경영정보학연구 (Information Systems Review)

  • 제26권4호
  • /
  • Pages.311-326
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  • 2024
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  • 2982-6551(pISSN)
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  • 2982-6837(eISSN)
한국경영정보학회 (The Korea Society of Management Information Systems)
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선도·추격 기업 간 생산성 발산과 수렴에 관한 연구: 추격 기업의 인수합병을 중심으로

A Study on the Productivity Divergence/Convergence between Leading and Following Firms: The Role of Following Firm's Mergers and Acquisitions

  • 장영봉 (성균관대학교 경영대학) ;
  • 권영옥 (숙명여자대학교 경영학부)
  • Young Bong Chang (Business School, Sungkyunkwan University) ;
  • YoungOk Kwon (Division of Business Administration, Sookmyung Women's University)
  • 투고 : 2024.09.22
  • 심사 : 2024.11.27
  • 발행 : 2024.11.30
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초록

본 연구는 2000년대 이후 산업 전반에 걸쳐 나타나는 생산성 하락 및 선도·추격 기업간 생산성격차 확대 현상을 검증하고, 추격 기업의 IT 기업 인수합병 전략이 생산성에 미치는 영향을 분석하였다. 1995년 이후 25년에 걸친 방대한 자료 분석 결과, 2000년대 중반 이후 선도 기업들의 공격적인 인수합병 활동이 본격화됨과 동시에, 추격 기업과의 생산성 격차가 더욱 확대되었음이 확인되었다. 또한, 선도 기업의 인수합병 비율은 추격 기업보다 현저히 높은 수준으로 나타났다. 추격 기업의 IT기업 인수가 생산성에 미치는 1차적 효과는 대체로 부정적인 것으로 나타났다. 하지만, 선도 기업의 생산성 증가는 후발 기업의 생산성 향상에 정(+)의 영향을 미치는 것으로 나타나 선도·추격 기업간 파급 효과가 존재하고 있음을 보였다. 특히 선도 기업과의 생산성 격차가 클수록 IT기업 인수를 통한 후발 추격 기업의 생산성 증대효과가 더 두드러지게 나타났다. 산업 전반의 생산성이 하락하고 기업간 격차가 확대되고 있는 현시점에, 본 논문의 연구 결과는 선도 기업에서 추격 기업으로의 생산성 파급 효과를 규명하고, 추격 기업의 IT기업 인수합병이 생산성 격차 완화에 미치는 관계를 실증적으로 규명하였다는 점에서 의의가 있다.

This study investigates the decline in productivity across industries since the 2000s and the productivity gap between leading and following firms, focusing on the impact of IT firm acquisitions on this divergence. Based on the data spanning 25 years from 1995, the results show that aggressive M&A activities by leading firms, particularly in the mid-2000s, have contributed to a widening productivity gap. While leading firms consistently engaged in more M&A activities than following firms, the initial impact of IT firm acquisitions by following firms negatively impacted their productivity. However, the productivity gains of leading firms exhibited a positive effect, fostering convergence in the productivity of following firms. Additionally, the larger the productivity gap between leading and following firms, the more significant the productivity gains following firms experienced through IT firm acquisitions. These findings provide empirical evidence of the role of IT firm acquisitions in reducing the productivity gap, offering insights into the dynamics of productivity convergence and divergence between leading and following firms.

키워드

과제정보

본 논문은 2023년 대한민국 교육부와 한국연구재단의 인문사회분야 중견연구자지원사업의 지원을 받아 수행된 연구임(NRF-2023S1A5A2A01077753).

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