외국인 소유권이 생산성에 미치는 영향: 한국 중소기업을 중심으로

• 영문명: The Effect of Foreign Ownership on Productivity: A Focus on Korean Small and Medium-Sized Enterprises
• 발행기관: 한국무역연구원
• 저자명: 조정환(Jung-Hwan Cho)
• 간행물 정보: 『무역연구』제21권 제3호, 181~196쪽, 전체 16쪽
• 주제분류: 경제경영 > 무역학
• 파일형태: PDF
• 발행일자: 2025.06.30

국문 초록

Purpose - This study analyzes the impact of foreign ownership on productivity using data from Korean firms. It compares the productivity level of SMEs to that of all individual firms, and tests whether there is an effect of enhanced productivity through the expansion of SME foreign ownership. Design/Methodology/Approach - This study uses data from 1,514 firms from 2008 to 2022, and identifies 895 SMEs based on total assets and sales. This study constructs unbalanced panel data and analyzes it using a fixed-effects model to affect firm productivity. Findings - This study found that the productivity of SMEs decreased compared to that of all individual firms during the analysis period. However, the interaction term between the foreign ownership ratio and the dummy variable of SMEs had a statistically significant positive sign. In addition, the analysis results limited to SMEs also showed that the foreign ownership ratio variable had a statistically significant positive sign. These results indicate that SMEs can expect productivity improvements through an expansion of foreign ownership. Research Implications - The results show the expansion and concentration of foreign ownership can be considered a way to improve the productivity of SMEs. This is because foreign investment in SMEs can alleviate the agency problem caused by the separation of ownership and management, and perform monitoring functions that limit the pursuit of private interests by management and insiders. To induce a long-term strategic foreign investment, it is necessary to create a favorable domestic investment environment.

목차

Ⅰ. 서론

Ⅱ. 선행연구

Ⅲ. 분석 모형과 자료

Ⅳ. 실증분석 결과

Ⅴ. 결론

References

키워드

Foreign Ownership Productivity Small and Medium-Sized Enterprises (SMEs)