• Journal of the Korea Academia-Industrial cooperation Society
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• v.20 no.5
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• pp.352-362
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• 2019

The study investigates one of the long-standing, but still controversial issues in modern finance from the international and domestic perspectives. That is, financial components and differences on corporate profitability are identified and compared under the primary hypotheses. Empirical research settings include the sample data as KOSPI-listed chaebol firms, time reference covering the post-era of the global financial turmoil and two differently defined profitability indices measured by the market- and the book-value bases. A majority of total 7 explanatory variables except firm size and leverage ratio reveal their statistically significant power to explain profitability indices for the chaebol firms in the first hypothesis. The results are generally compatible with those obtained from their counterparts of non-chaebol firms. In the second hypothesis applying multinomial logistic model, the chaebol firms are classified into three groups according to the level of profitability. It is then confirmed that variables to represent the market-valued debt ratio, business risk and growth potential are financially discriminating factors among the three groups. The study may provide a new vision to identify financial factors of corporate profitability for Korean chaebol firms after the global financial crisis, which can enhance the benefits of interested parties at the government or corporate level in a virtuous cycle.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.6
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• pp.115-133
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• 2020

With the rapid changes in the industry paradigm including the 4th industrial revolution, the survival and sustainable growth of SMEs and venture capital companies are facing a more difficult environment. The organizational capabilities help these companies to overcome the difficulties, such as absorption capacity, innovation capacity, adaptation capacity. It require many interconnected functions and capabilities to increase company performance. This study is based on the research about market adaptation capacity (agility, flexibility)'s mediating effect between organizational capacity(absorption capacity, innovation capacity, adaptation capacity) and corporate performance(financial, non-financial performance). According to the results of empirical analysis, First, Absorption capacity have a significant effect on agility. Second, Innovation capacity have a significant effect on flexibility. Third, Innovation capability have a significant effect on corporate performance. Fourth, Flexibility have a significant effect on corporate performance. Fifth, The mediating effect of flexibility between organizational capability and corporate performance was verified. Finally this paper also propose some suggestions on how to increase corporate performance for SMEs.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.22 no.4
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• pp.273-280
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• 2021

The purpose of this study was to identify groups depending on the four years of changing trajectories in self-efficacy and its relationship with life satisfaction and interpersonal competence of adults with disabilities who were aged above 25. The 1st to 4th year of the second wave from Panel Survey of Employment for the Disabled (PSED) was used to identify the groups and explore their relationship with life satisfaction and interpersonal competence through growth mixture modeling. The results identified three latent classes according to changing trajectories in self-efficacy: a 'high level-increasing group', an 'average level-increasing group', and a 'low level-stable group'. These three groups showed different characteristics in life satisfaction and interpersonal competence. For example, life satisfaction for groups decreased from the 'high level-increasing group' to the 'low level-stable group' and interpersonal competence increased in both 'high level-increasing group' and 'average level-increasing group', whereas it was stabilized in the 'low level-stable group'. These findings suggest that the life satisfaction and interpersonal competence of adults with disabilities are associated with their self-efficacy.

• Journal of Korea Society of Industrial Information Systems
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• v.28 no.1
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• pp.57-69
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• 2023

In a situation where digital transformation using artificial intelligence is active around the world, the growth of domestic AI companies or AI industrial ecosystems is slow. Where a large amount of government funds related to AI are being invested to overcome the difficult economic situation, systematic research on the effect is insufficient. So, this study aimed to examine the policy effectiveness of the government artificial intelligence solution voucher support project for small and medium-sized enterprises (SMEs) using Propensity Score Matching (PSM) and Difference-in-Differences (DID) on the financial performance of beneficiary companies. For empirical analysis, PSM-DID analysis was performed using sales performance since 2019 for 461 companies with a history of voucher support among the AI SMEs data released by the National IT Industry Promotion Agency. As a result of the analysis, the beneficiary companies' asset growth, salary, and R&D expenses increased overall after government support, and no significant contribution could be confirmed in terms of profits. This study suggests that the voucher policy business directly contributed to the company's growth in the short term, but it requires a certain period of time to generate profits.

• The Journal of the Convergence on Culture Technology
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• v.9 no.2
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• pp.113-118
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• 2023

This study analyzed the effects of macroeconomic variables, including housing affordability, and bank loan-related variables on variation in housing prices using multiple regression models. As a result of the analysis, consumer price growth rate, the total currency growth rate, and the housing affordability growth rate had a significant positive effect on changes in housing prices. As a result of analyzing the period of rising and falling housing prices, consumer price growth rate and the total currency growth rate during the period of rising housing prices had a significant positive effect on housing prices. Unlike the period of rising housing prices, the growth rate of household loans was found to have a significant positive effect on changes in housing prices. On the other hand, unlike the period of rising housing prices, the growth rater of mortgage loans was found to have a significant negative effect on changes in housing prices. The growth rate of housing affordability index did not have a significant positive effect on changes in housing prices during a falling housing prices. The determinants of housing prices showed different patterns during the period of rising housing prices and falling housing prices.

• The Journal of the Convergence on Culture Technology
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• v.9 no.2
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• pp.57-65
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• 2023

This study examined the obstacles of important factors involved in the start-up decision process for prospective entrepreneurs and plans after graduation while attending hair and beauty colleges and analyzed them in a phenomenological way to establish countermeasures. The subjects of the study agreed to collect data from 10 prospective entrepreneur doctors and plans after graduation while attending hair and beauty college located in G, and were in-depth from December 15 to December 30, 2022. The collected data were analyzed using the Colaizzi method. The results of this study were extracted with 13 topics and two subject collections that represent the characteristics of the experience in the preliminary start-up process of the participants. Based on the results of this study, it is meaningful to examine the obstacles of the factors that are importantly involved in the start-up decision process and establish countermeasures accordingly. In conclusion, at a time when the market for start-ups is expanding and government support is increasing, the factors affecting the will of college students, who are potential professional managers in the future, and effective implications for enhancing the university's start-up infrastructure, start-up difficulties, and start-up motivation were obtained. Therefore, it is urgent to develop efficient performance counseling research or program counseling that can promote and support mental and environmental growth through career development required for the difficulties of the decision process of prospective entrepreneur hair college students and the situations they face. It is necessary to develop various measurement tools in consideration of the level of career development and development of a start-up decision-making process model that can fully grasp the status of start-ups of prospective start-ups.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.1
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• pp.237-251
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• 2023

This study tried to understand the effect of internal resources, capabilities, and business model innovation of venture enterprises on industrial property performance, as based on previous studies that securing industrial property rights has a positive effect on the technology commercialization of venture companies. Venture company capabilities were classified into intrinsic elements of a company (company's research resources) and creative elements (commercialization capabilities) that implement them, and they were intended to show that they could lead to a company's potential competitiveness through innovation in business models. In order to verify this research purpose, an empirical analysis was conducted on 1,733 corporate companies among venture confirmation companies subject to the 2019 venture company precision survey. It was confirmed that the systematic research organization and commercialization capabilities of venture companies were significant (+) in industrial property performance. However, in the final research model that applied both the rules of the business model's innovation variable, commercialization capability and business model innovation were significant (-), and research organization × business model innovation showed significant results (+). This means that venture companies' excellent resources and capabilities can have a positive impact on industrial property performance individually, but when applying the level of innovation in the actual business model, they must interact with the business model. The results of this study are meaningful in that it is necessary to pursue business model innovation that secures clear differentiators compared to competitors as well as strengthening the company's internal resources and capabilities to secure industrial assets and innovation growth.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.4
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• pp.45-55
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• 2022

Accelerator is a private investment institution that provides startups with comprehensive solutions to solve various difficulties such as startup facilities, funds, commercialization, securing a market etc. In addition to the role of an investor as a new startup support model, accelerators have contributed much to improvement of business ability of startups through intensive mentoring. Considering that previous studies gave weight to the determinants of investment from the perspective of investors, this study made a comparative analysis on the relative importance of determinants of investment in startups among accelerators, investors and entrepreneurs through the method of AHP. Results show that accelerators and investors regard "managerial characteristics" of startups as of the highest importance, whereas entrepreneurs think that "market characteristics" of startups are the most important. The result stems from an empirical judgment from the perspective of investors that success of startups depends on the ability of entrepreneur, and it is considered that investors evaluated marketability of startups as the most important factor in consideration of investment payback period. The result is similar to the result of previous studies on the determinants of investment determinants of angel investors and venture capitals. This paper is expected to make a contribution to the advancement of investment decision-making model for accelerators to discover startups with high possibility to grow and achieve more in incubation and investment.

• The Journal of the Convergence on Culture Technology
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• v.10 no.1
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• pp.183-192
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• 2024

The purpose of this study is to empirically analyze the determining factors (economy, security, domestic politics, administration, and international politics) that affect the ROK-US defense cost sharing decision. Through this, we will gain a deeper understanding of the defense cost sharing decision process and improve the efficiency of defense cost sharing calculation and execution. The scope of the study is ROK-US defense cost sharing from 1991 to 2021. The data used in the empirical analysis were various secondary data such as Ministry of National Defense, government statistical data, SIPRI, and media reports. As an empirical analysis method, multiple regression analysis using time series was used and the data was analyzed using an autoregressive model. As a result of empirical research through multiple regression analysis, we derived the following results. It was analyzed that the size of Korea's economy, that is, GDP, the previous year's defense cost share, and the number of U.S. troops stationed in Korea had a positive influence on the decision on defense cost sharing. This indicates that Korea's economic growth is a major factor influencing the increase in defense cost sharing, and that the gradual increase in the budget and the negotiation method of the Special Agreement (SMA) for cost sharing of stationing US troops in Korea play an important role. On the other hand, the political tendencies of the ruling party, North Korea's military threats, and China's defense budget were found to have no statistically significant influence on the decision to share defense costs.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.2
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• pp.47-59
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• 2019

Various studies have been carried out on the subject of entrepreneurship, which is required to create new businesses and organizations during the early process of startups based on innovative technologies and ideas. At the same time, the concept of organizational entrepreneurial orientation, which explains how to manage enterprises in the process of pioneering new products and markets, is drawing more and more attention for the purpose of continuously creating and maintaining a competitive edge of startups. This study focused on the relationship between entrepreneurial orientation and startup performance and the role of technological orientation and social capital. An empirical research was conducted on 144 different startup companies residing in startup supporting institutions. To evaluate the suitability of the research model, a PLS-based structural equation model was used. The research results are as follows: First, the entrepreneurial orientation of startups was found to have a positive effect on startup performance. Second, it was shown that entrepreneurial orientation had a positive effect on all three dimensions of social capital and technological orientation. Third, it has been shown that technological orientation and the cognitive dimension of social capital mediates the relationship between entrepreneurial orientation and startup performance. Through this, it was confirmed that entrepreneurial orientation directly affects startup performance, and it even influences the growth of startups by increasing technological superiority and social capital which is inherent in the network. Also, the research identified the need for additional research on the relationship between the strengthening of technological orientation and strategical orientation in startups. This study is expected to expand the discussion about social capital in the field of startup related research by affirming the role and importance of the cognitive system embedded in the network as well as the connectivity of networks, which has been already emphasized in previous startup related studies. Finally, the results of this study were reflected to present new practical implications.