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Managerial myopia and short-termism of innovation strategy: Financialisation of Korean firms
- SEO, Hwan Joo;
- Kang, Sung Jin;
- Baek, Yong Jun
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31초록
This study empirically examines whether managerial myopia leads to short-termism of innovation strategy using Korean firm and USPTO data covering 1980-2017. The main finding is that payout indicators, as the proxy variables for financialisation and managerial myopia, have a negative effect on innovation, quantitatively and qualitatively. Hence, managerial myopia and short-termism of innovation strategy are related. Further, estimation by the firm's size reveals that the hypothesis of managerial myopia leading to short-termism of innovation strategy is valid only for conglomerates. © 2020 The Author(s). Published by Oxford University Press on behalf of the Cambridge Political Economy Society. All rights reserved.
키워드
Financialisation; Innovation strategy; Korean firms; Managerial myopia; Radical innovation; Short-termism; competitiveness; development strategy; empirical analysis; finance; firm size; innovation; qualitative analysis; quantitative analysis
- 제목
- Managerial myopia and short-termism of innovation strategy: Financialisation of Korean firms
- 저자
- SEO, Hwan Joo; Kang, Sung Jin; Baek, Yong Jun
- 발행일
- 2020-11
- 권
- 44
- 호
- 6
- 페이지
- 1197 ~ 1220
- 언어
- ENG
- 출판사
- Oxford University Press
- 발행국가
- 영국
- 분량
- 24 페이지
- ISSN
- E 1464-3545
P 0309-166X