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

Jeong-min Ryu, Sewon Park, Yoonseo Park, Jeongwon Park and Munjae Lee
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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
Munjae Lee: Department of Medical Humanities and Social Medicine, Ajou University School of Medicine, Suwon 16499, Korea

IJERPH, 2021, vol. 18, issue 17, 1-14

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.

Keywords: organization; innovative culture; education and training; job satisfaction; corporate performance (search for similar items in EconPapers)
JEL-codes: I I1 I3 Q Q5 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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