한국융합학회논문지 (Journal of the Korea Convergence Society)

  • 제13권4호
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  • Pages.397-407
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  • 2022
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  • 2233-4890(pISSN)
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  • 2713-6353(eISSN)
한국융합학회 (Korea Convergence Society)
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전략적 일탈이 기업가치, 미래 성과, 성과지속성에 미치는 영향

Effect of Strategic Deviation on Corporate Value, Future Performance and Performance Persistence

  • 박원 (경남대학교 경영학부)
  • Park, Won (School of Business Administration, Kyungnam University)
  • 투고 : 2022.02.27
  • 심사 : 2022.04.20
  • 발행 : 2022.04.28
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초록

본 연구는 산업 내에서 모방적인 경영전략을 표방하지 않고 차별화된 전략을 수행하는 기업의 미래 성과 혹은 기업가치의 관련성을 검증하고자 한다. 경영전략은 기업의 발전과 성장 가능성에 중요한 역할을 하며 미래 성과와 기업가치를 결정짓는 요인이기도 하다. 이러한 경영전략은 산업에 따라 차이가 존재하며 동일 업종에서 이질적인 전략은 기업의 미래 성과와 가치에 영향을 줄 수 있다. 본 연구에서는 국내 기업을 대상으로 전략적 일탈 기업들의 미래 성과와 기업가치의 관계를 검증하기 위하여 2011년부터 2019년까지 상장법인을 대상으로 분석을 실시하였다. 검증결과 전략적 일탈은 기업가치에 양(+)의 영향을 미치는 것으로 나타났지만 미래 성과는 음(-)의 영향을 미치며 성과의 지속성에도 영향을 미치는 것으로 나타났다. 이러한 결과들은 전략을 구분하여 전략에 따른 특성이 기업가치, 미래성과 등에 대한 연구를 확대하여 전략적 일탈이 기업가치 혹은 미래성과, 성과의 지속성에 미치는 영향을 검증한 것에 의미가 있는 것으로 보인다.

This study examines the effect of deviant strategies on corporate value and future performance by departing from the same strategy as other firms in the same industry. Business strategy affects the development and growth potential of a firm and becomes an important factor in determining future performance and corporate value. Business strategies differ according to industrial characteristics, and a firm that implements a heterogeneous strategy within the same industry may have different future performance or corporate value compared to other firms. This study analyzed listed firms from 2011 to 2019 in order to verify the effect of strategic deviation on the relationship between future performance or corporate value. The analysis results are as follows. First, strategic deviation was found to have a positive (+) effect on corporate value, but it was found to have a negative (-) effect on future performance and also affect the persistence of performance. These results are meaningful in examining the effect of strategic deviation on corporate value or future performance and performance persistence by classifying strategies in prior studies and expanding the results that the type of strategy affects corporate value and future performance.

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