Asia-Pacific Journal of Business Venturing and Entrepreneurship (벤처창업연구)

The Korean Society of Business Venturing (한국벤처창업학회)
권호 표지

Impact of Corporate Entrepreneurship, Human Resource Innovation on the Firms' Innovation Activities and Nonfinancial Performance: A Exploratory Research of KOSDAQ Companies

사내기업가정신, 인적자원혁신성이 기업혁신활동과 비재무적 성과에 미치는 영향에 관한 탐색적 연구

  • Received : 2017.07.10
  • Accepted : 2017.08.25
  • Published : 2017.08.31
Download PDF
⟨ Previous Next ⟩

Abstract

New business management methods different from the past are necessary because of the rapid changes of the corporates' environment. KOSDAQ(Korean Securities Dealers Automated Quotation) companies should be expected the more affirmative business performance of companies by listing, but it is a well-known that they have problems of low business performance mostly. This paper aims to investigate the influential factors on enhancing corporate innovation and nonfinantial business performance, and to clarify practical measures and present a solution of KOSDAQ companies' problems through analysis of previous researches and an empirical research. This research present corporate entrepreneurship and human resources innovation as impact factors on the business performance to apply finely the path of technological innovation for the solution of the relevance investigation limit between the complexity of corporates' innovation paths and the firms' performance. And also knowledge management activities and external networks management or the firms have been adopted as a corporate innovation activities for free from quantitative measures, such as conventional research and development(R&D) activities by considering recent corporates' knowledge business operations. The results of the empirical analysis shows that significant impact factors on corporate innovation activities are the firms' propensities of competitive advantage initiative, risk taking and chief executive officer's innovation. These can be interpreted that the CEOs' innovation propensity should be enhanced for stimulating corporate's innovaton activities, which include the CEOs' interest in the development of new technology, the exploiting new businesses and their support of the innovation discipline for employees. In addition, it can be said that it is necessary to intensify more initiatives within those enterprise for enhancing the competitive advantage in the identical industry. The significant impact factors of corporate entrepreneurship and human resource innovation on the non-financial performance are resulted as the propensities of firms' competitive advantage initiative, CEOs' innovation and employees' innovaton. This shows that the higher propensities of firms' competitive advantage initiative, CEOs' innovation and employees' innovaton, the higher the cognitive degrees of business performance within each corporate, which include the members' awareness about firms' sales growth, market share growth, profit ratio growth, customers' preference and corporates' awareness.

기업을 둘러싼 외부 환경의 급격한 변화로 과거와는 다른 새로운 경영방법이 필요한 시대가 되었다. 국내 코스닥기업은 상장으로 인해 기업의 경영성과가 긍정적으로 나타날 것이라 기대하지만 대부분의 경우에는 낮은 경영성과의 문제를 안고 있는 것이 주지의 사실이다. 본 연구는 이러한 코스닥기업들의 문제에 대한 해결방법을 제시하고자 선행연구 분석과 실증적 연구를 통해 기업 혁신 제고와 경영 성과 향상에 미치는 영향 요인을 규명하고 그 실무적 방안을 제시하는 것을 목적으로 한다. 본 논문은 기업의 혁신경로의 복잡성과 경영성과간의 연관성 규명 한계에 대한 해결책중 하나로서 혁신 경로에 대한 세밀한 적용을 위해 기업 경영 성과에 미치는 요인으로 사내기업가정신과 인적자원혁신성을 제시하고, 기업혁신활동으로는 종래의 연구개발(R&D) 활동과 같은 정량적 지표에서 벗어나 최근 기업의 지식 경영 활동을 감안하여 지식경영활동과 외부네트워크 관리를 도입하였다. 실증적 분석결과는 기업혁신활동에 유의적인 영향을 주는 사내기업가정신과 인적자원혁신성 요인들로는 경쟁우위적극성, 위험감수성, 최고경영자혁신성으로 나타났다. 이를 통한 해석은 기업 혁신활동을 활발하게 하려면 최고경영자의 신기술 개발 및 신사업 발굴에 대한 관심도와 최고경영자의 직원들에 대한 혁신 교육 훈련 지원, 즉 최고경영자의 혁신성을 높여야 한다. 아울러 동종업계에서 경쟁우위를 높이려는 적극성을 기업내에 더욱 심화시킬 필요가 있다고 할 수 있다. 기업의 비재무적성과 지표인 경영성과인지에 영향을 미치는 사내기업가정신과 인적자원혁신성 요인들 중에는 경쟁우위적극성, 최고경영자 혁신성, 종업원 혁신성으로 나타났다. 이를 통해 기업의 경쟁우위 적극성과 최고경영자의 혁신성, 그리고 종업원의 혁신성이 높을수록 기업내 경영성과 인지도가 높아지고 이는 결국 기업내 종사원들의 기업의 매출액 증가 인지, 시장 점유율 증가 인지, 이익률 증가 인지, 고객선호도, 기업인지도 들을 높인다고 할 수 있다.

Keywords

References

  1. Alegre, J., & Chiva, R.(2013). Linking Entrepreneurial Orientation and Firm Performance: The Role of Organizational Learning Capability and Innovation Performance, Journal of Small Business Management, 51(4), 491-507. https://doi.org/10.1111/jsbm.12005
  2. Amabile, T. M.(1988). A model of creativity and innovation in organizations. Research in Organizational Behavior, 10(1), 123-167.
  3. Arnal, A. S., Hassan, R. H., & Benson, W.(2003). An Empirical Investigation of the Performance Consequences of Nonfinancial Measures, Journal of Management Accounting Research, 15, 193-223. https://doi.org/10.2308/jmar.2003.15.1.193
  4. Bae, H. Y.(2015), The Mediating Effect of Corporate Reputation between the Organizational Slack and Corporate Performance in Venture SMEs, Asia Pacific Journal of Business Venturing and Entrepreneurship, 10(2), 17-25. https://doi.org/10.16972/apjbve.10.2.201504.17
  5. Bae, Z. T., & Cha, M. S.(2009). Expanding and Revitalizing Entrepreneurship in Korea, The Korean Small Business Reviews, 31(1), 109-128.
  6. Baker, W. E., & Sinkula J. M.(2009). The Complementary Effects of Market Orientation and Entrepreneurial Orientation on Profitability in Small Business, Journal of Small Business Management, 47(4), 443-464. https://doi.org/10.1111/j.1540-627X.2009.00278.x
  7. Ban, J. I., Son, H. C. & Kim S. H.(2013), Impacts of Innovation Success Factors on Technological Innovation Capability and Innovation Performance, Journal of the Korean Production and Operations Management Society, 24(3), 409-430.
  8. Banker, R. D., Porter G., & Srinivasan, D.(2000). An empirical investigation of an Incentive plan that includes nonfinancial performance measures, The Accounting Research, 15, 193-223.
  9. Bates, R., & Khasawneh S.(2005). Organizational Learning Culture, Learning Transfer Climate and Perceived Innovation in Jordanian Organizations, International Journal of Training and Development, 9(2), 96-109 https://doi.org/10.1111/j.1468-2419.2005.00224.x
  10. Bierwerth, M., Schwens, C., Isidor, R., & Kabst, R.(2015). Corporate Entrepreneurship and Performance: A Meta-Analysis, Small Business Economics, 45(2), 255-278. https://doi.org/10.1007/s11187-015-9629-1
  11. Burgelman, R. A., Christensien, C. M. & Wheelwright, S. C.(2004). Strategic Management of Technology and Innovation, McGraw-Hill.
  12. Carden, S. D.(2005). What global executives think about growth and risk, Mckinsey Quarterly (2), 16-25.
  13. Ceifis, E., & Orsenigo, L.(2001). The persistence of innovative activities: a cross-countries and cross-sectors comparative analysis, Research Policy, 30, 1139-1158. https://doi.org/10.1016/S0048-7333(00)00139-6
  14. Chang, S. D., & Kang, T. H.(2010). The Effects of Environmental Uncertainty, Organizational Slack, and Paternalism on Corporate Entrepreneurship and Firm Performance: An Empirical Study of SMEs in Korea, Asia Pacific Journal of Small Business, 32(3), 68-87.
  15. Cheong, J. J.(2005). A Study on the Effect of Fitness Among Differentiation Strategy, Organic Structure and Top Management Characteristics on Organization Performance, Journal of Industrial Economics and Business, 18(5), 2067-2085.
  16. Chung, D. S.(2011). A Study on Taxonomy of Exploration and Exploitation Inno-Biz Small-Medium Corporation, Korean Journal of Business Adminstration, 24(6), 3723-3741.
  17. Covin, J. G., & Slevin, D. P.(1991). A Conceptual Model of Entrepreneurship as Firm Behavior, Entrepreneurship Theory and Practice, 16(1), 7-25. https://doi.org/10.1177/104225879101600102
  18. Dess, G. G., Lumpkin G. T. & Mckee J. E.(1999). Linking Corporate Entrepreneurship to Strategy, Structure, and Process: Suggested Research Directions, Entrepreneurship: Theory and Practice, 23(3), 85. https://doi.org/10.1177/104225879902300306
  19. Freel, M. S.(2000). Do small innovation firms outperform non-innovator?, Small Business Economics, 14, 195-210. https://doi.org/10.1023/A:1008100206266
  20. Garvin, D. A., & Levesque, L. C.(2006). Meeting the Challenge of Corporate Entrepreneurship, Harvard Business Review, 84(10).
  21. Gold, A. H., Malhotra, A., & Segars, A. H.(2001). Knowledge Management: An Organizational Capabilities Perspective, Journal of Management Information Systems, 18(1), 185-214. https://doi.org/10.1080/07421222.2001.11045669
  22. Goldsmith, R. E., & Hofacker, C. F.(1991). Measuring consumer innovativeness, Journal of the Academy of Marketing Science, 19(3), 209-221. https://doi.org/10.1007/BF02726497
  23. Goodale, J. C., Kuratko, D. F., Hornsby, J. S., & Covin, J. G.(2011). Operations Management and Corporate Entrepreneurship: The Moderating Effect of Operations Control on the Antecedents of Corporate Entrepreneurial Activity in Relation to Innovation Performance, Journal of Operations Management, 29(2), 116-127. https://doi.org/10.1016/j.jom.2010.07.005
  24. Govindarajan, V.(1988). A Contingency Approach to Strategy Implementation at the Business Unit Level: Integrating Administrative Mechanisms with Strategy, Academy of Management Journal, 31(4), 828-853. https://doi.org/10.2307/256341
  25. Gupta, A. K., & Govindarajan, V.(1986). Resource sharing among SBUs: Strategic Antecedents and Administrative Implications, Academy of Management Journal, 29(4), 695-714. https://doi.org/10.2307/255940
  26. Guth, W. D., & Ginsberg, A.(1990), Guest Editors' Introduction: Corporate Entrepreneurship, Strategic Management Journal, 11(5), 5-15.
  27. Hackney, R., Desouza, K., & Loebbecke, C.(2005). Cooperation or Competition: Knowledge Sharing Processes in Inter-Organizational Networks, In Second International Conference on Knowledge Management, Charlotte, North Carolina.
  28. Hamel, G.(2007). The Future of Management, Harvard Business School, Press Books.
  29. Hay, M., & Kamshad(1994). Small firm growth : intentions, implementation and impediments, Business Strategy Review, 5(3), 49-68. https://doi.org/10.1111/j.1467-8616.1994.tb00166.x
  30. Heunks, F. J.(1998). Innovation creativity and growth : The strategic use of external resources, Journal of Business Venturing, 4, 133-147.
  31. Hong, J. H., Cho, Y. S., Park, H. H., & Choi, J H.(2012). The Impact of CEO Business Propensity, Innovation Orientation and Employee Innovation Activity on Business Performances: Focused on the Small, Medium and Venture Enterprises, Journal of Product Research, 30(7), 19-32.
  32. Hsu, C., Tan, K. C., Jayaram, J. & Laosirihongthong, T. (2014). Corporate Entrepreneurship, Operations Core Competency and Innovation in Emerging Economics, International Journal of Production Research, 52(18), 5467-5483. https://doi.org/10.1080/00207543.2014.915069
  33. Hwangbo, Y., & Kim, H. C.(2014). Impact of Corporate's Innovation Climate, the recognition of intellectual property's importance and NPD internal activity On the New Product Development Performance, Asia Pacific Journal of Business Venturing and Entrepreneurship, 9(6), 163-170.
  34. Ittner, C. D., & Larcker, D. F.(1998). Are nonfinancial measures leading Indicators of financial performance? An analysis of customer satisfaction, Journal of Accounting Research, 36, Supplement, 1-35.
  35. Ittner, C. D., & Larcker, D. F.(2003). Coming up short on nonfinancial Performance measurement, Harvard Business Review, 81, 88-95.
  36. Kim, K. D., & Hong, W. S.(2011). Effect of Firm's Activities on Their Performances, Journal of Korea Technology Innovation Society, 14(2), 373-404.
  37. Kim, K. Y.(2014), A Study on Effects of Business Performance on Technological Innovation Activities of Food Service Enterprise, Doctoral Dissertation, Honam University.
  38. Kim, S. J., & Choi, S. W.(2016). The Effect of Employee's Entrepreneurship Level (Capacity, Attitude, CEO Support) on Entrepreneurial Culture, Structure and Operation Systems of Corporate : Focused on Design Corporate in Korea, Asia Pacific Journal of Business Venturing and Entrepreneurship, 11(4), 103-116. https://doi.org/10.16972/apjbve.11.4.201608.103
  39. Kim, Y. H., & Yang, T. Y.(2013). Researching Entrepreneurship over the Last Decade: A Challenge for the 21st Century, Asia Pacific Journal of Small Business, 35(3), 347-376.
  40. Kim, Y. T.(2015). A Study on Entrepreneurship Measurements Index Development, Proceedings of The Korean Academic Association of Business Administration 2015 Autumn Conference, 89-95.
  41. Kuratko, D. F., & Audretsch D. B.(2013). Clarifying the Domains of Corporate Entrepreneurship, International Entrepreneurship and Management Journal, 9(3), 323-335. https://doi.org/10.1007/s11365-013-0257-4
  42. Kuratko, D. F.. & Hodgetts, R. M.(2007). Entrepreneurship: Theory, Process, Practice(7th ed.), Mason, oh : Thomson South-Western.
  43. Kuratko, D. F., Hornsby, J. S. & Goldsby, M. G.(2004). Sustaining Corporate Entrepreneurship: A Proposed Model of Perceived Implementation/Outcome Comparisons at the Organizational and Individual Levels, International Journal of Entrepreneurship and Innovation, 5(2), 77-79. https://doi.org/10.5367/000000004773863237
  44. Kuratko, D. F., Hornsby, J. S., & Hayton, J.(2015). Corporate Entrepreneurship: The Innovative Challenge for a New Global Economic Reality, Small Business Economics, 45(2), 245-253. https://doi.org/10.1007/s11187-015-9630-8
  45. Lassen, A. H., Gertsen, F., & Riis, J. O.(2006). The nexus of corporate entrepreneurship and radical innovation. Creativity and Innovation Management, 15(4), 359-372. https://doi.org/10.1111/j.1467-8691.2006.00406.x
  46. Lee, D. M., & Lim, S. J.(2012). Determinants of Exploitative & Exploratory Innovation Activities and Their Effects on Innovation Output and Perceived Performance, Journal of Strategic Management, 15(1), 1-31.
  47. Lee, J. H.(2005). Relationship among Corporate Entrepreneurship, Organizational Structure, Organizational Cultures, and Organizational Performances, Doctoral Dissertation, Yongnam University.
  48. Lee, J. K., & Park, T. K.(2016). Corporate Entrepreneurship in Korea : Review and Future Research Directions, Proceedings of Korean Academic Society Of Business Administration Conference 2015, 1448-1474.
  49. Lee, J. W. & Gang, Y. W.(2006). Impact of the Cooperation with Large Enterprise on Technological Innovation of SME: An Exploratory Study, The Asian Pacific Journal of Small Business, 28(3), 243-268.
  50. Liao, S. & Hu, T.(2007). Knowledge Transfer and Competitive Advantage on Environmental Uncertainty: An Empirical Study of the Taiwan Semiconductor Industry, Technovation, 27(6-7), 402-411. https://doi.org/10.1016/j.technovation.2007.02.005
  51. Madhoushi, M., Sadati, A, Delavari, H., Mehdivand, M., & Mihandost, R.(2011). Entrepreneurial Orientation and Innovation Performance: The Mediating Role of Knowledge Management, Asian Journal of Business Management, 3(4), 310-316.
  52. Miller, D., & Toulouse, J. M.(1986). Chief Executive Personality and Corporate Strategy and Structure in Small Firms, Management Science, 86(32), 1389-1409.
  53. Na, S. G.(2009). A Study on the Relationship among Characteristics of Top Management, Technology Management Capability and Performances of Small and Medium sized Firms, Journal of the Korean Institute of Plant Engineering, 14(3), 67-81.
  54. Nonaka, I.(1988). Toward middle-up-down management: accelerating information creation, Sloan Management Review, 29(3), 9-18.
  55. Park, J. M., & Lee, J. M.(2011). How Do Firms' Innovation Behaviors Affect their Outputs in Korea?, Journal of The Korea Contents Association, 11(3), 339-350. https://doi.org/10.5392/JKCA.2011.11.3.339
  56. Park, C. M.(2005). The Impact of the Firm Performance on the SMEs CEO Characteristics in Yeongnam Area, Journal of Industrial Economics and Business, 18(3), 1075-1101.
  57. Perera, S., Harrison, G. & Poole, M.(1997) Customer-Focused Manufacturing Strategy and the Use of Operations-Based Nonfinancial Performance Measures: A Research Note, Accounting, Organization and Society, 22(6), 557-572. https://doi.org/10.1016/S0361-3682(96)00048-7
  58. Phan, P. H., Wright, M. Ucbasaran, D., & Tan W. L.(2009) Corporate Entrepreneurship: Current Research and Future Directions, Journal of Business Venturing, 24, 197-205. https://doi.org/10.1016/j.jbusvent.2009.01.007
  59. Renko, M., Carsrud A., & Brannback, M.(2009), The Effect of a Market Orientation, Entrepreneurial Orientation, and Technological Capability on Innovativeness: A Study of Young Biotechnology Ventures in the United States and in Scandinavia, Journal of Small Business Management, 43(3), 331-369. https://doi.org/10.1111/j.1540-627X.2005.00140.x
  60. Rogers, E. M.(2003). Diffusion of Innovation, 4th ed, NY: Free Press.
  61. Romijin, H., & Albaladejo(2002). Determinants of Innovation Capability in Small Electronics and Software firms in Southeast England, Research Policy, 31(7), 1053-1067. https://doi.org/10.1016/S0048-7333(01)00176-7
  62. Shane, S., & Venkataraman, S.(2000). The promise of entrepreneurship as a field of research, Academy of Management Review, 25(1), 217-226. https://doi.org/10.5465/amr.2000.2791611
  63. Sung, T. K(2002), The Factor of Determination of the firm's decision: the Resource-based Exploratory research, Journal of Technology Innovation, 10(2), 69-90.
  64. Staw, B. M.(1990). An Evolutionary to Creativity and Innovation and Creativity at work: Psychological and Organizational Strategies, M. A. West & J .L. Farr (eds.), New York: John Wiley & Sons, 287-308.
  65. Venkataraman, N., & Ramanujam, V.(1986). Measurement of Business Performance in Strategy Research: A Comparison of Approaches, Academy of Management Review, 11(4), 801-814. https://doi.org/10.5465/amr.1986.4283976
  66. Yun, J. R., & Kim, H. C.(2009). The Effect of Entrepreneurs Characteristics and Differentiation Strategy on Performance of Venture Business, Korean Journal of Business Adminstration, 22(6), 3693-3721.
  67. Yun, S. H., & Choo, G. W.(2014). An Empirical Study of the Impact of the Technology Innovation Capabilities an Patent-related Activites from the Knowledge Management and New Product Development on the Business Performance, Journal of Industrial Economics and Business, 27(4), 1653-1683.
  68. Zahra, S. A.(1991). Predictors and Financial Outcomes of Corporate Entrepreneurship: An Exploratory Study, Journal of Business Venturing, 6(4), 259-285. https://doi.org/10.1016/0883-9026(91)90019-A
  69. Zahra, S. A., Ireland, R. D., Gutierrez, I. & Hitt, M. A.(2000). Privatization and Entrepreneurial Transformation: Emerging Issues and a Future Research Agenda, Academy of Management Review, 25(3), 509-524. https://doi.org/10.5465/amr.2000.3363324
  70. Zahra, S. A., Jennings D. F., & Kuratko D. F.(1999). The Antecedents and Consequences of Firm-Level Entrepreneurship: The State of the Field, Entrepreneurship Theory and Practice, 24(2), 45-65. https://doi.org/10.1177/104225879902400205
  71. 김계수(2006). AMOS 구조방정식 모형분석, 서울: 한나래
  72. 이철기(2012). 탐험학습 및 활용학습과 조직성과간의 관계, 직업능력개발연구, 15(1), 1-23.