최고경영진 규모와 전략적 제휴: 기업 연령의 조절효과

초록

This paper aims to examine the relationships among the Top Management Team (TMT) size, the firm's age, and the formation of strategic alliances of KOSDAQ-listed companies. Specifically, this study empirically analyzes the direct effects of the TMT size and the firm's age on the formation of strategic alliances. Furthermore, we investigate whether firm age moderates the relationship between TMT size and strategic alliance formation by weakening the impact of TMT size. To test the hypotheses, this study examines a sample of 281 domestic small and medium-sized manufacturing companies listed on the KOSDAQ at 1997. The statistical results indicate that the TMT size has a positive impact on alliance formation, whereas the firm's age has a negative effect. In addition, we find that firm age weakens the positive effect of TMT size on alliance formation. This study suggests that the strategic decision-making of TMT could be influenced by the network resources of TMT and organizational context, and that the decision-making mechanisms accumulated within organizations could limit the utilization of TMT's potential network resources. This study discusses the potential benefits of TMT size as an organizational-level contextual factor that has received relatively little attention in previous studies. It also explains the mechanisms by which changes in organizational decision-making processes occur with firm age. By providing empirical evidence based on data from domestic firms, this study offers important implications both academically and practically.

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