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Determinants of Firm's R&D Intensity: : 기업 연구개발 투자활동의 결정요인: 'Shifting Focus of Attention Model'을 바탕으로
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- Authors
- Advisor
- 이경묵
- Major
- 경영대학 경영학과
- Issue Date
- 2014-02
- Publisher
- 서울대학교 대학원
- Keywords
- R&D Intensity ; Performance-Aspiration Gap ; CEO Power ; Stock Price Volatility ; Organizational Attention ; Stability of Authority
- Description
- 학위논문 (석사)-- 서울대학교 대학원 : 경영학과, 2014. 2. 이경묵.
- Abstract
- Abstract
Determinants of Firms R&D Intensity:
Based on Shifting Focus of Attention Model
Il-hyung Cho
Department of Business Administration
The Graduate School
Seoul National University
This study investigates firms search behavior (R&D activity) by utilizing March and Shapiras shifting focus of attention model. In accordance with shifting focus of attention model, this research suggests that organizations search behavior is induced by its performance feedback and that the nature of this relationship is determined by whichever reference point is the focus of organizational attention. By examining the R&D expenditures of Koreas IT device manufacturing companies from 2002 to 2012, this study shows that a degree of gap between organizations achieved performance and its aspiration level affect which reference point (among aspiration, survival, and slack) organizational attention is focused on and that firms decision on R&D investment varies with this attention. In addition, performance-aspiration gap and a degree of stability of organizational authority have interactive effects on search behavior. Firms R&D intensity strengthens when CEOs power in TMT (a factor that positively affects stability of authority) increases, whereas the influence of stock price volatility (a factor that negatively affects stability of authority) on firms decision on R&D activity is not significant. The findings suggest that stability of organizational authority could function as strong factor that determines firms search and risk taking behavior.
Keywords: R&D intensity, performance-aspiration gap, CEO power, stock price volatility, organizational attention, stability of authority
Student Number: 2012-20526
- Language
- English
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