DOI QR코드

DOI QR Code

The Effects of Technological and International Marketing Capability of SMEs in Gwangju·Jeonnam Province on Export Performance: Focusing on the Moderating Role of CEO's Risk-taking Propensity

광주·전남지역 중소기업의 기술역량과 국제마케팅역량이 수출성과에 미치는 영향: CEO 위험감수성의 조절효과를 중심으로

  • Young-Soo Yang (International Affair Office, Yonsei University) ;
  • Jae-Eun Lee (Division of Business and Commerce, Sunchon National University)
  • Received : 2020.10.06
  • Accepted : 2020.10.29
  • Published : 2020.10.31

Abstract

The purpose of this study is to analyze whether SMEs' technological capabilities and international marketing capabilities affect the export performance of the SMEs and to empirically test the moderating effect of the CEO's risk propensity on such a relationship. We obtained data from 190 SMEs located in Gwangju and Jeonnam Province in Korea through survey and performed a regression analysis for hypothesis testing based on these data. As a result of the analysis, it was found that SMEs' technological capabilities and international marketing capabilities had a significantly positive (+) effect on export performance, respectively. Also, the CEO's risk propensity was found to reinforce the relationship between technical competence and export performance, and the relationship between marketing capabilities and export performance was also found to be strengthened in the positive (+) direction. These results suggest that it is necessary for SMEs to continuously develop technological capabilities and international marketing capabilities to achieve successful export performance in overseas markets. Also, the CEO's propensity to promote these relationships may be important.

Keywords

References

  1. Acedo, F. J. and J. L. Galan (2011), "Export Stimuli Revisited: The Influence of the Characteristics of Managerial Decision Makers on International Behaviour", International Small Business Journal, 29(6), 648-670. https://doi.org/10.1177/0266242610375771
  2. Acikdilli, G., A. Mintu-Wimsatt, A. Kara and J. E. Spillan (2020), "Export Market Orientation, Marketing Capabilities and Export Performance of SMEs in an Emerging Market: A Resource-based Approach", Journal of Marketing Theory and Practice, 1-16.
  3. Aiken, L. S. and S. G. West (1991), Multiple Regression: Testing and Interpreting Interaction, Thousand Oaks, CA: Sage Publications.
  4. Autry, C. W., S. J. Grawe, P. J. Daugherty and R. G. Richey (2010), "The Effects of Technological Turbulence and Breadth on Supply Chain Technological Acceptance and Adoption", Journal of Operations Management, 28(6), 522-536.
  5. Bank of Korea (2018), Export Status and Implications for Gwangju Jeonnam Region (Webpage). Available from https://www.bok.or.kr/portal/bbs/P0000800/view.do?nttId=10046279&menuNo=200560&pageIndex=9
  6. Barney, J. B. (1996), "The Resource-based Theory of the Firm", Organization Science, 7(5), 469-469. https://doi.org/10.1287/orsc.7.5.469
  7. Bateman, T. S. and J. M. Crant (1993), "The Proactive Component of Organizational Behavior: A Measure and Correlate", Journal of Organizational Behavior, 14(2), 103-118. https://doi.org/10.1002/job.4030140202
  8. Blesa, A. and M. Ripolles (2008), "The Influence of Marketing Capabilities on Economic International Performance", International Marketing Review, 25(6), 651-673. https://doi.org/10.1108/02651330810915574
  9. Chetty, S. and D. H. Blankenburg (2000), "Internationalisation of Small to Medium-sized Manufacturing Firms: A Network Approach", International Business Review, 9(1), 77-93. https://doi.org/10.1016/S0969-5931(99)00030-X
  10. Cho, Yeon-Sung (2012), "In Relation to Entrepreneurship and Export Performance of Small and Medium Manufacturing Firm, the Mediating Effect of Product Differentiation Capabilities", International Commerce and Information Review, 14(3), 113-138.
  11. Cho, Yeon-Sung and Keun-Ho Park (2010), "Impact of Entrepreneurship and Resource Capability on International New Venture Performance", International Business Review, 14(4): 119-143.
  12. Chon, Seung-Hyun (2019, June 26), "Gwangju Jeonnam SME Export Experience 0.7%... National Average 2.5%", Yunhapnews.
  13. Chun, Jai-Il and Hyung-Rok Yim (2015), "A Study on the Effect of Firm-specific Resources, Strategic Orientation, and Dynamic Capabilities on the Export Performance of Korean Exporting SMEs", Korea Trade Review, 40(5), 285-313.
  14. Cui, A. S., D. A. Griffith and S. T. Cavusgil (2005), "The Influence of Competitive Intensity and Market Dynamism on Knowledge Management Capabilities of Multinational Corporation Subsidiaries", Journal of International Marketing, 13(3), 32-53. https://doi.org/10.1509/jimk.13.3.32
  15. Day, G. S. (1994), "The Capabilities of Market-driven Organizations", Journal of Marketing, 58(4), 37-52. https://doi.org/10.1177/002224299405800404
  16. Fernandez-Mesa, A. and J. Alegre (2015), "Entrepreneurial Orientation and Export Intensity: Examining the Interplay of Organizational Learning and Innovation", International Business Review, 24(1), 148-156. https://doi.org/10.1016/j.ibusrev.2014.07.004
  17. Francioni, B., A. Pagano and D. Castellani (2016), "Drivers of SMEs' Exporting Activity: A Review and a Research Agenda", Multinational Business Review, 24(3), 194-215. https://doi.org/10.1108/MBR-06-2016-0023
  18. Grant, R. M. (1991), "The Resource-based Theory of Competitive Advantage: Implications for Strategy Formulation", California Management Review, 33(3). 114-135. https://doi.org/10.2307/41166664
  19. Gnizy, I. (2019), "The Role of Inter-firm Dispersion of International Marketing Capabilities in Marketing Strategy and Business Outcomes", Journal of Business Research, 105, 214-226. https://doi.org/10.1016/j.jbusres.2019.08.015
  20. Han, Choong-Min (2006), "What Factors Determine Marketing Performances of Korean Exporters?: A Resource-based View", International Area Studies Review, 10(1), 566-586.
  21. Jin, B. and H. J. Cho (2018), "Examining the Role of International Entrepreneurial Orientation, Domestic Market Competition, and Technological and Marketing Capabilities on SME's Export Performance", Journal of Business and Industrial Marketing, 33(5), 585-598. https://doi.org/10.1108/JBIM-02-2017-0043
  22. Kale, P., J. H. Dyer and H. Singh (2002), "Alliance Capability, Stock Market Response, and Long Term Alliance Success: The Role of the Alliance Function", Strategic Management Journal, 23(8), 747-767. https://doi.org/10.1002/smj.248
  23. Kang, Ji-Won, Ga-Rog Han and Jae-Eun Lee (2018), "The Effect of Strategic Orientation of SMEs Located in Gwangju and Jeonnam Provinces on the Level of Internationalization", International Commerce and Information Review, 20(4), 161-186.
  24. Kang Nak-Jung and Eun-Ju Song (2003), "Study a Thesis: An Empirical Study on Market Orientation, Marketing Competence, and Performance in Korean Export Manufacturing Firms", Journal of International Trade Studies, 9(2), 233-254.
  25. Kim, Joo-Heon (2006), "Export Marketing Strategies and Performance of Korean Ventures: An Empirical Investigation", International Business Review, 10(1), 1-21.
  26. Kim, Yong-Gyu (2008), "An Empirical Study on the Determinants of Export Performance in Korean Firms: Focused on Meta Analysis", International Business Review, 12(2), 55-75. https://doi.org/10.21739/IBR.2008.06.12.2.55
  27. Knight, G. A. and S. T. Cavusgil (2004), "Innovation, Organizational Capabilities, and the Born-global Firm", Journal of International Business Studies, 35(2), 124-141. https://doi.org/10.1057/palgrave.jibs.8400071
  28. Lee, Byoung-Ho (2009), "The Impact of Firm's Innovation Capability and Export Marketing Capability on Export Performance", International Business Review, 13(3), 29-46. https://doi.org/10.21739/IBR.2009.09.13.3.29
  29. Lee, C., L. Lee, and J. M. Pennings (2001), "Internal Capabilities, External Networks, and Performance: A Study on Technology-based Ventures", Strategic Management Journal, 22(6-7), 615-640.
  30. Lee, Hee-Yong, Jung-Hyun Yoon and Taek-Dong Yeo (2011), "The Impacts of Internationalization Determinants of Exporting SMEs in Daegu & Gyeongbuk on Internationalization Performance", International Commerce and Information Review, 13(4), 435-462.
  31. Lee, Jae-Eun, Ji-Won Kang, Seo-Hyung Choi and Soon-Kyoo Choe (2017), "The Effects of Technological Capability and Domestic Marketing Capability on Export Market Orientation, and Moderating Effect of Market Turbulence: Evidence from SMEs in Gwangju and Jeonnam Province", Korea Trade Review, 42(2), 21-47.
  32. Lee, Young-Joo (2020), "A Study on the Relationship between SME Export Performance Determinants and SME Export Support System", International Business Review, 24(2), 119-128. https://doi.org/10.21739/IBR.2020.06.24.2.119
  33. Lee, Yu-Lim, Jae-Eun Chung and So-Won Jeong (2017), "The Influences of SMEs Market Orientation and Brand Orientation on Firm Capabilities and Performance in Export Markets", Korea Trade Review, 42(2), 175-203.
  34. McDougall, P. P. and B. M. Oviatt (2000), "International Entrepreneurship: The Intersection of Two Research Paths", Academy of Management Journal, 43(5), 902-906. https://doi.org/10.2307/1556418
  35. Morgan, N. A., H. Feng and K. A. Whitler (2018), "Marketing Capabilities in International Marketing", Journal of International Marketing, 26(1), 61-95. https://doi.org/10.1509/jim.17.0056
  36. Morgan, N. A., C. S. Katsikeas and D. W. Vorhies (2012), "Export Marketing Strategy Implementation, Export Marketing Capabilities, and Export Venture Performance", Journal of Academy of Marketing Science, 40(2), 271-289. https://doi.org/10.1007/s11747-011-0275-0
  37. Murray, J. Y., G. Y. Gao and M. Kotabe (2011), "Market Orientation and Performance of Export Ventures: The Process through Marketing Capabilities and Competitive Advantages", Journal of the Academy of Marketing Science, 39(2), 252-269. https://doi.org/10.1007/s11747-010-0195-4
  38. Park, Sang-Chul and Kyu-O Kim (2014), "Globalization Strategies for Small and Medium Enterprises Located in Gwangju and Jeonnam Region", International Business Review, 18(3), 75-97. https://doi.org/10.21739/IBR.2014.09.18.3.75
  39. Piao, Xuelian, Jae-Eun Lee, Jung-Min Park, Ji-Won Kang and Cho-Hee Jeong (2017), "Does Strategic Orientation of SMEs Affect Their Export Performance? Evidence from Gwangju and Jeonnam Provinces in South Korea", Journal of International Trade and Commerce, 13(3), 359-377.
  40. Pyper, K., A. M. Doherty, S. Gounaris and A. Wilson (2019), "Investigating International Strategic Brand Management and Export Performance Outcomes in the B2B Context", International Marketing Review, 37(1), 98-129.
  41. Rhee, Jae-Hoon and Hyun-Joo Yang (2011), "Relationships Among International Entrepreneurship, Core Competence, and Internationalization", Korean Journal of Business Administration, 24(6), 3247-3271.
  42. Sitkin, S. B. and A. L. Pablo (1992), "Reconceptualizing the Determinants of Risk Behavior", Academy of Marketing Review, 17(1), 9-38.
  43. Stouraitis, V., P. Boonchoo, M. H. M. Harun and M. Kyritsis (2017), "Entrepreneurial Perceptions and Bias of SME Exporting Opportunities for Manufacturing Exporters: A UK Study", Journal of Small Business and Enterprise Development, 24(4), 906-927. https://doi.org/10.1108/JSBED-03-2017-0095
  44. Tan, Q., and C. M. Sousa (2015), "Leveraging Marketing Capabilities into Competitive Advantage and Export Performance", International Marketing Review, 32(1), 78-102. https://doi.org/10.1108/IMR-12-2013-0279
  45. Wernerfelt, B. (1984), "A Resource-based View of the Firm", Strategic Management Journal, 5(2), 171-180. https://doi.org/10.1002/smj.4250050207
  46. Yang, Hee-Soon and Min-Ji Jung (2015), "The Effects of International Entrepreneurial Proclivity of SMEs on Corporate Capability and Export Performance: Focused on Consumer Goods and Industrial Goods", Asia-Pacific Journal of Business Venturing and Entrepreneurship, 10(2), 121-134. https://doi.org/10.16972/APJBVE.10.2.201504.121
  47. Yang, Hee-Soon, Byoung-Ho Jin, Jong-Hyeon Won (2015), "The Study on Moderating Effects of Market Competitive Intensity between Internal Capabilities of Consumer-Goods SMEs and Export Performance", Korea Business Review, 19(3), 173-195. https://doi.org/10.17287/kbr.2015.19.3.173
  48. Yiu, D. W., C-M, Lau, and G. D. Bruton (2007), "International Venturing by Emerging Economy Firms: The Effect of Firm Capabilities, Home Country Networks, and Corporate Entrepreneurship", Journal of International Business Studies, 38(4), 519-540. https://doi.org/10.1057/palgrave.jibs.8400278
  49. Zaheer, S. (1995), "Overcoming the Liability of Foreignness", Academy of Management Journal, 38(2), 341-363. https://doi.org/10.2307/256683
  50. Zhou, L. (2007), "The Effects of Entrepreneurial Proclivity and Foreign Market Knowledge on Early Internationalization", Journal of World Business, 42(3), 281-293. https://doi.org/10.1016/j.jwb.2007.04.009
  51. Zou, S., E. Fang and S. Zhao (2003), "The Effect of Export Marketing Capabilities on Export Performance: An Investigation of Chinese Exporters", Journal of International Marketing, 11(4), 32-55. https://doi.org/10.1509/jimk.11.4.32.20145