기업의 정치적 연계와 성과 간의 관계에서 경쟁 활동의 매개역할
Political Ties and Firm Performance:The Mediating Role of Competitive Action
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초록
정치적 연계가 기업성과에 중요한 영향을 미친다는 이론적인 논쟁에도 불구하고, 선행연구에서는 왜 그리고 어떻게 정치적 연계가 기업성과를 이끌어내는지에 관한 논의는 부족하였다. 이에 본 연구는 정치적 연계와 기업성과 간의 직접적인 관계를 넘어 매개 메커니즘을 밝히는 것을 목표로 연구를 진행하였다. 연구를 위해 경쟁 활동을 매개변수로 채택하여 가설을 구성하였으며, 1998년부터 2017년까지 국내 코스피 시장에 상장된 제조업 570개 기업을 대상으로 가설 검증을 실시하였다. 분석결과 경쟁 활동은 정치적 연계와 기업 성과 간의 관계에 있어서 중요한 매개 역할을 하며, 정치적 연계가 강한 기업은 경쟁 활동을 촉진시켜 결과적으로 더 나은 성과를 낼 수 있음을 발견하였다. 이 같은 연구결과는 정치적 연계와 기업성과 간의 관계를 보다 명확하게 설명할 수 있는 이론적 시사점과 더불어 실무적 시사점을 제공하고 있다.
Abstract
Although the literature notes that political ties affects firm performance, the empirical evidence is inconclusive and the underlying mechanism linking political ties to firm performance remains ambiguous. To address these issues, this study aims to examine the mediating mechanism in the relationship between political ties and firm performance. We argue and find in a study of 570 listed Korean firms from 1998 to 2017 that political ties positively relates to competitive action frequency and also competitive action frequency plays an important mediating mechanism in the relationship between political ties and firm performance. The important theoretical and practical implications of these findings are discussed.
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