역싞쮹웳튵돉뎤쓚짺싛벰웤쿖쪵틢틥[쓚죝쳡튪]역싞쮹듓웳튵쯹펵폐뗄맜샭풴뗄뷇뛈,첽쳖쇋웳튵돉뎤뗄쓚짺믺훆,늢횸돶쇋퓚웳튵돉뎤맽돌훐뿉쓜돶쿖뗄역싞쮹킧펦ꆣ역싞쮹뗄퇐뺿뷡싛뛔폚횸떼웳튵엠폽ퟩ횯쓜솦ꆢ돖탸뺺헹폅쫆뻟폐훘듳뗄쿖쪵횸떼틢틥ꆣ[맘ꆡ볼ꆡ듊]역싞쮹;웳튵돉뎤;맜샭풴[훐춼럖샠뫅]F270ꆡ[컄쿗뇪쪶싫]Aꆡ[컄헂뇠뫅]1000-6249(2005)01-0077-03ꆡꆡ역싞쮹맘폚웳튵돉뎤뗄뺭뗤샭싛캪틔쿂벸룶컊쳢ퟣ뿉달뻵탔ꆢ폐뚯믺탔벰폐쓜솦뗈죽룶쳵볾,횻폐헢쳡릩쇋듰낸(Pitelis뫍Wahl,1998):(1)쪲쎴틲쯘퇹,듋짺닺믺믡닅닺짺삩헅,늢틲듋듙뷸웳튵돉뎤ꆣ퓚싟벭짏쓜ퟮ폐킧뗘뷢쫍웳튵뗄돉뎤쯙뛈?(2)캪쪲뛸헢죽룶쳵볾폖쫜떽틔쿂틲쯘뗄펰쿬:(1)뻟쳥쪱볤쎴헢킩틲쯘쫇훘튪뗄?(3)헢킩튪쯘쫇죧뫎쿠뮥ퟷ폃폫뿕볤쿂뗄쳘뚨쟩뺰,쯼훆풼쇋얼좻듦퓚뗄풴벯뫏뗄?춨맽쾵춳뗘첽쳖역싞쮹뗄웳튵돉뎤쓚짺싛뛔폚뷸벰쒳튻룶룸뚨뗄쪱볤쿂쯹쓜쳡릩뗄럾컱(늻춬풴쯹튻늽짮죫퇐뺿웳튵샭싛,벰뛔폚횸떼웳튵뗄쪵볹뚼뻟쳡릩뗄뿉샻폃뗄짺닺솦뫍럾컱뿏뚨쫇늻춬뗄);(2)폐쪮럖훘튪뗄틢틥ꆣ풴쯹잶죫뗄훆뛈뮷뺳,웳튵뗄맜샭ퟩ횯,냼삨ퟩ횯튻ꆢ역싞쮹웳튵돉뎤쓚짺싛뗄믹놾쓚죝뷡릹ꆢ헾닟벰맦랶,헢킩쫇쟽뚯풴늿쫰뻶닟뗄럇뎣튻냣죏캪,퇐뺿웳튵돉뎤폐솽룶랽램:튻쫇룹뻝훘튪뗄ퟩ돉늿럖;(3)룶쳥럱뚨ꆢ펰쿬믲룄뇤짏쫶솽쒳튻쳘뚨맦쒣뗄폅쫆뫍쇓쫆뗄뻹뫢살뷢쫍;뛾쫇잿뗷룶맟솦뗄얬솦,폈웤쫇췪돉뇰죋쯹늻쓜췪돉뗄얬솦ꆣ돉뎤뗄맽돌볲뛸퇔횮,역싞쮹맘폚웳튵돉뎤쓚짺싛뗄믹놾뇤솿벰,붫맦쒣쫓ퟷ튻룶돖탸뺭펪훐뛠짙폐뗣얼좻탔뗄뷡맻ꆣ잰헟캪맦쒣램,뫳헟쫇돉뎤램ꆣ떫평폚룷뇤솿횮볤뗄맘쾵쳥쿖죧쿂(춼1)ꆣ잰헟쫇튻훖뺲첬뗄뻹뫢,뫳헟폖뫶쫓쇋죋샠뚯믺뫍쿂틢쪶뗄ퟷ폃,쯹틔뚼쫜떽역싞쮹뗄랴뛔ꆣ쯽죏캪ퟮ훘튪뗄쫇펦ힼ좷쟥돾뗘횪뗀ꆰ웳튵ꆱ떽뗗틢캶ퟅ쪲쎴ꆣ쯽쳡돶쇭튻훖웳튵돉뎤쒣탍,죏캪웳튵돉뎤붫틀삵폚죋샠뚯믺ꆪꆪꆪ퓚춨뎣쟩뿶쿂,틀삵폚짌죋뛔샻죳뗄ힷ쟳,웤훐죋뗄틢횾솦ꆢ뻶닟뫍뚯믺퓚듋맽돌훐웰쇋쪮럖훘튪뗄ퟷ폃;맜샭헟늻뷶쫜떽캪짺듦뛸햽뗄쟽뚯,튲쫜떽뇘탫춨맽탂뗄풴ퟩ뫏틔쪵쿖뒴퓬탔룯탂뗄쟽뚯ꆣ역싞쮹죏캪ퟩ돉웳튵뗄쫇뛀쳘뗄풴벯뫏,폈웤쫇쿖폐뗄죋솦풴뗄벯뫏ꆣ쯤좻튻룶ퟩ횯뗄짺닺뿉쓜듓춼훐뿉틔뾴돶,웳튵쫇쯦ퟅ짺닺탔믺믡뗄삩헅탔(p믲쫕쯵뛸돉뎤믲쿂붵뗄(A)ꆣ짺닺탔믺믡뗄믹놾쓚roductivepossibilities)ퟜ쫇쯦ퟅ폐폃뗄풴뗄쫽솿뫍훖샠뛸삩헅,떫ퟩ횯놾짭뗄돖탸뗄돉뎤퓲틀삵죝쫇횸쓇킩쓜캪쇋웳튵뗄샻틦뛸놻킭뗷뫍엤훃뗄풴폚웤짺닺믺믡(productiveopportunity),뛸늢늻쫇뇘럾컱(B),헢킩풴냼삨쓇킩뿉평웳튵볌돐뗄늿럖좻뗘쯦풴뗄믽샛뛸삩헅뗄ꆣ쯹캽짺닺탔믺믡뻍쫇웳(C)벰풴폚웳튵췢늿뮷뺳뗄폐폃뗄늿럖(Cꆯ)ꆣ역싞튵볒뫍맜샭헟늿쫰풴쪱쯹쓜뾴볻뗄ꆢ늢쟒풸틢ꆢ튲쮹쯹잿뗷뗄ퟮ쓜펰쿬짺닺탔믺믡뗄틲쯘쫇볌돐탔풴쓜릻닉좡탐뚯뗄뿉쓜탔ꆣ벴쪹퓚돉뎤훐뗄웳튵믽샛쇋뗄훊솿(C)뫍뺭펪ퟩ횯뗄쓽뻛솦(D)ꆣ튻쿮짺닺뿉튻룶쯼쯹쓜ힷ쟳뗄짺닺뿉쓜탔뗄삩헅놳뺰,떫튲튪싺쓜탔뗄럾컱냼삨쇋웳튵믱좡믲믽샛뗄쎿튻쿮풴ꆣ퓚
튻뚨돌뛈짏,폐킩럾컱뗄벯뫏늢늻탨튪믲늻쓜폃틔횧춼훐AA쟺쿟뗄킱싊캪헽뇭쪾헐울탂뗄뺭샭죋풱돖떱잰뗄퓋ퟷ,떫평폚쯼쏇뗄볌돐탔뫍슷뺶틀삵탔,듙뷸쇋웳튵삩헅,떫쫇평폚탂뷸살뗄풱릤쯹탨뗄엠통쯼쏇뛔탎돉뫍퓶볓캴살돉뎤뗄뿉쓜탔쫇폐샻뗄ꆣ좻뛸뫍헻뫏튪뮨쪱볤뫍뺫솦,쯹틔뇟볊뗄삩헅믡풽살풽횻폐퓚쯼쏇쓜놻랢쿖늢퓚웳튵뗄뺭펪ퟩ횯놳뺰쿂쫜떽킡,틔훁킱싊붥붥쿂붵;X뗣뇭쪾벴쪹퓚룸뚨쫽솿뗄듙뷸뗄랶캧쓚(D),헢킩탂퓶볓뗄돉뎤뿉쓜탔(B)뺭샭죋풱뗄쟩뿶쿂,튻뚨뗄삩헅튲쫇뿉틔쪵쿖뗄;닅삩헅캪웳튵짺닺탔믺믡ꆣ웳튵뺭펪ퟩ횯뗄쓽뻛솦BB쟺쿟뇭쪾,뺭샭죋풱쫽솿뗄퓶뎤붫쟷쿲폚붵뗍웳ꆪꆪꆪ벴웳튵풴놻ퟩ횯뮯쇋틔쳡릩뮥늹탔럾컱뗄돌뛈튵뗄돉뎤쯙뛈,헢훖펰쿬퓚틽죫짙솿뗄탂뺭샭쪱늻쏷ꆪꆪꆪ쯼랴펳쇋웳튵맜샭ퟩ횯믺릹ꆢ볛횵맛ꆢ맦퓲ꆢ벤쿔,쫇뿉틔뫶싔뗄,떫쫇떱틽죫탂뺭샭죋쫽폫풭살뗄샸뗈룷훖풴튻훂뗘폫웳튵풱릤뗄쓜솦솬퓚튻웰늢듦뺭샭죋쫽뗄뇈훘짏짽뗄쪱뫲,풭폐뺭샭죋풱폃폚삩헅폚풱릤춷쓔훐뗄쓜솦ꆣ늢쟒헢훖뺭펪쓽뻛솦훷튪쫇풴뗄쪱볤믡놻룼뛠뗘럖샫돶좥,듓뛸쪹웳튵쫜떽쯰몦,폚웳튵ퟔ짭쯹뒦뗄훆뛈놳뺰ꆣ폚쫇쯼돶쿖볓쯙쿂붵뗄쟷쫆ꆣ춨맽붫AA복좥BB뻍역싞쮹뎫떼웳튵돉뎤뗄쓚짺싛,떫쯽늢쎻폐뫶쫓뗃떽쪵볊웳튵뗄돉뎤쟺쿟CCꆣ떱웳튵ퟮ폅뗄뺭샭죋뮷뺳뗄ퟷ폃,뛸쫇퇏뷷뗘횸돶웳튵돉뎤ퟮ폐뿉쓜쫜떽췢늿뮷뺳뗄펰쿬ꆣ죧뛔풴뫍럾컱뗄뺺헹붫룸웳튵듸살톹솦,헢뻍듙쪹쯼쏇좥ힷ쟳쓇킩췢퓚폚웳튵뗄짺닺탔믺믡,믲웈쪹쯼쏇쏦쇙풴틆떽룼뻟폐짺닺탔뗄췢늿믺믡(Bꆯ)ꆣ쯹틔웳튵믽샛풴뺺헹뗄톹솦펰쿬쇋웳튵짺닺탔믺믡뗄탔훊벰웳튵돉뎤뗄랽쿲ꆣ죧킡맦쒣웳튵뫃쿱룼죝틗룐쫜떽쯼쏇쫜떽뺺헹풴뗄톹솦,틲캪헢킩풴뗄늻춬엤훃쿞훆쇋쯼쏇믱좡풴(Cꆯ),쯹틔헢뻍늻뷶펰쿬쇋웤돉뎤랽쿲뮹쿞훆쯼뗄돉뎤잱솦,떫쯦ퟅ웳튵돉뎤뗃룼듳늢믽샛쇋돤ퟣ뗄풱뗄퓶뎤쯙뛈캪n3쪱,웳튵ퟮ듳쯙뛈뒦폚g3뗣ꆣ풴듦솿틔쳡릩뛠룶돉뎤슷뺶,헢룶펰쿬붫복죵,틲캪역싞쮹죏캪맜샭풴뗄럇뺭볃늻쫇튻룶뷶폫맦쒣폐맘믽샛뗄풴폖듙쪹웳튵룼뻟폐쓜솦틔뛔뢶췢뷧뺺헹뗄뺲첬쿖쿳,뛸쫇튻룶뚯첬뗄ꆢ뛌퓝뗄컊쳢,룼뛠뗘풴뗄톹솦ꆢ쳡룟믺믡,뷸뛸퓶볓탭뛠탂뗄랽쿲ꆣ폫돉뎤쯙뛈폐맘,늢쟒죧맻웳튵춣횹돉뎤퓲ퟮ훕붫쿻평폚웳튵돉뎤쫇웳튵맜샭퓰죎훐뗄튻룶냩쯦탔뗄쪧ꆣ쯤좻맜샭풴쫇쿞훆웳튵돉뎤뗄훷튪틲쯘,떫뮹뷡맻,쓇쎴쯼뗄돉뎤뇘탫춨맽풭살뗄짺닺뿉쓜탔폫탂폐웤쯻틲쯘ꆣ죧뛠풪뮯맽돌늢늻쫇컞돉놾뗄:뷸죫탂뗄짺닺뿉쓜탔뗄돉릦뷡뫏맽돌살쪵쿖ꆣ쯦ퟅ웳튵돉쫐뎡탨튪붫듳솿뗄돉놾뮨퓚퇐뺿뫍풭쿈뗄쫐뎡펪쿺뎤,웳튵뗄짺닺뿉쓜탔붫뇈짺닺믺믡룼듳룼뿬뗘삩훐,뛸쟒죧맻웳튵늻뗃늻붨솢탂뗄짺닺믲펪쿺믹뗘,헅,웳튵믽샛뗄풴듦솿뾪쪼떣뢺웰붫웳튵뗄ꆰ쿖듦쯹틔퓚뾪쪼쪱쯼뗄돉놾뻍뇈웤뛔쫖룼룟,횱떽듓탂뗄뗄맜샭풴ꆱ뇤떽ꆰ캬돖ퟩ횯쓽뻛솦ꆱ뗄퓰죎ꆣ짺쇬폲믱뗃쇋뺭퇩;뛔닆컱풴뗄듳솿탨쟳튲탭뇈욽뎣닺뿉쓜탔폫웤쯹샻폃뗄믺믡횮볤뗄닮뻠뗄듳킡좡뻶폚룼늻샻,틲캪튪뿋럾듻뿮죋쯹룐횪뗄룼룟뗄럧쿕ꆣ떫뮷뺳쯹뢳폨뗄풴,돽럇웳튵쓜릻톸쯙뗷헻ퟩ횯쯹펵쯽죔뻉죏캪맜샭풴컊쳢닅쫇ퟮ룹놾뗄,늢쟒죏캪헢폐뗄쓽뻛솦틔쫊펦삩헅뗄뿉쓜탔,럱퓲쯼늻쓜돖탸삩킩틲쯘훐뗄쒳튻늿럖뫜쏷쿔뗘쫇맜샭뗄쪧냜ꆣ헅,폈웤쫇퓚튻룶폐탭뛠믺믡뗄뮷뺳훐,평폚웤쯻웳역싞쮹킧펦폐킧뗘뷢쫍쇋웳튵뗄쿖쪵맦쒣뗄쓑튵룼룟짺닺솦뗘ힷ쟳짺닺뿉쓜탔,늢뺺헹풴뫍짺닺쳢ꆣ쯤좻웳튵듦퓚튻룶돖탸뗄믘놨,떫듋돖탸탔횻폐탔믺믡,헢쪱웳튵뻍룼볓쓑틔삩헅쇋ꆣ폚쫇캪쇋쪹웳퓚쯹폐춶죫췪좫뗘쫊펦쒳튻쳘뚨맦쒣쪱닅뿉쪵쿖,헢튵뗄짺닺탔믺믡쓜폫짺닺뿉쓜탔쿠엤펦,쯦ퟅ웳튵돉퓚뛌웚쫇늻뿉쓜뗄,틲캪쒳킩춶죫쓑틔퓚뛌웚쓚뗃틔뎤,뻍뇘탫뛔맜샭뷸탐훘탂ퟩ횯,럱퓲헢킩뿉쓜탔붫룄뇤,늢쟒웳튵돉뎤풽뿬,춶죫욷뷡릹퓲풽쓑틔쫊쇷쿲웳튵췢늿뗄닎폫헟(Bꆯ)ꆣ펦ꆣ쯹틔튻룶웳튵늻믡쿱쯼풭놾쯹짨쿫뗄쓇퇹돉뎤뗃뛾ꆢ역싞쮹킧펦쓇쎴뿬,틲캪ퟜ듦퓚튻룶냩쯦뿬쯙돉뎤뛸뗷쫊뗄돉퓚역싞쮹뗄샭싛훐,웳튵돉뎤뗄쯙뛈ퟜ쳥짏쫇평놾ꆣ맜샭뗄훊솿벰웤뛔캴살볆뮮뗄쓜솦쯹뻶뚨뗄,맜샭쫇죽ꆢ역싞쮹샭싛뗄쿖쪵횸떼틢틥돉뎤맽돌뗄볓쯙웷튲쫇훆뚯웷,쯹틔퓚웳튵뗄돉뎤맽역싞쮹뗄탭뛠맛뗣쫇뫜폐뒴퓬탔뗄,뛔폚횸떼웳돌훐폐튻룶맜샭뗄풼쫸,돆횮캪ꆰ역싞쮹킧펦ꆱ믲튵뗄쪵볹,폈웤쫇뛔폚쳡룟웳튵뗄돖탸뺺헹폅쫆,튲ꆰ역싞쮹뚨샭ꆱ(Marris,1964,P114),헢틢캶ퟅ퓚뻟폐쪮럖훘튪뗄횸떼틢틥ꆣ튻룶웚볤쓜뿬쯙뗘돉뎤뗄웳튵쟷폚퓚쿂튻룶웚볤룼싽쫗쿈,헽평폚웳튵뗄돉뎤쫇믹폚닮틬뮯뗄풴?쯙뗘돉뎤(춼2)ꆣ뢳뗄ꆰ폅풽쓜솦ꆱ,헢뻍틢캶ퟅ웳튵튪퓚쫐뎡짏좡뗃ꆡ78NO101ꆡ2005ꆡ쓏랽뺭볃ꆡNANFANGJINGJI
돖탸뗄뺺헹폅쫆뻍쫆뇘볓잿뛔듋쓜솦뗄엠폽,붨솢튻풴ꆢ쓜솦뗄쮫훘킧펦,튻랽쏦쮵쏷쇋퓚쓜솦엠폽맽룶뻟폐쓽뻛솦뗄ꆰ맜샭뿇(managerialshell)ꆱ,늢퓚돌훐풴룼쳦뗄뇘튪탔ꆢ뒴탂뗄훘튪탔,쇭튻랽쏦튲듋ꆰ뿇ꆱ훐,뾪랢돶뛀쳘뗄룶쳥놾뫍췅뛓놾ꆣ떫쮵쏷쇋헢훖룼쳦뗄맽돌늻쓜맽폚욵랱,뛸쫇폐튻룶ퟮ쓜솦뗄엠폽쫇튻룶볨쓑뗄맽돌,웤튻쫇틲캪쓜솦놾짭병뗣ꆣ헢튲뻍튪뷨훺웳튵볒뗄에뛏쓜솦,뛔풴뗄돉뻟폐튻뚨뗄룕탔ꆢ뛨탔,뿋럾쓜솦뗄룕탔뫍뛨탔쫇튻놾폫쫕틦뷸탐뇈뷏ꆣ뇈죧Intel릫쮾ꆢ춨폃뗧웷뗈릫룶돖탸뗄릤ퟷ,쯹틔벴쪹퓚떱잰뗄뫋탄풴뮹죔좻뫜쮾,쯻쏇퓚톡퓱룟닣맜샭헟믲CEO볌돐헟쪱쫇뇘탫뫃뗘랢믓ퟅퟷ폃쪱,튲펦룃뾪쪼쯑쯷ꆢ뾪랢탂뗄뫋탄뺭맽튻룶뎤쪱볤뗄뾼달ꆢ붻쇷뗄,헢퇹닅폐뿉쓜쇋뷢풴ꆣ웳튵ퟩ횯돽쇋늻뛏뗘쳴햽떱잰뗄랶쪽,뇰컞톡뫲톡헟(ힼ웳튵볒)뗄쓜솦ꆢ욷훊뗈룶쳥쳘헷뫍쓜솦퓱(Leonard-Barton,1992)ꆣ웤뛾쫇평폚웳튵쓚늿쯹뿉쓜룸웳튵듸살뗄쫕틦,틔벰뿉쓜퓬돉뗄쯰쪧뫍뚯쓜솦뗄엠폽쫇튻룶뚯첬뗄맽돌,튪쟳뷸탐뒴퓬탔웆떴,붫쓜솦룼쳦뗄럧쿕붵뗍떽ퟮ뗍뗄쮮욽ꆣ뮵,떫춬쪱튲펦룃힢틢떽,헢훖웆뮵쫇튪뢶돶듺볛뗄ퟮ뫳,웳튵볒틔벰룟닣맜샭헟쫇럱쓜릻벰쪱뗘붫(Teece뗈,1997),죧살ퟔ풱릤뗄뗖뒥뗈ꆣ퓚ퟩ횯짺닺탔믺믡뇤돉캪웳튵돉뎤뗄뚯솦,웤룹풴뮹퓚폚풴ꆢ쓜솦뗄퇝뷸맽돌횮훐,쓜솦뗄놣쇴폫웆뮵횮볤쪱뺭볃뮷뺳훐듦퓚ퟣ릻뗄짺닺뿉쓜탔ꆣ튻킩맺볒뫍뗘쟸쪱듦퓚돥춻,탭뛠낸샽틑뺭뇭쏷,뇤룯뛔웳튵뛸퇔췹죧틢듳샻ꆢ컒맺훩붭죽뷇훞뫍뎤붭죽뷇훞뗈쟸폲뗄뺭췹튲쫇훂쏼뗄(Christenson,1997)ꆣ볃쓜릻뗃틔뿬쯙랢햹,웤훷튪풭틲퓚폚ꆰ췸싧뺭볃ꆱ웤듎,평폚웳튵쓚늿쓜솦뗄탎돉뻟폐볌돐탔뫍슷믲ꆰ벯좺쪽뺭볃ꆱ뗄듙뷸ퟷ폃(샮탂뒺,2002),떫뺶틀삵탔,헢튲뻍튪쟳웳튵퓚엠폽뺺헹폅쫆뗄맽돌훐쪵볊짏헢킩맺볒믲뗘쟸훷튪쫇춨맽캪뺭볃믮뚯닎폫헟퓚햽싔짏펦룃좷놣웤솬맡탔ꆣ튻쫇평폚웳튵쓚뗄쓜솦쳡릩ퟣ릻뗄짺닺뿉쓜탔벯뫏,틔뇣쯻쏇뿉틔샻폃웤랢뻟폐잶죫탔,벴튻쿮풴횻폐뫍웤쯻풴쿠뮥잶죫퓚쿖믺믡뗄쓜솦뛸듙뷸헻쳥뺭볃뗄랱죙뗄ꆣ쯹틔헢튲붫튻웰닅뿉쓜ퟮ듳돌뛈뗘랢믓ퟅퟷ폃,뛸튻떩샫뾪쇋풭쫇헾뢮폐맘늿쏅랢햹놾뗘뺭볃뗄훷튪횰퓰뫍쫖뛎ꆣ쿈뗄ퟩ횯쳥쾵,퓲헢훖풴뒴퓬볛횵뗄릦쓜뻍쏷쿔뗘닎뾼컄쿗:붵뗍,닺짺뇡횵뗄쿖쿳;뛾쫇탂풴뗄뷸죫,퓚폫웳[1]Penrose,EdithT.,1955:Researchonthebusiness튵쓚늿뗄볈폐풴뷸탐죚뫏횮잰탨튪뫜뎤뗄횮볤firm:limitstothegrowthandsizeoffirms[M],InNicolaiJ.,헢뻍틢캶ퟅ듦퓚튻룶평폚쪱볤뛸떼훂뗄ꆰ믺믡돉놾ꆱꆣFoss(ed.),ThetheoryoftheFirm,(IV),LondonandNew웤죽York,Routledge,2000.,웳튵쓚늿룟닣맜샭헟틔벰웳튵볒죋솦풴랢짺룼쳦쪱,평폚잰죎웳튵볒퓚붨솢탅퇶랽쏦웰쇋훘튪뗄[2]Penrose,EdithT.,1959:ThetheoryofGrowthofퟷ폃theFirm[M],BasilBlackwellPublisher,Oxford.,벴쪹퓚쯻쏇샫뾪틔뫳뗄뫜뎤쪱볤쓚,죔붫짮짮뗘캪ퟩ횯쇴쿂샓펡[3],(1998).EdithPen2(Baron,Hannan뫍Burton,rose:PioneerofStakeholderTheory[J],LongRangePlanning,1999),쯹틔웳튵볒쓜솦쳦듺뗄쪱뗣췹췹뻍쫇쓜솦돥,,-261.춻뗄웰뗣,벴뛔룟닣맜샭헟틔벰웳튵볒쓜솦뗄욵랱룼[4]SumantraGhoshal,MartinHahn,PeterMoran쳦,붫평폚룄뇤쇋웳튵뗄볛횵탅퇶(Porac뫍Rosa,(2000).OrganizingforFirmGrowth:TheInteractionbetween1996)Resource-AccumulatingandOrganizingProcesses[M]ed.,,뷸뛸룸웳튵ퟩ횯듸살릦쓜탔컉싒ꆣ퓙듎,듓역싞쮹뗄웳튵돉뎤샭싛훐뿉틔랢쿖NicolaiFoss&,Governance,and,쓜솦엠폽맽돌훐ퟜ쫇춬쪱뗘듦퓚솽훖킧펦,튻쫇쓚짺Entrepreneurship,-167.풴췆뚯킧펦[5],AlainVerbeke(2002).Edith,뛾쫇듦퓚튻훖ꆰ맜샭쿞훆돉뎤ꆱ뗄킧펦PenrosepsContributiontotheResource-basedViewofStrategic(Ghoshal,Hahn뫍Moran,2000)ꆣ튲뻍틢캶ퟅ,쯤좻탂풴뗄뷸죫붫퓚튻뚨돌뛈짏뻟폐뛌웚뗄득믙탔Management[J]StrategicManagementJournal,23:769-780.,[6],(2000).듦퓚룟뛮뗄룼쳦돉놾(Penrose,1959),짵훁떼훂룟PenrosepsResource-basedApproach:TheProcessandProductof뛈뗄쪧냜(Gavetti뫍Levinthal,2000),쫇늻샻폚웳ResearchCreativity[J]JournalofManagementStudies,37:1,튵뗄뎤웚랢햹뗄ꆣ떫쫇죧맻탂풴뷸죫뫳뗄캴살볛횵109-139.룟폚풴룼쳦돉놾,퓲펦룃붫쓉죫웳튵뗄쓜솦엠폽햽[7]샮탂뒺.훐맺맺폐웳튵훘ퟩ뗄웳튵볒믺훆.훐맺짧싔횮훐ꆣ뇈죧웳튵룟닣맜샭헟뗄쇷쫇쟽뚯뇤룯뗄튻믡뿆톧,2001,4:85-94.룶훘튪틲쯘[8]샮탂뒺.웳튵볒킭뗷폫웳튵벯좺ꆪ뛔훩붭죽뷇훞튵,죧놦샶살릫쮾,떱쯼듓췢늿울폃쇋탂뗄ퟜ뺭샭뫳,춨맽ퟩ붨탂뗄룟닣맜샭췅뛓,뻍쏷쿔뗘룄헲웳튵벯좺뮯돉뎤뗄럖컶.쓏뾪맜샭움싛,2002,3:49-55.짆쇋웳튵뗄뺺헹쓜솦[9]쳆럡틥ꆢ랿몺춢.뺭펪솦:튻룶탂뗄샭싛볙쮵.뺭(Tripsas뗈,2000),맺쓚튲돶쿖탭뛠헢퇹뗄샽ퟓ,죧몣뛻벯췅평헅죰쏴뢺퓰뺭펪횮볃퇐뺿,1999,2:70-76.[10]뫘킡룕.웳튵볒쓜솦ꆢퟩ횯쓜솦폫웳튵벨킧맘쾵퇐뫳,웳튵뗄킧틦뗃틔듳럹뛈쳡룟ꆣ뺿,늩쪿싛컄,2004.듓짏쫶럖컶훐,뿉틔뗃횪,역싞쮹폐맘웳튵쓚짺
