A Study on Relation between Strategic Attributes of Technological Resources and Competitive Advantage: Empirical Analysis of VRIO Framework by Using Technology Evaluation Results of Technology Based SMEs

기술자원의 전략적 자원속성과 경쟁우위간의 관계에 관한 연구: 기술중소기업의 기술평가자료를 이용한 VRIO Framework의 실증분석

  • 송주영 (기술보증기금 국제협력실) ;
  • 성형석 (기술보증기금 리스크관리부)
  • Received : 2015.06.01
  • Accepted : 2015.09.05
  • Published : 2015.09.30

Abstract

The resource-based view (RBV) explains that the competitive advantage is mainly based on the resources which have strategic characteristics. Therefore, finding, developing and maintaining strategically valuable resources has been one of main research topics and a starting point in the corporate strategy structure in RBV. In this regards, attempts to recognize strategically valuable resources have been one of crucial issues in RBV researches. Especially, Barney's VRIO has been widely used as a practical tool for finding strategically valuable resources. However, empirical studies on VRIO framework's effectiveness have not been sufficiently implemented, and there has been no proven relation among the components of the VRIO so far. This is mainly because the concepts or definitions on core components of the VRIO - Value, Rareness, Inimitability, and Organization - are too comprehensively explained and measurements of each component cannot be easily quantified. Considering these, this paper presents empirical results of the relation between VRIO components and competitive advantage, and tests effectiveness of VRIO Framework with utilizing sufficient technology evaluation cases and financial statements of 2,252 technology based SMEs in Korea. As a result, the components of the VRIO have a positive influence on competitive advantage. The attributes of strategic resources - Value, Rareness, and Inimitability - have a statistically meaningful positive effect on organization, while organization has a positive effect on the competitive advantage serving as a parameter between the attributes of strategic resources and competitive advantage.

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