탐색적/활용적 제휴와 인수의 상호작용: 신제품 출시에 미치는 영향
The Interaction of Exploratory and Exploitative Alliances with Acquisitions: Its Impact on New Product Launches
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초록
오늘날의 경쟁적인 환경에서, 지속적 신제품 출시는 기업의 성과를 결정하는 중요 요소가 되고 있다. 기업의 내적 특징 또는 내부 자원의 활용을 넘어 서서 기업간 제휴 및 인수가 신제품 개발에 필요한 외부 자원을 획득하기 위한 중요한 수단이 되고 있다. 본 연구에서는 기업의 탐색적, 활용적 제휴가 혁신적, 점진적 신제품 출시에 미치는 영향을 분석하고, 나아가, 제휴와 인수간의 상호작용에 대한 이해를 높이고자 한다. 본 연구에서는 바이오 및 제약 산업을 대상으로 다양한 2차 자료를 활용하여, 제시된 가설들을 검증하였다. 신제품 개발과정에서 제휴를 맺는 단계를 기준으로 탐색적, 활용적 제휴를 구분하였으며, 신제품 성과는 FDA승인을 받은 각 타입의 신약 건수를 바탕으로 측정하였다. 본 연구에서는 패널 포아송 회귀 분석 방법을 적용하여 자료를 분석하였다. 제휴는 기업의 신제품 출시 성과에 중요한 역할을 하며 이는 제휴와 인수의 상호작용에 의해 영향을 받음을 보여준다. 먼저, 탐색적 제휴는 기업의 혁신적 신제품 출시 성과에 긍정적인 영향을 미친다. 반면, 점진적 신제품 출시의 경우 활용적 제휴가 직접적인 영향력을 미치지 못하나, 인수와의 긍정적 상호작용을 통해 점진적 신제품 출시성과가 높아질 수 있다는 것을 보여준다. 본 연구는 신제품 개발과정을 기준으로 한 탐색적, 활용적 제휴 및 인수가 신제품 출시에 미치는 영향을 보여준다. 특히, 혁신적 신제품과 점진적 신제품을 구분함으로써, 이들에 대한 탐색적, 활용적 제휴의 차별적 효과를 명확히 하였다. 또한, 제휴와 인수간의 상호작용이 신제품 개발 성과에 미치는 영향을 보여줌으로써, 신제품 개발 및 출시에 대한 이론적, 실무적 시사점을 제시하고 있다. 연구는 제약 산업에 초점을 맞추었으나 다른 산업 군에서도 위의 관계가 성립하는가에 대한 후속 연구가 필요하다. 또한, 제휴와 인수의 상호작용에 대한 본 연구의 결과를 바탕으로, 제휴와 인수의 다양한 특성(ex, 기술 및 시장의 상대적 특성 등)을 포함하여 모형을 추후 연구를 통해 분석할 필요가 있다. 본 연구는 신제품을 혁신적/ 점진적 신제품으로 구분하고, 탐색적/활용적 제휴와 인수의 상호작용이 신제품 출시에 미치는 영향을 분석함으로써 기존 연구에 기여한다.
Abstract
Beyond internal resources and capabilities, firms are actively engaged in alliances and acquisitions to gain external resources and capabilities. In this study, we examine how a firm’s exploratory and exploitative alliances affect the launches of radical and incremental new products. We further examine how alliances and acquisition interact to affect new product launches. We collected data from biotech and pharmaceutical industries to test proposed hypotheses. We distinguished between exploratory and exploitative alliances based on the stage in the new product development process. To distinguish between radical and incremental new products, we relied on the drug approval data from FDA. This study shows that exploratory alliances promote radical new product launches. In contrast, for incremental new product launches, exploitative alliances have no significant effect, but interact with acquisitions to promote incremental new product launches. This study differentiates the effects of exploratory and exploitative alliances on radical and radical and incremental new product launches. Further, this study offers important insights by testing the interactions between alliances and acquisitions to affect new product launches. While this study focused on biotech and pharmaceutical industries, future research needs to expand to more diverse empirical contexts. Based on our results for the interactions between alliances and acquisition, further research needs to examine more , such as the relative technological or market characteristics of partners. This study contributes to prior research by testing how exploratory/ exploitative alliances interact with acquisitions to affect radical and incremental new product launches.
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