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Choi, Young Rok
Entrepreneurship & Innovation Strategy Lab
Research Interests
  • Entrepreneurship, Innovation Strategy, Family & Small Business, Strategic Alliances


Market-oriented institutional change and R&D investments: Do business groups enhance advantage?

DC Field Value Language Choi, Young Rok ko Yoshikawa, Toru ko Zahra, Shaker A. ko Han, Bong H. ko 2015-07-15T00:38:05Z - 2015-05-23 ko 2014-10 -
dc.identifier.citation JOURNAL OF WORLD BUSINESS, v.49, no.4, pp.466 - 475 ko
dc.identifier.issn 1090-9516 ko
dc.identifier.uri -
dc.identifier.uri ko
dc.description.abstract Emerging market firms (EMFs) are increasingly relying on innovation to find their competitive advantage, but our understanding of how institutional change affects firm innovation has been limited. We analyzed Korean manufacturing firms from 1994 to 2006 to test the proposition that market-oriented institutional change in an emerging economy alleviates firms’ financing constraints and monitoring problems and improves the effectiveness of their innovation activities. Institutional evolution in the economy was found to affect Korean business groups and independent firms differently. Institutional change reduced the financing constraints on independent firms more than for business group affiliates in R&D investment. Independent firms, however, appeared less capable than group affiliates of translating the benefits of improved institutional environments into efficient R&D investment. This asymmetry may lead to a wider gap in the efficiency of R&D investment between business group affiliates and independent firms. ko
dc.description.statementofresponsibility close -
dc.language ENG ko
dc.publisher ELSEVIER SCIENCE INC ko
dc.subject Institutional change ko
dc.subject Research and development ko
dc.subject Business groups ko
dc.subject Financing constraints ko
dc.subject Governance reforms ko
dc.title Market-oriented institutional change and R&D investments: Do business groups enhance advantage? ko
dc.type ARTICLE ko
dc.identifier.scopusid 2-s2.0-84908048663 ko
dc.identifier.wosid 000343358900002 ko
dc.type.rims ART ko
dc.description.wostc 0 *
dc.description.scopustc 1 * 2015-11-04 *
dc.identifier.doi 10.1016/j.jwb.2013.10.002 ko
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