Browse > Article

The Impact of Technological Competitiveness in the ICT Convergence Technology on Corporate Diversification  

Lee, Hyunmin (연세대학교 경영연구소)
Kim, Sun Jae (한국과학기술기획평가원)
Kim, Hong Young (한국과학기술기획평가원)
Publication Information
Journal of Korea Technology Innovation Society / v.21, no.1, 2018 , pp. 385-419 More about this Journal
Abstract
This study suggests an integrated model composed of factors of industrial environments and technology capacity for corporate diversification decision based on industrial organization theory and resource based perspectives. We examine the proposed model using patents and financial data of 272 applicants for 6 years (2010~2015) in the smart factory ICT convergence technology (application and platform field) sectors. The result of analyzing the fixed effect panel model shows that technological competitiveness has a positive effect on corporate diversification. Also, the additional result of analyzing the two-stage least square fixed effect model indicates that the convergence patent ratio increases technological competitiveness. Based on the results, we provide implications for corporate diversification strategies and government R & D policies for commercialization of corporate convergence technology resources and competencies.
Keywords
Smart factory; ICT convergence technology; Technological capability; Patent citation network; Panel model analysis;
Citations & Related Records
연도 인용수 순위
  • Reference
1 Cool, K. O. and Schendel, D. (1987), "Strategic Group Formation and Performance: The Case of the US Pharmaceutical Industry, 1963-1982", Management Science, 33(9): 1102-1124.   DOI
2 Curran, C. and Leker, J. (2011), "Patent Indicators for Monitoring Convergence-Examples from NFF and ICT", Technological Forecasting and Social Change, 78(2): 256-273.   DOI
3 D'Aveni, R. A. and Ravenscraft, D. J. (1994), "Economies of Integration Versus Bureaucracy Costs: Does Vertical Integration Improve Performance?", Academy of management Journal, 37(5): 1167-1206.   DOI
4 De Castro, J. O. and Chrisman, J. J. (1995), "Order of Market Entry, Competitive Strategy, and Financial Performance", Journal of Business Research, 33(2): 165-177.   DOI
5 Deephouse, D. L. (1999), "To be Different, or to be the Same? It's a Question (and Theory) of Strategic Balance", Strategic Management Journal, 20(2): 147-166.   DOI
6 DiMaggio, P. and Powell, W. W. (1983), "The Iron Cage Revisited: Collective Rationality and Institutional Isomorphism in Organizational Fields", American Sociological Review, 48(2): 147-160.   DOI
7 Gambardella, A. and Torrisi, S. (1998), "Does Technological Convergence Imply Convergence in Markets? Evidence from the Electronics Industry", Research Policy, 27(5): 445-463.   DOI
8 Melicher, R. W. and Rush, D. F. (1973), "The Performance of Conglomerate Firms: Recent Risk and Return Experience", The Journal of Finance, 28(2): 381-388.   DOI
9 Nelson, R. R. and Winter, S. G. (1978), "Forces Generating and Limiting Concentration under Schumpeterian Competition", The Bell Journal of Economics, 9(2): 524-548.   DOI
10 Pakes, A. (1985), "On Patents, R&D, and the Stock Market Rate of Return", Journal of Political Economy, 93(2): 390-409.   DOI
11 Palmer, T. B. and Wiseman, R. M. (1999), "Decoupling Risk Taking from Income Stream Uncertainty: A Holistic Model of Risk", Strategic Management Journal, 20(11): 1037-1062.   DOI
12 Palich, L. E., Cardinal, L. B. and Miller, C. C. (2000), "Curvilinearity in the Diversification-Performance Linkage: An Examination of over Three Decades of Research", Strategic Management Journal, 21(2): 155-174.   DOI
13 Porter, T. M. (1996), Trust in Numbers: The Pursuit of Objectivity in Science and Public Life, Princeton University Press.
14 Ramanujam, V. and Varadarajan, P. (1989), "Research on Corporate Diversification: A Synthesis", Strategic Management Journal, 10(6): 523-551.   DOI
15 Geiger, S. W. and Cashen, L. H. (2002), "A Multidimensional Examination of Slack and its Impact on Innovation", Journal of Managerial Issues, 68-84.
16 Ghoshal, S. and Bartlett, C. A. (1988), "Creation, Adoption and Diffusion of Innovations by Subsidiaries of Multinational Corporations", Journal of International Business Studies, 19(3): 365-388.   DOI
17 Graves, S. B. and Waddock, S. A. (1994), "Institutional Owners and Corporate Social Performance", Academy of Management journal, 37(4): 1034-1046.   DOI
18 Porac, J. F., Thomas, H. and Baden‐Fuller, C. (1989), "Competitive Groups as Cognitive Communities: The Case of Scottish Knitwear Manufacturers", Journal of Management Studies, 26(4): 397-416.   DOI
19 Powell, W. W. and Smith-Doerr, L. (1994), "Networks and Economic Life", The Handbook of Economic Sociology, 368-380.
20 Scherer, F. M. and Ross, D. (1990), Economic Performance, Boston: Houghton-Mifflin.
21 Schoenecker, T. and Swanson, L. (2002), "Indicators of Firm Technological Capability: Validity and Performance Implications", IEEE Transactions on Engineering Management, 49(1): 36-44.   DOI
22 Hall, B. H., Jaffe, A. and Trajtenberg, M. (2005), "Market Value and Patent Citations", RAND Journal of economics, 16-38.
23 박경민 (2008), "인터넷포털의 카테고리 다각화 결정변수에 대한 연구", 한국경영과학회지, 33(4): 1-12.
24 박경민 (2009), "카테고리 다각화와 전략적 균형이 인터넷 포털의 성장에 미치는 영향", 경영학연구, 38(1): 193-213.
25 Greve, H. R. (2003), "A Behavioral Theory of R&D Expenditures and Innovations: Evidence from Shipbuilding", Academy of Management Journal, 46(6): 685-702.   DOI
26 Griliches, Z. (1990), Patent Statistics as Economic Indicators: a Survey, National Bureau of Economic Research, 287-343.
27 Hacklin, F., Marxt, C. and Fahrni, F. (2009), "Coevolutionary Cycles of Convergence: An Extrapolation from the ICT Industry", Technological Forecasting and Social Change, 76(6): 723-736.   DOI
28 Wan, W. P. and Hoskisson, R. E. (2003), "Home Country Environments, Corporate Diversification Strategies, and Firm Performance", Academy of Management journal, 46(1): 27-45.   DOI
29 Silverman, B. S. (1999), "Technological Resources and the Direction of Corporate Diversification: Toward an Integration of the Resource-based View and Transaction Cost Economics", Management Science, 45(8): 1109-1124.   DOI
30 Stuart, T. E., Hoang, H. and Hybels, R. C. (1999), "Interorganizational Endorsements and the Performance of Entrepreneurial Ventures", Administrative science quarterly, 44(2): 315-349.   DOI
31 조용래.김의석 (2014), "특허 네트워크와 전략지표 분석을 통한 기업 기술융합 전략 연구", 지식재산연구, 9(4): 191-221.
32 석명섭.조병휘.지일용 (2015), "특허 인용 네트워크 분석을 활용한 기술마케팅의 효과성 제고방안에 관한 연구", 한국산학기술학회 논문지, 16(5): 3210-3219.
33 이병헌.김영근 (2007), "중소기업의 사업영역과 기술혁신역량이 경영성과에 미치는 영향에 관한 실증연구", 한국벤처창업학회 학술대회 논문집, 205-226.
34 정하교.황규승 (2008), "특허정보를 활용한 항공기반산업의 기술경쟁력 분석", 경영과학, 25(2): 111-127.
35 강희종.엄미정.김동명 (2006), "특허분석을 통한 유망융합기술의 예측", 기술혁신연구, 14(3): 93-116.
36 김병조.임주현 (2011), "기업의 여유자원이 국제화 정도에 미치는 영향에 관한 종단적 연구", 국제경영리뷰, 15(4): 1-23.
37 김지은.이성주 (2013), "특허정보를 활용한 산업융합성 평가 방법론", 대한산업공학회지, 39(3): 212-221.   DOI
38 Hamel, G. and Prahalad, C. K. (1993), "Strategy as Stretch and Leverage", Harvard Business Review, 71(2): 75-84.
39 Hambrick, D. C. and D'Aveni, R. A. (1988), "Large Corporate Failures as Downward Spirals", Administrative Science Quarterly, 33(1): 1-23.   DOI
40 Hambrick, D. C., Cho, T. S. and Chen, M. J. (1996), "The Influence of Top Management Team Heterogeneity on Firms' Competitive Moves", Administrative Science Quarterly, 41(4): 659-684.   DOI
41 Harianto, F. and Pennings, J. M. (1994), "Technological Convergence and Scope of Organizational Innovation", Research Policy, 23(3): 293-304.   DOI
42 Haunschild, P. R. and Miner, A. S. (1997), "Modes of Interorganizational Imitation: The Effects of Outcome Salience and Uncertainty", Administrative Science Quarterly, 472-500.
43 Haveman, H. A. (1993), "Follow the Leader: Mimetic Isomorphism and Entry into New Markets", Administrative Science Quarterly, 593-627.
44 Hitt, M., Hoskisson, R. and Kim, H. (1997), "International Diversification: Effects on Innovation and Firm Performance in Product Diversified Firm", Academy of Management Journal, 40(4): 767-798.   DOI
45 Belsley, D. A., Kuh, E. and Welsch, R. E. (1980), Regression Diagnostics: Identifying Influential Data and Sources of Collinearity, Wiley Series in Probability and Statistics.
46 Wiseman, R. M. and Bromiley, P. (1996), "Toward a Model of Risk in Declining Organizations: An Empirical Examination of Risk, Performance and Decline", Organization Science, 7(5): 524-543.   DOI
47 Artz, K. W., Norman, P. M., Hatfield, D. E. and Cardinal, L. B. (2010), "A Longitudinal Study of the Impact of R&D, Patents, and Product Innovation on Firm Performance", Journal of Product Innovation Management, 27(5): 725-740.   DOI
48 Barney, J. (1991), "Firm Resources and Sustained Competitive Advantage", Journal of management, 17(1): 99-120.   DOI
49 Baum, J. A. and Mezias, S. J. (1992), "Localized Competition and Organizational Failure in the Manhattan Hotel Industry, 1898-1990", Administrative Science Quarterly, 580-604.
50 Baum, J. A. and Singh, J. V. (1994), "Organizational Niches and the Dynamics of Organizational Mortality", American Journal of Sociology, 100(2): 346-380.   DOI
51 Berry, C. H. (1971), "Corporate Growth and Diversification", The Journal of Law and Economics, 14(2): 371-383.   DOI
52 Bores, C., Saurina, C. and Torres, R. (2003), "Technological Convergence: A Strategic Perspective", Technovation, 23(1): 1-13.   DOI
53 Bourgeois, L. J. and Singh, J. V. (1983), "Organizational Slack and Political Behavior Among Top Management Teams", Academy of Management Proceedings, Academy of Management, 1983(1): 43-47.   DOI
54 Bowen, H. P. and Wiersema, M. F. (2005), "Foreign‐Based Competition and Corporate Diversification Strategy", Strategic Management Journal, 26(12): 1153-1171.   DOI
55 Burt, R. S. (2005), Brokerage and closure: An Introduction to Social Capital, Oxford University Press.
56 Cheng, J. L. and Kesner, I. F. (1997), "Organizational Slack and Response to Environmental Shifts: The Impact of Resource Allocation Patterns", Journal of management, 23(1): 1-18.
57 Kodama, F. (1995), Emerging Patterns of Innovation, Harvard Business School Press.
58 Jacquemin, A. P. and Berry, C. H. (1979), "Entropy Measure of Diversification and Corporate Growth", The Journal of Industrial Economics, 27(4): 359-369.   DOI
59 Jaffe, A. B. and Trajtenberg, M. (2002), Patents, Citations, and Innovations: A Window on the Knowledge Economy, MIT press.
60 Kim, Y., Kim, L. and Lee, J. (1989), "Innovation Strategy of Local Pharmaceutical Firms in Korea: a Multivariate Analysis", Technology Analysis & Strategic Management, 1(1): 29-44.   DOI
61 Kulatilaka, N. and Perotti, E. C. (1998), "Strategic Growth Options", Management Science, 44(8): 1021-1031.   DOI
62 Lee, C., Lee, K. and Pennings, J. M. (2001), "Internal Capabilities, External Networks, and Performance: A Study on Technology‐based Ventures", Strategic Management Journal, 22(6): 615-640.   DOI
63 Levinthal, D. A. (1997), "Adaptation on Rugged Landscapes", Management Science, 43(7): 934-950.   DOI
64 Levy, H. and Sarnat, M. (1970), "International Diversification of Investment Portfolios", The American Economic Review, 60(4): 668-675.
65 Lin, W. T., Cheng, K. Y. and Liu, Y. (2009), "Organizational Slack and Firm's Internationalization: A Longitudinal Study of High-technology Firms", Journal of World Business, 44(4): 397-406.   DOI
66 Martinez, R. J. and Artz, K. (2006), "An Examination of Firm Slack and Risk-taking in Regulated and Deregulated Airlines", Journal of Managerial Issues, 18(1): 11-31.
67 McGahan, A. M. and Porter, M. E. (1997), "How Much Does Industry Matter, Really?", Strategic Management Journal, 18(Summer Special Issue): 15-30.   DOI