matter? The Role of Managerial Discretion in the Setting of CEO Compensation", Academy of Management Journal, 41, pp.179~199 (1998)
  20. Geiger, S.W, "A multidimensional Examination of Slack and its Impact on Innovation", Journal of Managerial Issues, 14, pp.68~84 (2002)
  21. George,G, "Slack Resources and the Performance of Privately Held Firms", Academy of Management Journal, 48, pp.661~676 (2005)
  22. Greenley, G.E, "A Comparison of Slack Resources in High and Low Performing British Companies", Journal of Management Studies, 35(3), pp.377~398 (1998)
  23. Greve,H, "A Behavioral Theory of R&D Expenditures and Innovate-ons: Evidence from Shipbuilding", Academy of Management Journal, 46, pp.685~702 (2003)
  24. Hagedoorn, J, "Measuring Inovative Performance: Is there an Advantage in Using Multiple Indicators", Research Policy, 32, pp.1365~1379 (2003)
  25. Hambrick, D.C, "Large Corporate Failures as Downside Spirals", Administrative Science Quarterly, 33, pp.1~23 (1988)
  26. Hambrick, D.C., "The Influence of Top Management Team Heterogeneity on Firms’ Competitive Moves", Administrative Science Quarterly, 41, pp.659~684 (1996)
  27. Henderson, A.D, "Information-processing Demands as a Determinants of CEO Compensation", Academy of Management Journal, 39, pp.575~606 (1996)
  28. Herold, D.M., "What is the Relationship between Organizational Slack and Innovation", Journal of Managerial Issues, 153, pp.372~392 (2006)
  29. Hitt, M.A., "The Importance of Resources in the Internationalization of Professional Service Firms: The Good, the Bad, and the Ugly", Academy of Management Journal, 49, pp.1137~1157 (2006)
  30. Hitt, M. A., "International Diversification: Antecedents, Outcomes, and Moderators", Journal of Management, 32, pp.831~867 (2006)
  31. Hitt, M., "Effects of Acquisitions on R&D Inputs and Outputs", Academy of Management Journal, 34, pp.693~706 (1991)
  32. Hoskisson, R.E., "Corporate Divestiture Intensity in Restructuring Firms: Effects of Governance, Strategy, and Performance", Academy of Management Journal, 37(5), pp.1207~1251 (1994)
  33. Hoskisson, R, "Construct Validity of an Objective (entropy) Categorical Measure", Strategic Management Journal, 14, pp.215~235 (1993)
  34. Jensen, M.C, "Theory of the Firm: Managerial Behavior, Agency Costs, and Ownership Structure", Journal of Financial Economics, 3, pp.305~360 (1976)
  35. Levinthal,D.A, "Adaptation on Rugged Landscapes", Management Science, 43, pp.934~950 (1997)
  36. Lin, W.T., "Organizational Slack and Firm's Internationalization; A Longitudinal Study of High-technology Firms", Journal of World Business, 44, pp.397~406 (2009)
  37. Mansfield,E, "Patents and Innovation: An Empirical Study", Management Science, 32, pp.173~181 (1986)
  38. Markides,C.C, "Diversification, Restructuring and Economic Performance", Strategic Management Journal, 16(2), pp.101~118 (1995)
  39. Martinez, R. J, "An Examination of Firm Slack and Risk-taking in Regulated and Deregulated Airlines", Journal of Managerial Issues, 153, pp.11~31 (2006)
  40. Miller, D, "The Resource-based View of the Firm in two Environments: the Hollywood Film Studios from 1936 to 1965", Academy of Management Journal, 39(3), pp.519~543 (1996)
  41. Miller, D., "The Evolution of Strategic Simplicity: Exploring two Models of Organizational Adoption", Journal of Management, 22, pp.863~887 (1996)
  42. Mowery, D.C., "Strategic Alliances and Inter-firm Knowledge Transfer", Strategic Management Journal, 17, pp.77~91 (1996)
  43. Mowery, D.C., "Technological Overlap and Inter-firm Cooperation: Implications for the Resource-based View of the Firm", Research Policy, 27, pp.507~523 (1998)
  44. Myers,R.H, "Classical and Modern Regression with Applications" (1990), Thomson Learning
  45. Nohria, N, "Is Slack Good or Bad for Innovation, Academy of Management Journal, 39, 1245-1246 Palmer, T. and Wiseman, R (1999), Decoupling Risk Taking from Income Stream Uncertainty: A Holistic Model of Risk", Strategic Management Journal, 20, pp.1037~1062 (1999)
  46. Patel, P, "Large Firms in the Production of the World's Technology: An Important Case of Non-globalization", Journal of International Business Studies, 22, pp.1~21 (1991)
  47. Penner-Hahn, J, "Does International Research and Development Increase Patent Otput", Strategic Management Journal, 26(2), pp.121~140 (2004)
  48. Rhee, J.H, "Foreign Market Uncertainly and Incremental International Expansion: The Moderating Effect of Firm, Industry, and Host Country Factors", Management International Review, 42, pp.419~439 (2002)
  49. Riahi-Belkaoui,A, "The Effects of the Degree of Internationalization on Firm Performance", International Business Review, 7(3), pp.315~321 (1998)
  50. Sharfman, M., "Antecedents of Organizational Slack", Academy of Management Review, 13, pp.601~614 (1988)
  51. Singh,J, "Performance, Slack, and Risk Taking in Organizational Decision Making", Academy of Management Journal, 29, pp.562~585 (1986)
  52. Smith, K.G., "Organizational Information Processing, Competitive Responses, and Performance in the U.S. Domestic Airline Industry", Academy of Management Journal, 34, pp.60~85 (1991)
  53. Tan, J, "Organizational Slack and Firm Performance during Economic Transitions; Two Studies from an Emerging Economy", Strategic Management Journal, 24, pp.1249~1263 (2003)
  54. Teece, D.J., "Dynamic Capabilities and Strategic Management", Strategic Management Journal, 18(7), pp.509~533 (1997)
  55. Tseng, C.H., "Effects of Firm Resources on Growth in Multinationality", Journal of International Business Studies, 38, pp.961~974 (2007)
  56. Utterback,J.M, "Mastering the Dynamics of Innovation" (1994), Harvard Business School Press
  57. Voss, G.B., "The Effects of Slack Resources and Environmental Threat on Product Exploration and Exploitation", Academy of Management Journal, 51(1), pp.147~164 (2008)
  58. Weinzimmer, L.G., "Measuring Organizational Growth: Issues, Consequences and Guidelines", Journal of Management, 37(6), pp.235~263 (1998)
  59. Wiseman, R, "Towards a Model of Risk in Declining Organizations: An Empirical Examination of Risk, Performance and Decline", Organization Science, 7, pp.524~543 (1996)
  60. Wright, P., "Strategic Orientations, Cmpetitive Advantage, and Business Performance", Journal Business Research, 33, pp.143~151 (1995)

관련 논문AI추천

기업의 잉여자원(Slack)이 연구개발 성과에 미치는 영향: 기업의 기술·사업화 역량을 매개로김신영, 손성민, 조부연한국생산관리학회 · 한국생산관리학회지2024 · 제35권 제1호중소기업의 조직여유가 혁신에 미치는 영향 : 기업명성의 조절효과김충현, 배호영, 이재훈한국중소기업학회 · 중소기업연구2014 · 제36권 제2호조직여유가 기업명성에 미치는 영향－기술혁신의 매개효과를 중심으로－배호영, 이재훈, 이종완한국산업경영학회 · 경영연구2015 · 제30권 제2호The Nonlinear Impact of Slack Resources on Subsidiary Performance in China ― Focus on Available, Recoverable, and Potential Slack Resources김병구, 이춘수대한중국학회 · 중국학2015 · 제50호성과 피드백에 따른 문제해결적 탐색: 거버넌스와 여유자원의 조절효과박경민, 백승훈한국기업경영학회 · 기업경영연구2025 · 제32권 제5호The Effects of Organizational Slack on Technological Innovation: Moderating Effect of Environmental Uncertainty배호영산업개발연구소 · 산업혁신연구2015 · 제31권 제2호

이 간행물의 다른 논문 (9건)

한국 바이오산업의 국가혁신체계와 경쟁력 증진방안이수희, 정진섭, 김은영, 김희선pp. 25-63전문경영인 등 투자가들의 주식거래와 경기변동의 상관성 분석김종권, 김병준pp. 65-91멀티샵 경영자의 사업성과 결정 요인 분석황상모pp. 93-115시니어 벤처기업의 경영특성에 관한 연구최다운, 이상명, 이병희pp. 117-136경영자의 관점에서 바라본 사회책임경영이 조직만족도에 미치는 영향신철호, 김재은pp. 137-162
원문 보기