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  • 저자

    金國一

  • 학위수여기관

    韓國外國語大學校 大學院

  • 학위구분

    국내박사

  • 학과

    경영학과

  • 지도교수

    權錫均

  • 발행년도

    2014

  • 총페이지

    191 p

  • 키워드

    재무적 여유자원 인적 여유자원 혁신성과 재무성과 조직생존 조직연령 조직규모;

  • 언어

    kor

  • 원문 URL

    http://www.riss.kr/link?id=T13538793&outLink=K  

  • 초록

    The Impact of Organizational Slack on Innovative Performance, Financial Performance and Organizational Survival This study aims to examine the multidimensional relationship between slack resources and organizational performance. The core issue of the study on the slack resources is whether an organization can actively adapt itself to the changing environment through the accumulation or rationalization. The researchers of the “behavioral theory of the firm” and “resource-based view” who put emphasis on the accumulation of slack resources see that the slack resources protect the organization's technical core from changes in management environment and function as a means to enable organization to adapt to the change at the same time. On the other hand, the researchers of “organizational economics” and “agency theory” who put emphasis on the rationalization of the slack resources argue that the slack resources cause some management inefficiencies such as self-satisfaction, complacency, the occurrence of agency costs, excessive diversification, and empire-building, etc. Due to the differing opinions on the slack resources, there have been mixed opinions in the prior theories and empirical researches, thus saying that there are positive, negative, non-linear relationship between the slack resources and organizational performance. Thus, it can be said that the relationship between slack resource and organizational performance is still an important research theme for the development of adaptation theory. Meanwhile, the impact of slack resources on the organizational performance will be affected by what other companies in the same industry or organizational population. In the light of environmental selection, the organizational ecology deals with how other companies in the same organizational population can affect the growth and death of an individual company. Even though the organizational ecology does not completely deny the organizational efforts of adapting to the changes, it assumes that organizations have a big difficulty in adapting to fast changing environment. In ecological view, it considers that the organizational adaptations are limited. On the other hand, it views that the natural selection decides whether an organization would survive or not because organizations are not able to succeed in adapting to the uncertain and fast environmental changes. For this reason, the organizational ecologists focused attention on ecological variables such as population density, organizational age, organizational size, niche width, etc. So, they did not pay much attention to organizational change or adaptive behavior related to the slack resources. Thus, the ecological studies on the slack resource's role and function as a adaptive means was almost non-existent. It would be more correct in real world to say that the organizational success or failure will be affected not only by the organizational effort for survival but also by the environmental selection. Therefore, this study examined the direct effect of organizational slack resources on organizational performance in a real world, and also on how the ecological variables such as organizational age and organizational size would moderate the relationship between the slack resources and the organizational performance. First, from the perspective of adaption theory, to examine whether the organizational slack resources increase or decrease organizational performance, we adopted two independent variables (financial slack, and human slack resource) and their interactions. Also, we adopted three dependent variables (innovative performance, financial performance, and organizational survival). Furthermore, to find out the selective force of environment, we adopted two additional moderating variables which are considered as ecological variables (organizational age, and organizational size). A longitudinal data during the 14 (or 15) years from 1998 to 2012 (or 2013) for 22,660 non-financial sector firms subject to outside auditing including KOSPI and KOSDAQ companies were used. After suffering the Asian financial crisis in late 1990s, Korean economy experienced 3 or 4 business cycles including booms and recessions. During this period, the Korean companies converted their management paradigm from the pursuit of external growth through loans in the past to the internal growth through profitable management. Using this new management style, the companies have put more emphasis on the organization capability in accumulating and utilizing the corporate slack resources than the past. Accordingly, the research target and research period for this study would be very timely considering the relationship between slack resources and organizational performance. The analysis of causality between slack and innovative or financial performance used multiple regression model. Also, the analysis of causality between slack and organizational survival used discrete-time logit model. In this study, the hypothesis is as follows. H1a. Financial slack resources will have effect on the innovative performance in an inverted U-shaped curvilinear manner. H1b. Financial slack resources will have the effect on the financial performance in an inverted U-shaped curvilinear manner. H1c. Financial slack will have a positive relationship on the organizational survival. H2a. Human resource slack will have effect on the innovative performance in an inverted U-shaped curvilinear manner. H2b. Human resource slack will have an effect on the financial performance in an inverted U-shaped curvilinear manner. H2c. Human resource slack will have an effect on the organizational survival in an inverted U-shaped curvilinear manner. H3a. The interaction of financial slack and human resource slack will have the positive effect on the innovative performance. H3b. The interaction of financial slack and human resource slack will have the negative effect on the financial performance. H3c. The interaction of financial slack and human resource slack will have the negative effect on the organizational performance. H4a. Organizational age will have the positive moderating effect on the relationship between organizational slack and organizational performance. H4b. Organizational age will have the negative moderating effect on the relationship between organizational slack and organizational performance. H5a. Organizational size will have the positive moderating effect on the relationship between organizational slack and organizational performance. H5b. Organizational size will have the negative moderating effect on the relationship between organizational slack and organizational performance. The findings of this study are as follows. First, it was found out that the financial slack affect the innovative performance in the U-shaped curvilinear manner, affect the financial performances in the inverted U-shaped curvilinear manner. but affects the organizational survival in the positive way. Accordingly, Hypothesis 1a was not supported, but hypothesis both 1b and 1c were all supported. Second, it was found out that the human resource slack affects the innovative performance, financial performance and organizational survival in the inverted U-shaped curvilinear manner as shown in the hypotheses. Thus, Hypothesis 2a, 2b, 2c were all supported. Third, the interaction of financial slack and human resource slack made the positive significant effect on the innovative performance and made the significant negative effect on the financial performance but it made not significant effect on the organizational performance. Thus, Hypothesis 3a~3b was supported, but Hypothesis 3c was not supported. Fourth, it was found out that the organizational age made the positive moderating effect on the relationship between human resource slack and innovative performance or financial performance, but made the negative moderating effect on the between financial slack and innovative performance. Thus, hypothesis 4a and 4b were partially supported. Finally, it was found out that the organizational size makes the positive moderating effect on the relationship between financial slack and financial performance, but makes the negative moderating effect on the relations between financial slack & innovative performance, financial slack resources & organizational survival, human resource slack & innovative performance and human resource slack & financial performance. Thus, hypothesis 5a and 5b were partially supported. In summary, it was found out that each of financial slack, human resource slack, and the interaction of two slack resources has a different effect on innovative performance, financial performance, and organizational survival. Also, the relation is moderated by ecological variables (organizational age and size). Therefore, the results indicate that the slack resources management is one of specific set of organizational competencies that can explain the organizational performance or evolution. According to the findings, this paper suggests the relevant theoretical and practical implications, limitations, and future research directions. Key Words: financial slack, human resource slack, innovative performance, financial performance, organizational survival, organizational age, organizational size


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