Corporate Strategies and Performances of Korean Firms: The Unified Theory of the Firm Perspective

Park, Hong Y.; Shin, Geon-Cheol; Jurn, Iksu

doi:10.1080/12265080902891818

Cited by 5 publications

(4 citation statements)

References 35 publications

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“…The following studies, like Park et al . (2009), Kudlats et al (2014) and Hopkins and Ferguson (2014), show that the difference between average labor productivity and average labor cost is a statistically significant factor in firm performance.…”

Section: Resultsmentioning

confidence: 96%

Family firms’ innovation drivers and performance: a dynamic capabilities approach

Park

Misra

Reddy

et al. 2019

JFBM

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Purpose Entrepreneurial innovation has been the most important source for improvement in firm performance. Innovation in family firms has become the focal issue in firm strategy. In today’s high-velocity environment, the dynamic organizational adaptation is essential for sustainable competitive advantage. The purpose of this paper is to investigate the nature of changes in external environment and the relationship between changes in the economic environment and family firms’ innovation in response to the environmental shift. Design/methodology/approach The authors designed a survey questionnaire to obtain primary data for the study. The survey consists of family firm structure, innovation drivers, governance, core competence and performance. Authors applied a random stratified sample method in selecting samples to reflect the population in family firms. Findings The study identified market conditions, technology and regulation as innovation drivers. The authors found that these innovation drivers have positive effects on family firm performance, although the technology variable is the only statistically significant variable at the conventional statistical significance level. Research limitations/implications The authors expected to have better response rate, and wish to have more observations. The authors would have stronger results if you could get more data. Practical implications Family firms need to respond to the high velocity of environment and to develop capabilities that understand the nature of changes in economic environment and take effective steps. The study findings offer guidelines for the managers of how to manage the firms in the dynamic environment. Social implications Family firms should use this results to develop strategies to deal with various economics situations. Originality/value The study identifies innovation drivers in family firms. The study contributes to finding and empirical testing of family firm innovation drivers. Findings of the study are valuable for managing the high velocity of today’s economic environment: changes in markets, technologies and regulations.

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Section: Resultsmentioning

confidence: 96%

Family firms’ innovation drivers and performance: a dynamic capabilities approach

Park

Misra

Reddy

et al. 2019

JFBM

Self Cite

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“…Other scholar, such as Park, Shin and Jurn (2009) [3], on the contrary, stress on the importance of corporate strategy, state that certain aspects of strategic, such as the economy of scale, firm size, debt/equity ratio, and product range, can lead to profound influence on corporate performance. Hill [17], identified that R&D expenditure is positively related to profitability, while excessive diversification will bring passive influence on profitability.…”

Section: Corporate Strategymentioning

confidence: 99%

“…Previous researches indicated valid relation between corporate strategy and firm performance. (Porter, 1991 [2] ; Park, Shin and Jurn, 2009 [3] ). This article adopted quantitative analysis, taking three professional service firms as case studies.…”

mentioning

confidence: 99%

The Influence of Corporate Strategy on the Performance of Professional Service Firms under Covid-19 Pandemic

2022

AJBM

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Professional service firms has been regarded as prototypes of knowledge economy and "future enterprise" (Boussebaa& Faulconbridge, 2019) [1] . With the development of digital technology and rapidly changing external environment, companies face great challenges. Especially when the Covid-19 pandemic stoke the world. Previous researches indicated valid relation between corporate strategy and firm performance. (Porter, 1991 [2] ; Park, Shin and Jurn, 2009 [3] ). This article adopted quantitative analysis, taking three professional service firms as case studies. Secondary data is collected through financial reports, and official websites of the three companies. It is revealed that the largest professional service firms, though striving with the VUCA environment, managed to maintain a profit. Based on acquired information, the author first made a descriptive analysis of the data, then conducted correlation test and linear regression test. The relationship between both independence variables and company performance was identified to be valid.

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“…He highlighted the neoclassical theory that ownership and institutions neither affect the objective of firm nor its knowledge base, technology nor cost efficiency. Park and Shin (2004) believes the performance of the firm depends on technological advance, intellectual development and spirituality. Walker (2008) said that technological advance enhances the performance of firm by using incentive-system theory.…”

Section: Literature Reviewmentioning

confidence: 99%

Unified theory of firm: an empirical analysis

Duasa

Sarif

Sabian

2020

JIABR

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Purpose Four main strategies required for firms to be able to achieve their main objectives in organizations under the unified theory of the firm are technological advance, intellectual development, spirituality conducts and customer satisfaction concern. This study aims to explore the inclination of firms to adopt all these strategies in, factors that contribute to the adoption of all these strategies and significant relationship between these strategies of firms in the context of Malaysian firms. Design/methodology/approach Using primary data from the survey on a sample of firms in the financial sector of Malaysia, the study adopts several methods of analysis such as t-test for dependent sample, t-test for independent sample and correlation. Furthermore, ordinary least squares regressions are estimated to determine factors that have an impact on a particular strategy. Findings It is found that the strategies of the unified theory of the firm significantly contributed to the education level of managers. Highly educated managers tend to adopt strategies most of the time. It is also found that scores of customer satisfaction concern are highly related to scores of intellectual development and spirituality conduct. The correlation coefficient is also high between spirituality conduct and intellectual development. Originality/value The study analyzes the adoption of important strategies of a unified theory of firm among several firms using first-hand data (primary data) collected from the survey.

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Corporate Strategies and Performances of Korean Firms: The Unified Theory of the Firm Perspective

Cited by 5 publications

References 35 publications

Family firms’ innovation drivers and performance: a dynamic capabilities approach

Family firms’ innovation drivers and performance: a dynamic capabilities approach

The Influence of Corporate Strategy on the Performance of Professional Service Firms under Covid-19 Pandemic

Unified theory of firm: an empirical analysis

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