외국인직접투자가 제품시장 경쟁의 매개효과를 통하여 기업혁신에 미치는 영향

• 영문명: The Effects of Inward Foreign Direct Investments on Firm Innovation through a Mediation Effect of Product Market Competition
• 발행기관: 한국무역연구원
• 저자명: 임정대(Jeong-Dae Yim)
• 간행물 정보: 『무역연구』제15권 제6호, 367~392쪽, 전체 26쪽
• 주제분류: 경제경영 > 무역학
• 파일형태: PDF
• 발행일자: 2019.12.30

영문 초록

Purpose - For Korean listed firms, this study investigates the effects of inward foreign direct investment (FDI) on innovation through a mediation effect of product market competition. Design/methodology/approach - Using the sample constructed by 16,591 firm-year observations between 1999 and 2016, this study adopts the methodology presented by Baron and Kenny (1986) in order to confirm a mediation effect of product market competition. Findings - First, inward FDI increases the degree of product market competition. This result indicates that FDI poses a competitive threat to Korean listed firms. Furthermore, the mediation effect of product market competition is statistically significant, which can be seen as empirical evidence that a competitive effect exists in FDI for Korea. Second, the main results remains robust in estimating Poisson, negative binomial and Tobit models, in estimating the empirical model at industry-level and in using alternative variables for product market competition. Meanwhile, the competitive effect of FDI only occurs in greenfield FDI when classifying FDI into greenfield and cross-border M&A. Finally, the competitive effect of FDI does not exist for Chaebol firms. Research implications or Originality - This study differs from Korean literature by using the number of patent applications that gauges successful innovation as a proxy for firm innovation. In addition, this study first explores the effect of FDI, considering product market competition as a mediation variable. The findings in this study contribute to providing further evidence for the literature relating to FDI or firm innovation. Furthermore, at a time when the scale of FDI continues to decline sharply, empirical analysis for the effects of FDI provides policy makers with implications on absorbing FDI to Korea.

목차

Ⅰ. 서론

Ⅱ. 관련문헌과 가설

Ⅲ. 자료, 변수 및 연구모형

Ⅳ. 실증분석 결과

Ⅴ. 결론

키워드

Firm Innovation Inward Foreign Direct Investment Product Market Competition