기업의 열망수준과 연구개발투자 지속성
The impact of aspiration level on R&D investment persistence
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초록
본 연구는 2000년부터 2016년까지 KOSDAQ에 상장된 제조기업들을 대상으로 연구개발투자 지속성에 미치는 영향을 분석한다. 구체적으로 본 연구에서는 기업행동이론(the behavioral theory of the firm)을 기반 으로 기업의 성과에 대한 열망수준이 연구개발투자 지속성에 미치는 영향을 분석하였으며, 하이테크 산업 이 이러한 관계에 어떻게 영향을 미치는지 분석하였다. 실증 분석 결과, 기업의 긍정적인 성과 피드백은 연구개발투자 지속성에 정(+)의 영향을 미치며, 기업의 열망수준이 연구개발투자 지속성에 미치는 영향은 하이테크 산업에 속한 기업일수록 강화되는 것으로 나타났다. 본 연구는 기존에 간과되었던 연구개발투자 지속성에 영향을 미치는 요인을 기업행동이론으로 새롭게 규명하고, 실증적으로 분석했다는데 공헌점이 있다. 또한, 하이테크 산업의 조절효과를 함께 분석함으로써 성과 피드백이 연구개발투자 지속성에 영향을 미칠 수 있는 산업적 맥락을 구분해 냈다는데 의의가 있다.
Abstract
This study investigates the influence of corporate aspiration levels on the persistence of R&D investment, using the sample of manufacturing firms listed on KOSDAQ between 2000 and 2016. Adopting the theoretical framework of the behavioral theory of the firm, this research explores the relationship between performance feedback and R&D investment persistence and examines the moderating role of high-tech industry contexts in shaping this dynamic. Empirical findings reveal that positive performance feedback has the positively impact on the persistence of R&D investment, with this effect being more pronounced in high-tech industries. This study contributes to the academic discourse by offering an empirical analysis of the determinants of R&D investment persistence, grounded in the principles of the behavioral theory of the firm. Furthermore, the analysis of the moderating effect of high-tech industries has enabled the identification of the specific industrial contexts in which performance feedback influences the sustainability of R&D investment.
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