기업의 자원조율활동이 재무성과에 미치는 효과에 관한 연구 : 한국물류기업을 중심으로
A Study on the Effect of Resource Orchestration Activities for Financial Performance : Focused on Korean Logistic Firms
Resource orchestration(RO) theory shows that a company can improve its performance by obtaining resources that may expect performance exceeding the opportunity cost through a series of operations, or by allocating resources efficiently. The firm's SG & A expenses are financial indicators that are related to the RO activities such as advertising expenses, R & D expenditure, and investment in human resources. By using panel data, our study examines the effect of SG & A expenses on financial performance for Korean logistics companies that have to cope with the volatile external environment such as the fourth industrial revolution. Panel analysis shows that the SG & A expenditure which is proxied by RO has a statistically significant relationship with the financial performance excluding the ROE, but the effect is negative. Because RO activities are recognized as costs that should be deducted from the financial performance. In the future research, it is necessary that research model that is taken account of time lag investigate to analyze the effect of the RO activities on firm’s performance.