원문정보
초록
영어
The advent of smart phone in the telecommunication industry has rapidly changed a way of competition among companies. At the innovation of products and services are comparative advantages. In this study, we have explored the trajectory of innovation by comparing two representative smart phones; iPhone of Apple and Galaxy of Samsung. We measure the degree of innovativeness of products and services with abnormal return from an event study. In this study, we find that the trajectory of innovation of iPhone is steeper than that of Galaxy. We also find that the innovativeness of iPhone is not different from that of Galaxy, and the first model of iPhone has higher abnormal return than the subsequent models of iPhone, but we do not find the difference for Galaxy. Finally, we have evidence that the effect from product innovation is not different from service innovation, implying that firms’ activities of services are at least effective as the activities of new products.
목차
Introduction
Literature Review
The Trajectory of Innovation
A Trough in New Products
The Difference of Performance of Innovation
Sample
Methodology
Event Definition
Normal and abnormal returns
Estimation Procedure
Analysis
Trajectory of Innovation and the Cause of a Trough
Apple and Samsung
Products and Services
Discussions and Conclusions
Implications
Conclusions
References