IDEAS home Printed from https://ideas.repec.org/a/gam/jijerp/v18y2021i17p8926-d621306.html
   My bibliography  Save this article

Innovative Culture and Firm Performance of Medical Device Companies: Mediating Effects of Investment in Education and Training

Author

Listed:
  • Jeong-min Ryu

    (Department of Medical Device Management and Research, SAIHST, Sungkyunkwan University, Seoul 06355, Korea)

  • Sewon Park

    (Department of Medical Device Management and Research, SAIHST, Sungkyunkwan University, Seoul 06355, Korea)

  • Yoonseo Park

    (Department of Bio Medical Engineering, Ajou University, Suwon 16499, Korea)

  • Jeongwon Park

    (Department of Public Health Science, Graduate School, College of Health Science, Korea University, Seoul 02841, Korea
    BK21 Four R&E Center for Learning Health Systems, Transdisciplinary Major in Learning Health Systems, Graduate School, Korea University, Seoul 02841, Korea)

  • Munjae Lee

    (Department of Medical Humanities and Social Medicine, Ajou University School of Medicine, Suwon 16499, Korea)

Abstract

This research explored the mediating effect of investment in education and training relating to the innovative culture and organizational performance of medical device companies. We used the Human Capital Corporate Panel data provided by the Korea Vocational Competency Development Institute. In the industrial classification system of panel data, the industries related to medical devices were extracted and conclusively analyzed for 8629 workers and 368 companies. The independent and dependent variables were innovative culture and corporation performance, respectively. Investment in training and education was a mediating variable between the independent and dependent variables. Quantitative data were analyzed using SPSS software. A higher level of organizational satisfaction emerged in an innovative culture. Innovative culture positively affected organizational satisfaction. Further, investment in education and training to promote an innovative culture positively affected organizational satisfaction. Medical device companies should improve their performance by creating an innovative culture.

Suggested Citation

  • Jeong-min Ryu & Sewon Park & Yoonseo Park & Jeongwon Park & Munjae Lee, 2021. "Innovative Culture and Firm Performance of Medical Device Companies: Mediating Effects of Investment in Education and Training," IJERPH, MDPI, vol. 18(17), pages 1-14, August.
    • Handle: RePEc:gam:jijerp:v:18:y:2021:i:17:p:8926-:d:621306
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1660-4601/18/17/8926/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/1660-4601/18/17/8926/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Dominik Maximini, 2018. "Cultural Characteristics of Scrum," Management for Professionals, in: The Scrum Culture, edition 2, chapter 19, pages 205-220, Springer.
    2. Miloš Hitka & Alžbeta Kucharčíková & Peter Štarchoň & Žaneta Balážová & Michal Lukáč & Zdenko Stacho, 2019. "Knowledge and Human Capital as Sustainable Competitive Advantage in Human Resource Management," Sustainability, MDPI, vol. 11(18), pages 1-18, September.
    3. Hui Li & Nazir Sajjad & Qun Wang & Asadullah Muhammad Ali & Zeb Khaqan & Shafi Amina, 2019. "Influence of Transformational Leadership on Employees’ Innovative Work Behavior in Sustainable Organizations: Test of Mediation and Moderation Processes," Sustainability, MDPI, vol. 11(6), pages 1-21, March.
    4. Michaelis, Timothy L. & Aladin, Roberly & Pollack, Jeffrey M., 2018. "Innovation culture and the performance of new product launches: A global study," Journal of Business Venturing Insights, Elsevier, vol. 9(C), pages 116-127.
    5. Dominik Maximini, 2018. "Scrum Culture Definition," Management for Professionals, in: The Scrum Culture, edition 2, chapter 1, pages 3-16, Springer.
    6. Munjae Lee, 2018. "Strategies for Promoting the Medical Device Industry in Korea: An Analytical Hierarchy Process Analysis," IJERPH, MDPI, vol. 15(12), pages 1-13, November.
    7. Abang Azlan Mohamad & T. Ramayah & May Chiun Lo, 2020. "Sustainable Knowledge Management and Firm Innovativeness: The Contingent Role of Innovative Culture," Sustainability, MDPI, vol. 12(17), pages 1-15, August.
    8. Dominik Maximini, 2018. "The Scrum Culture," Management for Professionals, Springer, edition 2, number 978-3-319-73842-0, December.
    9. GuoXiang Tang & Kwangtae Park & Anurag Agarwal & Feng Liu, 2020. "Impact of Innovation Culture, Organization Size and Technological Capability on the Performance of SMEs: The Case of China," Sustainability, MDPI, vol. 12(4), pages 1-14, February.
    10. Rupert J. Baumgartner, 2014. "Managing Corporate Sustainability and CSR: A Conceptual Framework Combining Values, Strategies and Instruments Contributing to Sustainable Development," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 21(5), pages 258-271, September.
    11. Dominik Maximini, 2018. "Organizational Culture Models," Management for Professionals, in: The Scrum Culture, edition 2, chapter 18, pages 187-204, Springer.
    12. Agarwal, Rajshree & Shah, Sonali K., 2014. "Knowledge sources of entrepreneurship: Firm formation by academic, user and employee innovators," Research Policy, Elsevier, vol. 43(7), pages 1109-1133.
    13. Munjae Lee & Sewon Park & Kyu-Sung Lee, 2019. "What Are the Features of Successful Medical Device Start-Ups? Evidence from KOREA," Sustainability, MDPI, vol. 11(7), pages 1-17, April.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ewa Chomać-Pierzecka, 2023. "Pharmaceutical Companies in the Light of the Idea of Sustainable Development—An Analysis of Selected Aspects of Sustainable Management," Sustainability, MDPI, vol. 15(11), pages 1-23, May.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Fiaz Ahmad Sulehri & Saba Sharif, 2022. "The Impact of Firm Sustainability on Firm Growth: Evidence from USA," Journal of Policy Research (JPR), Research Foundation for Humanity (RFH), vol. 8(2), pages 1-15, August.
    2. Carter, Kealy & Jayachandran, Satish & Murdock, Mitchel R., 2021. "Building A Sustainable Shelf: The Role of Firm Sustainability Reputation," Journal of Retailing, Elsevier, vol. 97(4), pages 507-522.
    3. K. Poehlmann & R. Helm & O. Mauroner & J. Auburger, 2021. "Corporate spin-offs’ success factors: management lessons from a comparative empirical analysis with research-based spin-offs," Review of Managerial Science, Springer, vol. 15(6), pages 1767-1796, August.
    4. Simone Pizzi, 2018. "The Relationship between Non-financial Reporting, Environmental Strategies and Financial Performance. Empirical Evidence from Milano Stock Exchange," Administrative Sciences, MDPI, vol. 8(4), pages 1-9, November.
    5. Broccardo, Laura & Vola, Paola & Zicari, Adrian & Alshibani, Safiya Mukhtar, 2023. "Contingency-based analysis of the drivers and obstacles to a successful sustainable business model: Seeking the uncaptured value," Technological Forecasting and Social Change, Elsevier, vol. 191(C).
    6. Tommaso Minola & Davide Hahn & Lucio Cassia, 2021. "The relationship between origin and performance of innovative start-ups: the role of technological knowledge at founding," Small Business Economics, Springer, vol. 56(2), pages 553-569, February.
    7. Fini, Riccardo & Perkmann, Markus & Kenney, Martin & Maki, Kanetaka M., 2023. "Are public subsidies effective for university spinoffs? Evidence from SBIR awards in the University of California system," Research Policy, Elsevier, vol. 52(1).
    8. Alberto Cerezo-Narváez & Andrés Pastor-Fernández & Manuel Otero-Mateo & Pablo Ballesteros-Pérez, 2022. "The Influence of Knowledge on Managing Risk for the Success in Complex Construction Projects: The IPMA Approach," Sustainability, MDPI, vol. 14(15), pages 1-30, August.
    9. Assmann, Daisy & Ehrl, Philipp, 2021. "Individualistic culture and entrepreneurial opportunities," Journal of Economic Behavior & Organization, Elsevier, vol. 188(C), pages 1248-1268.
    10. Wunhong Su & Liuzhen Zhang & Chao Ge & Shuai Chen, 2022. "Association between Internal Control and Sustainability: A Literature Review Based on the SOX Act Framework," Sustainability, MDPI, vol. 14(15), pages 1-30, August.
    11. Shao-Long Li & Fang Sun & Mingze Li, 2019. "Sustainable Human Resource Management Nurtures Change-Oriented Employees: Relationship between High-Commitment Work Systems and Employees’ Taking Charge Behaviors," Sustainability, MDPI, vol. 11(13), pages 1-15, June.
    12. Chih-Hsing Liu & Quoc Phong La & Yen-Ling Ng & Rullyana Puspitaningrum Mamengko, 2023. "Discovering the Sustainable Innovation Service Process of Organizational Environment, Information Sharing and Satisfaction: The Moderating Roles of Pressure," Sustainability, MDPI, vol. 15(14), pages 1-26, July.
    13. Würmseher, Martin, 2017. "To each his own: Matching different entrepreneurial models to the academic scientist's individual needs," Technovation, Elsevier, vol. 59(C), pages 1-17.
    14. Katerina Fotova Čiković & Ivana Martinčević & Joško Lozić, 2022. "Application of Data Envelopment Analysis (DEA) in the Selection of Sustainable Suppliers: A Review and Bibliometric Analysis," Sustainability, MDPI, vol. 14(11), pages 1-30, May.
    15. Laura Corazza & Simone Domenico Scagnelli & Chiara Mio, 2017. "Simulacra and Sustainability Disclosure: Analysis of the Interpretative Models of Creating Shared Value," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 24(5), pages 414-434, September.
    16. Qiuxiang Wen & Yingxuan Wu & Jing Long, 2021. "Influence of Ethical Leadership on Employees’ Innovative Behavior: The Role of Organization-Based Self-Esteem and Flexible Human Resource Management," Sustainability, MDPI, vol. 13(3), pages 1-15, January.
    17. Esther Prieto-Jiménez & Luis López-Catalán & Blanca López-Catalán & Guillermo Domínguez-Fernández, 2021. "Sustainable Development Goals and Education: A Bibliometric Mapping Analysis," Sustainability, MDPI, vol. 13(4), pages 1-20, February.
    18. Audretsch, David & Colombelli, Alessandra & Grilli, Luca & Minola, Tommaso & Rasmussen, Einar, 2020. "Innovative start-ups and policy initiatives," Research Policy, Elsevier, vol. 49(10).
    19. E.V. Orlova, 2021. "Assessment of the Human Capital of an Enterprise and its Management in the Context of the Digital Transformation of the Economy," Journal of Applied Economic Research, Graduate School of Economics and Management, Ural Federal University, vol. 20(4), pages 666-700.
    20. Criaco, Giuseppe & van Oosterhout, J. (Hans) & Nordqvist, Mattias, 2021. "Is blood always thicker than water? Family firm parents, kinship ties, and the survival of spawns," Journal of Business Venturing, Elsevier, vol. 36(6).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jijerp:v:18:y:2021:i:17:p:8926-:d:621306. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.