Success Catalyst or Hidden Impediment of Government Subsidy? Organizational Resources and Capabilities, Strategy, and Performance
Date Issued
2014
Date
2014
Author(s)
Yu, Shu-Huan
Abstract
This study attempts to investigate the relationships among organizational resources and capabilities, strategic choice, and firm performance. Focusing on the Industrial Technology Development Program (ITDP), a R&D subsidy program initiated by the Taiwanese government, we analyze the behavior of Taiwanese high-tech firms in the electronics and biotechnology industry. We examined the relationship between organizational resources and capabilities and the inclination of the strategic choice to participate in the ITDP, and evaluated their respective performance after controlling for endogeneity bias by implementing Heckman’s two-stage estimation procedure. The empirical study employs data from the Taiwan Economic Journal (TEJ), which provides timely verified financial data for all publicly listed companies in Taiwan. Our findings suggest that the tendency of the strategic choice to participate in government subsidized R&D project is strongly correlated with a firm’s absorptive capabilities. Furthermore, we conclude that, in general, firms that choose to participate in the ITDP and undertake government subsidized R&D projects outperform financially to those who do not participate, after controlling for endogeneity bias. Managerial implications were provided and discussed in detail, focusing on the importance of the absorptive capabilities of firms in the high-tech industry.
Subjects
組織資源
吸收能力
公司績效
政府補助
研究發展
業界科專
Type
thesis
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