What Determines Small Champions’ Export Performance? Evidence from Korea Firm-Level Data

Kim, Young Gui; Suh, Jeongmeen

doi:10.1162/asep_a_00356

Cited by 5 publications

(4 citation statements)

References 11 publications

(12 reference statements)

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“…2015 Kim & Suh (2015) Simon (1990,2009) Analysis of export performance of Korean hidden champions While the organizational productivity determines firm export entry strategy, fixed export costs drive the export intensity…”

Section: Research Articlementioning

confidence: 99%

Hidden champions: a review of the literature & future research avenues

Schenkenhofer

2022

Manag Rev Q

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Substantial efforts have contributed to overcome the scarcity of research on hidden champions. Nevertheless, literature has yet missed to compile a comprehensive review. Drawing on the insights of 112 publications, four strands of literature could be distinguished to unravel the essence of hidden champions. Research on hidden champions studies their (1) internationalization strategies, (2) R&D and innovation strategies, the (3) worldwide and regional geographic distribution of hidden champions and finally (4) other research that could not be assigned to one of the first three strands. A hand-collected sample of 1372 German hidden champions exemplifies the key insights from the reviewed research articles. Discussing the findings of the different literature strands aims at drawing a conclusion on their main results and analytical pitfalls to eventually unfold and motivate future research avenues.

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Section: Research Articlementioning

confidence: 99%

Hidden champions: a review of the literature & future research avenues

Schenkenhofer

2022

Manag Rev Q

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“…The range of concepts describing the various aspects of fast-growing businesses also includes "hidden champions": these were originally conceptualized by Herman Simon (Simon, 1990) as companies little known to a wide range of consumers, dominating narrow market segments (number one at the national level, or one of the top three in the world), with a relatively small workforce, 9 and revenues of up to 4 billion USD. 10 Such niche leaders favor incremental sustainable innovation over disruptive radical innovation strategies (Simon, 1996;Yoon, 2013) and make a significant contribution to national exports (Fryges, 2006;Kim, Suh, 2015). However, their activities tend to remain in the shadows, which makes it difficult to identify them, while the low recognition criterion itself is hard to formalize (Simon, 1996;Schenkenhofer, 2022).…”

Section: Literature Reviewmentioning

confidence: 99%

Relocation as a Driver of Innovative Activity: A Global Study of Unicorn Founders’ Migration

Kutsenko¹,

Tyurchev²,

Ostashchenko³

2022

Foresight and STI Governance

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This paper investigates the migration flows of uni-corns – private companies that achieve a market value of at least one billion USD within ten years. This concept was recently introduced by professional investors but has actively entered the global expert and political agenda. The ability of national innovation systems to grow unicorns has become a new hallmark of success. This study uses the most complete sample of companies as of July 2022 (1,357 unicorns), for each of them we identified the founders, their countries of birth, and the educational institutions they graduated from.Among the main results, it is revealed that 40% of billion-dollar companies were created with the participation of foreign founders. The authors identified three country groups depending on the founders’ migration flows direction: “attracting” unicorns, “growing on their own” and “losing everything”. A comparative analysis of countries’ innovation profiles made it possible to identify the unicorn growth and attraction factors. It is emphasized that universities are a significant resource for both strategies, since most of the founders graduated from the leading world universities and every third foreign entrepreneur was educated in the country of migration. It is shown that the strategy of attracting foreign founders complements the growth strategy and could provide the main flow of unicorn founders. The authors noted that the leading unicorn countries are actively involved in the global migration flow: they not only attract the founders, but also act as their largest suppliers. The authors put forward recommendations for attracting unicorn companies.

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“…The range of concepts describing various aspects of fastgrowing businesses also includes "hidden champions": these were originally conceptualized by Herman Simon (Simon, 1990) as companies little known to a wide range of consumers, dominating narrow market segments (number one at the national level, or one of the top three in the world), with a relatively small workforce, 9 and revenues up to 4 billion USD. 10 Such niche leaders favor incremental sustainable innovation over disruptive radical innovation strategies (Simon, 1996;Yoon, 2013) and make a significant contribution to national exports (Fryges, 2006;Kim, Suh, 2015). However, their activities tend to remain in the shadows, which makes it difficult to identify them, while the low recognition criterion itself is hard to formalize (Simon, 1996;Schenkenhofer, 2022).…”

Section: The Phenomenon Of Rapidly Growing Companies and The Unicorn ...mentioning

confidence: 99%

Untitled

2022

Foresight and STI Governance

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It publishes original research articles, offering new theoretical insights and practice-oriented knowledge in important areas of strategic planning and the creation of science, technology, and innovation (STI) policy, and it examines possible and alternative futures in all human endeavors in order to make such insights available to the right person at the right time to ensure the right decision.The journal acts as a scientific forum, contributing to the interaction between researchers, policy makers, and other actors involved in innovation processes. It encompasses all facets of STI policy and the creation of technological, managerial, product, and social innovations. Foresight and STI Governance welcomes works from scholars based in all parts of the world.Topics covered include:• Foresight methodologies and best practices;• Long-term socioeconomic priorities for strategic planning and policy making;• Innovative strategies at the national, regional, sectoral, and corporate levels;• The development of National Innovation Systems;• The exploration of the innovation lifecycle from idea to market;• Technological trends, breakthroughs, and grand challenges;• Technological change and its implications for economy, policy-making, and society;• Corporate innovation management;• Human capital in STI; and many others.The target audience of the journal comprises research scholars, university professors, postgraduates, policy-makers, business people, the expert community, and others who are interested in S&T and innovation analyses, foresight studies, and policy issues. The journal is included into the 1st quartile (Q1) of the Scopus

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What Determines Small Champions’ Export Performance? Evidence from Korea Firm-Level Data

Cited by 5 publications

References 11 publications

Hidden champions: a review of the literature & future research avenues

Hidden champions: a review of the literature & future research avenues

Relocation as a Driver of Innovative Activity: A Global Study of Unicorn Founders’ Migration

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