Does in-bound FDI Increase Firm Innovation? An Organizational Learning Perspective

외국인 직접투자(In-bound FDI)가 국내 기업 혁신에 미치는 영향: 조직 학습 관점의 매개효과를 기반으로

  • Received : 2016.01.14
  • Accepted : 2016.05.29
  • Published : 2016.08.31

Abstract

FDI has been considered as a source of competitive advantage by bringing scientific and technological innovation capabilities to domestic firms via organizational learning. Acquiring knowledge and technology by learning accelerates firms to be innovative. In the way of innovation, firms seek for innovation as a whole but innovation can be clarified as two different parts, product and process innovation. Different from product and process innovation, organizational innovation is not directly related to productivity or outcome but it is closely related to product and process innovations. As a kind of firm innovation, organizational innovation may be considered as preceding product and process innovation and it may positively mediate the relationship between in-bound FDI and firms' product and process innovations. In this paper, the relationship between FDI and product and process innovation will be explained by organizational learning and the way of organizational innovation affects to the relationship will be examined.

본 연구는 FDI 비율과 국내 기업의 혁신에 미치는 영향을 조직 학습 관점을 기반으로 실증 분석하였다. FDI 비율과 혁신에 대한 기존의 연구는 기업 혁신에 대한 분류가 모호하였기 때문에 상반된 연구결과들이 존재하였다. 이에 본 연구에서는 제품 혁신과 공정 혁신으로 나누어서 FDI 비율과 혁신간의 관계를 살펴봄으로써 이들 관계에 대한 이해를 보다 깊이 하고자 하였다. 따라서 본 연구는 FDI 비율이 국내 기업의 제품 공정 혁신에 긍정적인 영향을 미칠 것으로 보고, 이들의 관계를 조직 혁신이 어떻게 매개하는 지를 밝히고자 하였다. 이를 위하여, STEPI에서 제공하고 있는 2010년 2012년 제조업 분야의 기업 데이터와 산업자원통상부의 FDI 데이터, 그리고 NICE 신용평가원(Kis Value)의 기업재무자료를 결합하여 실증 분석을 실시하였다. 분석 결과 FDI 비율은 국내 기업의 제품 혁신에 긍정적인 영향을 미치고 있는 것으로 나타났다. 또한 FDI 비율과 제품 혁신 간의 관계에 대하여 조직 혁신이 매개 효과를 가지는 것을 확인할 수 있었다.

Keywords

References

  1. Bantel, K. A. & Jackson, S. E.(1989), Top Management and Innovations in Banking: Does the Composition of the Top Team Make a Difference? Strategic Management Journal, 10(S1), 107-124. https://doi.org/10.1002/smj.4250100709
  2. Barney, J.(1991), Firm Resources and Sustained Competitive Advantage, Journal of Management, 17(1), 99-120. https://doi.org/10.1177/014920639101700108
  3. Baron, Reuben M., & David A. K.(1986), The moderator-mediator variable distinction in social psychological research: Conceptual, strategic, and statistical considerations, Journal of Personality and Social Psychology, 51(6), 1173. https://doi.org/10.1037/0022-3514.51.6.1173
  4. Bertschek, I.(1995), Product and process innovation as a response to increasing imports and foreign direct investment, The Journal of Industrial Economics,43(4) 341-357. https://doi.org/10.2307/2950548
  5. Bidwell, M.(2011), Paying More to Get Less: The Effects of External Hiring versus Internal Mobility, Administrative Science Quarterly, 56(3), 369-407. https://doi.org/10.1177/0001839211433562
  6. Blӧmstrom, M.. & Persson, M.(1983), Foreign direct investment and spillover efficiency in an underdeveloped economy, Evidence from the Mexican manufacturing industry. World Development, 11(6), 493-501. https://doi.org/10.1016/0305-750X(83)90016-5
  7. Blomstrom, M.. & Sjholm, F.(1999), Technology transfer and spillovers: does local participation with multinationals matter?. European Economic Review, 43(4), 915-923. https://doi.org/10.1016/S0014-2921(98)00104-4
  8. Camison, C. & Villar-Lopez, A.(2014), Organizational Innovation as an Enabler of Technological Innovation Capabilities and Firm Performance. Journal of Business Research, 67(1), 2891-2902. https://doi.org/10.1016/j.jbusres.2012.06.004
  9. Carey, S., Lawson, B. & Krause, D. R.(2011), Social Capital Configuration, Legal Bonds and Performance in Buyer-Supplier Relationships. Journal of Operations Management, 29(4), 277-288. https://doi.org/10.1016/j.jom.2010.08.003
  10. Chandy, R. K. & Tellis, G. J.(1998), Organizing for Radical Product Innovation: The Overlooked Role of Willingness to Cannibalize. Journal of Marketing Research, 35(4), 474-487. https://doi.org/10.2307/3152166
  11. Cheung, K. Y. & Ping, L.(2004), Spillover effects of FDI on innovation in China: Evidence from the provincial data. China Economic Review, 15(1), 25-44. https://doi.org/10.1016/S1043-951X(03)00027-0
  12. Cohen, W. M. & Levinthal, D. A.(1990), Absorptive Capacity: A New Perspective on Learning and Innovation. Administrative Science Quarterly, 35(1), 128-152. https://doi.org/10.2307/2393553
  13. Caves, R. E.(1971), International Corporations: The Industrial Economics of Foreign Investment. Economica, 38(141), 1-27. https://doi.org/10.2307/2551748
  14. Caves, R. E.(1974), Multinational firms, competition, and productivity in host-country markets. Economica, 176-193.
  15. Damanpour, F.(2010), An Integration of Research Findings of Effects of Firm Size and Market Competition on Product and Process Innovations. British Journal of Management, 21(4), 996-1010. https://doi.org/10.1111/j.1467-8551.2009.00628.x
  16. David, P., Kochhar, R. & Levitas, E.(1998), The effect of institutional investors on the level and mix of CEO compensation. Academy of Management Journal, 41(2), 200-208. https://doi.org/10.2307/257102
  17. David, P., Hitt. M. A. & Gimeno, J.(2001), The influence of activism by institutiona investors o R&D. Academy of Management Journal, 44(1), 144-157.
  18. Davis, G. F. & Thompson, T. A.(1994), A Social Movement Perspective on Corporate Control. Administrative Science Quarterly, 39(1), 141-173. https://doi.org/10.2307/2393497
  19. Dunning, J. H.(1994), Multinational Enterprises and the Globalization of Innovative Capacity. Research Policy, 23(1), 67-88. https://doi.org/10.1016/0048-7333(94)90027-2
  20. Guthrie, J. P.(2001), High-involvement work practices, turnover, and productivity: Evidence from New Zealand. Academy of management Journal, 44(1), 180-190.
  21. Haddad, M., & Harrison, A.(1993), Are there positive spillovers from direct foreign investment?: Evidence from panel data for Morocco. Journal of Development Economics, 42(1), 51-74. https://doi.org/10.1016/0304-3878(93)90072-U
  22. Kinoshita, Y.(2000), R&D and technology spillovers via FDI, Innovation and absorptive capacity.
  23. Knight, K. E.(1967), A descriptive model of the intra-firm innovation process. Journal of Business 40(4), 478-496. https://doi.org/10.1086/295013
  24. Kotter, J. P.(1996), Leading Change. Harvard Business Press.
  25. Lin, P., Liu, J. & Zhang, Y.(2009), Do Chinese Domestic Firms Benefit from FDI Inflow?: Evidence of Horizontal and Vertical Spillovers. China Economic Review, 20(4), 677-691. https://doi.org/10.1016/j.chieco.2009.05.010
  26. Liu, X. & Zou, H.(2008), The impact of greenfield FDI and mergers and acquisitions on innovation in Chinese high-tech industries. Journal of World Business, 43(3), 352-364. https://doi.org/10.1016/j.jwb.2007.11.004
  27. Marcin, K.(2008), How does FDI inflow affect productivity of domestic firms? The role of horizontal and vertical spillovers, absorptive capacity and competition. The Journal of International Trade & Economic Development, 17(1), 155-173. https://doi.org/10.1080/09638190701728131
  28. Mello, Jr. L. R. D.(1997), Foreign Direct Investment in Developing Countries and Growth: A Selective Survey. The Journal of Development Studies, 34(1), 1-34.
  29. Mowery, D. C. & Oxley, J. E.(1995), Inward Technology Transfer and Competitiveness: The Role of National Innovation Systems. Cambridge Journal of Economics, 19(1), 67-93.
  30. OECD(2005), Oslo Manual 3rd Edition, Paris: OECD.
  31. OECD(2005), The Measurement of Scientific and Technological Activities Oslo Manual. Guidelines for Collecting and Interpreting Innovation Data (3rd ed.). Paris: OECD EUROSTAT.
  32. OECD(2013), Government at a Glance 2013. Paris: OECD Publishing.
  33. Porter, M. E.(1985), Competitive Advantage. New York: Free Press.
  34. Porter, M. E.(1996), What is Strategy?. Harvard Business Review.
  35. Qian, G., Li, L. & Rugman, A. M.(2013), Liability of country foreignness and liability of regional foreignness: Their effects on geographic diversification and firm performance. Journal of International Business Studies, 44(6), 635-647. https://doi.org/10.1057/jibs.2013.21
  36. Schumpeter, J. A.(1939), Business Cycles: A Theoretical, Historical and Statistical Analysis of the Capitalist Process. Martino Publishing.
  37. Shan, W. & Song, J.(1997), Foreign Direct Investment and the Sourcing of Technological Advantage: Evidence from the Biotechnology Industry. Journal of International Business Studies, 28(2), 267-284. https://doi.org/10.1057/palgrave.jibs.8490101
  38. Sinani, E. & Meyer, K. E.(2004), Spillovers of technology transfer from FDI: the case of Estonia. Journal of comparative economics, 32(3), 445-466. https://doi.org/10.1016/j.jce.2004.03.002
  39. Solow, R. M.(1956), A Contribution to the Theory of Economic Growth. The Quarterly Journal of Economics, 70(1), 65-94. https://doi.org/10.2307/1884513
  40. Wen-guang, B. O.(2007), Externalities and Industrial Economic Growth-Evidences from Chinese Provincial Panel Data. China Industrial Economy, 1(1), 37-44.
  41. Wignaraja, G.(2008), Foreign ownership, technological capabilities and clothing exports in Sri Lanka. Journal of Asian Economics, 19(1), 29-39. https://doi.org/10.1016/j.asieco.2007.12.001
  42. Winter, S. G.(2000), The Satisficing Principle in Capability Learning. Strategic Management Journal, Special Issue 21(10-11), 981-996. https://doi.org/10.1002/1097-0266(200010/11)21:10/11<981::AID-SMJ125>3.0.CO;2-4
  43. Zahra, S. A. & George, G.(2002), Absorptive Capacity: A Review, Reconceptualization, and Extension. Academy of Management Review, 27(2), 185-203. https://doi.org/10.5465/amr.2002.6587995
  44. 강원진.이병헌.오왕근(2012), 국내 벤처기업의 성장단계별 외부자원 활용이 기술혁신 성과에 미치는 영향. 벤처창업연구, 7(1), 35-45.
  45. 권미영.정해주(2012), 기업가, 기술 및 네트워크 특성이 기술창업기업의 성과에 미치는 영향. 벤처창업연구, 7(1), 7-18.
  46. 성태경(2004), 우리나라 기업의 기술혁신활동 결정요인: 지역 간차이를 중심으로. 한국경제연구학회. 13(4), 21-53.
  47. 이병기(2002), 외국인 직접투자의 생산성 파급효과 분석, 한국경제연구원.
  48. 연태훈(2003), 외국인직접투자의 산업 간 생산성 파급효과에 관한 연구, 한국연구개발원.
  49. 정세은.김봉한.2009),. 외국인 직접투자의 생산성, 투자, 고용 효과. 한국경제의 분석, 15(2), 105-160.
  50. 최석준.서영웅(2010), 국내기업과 외국인직접투자(FDI)기업의 경영및 기술혁신 성과 비교. 기술혁신학회지. 13(3),446-458.
  51. 최승학.허정(2011), 외국인 소유 지분율이 한국 제조기업의 생산성에 미치는 효과. 응용경제. 13(3), 187-219.
  52. STEPI.(2012), 2012년도 한국의 기술혁신조사: 제조업 부문. 과학기술정책연구원.