최고경영자 및 최고경영진 역량이 기술혁신 역량 및 성과에 미치는 영향에 관한 실증연구

This paper examines how capabilities of CEOs and top executives affect technology-innovation capabilities and then how technology-innovation capabilities affect technology-innovation performance based on the upper echelons theory. It also examines whether top executives capabilities have a mediating effect on the relationship between CEO capabilities and technology-innovation capabilities. The contribution of this study is that it attempts empirical analysis based on the data collected through the technical credit assessment of W bank. The technical credit assessment of W Bank is conducted by credit analysis experts through an objective data collection and interviews with CEOs, executives, and employees of target firms over an average six-month period. This alleviated the problems of bias that may arise if interviewers respond directly on the questionnaires. Investment related to technological innovation is an important strategic act that determines a company’s long-term performance, but the nature of long-term investment may prevent the CEO from achieving performances within his or her term. Along with these nature of long-term investments, if a CEO is satisfied with his or her position as an owner (major shareholder), he or she will tend to avoid risky investment choices and consequently reduce the incentive to pursue innovative strategies. This hypothesis is called management entrenchment hypothesis and the empirical results of this study do not support management entrenchment hypothesis. The empirical results of this study show that CEOs and top executives of firms are actively pursuing innovation and are getting successful performance from technological innovation. Demographic characteristics such as degrees and work experience are also important for managers to improve their technological innovation capabilities, but technology management strategies such as management vision, technology commercialization, and communication strategies are more important. This means that CEOs need to approach strategically for innovation. In addition, the findings of this paper shows that close relationships such as blood ties, school ties, hometown ties and teamwork between the CEO and top management were found to be important factors influencing technological innovation capability. This result supports the literature of existing research that top management with close relationship acts as a positive function by making quick decision-making compared to top management with various backgrounds. Also, research shows it is important to have an organization in charge of technology development (technical development organization), such as company-affiliated research institutes and R&D departments, and operate them efficiently. The most important factor in technological innovation performance was the status of possession of intellectual property rights, which seems legally protect firm's profits. In addition, the findings of this paper suggest that top executives plays a mediating role between CEOs and technological innovation, indicating that it will be difficult to obtain meaningful results if research is focused only on either characteristics of CEOs or top executives. Therefore, if the study focuses on the competence of the top management, the competence of the CEO must be considered together.