기업간 연구개발 및 마케팅 관계 형성이 기업의 성과 위험에 미치는 영향

Abstract

In today's highly competitive and dynamic global market environment, firms are facing risks associated with their performance in the market. In response, forming various alliances is becoming increasingly common as a means to access various complementary resources and thus reduce firm performance risks. While the existing marketing literature emphasizes balancing value creation and value appropriation to reduce firm performance risks, this study attempts to extend this stream of research by investigating the implication of specializing in either one. Specifically, this study investigates the effects on firm performance risk of specializing alliances in R&D or marketing, whereby innovation reflects value creation activities and marketing reflects value appropriation activities, such as sales or promotion. We examine how a firm's internal investment specialization in either innovation or marketing moderates the effect of alliance specialization in either R&D or marketing on firm performance risk. We further examine the moderating effect of industry dynamism. To analyze the suggested hypotheses, we collected alliance and financial information of firms in the high-tech industries between 1985 and 2005 from various secondary data sources. Contrary to the previous emphasis on the superior benefits of balancing innovation and marketing, this study reveals boundary conditions under which specializing both internal investments and alliance formation in either innovation or marketing can generate a positive interaction for the firm profitability. We also find that alliance specialization in marketing helps companies control firm performance risk in dynamic industrial environment.throughout the NPD process. The implications, limitations and future studies based on the current study are discussed.