상세정보

This paper studies how global utilities respond to pressure from the institutional environment of companies such as ‘Energy Transition’ to achieve carbon neutrality, ‘Digital Transformation’ based on new technologies such as artificial intelligence and big data, and endogenous pressure from various stakeholders. In order to understand global utilities' response strategies to institutional and endogenous environmental changes represented by uncertainty, data were collected through internal reports of each global utility over the past five years, and an inductive case study method suitable for text analysis was used. For the selection of the global top utility sample, five companies were selected by referring to Forbes' ranking in 2021. As a result of data analysis, five types of institutional and endogenous pressures and response strategies were identified according to the company's institutional and endogenous pressures and response strategy. This paper also analyzed how this type relates to financial and non-financial performance representing corporate performance. Therefore, this study attempted to provide implications to the literature and practitioners of corporate management strategies by presenting propositions on how corporate strategies relate to corporate performance in response to institutional and endogenous pressures of companies with high uncertainty.

ABSTRACT	i
1. Introduction	1
2. Literature review	2
  2.1. Electric power industry	3
    2.1.1. Value chain structure	3
    2.1.2. Energy Mix	4
  2.2. Neo-institutional theory	4
    2.2.1. Institutional pressures	4
    2.2.2. Endogenous pressures	5
  2.3. Performance	5
    2.3.1. Financial performance	5
    2.3.2. Non-financial performance	6
3. Methodology	6
  3.1. Sampling	7
  3.2. Data collection	8
  3.3. Data analysis	9
4. Results	10
  4.1. Case description	10
   4.1.1. Institutional pressure	11
   4.1.2. Endogenous pressure	11
   4.1.3. Corporate strategy	21
    4.1.3.1. Value chain structure	21
    4.1.3.2. Energy mix	21
   4.1.4. Performance	22
    4.1.4.1. Financial performance	22
    4.1.4.2. Non-financial performance	24
  4.2. Cross analysis	25
   4.2.1. Institutional pressure	25
   4.2.2. Endogenous pressure	25
   4.2.3. Corporate strategy	26
   4.2.4. Performance	26
5. Implications, limitations and future research	28
  5.1. Implications	28
  5.2. Limitation & Future research	28
References	29