YoungJun Kim

Corporate foresight and innovation: the effects of integrative capabilities and organisational learning

ABSTRACT Despite the importance of corporate foresight for innovation management, scholars have yet to identify the organisational processes through which corporate foresight influences a company’s innovativeness. Drawing on the resource-based view and dynamic capabilities theory, we developed a model and posited that the effect of corporate foresight on innovativeness is mediated by organisational learning, while the relationship between corporate foresight and organisational learning is moderated by integrative capabilities. We conducted an empirical study in the manufacturing industry and found support for the study model, in which the indirect effect of corporate foresight on innovativeness through organisational learning was conditional on the level of integrative capabilities. This study has theoretical and practical implications for a more nuanced understanding of corporate foresight and its effect on innovation management.

Product-Service System and Firm Performance: The Mediating Role of Product and Process Technological Innovation

Abstract In this study, we examine the effects of product-service system (PSS) practices on firm performance with the help of unique survey data obtained from one of the leading emerging countries. In particular, we explore the mechanisms that explain the link between PSS and firm performance. We propose that a firm’s introduction of PSS is positively associated with the performance of that company in terms of product and process technological innovation. The findings show that PSS influences a firm’s performance through process technological innovation at the company, not through product technological innovation. The results suggest that firms should focus more on developing a new business process or business system in order to leverage the power of PSS.

Home bias in emerging bond and stock markets

In this paper, we empirically examine sizes and sources of home bias in both bond and equity markets for twenty emerging countries and twenty-two developed countries over the 2001-11 sample period. The average size of home bias in both bond and stock markets is found to be much larger in emerging countries than in developed countries. Using the explanatory variables in two categories of economic development and market performance, we employ dynamic panel data regression models to analyze major sources of home bias. The main results are the following: First, market performance factors generally affect home bias more strongly than do economic development factors. Second, market factors including market return, volatility, and liquidity support various hypotheses under informational asymmetries, such as return chasing, risk aversion, and flight to quality. Third, among macroeconomic factors, it is shown that real gross domestic product growth has negative effects and country leverage has positive effects on a specific home bias, backing up the size-bias and the flight-to-quality hypotheses, respectively. Finally, and perhaps most important in this paper, the effect of bond market performance on equity home bias is found to be significantly stronger than the effect of equity market performance on bond home bias from the market interaction model estimation, suggesting that a policy design needs to begin with increasing bond market efficiency to reduce equity market home bias.

What affects corporate commercialization of public technology transfer in Korea

This study investigates the potential factors that might affect the successful corporate commercialization in public technology transfer (PTT), i.e. technology transfer from non-profit public research institutions and universities (PRI&U) to private companies. The empirical analyses are done with the help of unique data sets prepared by the Korean government agency. The important explanatory factors relate to PRI&U researchers additional support after the technology transfer, the potential absorptive capacity of the company, and the companys previous R&D partnership experience with the same PRI&U. PRI&Us technology transfer performance and involvement of a technology transfer intermediary, however, do not enhance the propensity of transferred technologies’ commercialization success. In conclusion, we draw some policy implications regarding PTT practices in Korea.

Introduction: Technology, Finance, and Trade in Emerging Markets

An introduction is presented in which the editor discusses various reports within the special issue on topics including the effect of innovation activities on export performance, technology management and finance, and the role of product and process technological innovation on firm performance.

Technology licensing and the performance of firms in US Information and Communication Technology industry: The case of licensees

This paper empirically investigates the effects of technology licensing on the licensee firm’s performance with the help of a unique data set of observed licensing transactions in Information and Communication Technology (ICT) industry. We examine how intensity of licensing participation as a licensee affects the firm’s performance. This study also analyzes how relationship between the licensor and the licensee in a deal along with characteristics of participants and their industry influences the performance of the licensee firm. The findings suggest that frequent participation in technology licensing increase licensee firm’s sales growth. Also, transaction cost considerations and technology spillovers are important explanatory factors that influence licensee firms’ performance in licensing.