Korean Academic Society of Business Administration
[ Article ]
korean management review - Vol. 52, No. 5, pp.1045-1069
ISSN: 1226-1874 (Print)
Print publication date 31 Oct 2023
Received 03 Feb 2023 Revised 23 Jul 2023 Accepted 03 Aug 2023
DOI: https://doi.org/10.17287/kmr.2023.52.5.1045

외국인직접투자기업이 국내 산업클러스터의 혁신성과에 미치는 영향에 관한 연구

Haewon Kim ; Woojin Yoon
(First Author) Hanyang University kmhssss@hanyang.ac.kr
(Corresponding Author) Hanyang University - ERICA, Division of Business Administration wyoon@hanyang.ac.kr
Knowledge Spillovers of Foreign-invested Firms: Innovation Performance of Industry Clusters in Korea


Copyright 2023 THE KOREAN ACADEMIC SOCIETY OF BUSINESS ADMINISTRATION
This is an open access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted, distribution, and reproduction in any medium, provided the original work is properly cited.

Abstract

This study aims to investigate whether the presence of foreign-invested firms in domestic industry clusters actually causes a spillover effect by examining the mechanism of the agglomeration effect in the industry cluster. Specifically, this study suggests that the number of non-market institutions near a cluster and a cluster’s productivity have a positive moderating effect on the relationship between the ratio of foreign-invested firms in the cluster and innovation performance. The statistical results support our arguments. First, the ratio of foreign-invested firms in the cluster has a positive impact on the innovation performance of the cluster. Second, the cluster’s productivity showed a positive moderating effect on the relationship between the ratio of foreign-invested firms in the cluster and the cluster’s innovation performance. Third, the number of non-market institutions positively moderate the relationship between the ratio of foreign-invested firms in the cluster and the cluster’s innovation performance.

Keywords:

Foreign direct investment, Industry cluster, Innovation, Spillovers

Acknowledgments

This work was supported by the Ministry of Education of the Republic of Korea and the National Research Foundation of Korea(NRF-2019S1A5A2A01047439).

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∙ The author Haewon Kim is a PhD candidate at Department of Strategic Management, Hanyang University Graduate School. She received her BS and MS degrees at Hanyang University with a major in business administration. She published her paper in Journal of Organization & Management, Korean Journal of Management, International Business Journal, Journal of Strategic Management, and International Journal of Innovation Studies. Her research interests focus on organizational learning, knowledge transfer and innovation, MNC networks and strategic alliances.

∙ The author Woojin Yoon is a professor of strategic management at Hanyang University, ERICA campus. He holds his BS and MS degrees in business administration from Yonsei University and a PhD in strategic management and international business from Seoul National University. His research has appeared in Management Decision, Journal of Management & Organization, Review of Managerial Science, Journal of Innovation & Knowledge, Managerial and Decision Economics, Journal of Business Strategy, Journal of Transnational Management, Journal of the Knowledge Economy and others. His research interests include organizational learning, technology management and innovation, and organizational identity and resource mobilization.