Relationship between innovativeness, quality, growth, profitability, and market value

• 成果类型: Article
• 署名作者: Cho, HJ; Pucik, V
• 署名单位: Samsung; International Institute for Management Development (IMD)
• 刊物名称: STRATEGIC MANAGEMENT JOURNAL
• ISSN/ISSBN: 0143-2095
• DOI: 10.1002/smj.461
• 发表日期: 2005
• 页码: 555-575
• 关键词: innovativeness; QUALITY; GROWTH; profitability; market value; mediation effect

摘要

The purpose of this study is to examine the relationship between innovativeness, quality, growth, profitability, and market value at the firm level. Building on concepts from a resource-based view of a firm and organizational learning, innovation and quality literature, we propose the innovativeness-quality-performance model, which describes how a firm's capability to balance innovativeness with quality drives growth and profitability, and in turn drives superior market value. Results of structural equation models indicate that (1) innovativeness mediates the relationship between quality and growth, (2) quality mediates the relationship between innovativeness and profitability, (3) both innovativeness and quality have mediation effects on market value, and (4) both growth and profitability have mediation effects on market value. Implications for theories and practices are discussed. Copyright (C) 2005 John Wiley & Sons, Ltd.