The effect of institutional factors on the market performance of companies located in science and technology parks with a focus of the role of knowledge and technological capabilities
Introduction: Nowadays, the global approach can be clearly seen in the movement of countries towards a "knowledge-based" economy. Knowledge and technology are the main factors in creating wealth in countries and are considered as powerful tools in national development. In this regard, s...
| Main Authors: | , , |
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| Format: | Article |
| Language: | fas |
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Yazd University
2022-04-01
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| Series: | کاوشهای مدیریت بازرگانی |
| Subjects: | |
| Online Access: | http://bar.yazd.ac.ir/article_2824_69f1760793d902f12a757c1e45995f18.pdf |
| Summary: | Introduction: Nowadays, the global approach can be clearly seen in the movement of countries towards a "knowledge-based" economy. Knowledge and technology are the main factors in creating wealth in countries and are considered as powerful tools in national development. In this regard, science and technology parks support companies to develop knowledge and technological ideas and commercialize their products. They also span a bridge between academia, industry and government, leading to sustainable growth and development based on competitive advantages at the national level. Companies in these parks can use the norms and values in the environment through institutional factors to improve their performance, increase their market share, retain their current customers, attract new customers and ultimately improve their market performance. Constant environmental changes and the extent of competition have made market performance critical for corporate executives. In this context, there are not only tangible but also intangible factors involved institutional factors and organizational capabilities; these factors have great impacts on the market performance of businesses. Since improving market performance requires effective and stable communication with the institutional environment of the organization, companies in science and technology parks (especially Rasht Science and Technology Park) can make good use of institutional factors (i.e., institutional support, political management relations, and legal legitimacy). Knowledge and technological capability are considered as intangible organizational resources to achieve goals. This study was conducted to investigate the effects of institutional factors on market performance, in which the mediating role of organizational capabilities (knowledge capability and technology capability) is also emphasized.Methodology: This research is descriptive in terms of the purpose, a survey in terms of strategies and questionnaire-based in terms of data collection. The study population consisted of companies located in Rasht Science and Technology Park. Cochran's formula was also used to determine the required number of samples. According to this formula and the 67 people in the study population, 57 were finally selected as the sample. Accordingly, after referring to the companies, 57 questionnaires were collected. The questionnaires were designed based on seven Likert options (1 = very low to 7 = very high). As for the characteristics of the respondents in this research, about 66.7% of them were men, 47.4% were bachelors, 36.8% were masters, and 12.3% were doctors. Also, 60.9% of the cases were from 30 to 35 years old.Results and Discussion: According to the output of the Smart PLS 2 software, in the first model, "institutional support" explains 88%, "management political relations" 39% and "organizational legal legitimacy" 74% of the changes in institutional factors. Institutional factors explain 67% of the changes in knowledge capability and 62% of the changes in technology capability. These relationships are significant at the 95% significance level. At the same time, institutional factors account for 39% of the changes in market performance. Knowledge and technological capability explain 20% and 16% of the changes in market performance. These were confirmed at the significant level of 99.9%. According to the software output in the second model, "institutional support" explains 10% of the changes in market performance, 42% of the changes in knowledge capability, and 46% of the changes in technology capability. "Management political relations" explains 17% of the changes in market performance, 16% of the changes in knowledge capability, and 19% of the changes in technology capability. The legal legitimacy of the organization also explains 36% of the changes in market performance, 34% of the changes in knowledge capability and 17% of the changes in technology capability. At the same time, knowledge capability explains 14% and technology capability 16% of the changes in market performance.Conclusion: The results show that the development and creation of organizational capabilities has had a great impact on improving the market performance of the companies in the Rasht Science and Technology Park. The research results also showed that institutional factors affect the creation of knowledge and technology capability, so companies must establish proper relationships with the institutional environment and government entities, correctly use this environment and its factors and acquire organizational capabilities. It was found that knowledge and technology have a mediating role in the relationship between institutional factors and market performance. |
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| ISSN: | 2645-386X 2645-3878 |