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Korean Academic Society of Business Administration
[ Article ]
korean management review - Vol. 46, No. 4, pp.1017-1041
ISSN: 1226-1874 (Print)
Print publication date 31 Aug 2017
Received 30 Jul 2016 Revised 31 May 2017 Accepted 14 Jun 2017
DOI: https://doi.org/10.17287/kmr.2017.46.4.1017

후발기업의 내부 R&D와 모방 경험이 혁신에 미치는 영향: 한국 제약산업을 중심으로

민병준* ; 김초월** ; 송재용***
*(주저자) 서울대학교 경영대학원 전략/국제경영 박사과정 hellombj@gmail.com
**(공저자) 서울대학교 경영대학원 전략/국제경영 박사과정 trudykim@snu.ac.kr
***(교신저자) 서울대학교 경영대학 교수 jsong@snu.ac.kr
The Effects of Internal R&D and Imitation Experiences on Latecomer Innovation: Evidence from the Korean Pharmaceutical Industry
Byungjun Min* ; Chuyue Jin** ; Jaeyong Song***
*Ph. D Candidate, Graduate School of Business, Seoul National University, First Author
**Ph. D Candidate, Graduate School of Business, Seoul National University, Co-Author
***Professor, Graduate School of Business, Seoul National University, Corresponding Author

초록

이 논문은 후발기업의 내부 R&D 투자와 선도기업 제품, 기술에 대한 모방 경험이 점진적 혁신과 급진적 혁신 성과에 미치는 영향에 대해 실증적으로 연구한다. 후발기업은 기술, R&D 인력, 투자 재원, 시장 접근성 등 경쟁우위 확보에 필요한 주요 자원이 부족한 상태에서 산업에 진입한다. 따라서 후발기업은 시장에서의 생존과 경쟁우위 확보를 위해 선도기업의 제품과 기술을 모방하기도 하고 내부 R&D 투자를 통해 자체적으로 혁신역량을 구축하기도 한다. 우리는 후발기업의 혁신에 대한 기존 연구를 바탕으로 후발기업의 내부 R&D 투자가 기업 수준의 점진적 혁신과 급진적 혁신에 독립적인 영향을 미치며 모방 경험의 지식 다양성이 이러한 효과를 조절한다는 가설을 수립하였다. 가설 검증을 위해 전형적인 후발기업에 해당하는 58개 한국 제약 기업을 표본으로 10년 간(2006~2015년)의 패널데이터를 구성하고 확률효과 패널 포아송 모형을 사용하여 연구 가설을 검증하였다. 분석 결과 후발기업의 내부 R&D 투자는 점진적 혁신에 독립적으로는 영향을 미치지 않지만 급진적 혁신에는 긍정적 영향을 미치는 것으로 나타났다. 한편, 후발기업의 모방 지식의 다양성과 내부 R&D 투자가 점진적 혁신에 긍정적 상호작용을 미친 반면 내부 R&D 투자가 급진적 혁신에 미치는 긍정적 영향은 모방 지식의 다양성에 의해 완화되었다. 실증 분석 결과는 후발기업이 점진적 혁신에 성공하기 위해서는 다양한 지식 영역에서 모방을 하는 동시에 내부 R&D 투자도 함께 늘리는 전략을 취해야 하는 반면, 급진적 혁신을 추구할 경우에는 내부 R&D 투자를 증가시키면서 선택과 집중의 모방 전략을 취해야 한다는 점을 시사한다. 우리는 이 연구 결과를 바탕으로 내부 R&D 투자와 기업 수준에서의 적절한 모방 포트폴리오 전략 수립과 실행이 후발기업의 유용한 혁신 전략이 될 수 있음을 제시한다.

Abstract

This paper investigates how latecomer firms(latecomers)’ internal R&D investment and imitation affect innovation. Most of latecomers entering industries are relatively lack of critical resources, such as technologies, financial resources, and R&D engineers or scientists compared to the industry incumbents. To survive and build competitive advantage, latecomers either imitate products and technologies of incumbent firms or invest in R&D activities to build their own innovation capabilities. Based on the literature of latecomers’ innovation, we developed hypotheses regarding how the latecomer’s R&D investment affect incremental and radical innovation and how knowledge diversity of imitation moderates the relationship between R&D investment and incremental and radical innovation performance, respectively. We constructed the panel dataset of 10 years(2006~2015) of 58 Korean pharmaceutical firms which can be seen as representative latecomer firms, and tested the hypotheses using random-effect panel Poisson model. We found that the knowledge diversity of imitation and R&D investment has a positive interaction effect on incremental innovation performance, but each has no independent effect. Meanwhile, the results show that the R&D investment has positive effect on the latecomer’s radical innovation, but the knowledge diversity of imitation negatively moderates the positive effect of R&D investment on radical innovation. Such findings imply that latecomers would be better to increase the knowledge diversity of imitation and R&D investment simultaneously to promote incremental innovation, but to adopt more focused imitation strategy to pursue radical innovation. Based on the results, we suggest that establishing strategic imitation portfolio at the firm level will be a feasible and useful innovation strategy for latecomers.

Keywords:

Latecomer strategy, Imitation and innovation, Incremental and radical innovation, Korean pharmaceutical industry

키워드:

후발기업 전략, 모방과 혁신, 점진적 혁신과 급진적 혁신, 한국 제약 산업

Acknowledgments

본 논문은 서울대학교 경영대학 경영연구소의 교수논문연구비 지원으로 이루어졌음

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• 저자 민병준은 현재 서울대학교 경영대학원 전략/국제경영 전공 박사과정에 재학 중이다. 서울대학교 경제학부 및 경영대학원 석사과정을 졸업하였다. 현재 연구 중인 주제는 후발기업의 학습 및 혁신 창출 메커니즘이다.

• 저자 김초월은 현재 서울대학교 경영대학원 전략/국제경영 전공 박사과정에 재학 중이다. 북경대학교 경제학부 및 서울대학교 경영대학원 석사과정을 졸업하였다. 현재 연구 중인 주제는 다국적기업의 혁신 활동, 자회사 간의 협업을 통한 혁신, 후발기업의 캐치업 등이다.

• 저자 송재용은 서울대 경영대 교수로 2014년 아모레퍼시픽 석학교수로 임명되었다. Columbia대, 연세대 교수를 역임했으며 Academy of International Business의 석학종신회원(fellow)이다. 한국경영학회 SERI중견경영학자상, 미국경영학회 (AOM) 최우수박사논문상을 수상했고, Journal of International Business Studies의 에디터였다.