기업다운사이징에대한전략적접근 : 복수의성과목표추구와다운사이징의사결정 ( 정대훈 신동엽 ) 27 1, 2017. 3. pp.139~166 1).,.,,.,..,,. 2000 2014 15 323,,.,, : 2017 2 3, : 2017 2 11, : 2017 3 9 ** ( 1 ), immaqsad2009@gmail.com ** ( 2 ), dshin@yonsei.ac.kr
産業關係硏究제 27 권제 1 호.. (downsizing) (corporate restructuring). (, 2003;, 1997; Cameron, Freeman, & Mishra, 1991; Cascio, 1993).,, (, 2003).., (self-interest), (Cascio, 1993; Worrel, Davidson, & Sharma, 1991)..... (fitness). (static), (dynamic).. (organizational learning theory).
기업다운사이징에대한전략적접근 : 복수의성과목표추구와다운사이징의사결정 ( 정대훈 신동엽 ), (Ethiraj & Levinthal, 2009; Greve, 2008; Kim, Finkelstein, & Haleblianet, 2015; Short & Palmer, 2003)..,.,..,., (sequential attention) (quasi-resolution),,.,. 6,. 2000 2014 15 323, 1...,
産業關係硏究제 27 권제 1 호, (, 2003; Bowman & Singh, 1993). (Budros, 1999: 70). (layoff),.,., (Bowman & Singh, 1993), (organizational restructuring) (, 2003).,, (Budros, 1999).,,,..,.,,,, (, 2003;, 2001; Boss & Golembiewski, 1995; Budros, 1999; Filatotchev, Buck, & Zhukov, 2000; Ford, 1985; Greenhalgh, Lawrence, & Suttonet, 1988; Kraatz & Zajac, 2001)..,, (, 2001; Guthrin & Datta, 2008; Love & Kraatz, 2009).,.,.,.
기업다운사이징에대한전략적접근 : 복수의성과목표추구와다운사이징의사결정 ( 정대훈 신동엽 ).., (self-interest) (Cascio, 1993; Worrel et al., 1991)., (, 2003; Budros, 1999).., (McKinley, Sanchez, & Schick, 1995)..,., (McKinley, Zhao, & Rust, 2000)., (Budros, 1999).,.,.,, (Chandler, 1962; Starbuck, 1965; Penrose, 1959),,.,.,.,.
産業關係硏究제 27 권제 1 호.,., (Cyert & March, 1963; Greve, 2003).,.... (Barney, 1991), (Lawrence & Lorsch, 1967), (Porter, 1980).,,...,..., (adaptation mechanism). (maximizing) (bounded rationality) (satisficing) (March & Simon, 1958)., (aspiration level),
기업다운사이징에대한전략적접근 : 복수의성과목표추구와다운사이징의사결정 ( 정대훈 신동엽 ) (organizational learning process). (Levitt & March, 1988).. (organizational search model) (problemistic search), (slack search) (Greve, 1998, 2003).,... (coalition), (bargaining) (Cyert & March, 1963).,., (Ethiraj & Levinthal, 2009).,..,.. (Chandler, 1962; Cyert & March, 1963; Greve, 2008; Penrose, 1959; Porter, 1980; Williamson, 1985),.,.
産業關係硏究제 27 권제 1 호,, (Chandler, 1962; Starbuck, 1965; Penrose, 1959).,,,,, (Peng & Heath, 1996; Penrose, 1959; Williamson, 1985)., (bureaucratic cost) (Nelson & Winter, 1982; Williamson, 1985), (structural inertia) (Hannan & Freeman, 1984)..,.,, (DiMaggio & Powell, 1983). (reference group), (Short & Palmer, 2008)., (M&A).,.,.,
기업다운사이징에대한전략적접근 : 복수의성과목표추구와다운사이징의사결정 ( 정대훈 신동엽 ) (rule of maximizing) (rule of appropriateness) (March & Olsen, 1984). 1.,. (Cyert & March, 1963).,,. (Chen, 2008; Desai, 2008; Greve, 2003).,. (Freeman & Cameron, 1993; Mckinley et al., 2000)., (reactive restructuring) (, 2001).,.,. 2.
産業關係硏究제 27 권제 1 호 (Cyert & March, 1963).,,.,.. (sequential attention) (quasi resolution)., (Cyert & March, 1963)., (Greve, 2008)., (Staw, Sandelands, & Dutton, 1981)... 2....,. 3 4.
기업다운사이징에대한전략적접근 : 복수의성과목표추구와다운사이징의사결정 ( 정대훈 신동엽 ),.,..,. 5 6.. 60-70 30% 80 3 3.. 90 1. 1997,. 2000,, (, 2010). 10 8, 2008, (, 2015).
産業關係硏究제 27 권제 1 호.,.,..,,.,..,...,. 2015 3 1,.,,,,. (archival data), (DART). 70,., 2000 2014 323. 15 59 13, 2,216.
기업다운사이징에대한전략적접근 : 복수의성과목표추구와다운사이징의사결정 ( 정대훈 신동엽 )...,,. 15,..,.,,,., 0, 0. 1. (ROA), (Greve, 2003).,.. (Cyert & March, 1963),.
産業關係硏究제 27 권제 1 호.,.,. -1/2~+1/2,. 0 (spline variable). 0, 0. 1., (organizational ecology) (mortality).,.,..., (Hannan & Freeman, 1984).,..
기업다운사이징에대한전략적접근 : 복수의성과목표추구와다운사이징의사결정 ( 정대훈 신동엽 ), (log-transformation). (Bromiley, 1991; Singh, 1986)., (Cyert & March, 1963; Greve, 2003; Singh, 1986).,. (, 2003).,.. (Ahmadjian & Robinson, 2001; McKinley et al., 1995)., (DiMaggio & Powell, 1983).,..., t-1.
産業關係硏究제 27 권제 1 호.,... 2000~2014, 2008., 2008 2009 1/10., 2008. (GLS). (White test) (OLS) (homoscedasticity) (heteroscedasticity), (GLS) (Sayrs, 1989;, 2012). (Hausman test) (error term) (autocorrelation), (random model). (longitudinal data) (reverse causality relationship) 1 (time-lag) (Duncan, Magnuson, & Ludwig, 2004). < 1>.,
기업다운사이징에대한전략적접근 : 복수의성과목표추구와다운사이징의사결정 ( 정대훈 신동엽 ) 5. < 2> (GLS). [ 1], [ 2] 1. [ 3] 2, [ 4]. [ 5]~[ 8] 4, [ 5] [ 6] 3 4, [ 7] [ 8] 5 6. [ 9]. [ 1].,.,.,,. [ 2] 1 (+), 1. [ 3] 2 (+). [ 8] [ 9] 2 ([ 8] p<.10 ). [ 5]~[ 8], 3-6. [ 9], 6 (β=0.4223).. ( 3) (β=-0.0527)., ( 3, 4)
産業關係硏究제 27 권제 1 호 변수 Mean S.D. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 1 다운사이징규모 6.36 33.56 1.00 2 연도더미 0.09 0.29 0.00 1.00 3 산업매출성장률 1.12 0.14-0.04 0.05 ** 1.00 4 산업선박수주량 2.32 107 1.19 107-0.03 0.28 ** 0.68 ** 1.00 5 종업원의수 (Log) 1.71 0.61 0.32 ** -0.01 0.00-0.03 1.00 6 조직나이 16.25 115.67 0.04 0.00-0.01 0.01 0.11 ** 1.00 7 자산총액 2.85 1011 1.91 1012 0.28 ** 0.02-0.03-0.01 0.55 ** 0.04 * 1.00 8 인수합병 (M&A) 0.02 0.13 0.03 0.00-0.04* -0.03 0.09 ** 0.16 ** 0.09 ** 1.00 9 재무적여유자원 4.60 89.18-0.01 0.04 * 0.00 0.02-0.07 ** -0.01-0.01-0.01 1.00 10 모방효과 0.27 0.11-0.05* -0.19 ** -0.74 ** -0.48 ** 0.07 ** 0.03-0.06 ** 0.02 0.01 1.00 11 폐업률 0.02 0.03-0.03 0.08 ** 0.09 ** 0.10 ** 0.04 * 0.06 ** -0.07 ** -0.02 0.01-0.02 1.00 12 부정적인수익성성과피드백 0.04 0.26 0.04 * 0.00-0.01 0.00-0.04 * 0.01-0.01 0.07 ** 0.00 0.01-0.01 1.00 13 긍정적인수익성성과피드백 0.04 0.09-0.02-0.01-0.03 0.01-0.02-0.02 0.05 ** -0.03-0.01 0.04 * -0.06 ** -0.08 ** 1.00 14 부정적인규모성장성과피드백 153.91 808.80 0.13 ** 0.00 0.01 0.00 0.40 ** 0.27 ** 0.15 ** 0.14 ** -0.01 0.08 ** -0.02 0.01-0.03 1.00 15 긍정적인규모성장성과피드백 153.90 1429.61 0.36 ** 0.00 0.01 0.00 0.42 ** 0.01 0.83 ** 0.06 ** -0.01-0.16 ** -0.05* -0.01 0.03-0.02 1.00 : 1) N = 2,216 2) *p <.05, **p <.01.
기업다운사이징에대한전략적접근 : 복수의성과목표추구와다운사이징의사결정 ( 정대훈 신동엽 ) 통제변수 모형 1 모형 2 모형 3 모형 4 모형 5 모형 6 모형 7 모형 8 모형 9 연도더미 산업매출성장률 산업선박수주량 종업원의수 (Log) 조직나이 자산총액 인수합병 재무적여유자원 모방효과 폐업률 긍정적인수익성성과피드백 부정적인수익성성과피드백 독립변수 긍정적인규모성장성과피드백 부정적인규모성장성과피드백 상호작용변수 긍정적인수익성성과피드백 부정적인규모성장성과피드백 긍정적인수익성성과피드백 긍정적인규모성장성과피드백 부정적인수익성성과피드백 부정적인규모성장성과피드백 부정적인수익성성과피드백 긍정적인규모성장성과피드백 상수 -4.261 (2.802) -45.36 *** (9.699) -.000 17.98 *** (1.709).0017 (.0058).0000 *** -3.483 (5.399) -1.002 (.6693) -66.97 *** (10.25) -33.69 (25.83) -1.696 (8.206).0004 (.0010) 46.86 *** (11.85) -1.100 (2.723) -30.75 *** (9.459) -.000 16.14 *** (1.660) -.0002 (.0056) -.0000 *** -5.046 (5.226) -.9999 (.6475) -36.26 *** (10.22) -41.90 (25.00) -.7137 (7.940).0037 *** (.0010).0113 *** (.0009) 24.92 * (11.60) -4.278 (2.799) -45.09 *** (9.689) -.000 18.12 *** (1.708).0018 (.0058).0000 *** -5.103 (5.434) -1.104 (.6698) -65.20 *** (10.24) -33.83 (25.81).2497 (8.235).0004 (.0010) 10.56 * (4.327) 46.04 *** (11.84) -1.118 (2.720) -30.48 *** (9.448) -.000 16.28 *** (1.659) -.0001 (.0056) -.0000 *** -6.649 (5.259) -1.101 (.6480) -36.50 *** (10.21) -42.04 (24.97) 1.212 (7.968).0036 *** (.0010).0113 *** (.0009) 10.45 * (4.186) 24.12 * (11.59) -.9624 (2.716) -30.85 *** (9.434) -.000 16.32 *** (1.656) -.0019 (.0056) -.0000 *** -6.552 (5.250) -1.123 (.6470) -35.90 *** (10.20) -43.97 (24.94) 3.553 (7.998).0050 *** (.0010).0111 *** (.0009) 10.14 * (4.181) -.0597 ** (.0211) 24.26 * (11.56) -.8620 (2.719) -28.34 ** (9.479) -.000 17.22 *** (1.702) -.0002 (.0056) -.0000 *** -6.824 (5.253) -1.120 (.6473) -34.16 *** (10.25) -46.39 (25.01).3992 (7.966).0037 *** (.0010).0109 *** (.0009) 10.50 * (4.181).0191 * (.0079) 19.87 (11.71) -1.032 (2.718) -28.09 ** (9.498) -.000 16.18 *** (1.658) -.0013 (.0056) -.0000 *** -6.222 (5.257) -1.077 (.6457) -34.03 *** (10.26) -46.85 (25.04) 1.110 (7.960).0029 ** (.0010).0113 *** (.0010) 8.663 * (4.256).0150 * (.0066) 21.25 (11.65) -1.198 (2.662) -29.23 ** (9.247) -.000 12.83 *** (1.661).0009 (.0055) -.0000 ** -10.66* (5.162) -.9259 (.6344) -36.88 *** (9.994) -34.50 (24.45) 1.879 (7.798).0036 *** (.0010).0062 *** (.0010) 6.856 (4.113).3365 *** (.0340) 28.01 * (11.35) -.3057 (2.634) -21.26 * (9.257) -.000 14.45 *** (1.664) -.0018 (.0055) -.0000 *** -11.69 * (5.110) -.9331 (.6272) -27.88 ** (-9.984) -50.48* (24.31) 1.813 (7.760).0044 *** (.0012).0038 *** (.0011) 4.172 (4.140) -.0527 (.0209).0518 *** (.0081).0135 * (.0065).4223 *** (.0359) 14.96 (11.42) : p<.1, *p<.05, **p<.01, ***p<.001.
産業關係硏究제 27 권제 1 호, ( 5, 6)..,,....,, (, 2003; Budros, 1999; Cascio, 1993; Worrel et al., 1991)..,.,..,, ( ),.,..
기업다운사이징에대한전략적접근 : 복수의성과목표추구와다운사이징의사결정 ( 정대훈 신동엽 ), (Peng & Heath, 1996)., (Short & Palmer, 2008).,., (Chen, 2008; Cyert & March, 1963; Desai, 2008; Greve, 2003).,..,.,.,.,,.,...
産業關係硏究제 27 권제 1 호,?.,.,,,.,.,,..,., (Cyert & March, 1963; Simon, 1959), (Ethiraj & Levinthal, 2009).,.,.,.,.., (, 2005)
기업다운사이징에대한전략적접근 : 복수의성과목표추구와다운사이징의사결정 ( 정대훈 신동엽 )..,,. Love Kraatz(2009) (firm reputation)..,.,., (corporate restructuring). (Budros, 1999)..,..,., (, 2003).,.,,.
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産業關係硏究제 27 권제 1 호 abstract The Pursuit of Multiple Goals and Corporate Downsizing: A Strategic Approach In this paper, we investigate the determinants of corporate downsizing. Downsizing is one of the typical types of organizational change, which firms faced with a crisis put on priority. Although there has been a substantial body of research analyzing firms downsizing decision in terms of economic perspective, the existing researches have excluded the possibility of that firms economic incentive can deter downsizing in certain situations. Furthermore, these studies have not taken it into consideration that firms economic incentive can change by interactions with environments. In this regard, we suggest a theoretical model applying the view of the organizational learning theory that consider organizational change as a result of search activity depending on performance feedback. In this view, we predict that firms downsizing decision depends on their own performance feedback. Specifically, we argue that firms downsize to achieve two goals - growth and profitability - respectively and exhibit different patterns of downsizing up to the relationship between the two goals. To empirically test our hypotheses, we use longitudinal data of Korean shipbuilding firms during 2000-2014. Our results suggest that the firm size intensifies downsizing when a firm achieves above aspiration level, while the firm profitability intensifies downsizing when under aspiration level. Moreover, we found that the extent to which the expansion of a firm s downsizing scale according to the size of the firm is enlarged only when its financial objectives are satisfied, and that a firm not financially successful expands the scale of the downsizing regardless of the size of the firm. Theoretical contributions and practical implications as well as future research agenda are discussed. Keywords : Corporate Downsizing, Organizational Learning Theory, Performance Feedback, Multiple Goals, Korean Shipbuilding Industry