شناسایی تأثیر ایجاد کسب و کارهای زایشی بر عملکرد مالی شرکت های پذیرفته شده در بورس اوراق بهادار تهران

نوع مقاله : مقاله پژوهشی

نویسندگان

1 دانش آموخته کارآفرینی، تهران ایران

2 دانشکده کارآفرینی، دانشگاه تهران، تهران، ایران

3 استادیار دانشکده کارآفرینی، دانشگاه تهران، تهران، ایران

چکیده

در این تحقیق تأثیر ایجاد کسب و کارهای زایشی بر عملکرد مالی شرکت‌های پذیرفته شده در بورس اوراق بهادار مورد بررسی قرار گرفت. به منظور سنجش کارآفرینی سازمانی از دو مؤلفه سرمایه‌گذاری در خطوط جدید تولید در قالب شرکت‌های زایشی درون سازمانی و مشارکت با شرکای تجاری در قالب شرکت زایشی مشارکتی و برای سنجش عملکرد مالی از بازده دارایی شرکت‌ها استفاده شده است. تجزیه و تحلیل داده‌ها از برازش مدل‌های رگرسیون داده‌های تلفیقی استفاده شده و نتایج حاصل از آزمون فرضیات نشان داد که فعالیت‌های کارآفرینانه سازمانی در قالب سرمایه‌گذاری در خطوط جدید تولید و مشارکت با شرکای تجاری در راستای سرمایه گذاری‌های مشترک در تولید محصولات جدید تأثیر مستقیم و معناداری بر روی بازده دارایی شرکت‌ها دارند. از این رو ایجاد کسب و کارهای زایشی درونی و مشارکتی با عملکرد مالی شرکت‌ها رابطه مستقیم و معناداری داشته است.

کلیدواژه‌ها

عنوان مقاله [English]

Identifying the Impact of Corporate Venturing on the Financial Performance of Companies Listed in Tehran Stock Exchange

نویسندگان [English]

  • Mohammad Hasan Torabi 1
  • Kamal Sakhdari 2
  • Mohammad Azizi 3
1 PhD in Entrepreneurship, Tehran, Iran
2 Faculty of Entrepreneurship, University of Tehran
3 Faculty of Entrepreneurship, University of Tehran
چکیده [English]

In this study, the impact of corporate venturing on the financial performance of companies listed in Tehran Stock Exchange was investigated. In order to measure corporate venturing, two components of investing in new product lines as a proxy internal corporate venturing and partnering with business partners in venture creation as a proxy for external venturing and asset return ratio as a proxy for measuring financial performance were used in this study. The results of hypothesis testing using regression analysis show that both internal and external venturing positively impact financial performance, and hence financial performance can be enhanced through venturing activities.

کلیدواژه‌ها [English]

  • Corporate entrepreneurship
  • corporate venturing
  • multi-business companies
  • financial performance

مراجع

  • ابراهیمی، زهرا (1396). بررسی اثرات کارآفرینی سازمانی بر عملکرد شرکت(مورد مطالعه: هتل‌های 4و5 ستاره شهر اصفهان)، کارشناسی ارشد، موسسه آموزش عالی امین.
  • حریری، حمیدرضا (1397). تأثیر کارآفرینی و قابلیت‌های بازاریابی بر بهبود عملکرد شرکت با نقش میانجی جهت‌گیری برند و ارزش برند، کارشناسی ارشد، دانشگاه آزاد اسلامی واحد صفادشت.
  • ظریفیان، محمدرضا (1392). ارزیابی تأثیر کارآفرینی استراتژیک بر عملکرد شرکت، کارشناسی ارشد، دانشگاه علامه طباطبائی، دانشکده مدیریت و حسابداری.
  • عرفان‌فر، حسین (1392). بررسی تأثیر مؤلفه‌های کارآفرینی استراتژیک بر عملکرد شرکتهای خانوادگی، کارشناسی ارشد، دانشگاه آزاد اسلامی واحد یزد، دانشکده ادبیات و علوم انسانی.
  • عنصری ارغور آباد، فریده (1396). بررسی رابطه جهت گیری کارآفرینانه و عملکرد شرکت با تأکید بر نقش واسطه‌ای کارآفرینی استراتژیک، کارشناسی ارشد، دانشگاه پیام نور استان البرز، مرکز پیام نور کرج.
  • Ana Maria Bojica & Maria Del Mar Fuentes (2011). “Knowledge acquisition and corporate entrepreneurship: Insight from Spanish SMEs in the ICT sector”, Journal of World Business, no. 47, pp. 397-408.
  • Antoncic, B., & Hisrich, R. D. (2004). Corporate entrepreneurship contingencies and organizational wealth creation. Journal of Management Development, 23(6), 518-550.
  • Barringer, B. R., & Bluedorn, A. C. (1999) The relationship between corporate entrepreneurship and strategic management. Strategic Management Journal, 20, 421-444.
  • Birchall, J. (2013). The potential of co-operatives during the current recession: Theorizing comparative advantage. Journal of Entrepreneurial and Organizational Diversity, 2(1), 1–22.
  • Birkinshaw, J. (1997). Entrepreneurship in multinational corporations: The characteristics of subsidiary initiatives. Strategic Management Journal, 207–229.
  • Block, Z., & MacMillan, I. C. (1993). Corporate Venturing: Creating New Businesses With in the Firm. Harvard Business School Press. Retrieved from https://books.google.com/books?id=5rtswoFm3lEC
  • Bulut, C., & Yilmaz, C. (2008). Innovative performance impacts of corporate entrepreneurship: an empirical research in Turkey. Proceedings of Academy of Innovation and Entrepreneurship Conference, Beijing, China, pp. 414-417.
  • Chell, E. (2007). Social enterprise and entrepreneurship towards a convergent theory of the entrepreneurial process. International Small Business Journal, 25(1), 5–26.
  • Covin, J. G., & Slevin, D. P. (1986). The development and testing of an organization-level entrepreneurship scale. In R., Ronstadt, J. A. Hornaday & K. H. Vesper (Eds.), Frontiers of Entrepreneurship Research (pp. 628-639). Wellesley, MA: Babson College.
  • Covin, J. G., & Slevin, D. P. (1989). Strategic management of small firms in hostile and benign environments. Strategic Management Journal, 10, 75-87.
  • Covin, J. G., & Slevin, D. P. (1991). A conceptual model of entrepreneurship as firm behavior. Entrepreneurship: Critical Perspectives on Business and Management, 3, 5–28.
  • Covin, J. G., & Miles, M. P. (1999). Corporate entrepreneurship and the pursuit of competitive advantage. Entrepreneurship: Theory and Practice, 23(3), 47.
  • Covin, J. G., Garrett, R. P., Kuratko, D. F., & Shepherd, D. A. (2015). Value proposition evolution and the performance of internal corporate ventures. Journal of Business Venturing, 30(5), 749–774. https://doi.org/10.1016/j.jbusvent.2014.11.002
  • Dai W., Liu Y (2015). Local vs. non-local institutional embeddedness, corporate entrepreneurship, and firm performance in a transitional economy, Asian Journal of Technology Innovation.
  • Danişman, A., & Erkocaoğlan, E. (2007). Corporate entrepreneurship and firm performance: a research study on İstanbul stock exchange firms. İktisat İşletme ve Finans, 22(260), 80-101.
  • Davidsson, P. (2016). Researching entrepreneurship. New York: Springer
  • Dess, G. G., Ireland, R. D., Zahra, S. A., Floyd, S. W., Janney, J. J., & Lane, P. J. (2003). Emerging issues in corporate entrepreneurship. Journal of Management, 29(3), 351-378.
  • Elia, G., & Margherita, A. (2018). Assessing the Maturity of Crowdventuring for Corporate Entrepreneurship. Business Horizon, 61(2), 271- 283
  • Fiş, A. M., & Çetindamar, D. (2009). The missing link between firm-level entrepreneurship and performance. 9th International Entrepreneurship Forum, İstanbul, 1-12.
  • Fisac, R., Moreno, A., Mataix, C., & Palacios, M. (2011). La empresa social: revisión de conceptos y modelo para el análisis organizativo. Revista Española del Tercer Sector, 41–66.
  • Gianluca, Elia, AlessandroMargherita(2018) Assessing the maturity of crowdventuring for corporate entrepreneurship, Business Horizons,Volume 61, Issue 2, March–April 2018, Pages 271-283
  • Hayton, J. (2005). Competing in the new economy: The effect of intellectual capital on corporate entrepreneurship in high-technology new ventures. R & D Management, 35(2), 137-155.
  • Ireland, R. D., Hitt, M. A., & Sirmon, D. G. (2003). A model of strategic entrepreneurship: The construct and its dimensions. Journal of Management, 29(6), 963–989.
  • Kaya, N. (2006). The impact of human resource management practices and corporate entrepreneurship on firm performance: evidence from Turkish firms. International Journal of Human Resource Management, 17(12), 2074-2900.
  • Kearney, C., & Morris, M. H. (2015). Strategic renewal as a mediator of environmental effects on public sector performance. Small Business Economics, 45(2), 425-445
  • Kraus, S., & Kauranen, I. (2009). Strategic management and entrepreneurship: friends or foes? International Journal of Business Science and Applied Management, 4(1), 37-50.
  • Lumpkin, G. T., & Dess, G. G. (1996). Clarifying the entrepreneurial orientation construct and linking it to performance. Academy of Management Review, 21(1), 135-172.
  • Martin-Rojas R., Garcia V. j., Gonzalez-Alvarez M. N., (2019). Technological antecedents of entrepreneurship and its consequences for organizational performance, Technological Forecasting and Social Change, Vol. 147, pp. 22-35
  • Miller, D. (1983). The correlates of entrepreneurship in three types of firms. Management Science, 29(7), 770-791.
  • Morris, M. H., Kuratko, D. F., & Covin, J. G. (2010). Corporate entrepreneurship & innovation. Cengage Learning.
  • Palacios-Marqués D., Guijarro M., Myriam G., Alguacil Mari M. P., (2019). Social entrepreneurship and organizational performance: A study of the mediating role of distinctive competencies in marketing, Journal of Business Research, Vol. 101, pp. 426-432.
  • Pichot, G. III. (1985). Intrapreneuring. New York, NY: Harper & Row.
  • Piñeiro-Chous J., López-Cabarcos A., MaríaRomero N., MaríaPérez-Pico C., (2019). Innovation, entrepreneurship and knowledge in the business scientific field: Mapping the research front, Journal of Business Research, Available online 23 December 2019, In Press, Corrected ProofWhat are Corrected Proof articles? https://doi.org/10.1016/j.jbusres.2019.11.045
  • Rajshekhar, G. J., Todd, P. R., Johnston, W. J., & Granot, E. (2012). Entrepreneurship, muddling through, and indian internet-neabled SMEs. Journal of Business Research, 65, 740-744.
  • Sakhdari K., Farsi J.Y(2016). Business partners and corporate entrepreneurship in developing countries, International Journal of Management and Enterprise Development, 11(2), 24–38.
  • Sharma, P., & Chrisman, S. J. J. (1999). Toward a reconciliation of the definitional issues in the field of corporate entrepreneurship. Entrepreneurship Theory & Practice, 23(3), 11–27.
  • Schildt, H. A., Maula, M. V. J., & Keil, T. (2005). Explorative and exploitative learning from external corporate ventures. Entrepreneurship Theory and Practice, 29(4), 493–515.
  • Simsek, Z., Lubatkin, M. H., Veiga, J. F., & Dino, R. N. (2009). The role of an entrepreneurially alert information system in promoting corporate entrepreneurship. Journal of business research, 62, 810-817.
  • Sorrentino, M., & Williams, M. L. (1995). Relatedness and corporate venturing: Does it really matter? Journal of Business Venturing, 10(1), 59–73.
  • Thornhill, S., & Amit, R. (2001). A dynamic perspective of internal fit in corporate venturing. Journal of Business Venturing, 16(1), 25–50. https://doi.org/http://dx.doi.org/10.1016/S0883-9026 (99)00040-3
  • Wiklund, J., & Shepherd, D. (2005). Entrepreneurial orientation and small business performance: a configurational approach. Journal of Business Venturing, 20(1), 71-89.
  • Yiu, D. W., Lau, C., & Bruton, G. D. (2007). International venturing by emerging economy firms: the effects of firm capabilities, home country networks, and corporate entrepreneurship. Journal of International Business Studies, 38(4), 519–540.
  • Yu, W., Ramanathan, R., & Nath, P. (2014). The impacts of marketing and operations capabilities on financial performance in the UK retail sector: A resource-based perspective. Industrial Marketing Management, 43, 25–31.
  • Zahra, S. A., & Covin, J. G. (1995). Contextual influences on the corporate entrepreneurship-performance relationship: a longitudinal analysis. Journal of Business Venturing, 10(1), 43-58.
  • Zahra, S. A. (1996). Goverance, ownership, and corporate entrepreneurship: The moderating impact of industry technological opportunities. Academy of Management Journal, 39(6), 1713–1735.
  • Zahra, S. A., Neubaum, D. O., & Huse, M. (2000). Entrepreneurship in medium-size companies: Exploring the effects of ownership and governance systems. Journal of Management, 26(5), 947–976.
  • Zahra, S. A., Neck, H. M., & Kelley, D. J. (2004). International corporate entrepreneurship and the evolution of organizational competence: A knowledge-based perspective. In Advances in entrepreneurship, firm emergence and growth (pp. 145–171). Emerald Group Publishing Limited

فایل ها

اشتراک گذاری

ارجاع به این مقاله

آمار