Impact of resource investment patterns on long-term profitability

2018 Fiscal Year Final Research Report

• Project/Area Number: 17H06544
• Research Category: Grant-in-Aid for Research Activity Start-up
• Allocation Type: Single-year Grants
• Research Field: Management
• Research Institution: University of Tsukuba
• Principal Investigator: Hirai Takashi 筑波大学, ビジネスサイエンス系, 教授 (60800597)
• Project Period (FY): 2017-08-25 – 2019-03-31
• Keywords: ダイナミック・ケイパビリティ / 研究開発

Outline of Final Research Achievements

In this study, I conducted an empirical analysis for improving the profitability of Japanese businesses which have been experiencing long-term low profitability. First, applying dynamic capabilities theory, which deals with how to rebuild the resources and capabilities of a company, a model development on resource investment pattern and profitability was constructed. Based on the model, a hypotehsis (continuous resource investment will enhance profitability in the long-rum) has been extracted. Then quantitative analysis was conducted on the relationship between R & D expenses and operating profit margin over 27 years of 189 large-scale manufacturing companies in Japan. The initial hypothesis was examined, and it was found that companies that have increased R & D expenses continously has improved profitability in the long run.

Free Research Field

経営戦略

Academic Significance and Societal Importance of the Research Achievements

本研究の成果は、ダイナミック・ケイパビリティ論が主張する、企業活動における感知・捕捉・変革のプロセスの重要性をR&Dの観点から検証したことにあり、その学術的意義は大きい。また、社会的意義に関しては、収益性低下に苦しむ日本企業の経営実務にとって、オープンイノベーションが喧伝される近年においても着実なる自社の研究開発投資が重要であるとの経営示唆を提供するものであり、長期的な企業の収益性向上に向けた経営実務において大きな意義を持っている。