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

Author

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  • 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
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    References listed on IDEAS

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