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Servitization and Manufacturing Firms’ Performance: Korean Firm-Level Data Evidence

Author

Listed:
  • Jung, Jae Wook

    (Sogang University)

  • Kim, Hyunsoo

    (Korea Institute for International Economic Policy)

Abstract

Does servitization improve manufacturing firms’performance, and in what condition? Following Crozet and Milet (2017)’s seminal work, this study analyzes disaggregated firm-level data that covers 40,000 South Korean manufacturing firms surveyed by the Survey of Business Activities of Korea. We compute firm-level servitization intensity with available sales data of each firm by two-digit SIC sub-sectors. We find two novel empirical regularities: Korean servitization intensity distribution shows a very different shape from the French benchmark; Servitized firms tend to perform higher profitability and higher productivity.

Suggested Citation

  • Jung, Jae Wook & Kim, Hyunsoo, 2022. "Servitization and Manufacturing Firms’ Performance: Korean Firm-Level Data Evidence," East Asian Economic Review, Korea Institute for International Economic Policy, vol. 26(4), pages 257-277, December.
    • Handle: RePEc:ris:eaerev:0413
    DOI: 10.11644/KIEP.EAER.2022.26.4.413
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    Keywords

    Servitization; Manufacturing; Firm Performance; Productivity;
    All these keywords.

    JEL classification:

    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • M20 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - General
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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