• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.7 no.2
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• pp.1-8
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• 2012

Recently the youth starting up a business has become a buzzword. Business plan is a fundamentals in starting up a business. Therefore, in this study, I investigated the business planning behavior of university students in Korea. Especially, I investigated whether university students in Korea dealt with business plan inside and outside or not, and examined university students' thought whether corporate performance is related to business plan or not, and if any, how closely they are. Meanwhile, existing studies and books are arguing that there is a high correlation between business plan and corporate performance, however, there are not many domestic and/or foreign studies that analyzed it empirically. In order to find an answer to this problem, this study was approached empirically. First, the components of business plan were selected through an extensive literature review including existing researches and through factor analysis, I classified them into the five factors of product management, product development, management support system building, organizational management and macro planning. Also, I classified corporate performance into quantitative and qualitative performance, and investigated the influences of business plan factors on those performances. As a result, I found belows. First, university students in Korea thought that the business plan components affected the quantitative and qualitative performances of corporate positively. Second, Korean students had high interests in starting up a business and wanted to run a service business but had almost no experience of business planning. Whilst, Foreign students had relatively high interests in starting up a business and experiences of business planning. They wanted starting up in various industry also. Meanwhile, I did't find the gender differences in those aspects. In this study, I empirically investigated the relation between business plan components and corporate performances in the university students' view, not that of company. So I believe that this study can shed lights on the direction of effective starting up education for increasing the success rate of youth starting up a business.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.12 no.2
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• pp.77-86
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• 2017

Selection of location in food service start-up business is sure to be a shortcut to achievement of business performance, and in this context, it's no exaggeration to say that food service industry is an real estate industry. This study looked into what influence of the location factor in food service start-up business had on sales performance, and intended to verify whether the location factors ultimately influenced business performance consequent on the influence of location factors on start-up business satisfaction. To this end, this study set food service owner-operators as its research subject, and conducted a survey of the operators (of restaurants) located in Anyang-si from December 1, 2016 until January 30, 2017. This study distributed a total of 300 copies of questionnaires, and collected 245 copes, among which this study used 198 copies for empirical study excluding the copies whose reply was unfaithful. This study did empirical analysis of 198 copies using SPSS 22.0 Statistical Package Program, together with the application of frequency analysis, factor analysis and regression analysis. The major results of this study are as follows: First, this study divided the location factors in food service start-up business stores into the four, i.e. accessibility, clustering property, placeness and visibility, etc. Second, the study results showed that accessibility, clustering property, placeness and visibility had significant influence as one in the influence of locational factors on sales performance. Third, this study could understand that start-up business satisfaction had a partial mediated effect in the influence of location factors on sales performance. Resultantly, this study confirmed food service start-up business's own selection of location, and wished to find major factors and a differentiated point in time of selection of location of stores in other fields. Such a result gives an implication that it's necessary to concentrate all efforts to increase sales performance of food service start-up business from the location selection phase, and to make efforts to increase start-up business satisfaction.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.5
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• pp.103-118
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• 2018

This study would provide the basic data informative for establishing a VMD strategy, covering design and marketing for business owners and prospective entrepreneurs, including the persons concerned with the food and beverage industries by investigating the relationships of the impacts of several factors in the cognitive dimension factors of VMD in food and beverage stores on consumers' emotional response and behavior intention and the mediating effect of emotional responses, applying the concept of VMD to the food and beverage industries. To check this research purpose, data were collected through a survey, conducted with various consumers in their 20s through 60s who have experienced the use of food and beverage stores. The period of the survey was from September 20 through October 10, 2017, 202 copies of questionnaires were collected without missing values and used as data for the final analysis. As for the analysis of the data, using SPSS statistical software, frequency analysis and descriptive statistics, analysis of reliability and validity, correlation analysis, single and multiple regression analysis were conducted. According to the results of this study, first, the relationship of the impact between the VMD cognitive dimension of food and beverage stores and customers' emotional responses was statistically significant. In concrete, all factors of VMD cognitive dimension, including the factors of suitability and daily escape had positive (+) impacts on positive emotions. Second, as a result of an analysis of the impact of emotional responses felt in the process of visiting the food and beverage stores on customers' behavior intention, it turned out that positive emotions had a positive (+) impacts on visit intention and recommendation intention while negative emotions did not have any impacts on visit intention and recommendation intention. Third, as a result of an analysis of the impact of VMD cognitive dimension on behavior intention, the suitability and balance of the VMD cognitive dimension had positive (+) impacts on visit intention while daily escape and functionality had positive (+) impacts on recommendation intention. Fourth, as a result of checking if emotional responses had a mediating effect in the relationship between the VMD cognitive dimension and behavior intention, positive emotions had a full mediating effect while there was no mediating effect of negative emotions between the VMD cognitive dimension and behavior intention. In conclusion, this study found that the VMD cognitive dimension of food and beverage stores affected consumers' emotional responses and that emotional responses were a factor affecting behavior intention and proved that consumers' emotional responses differed depending on the factors in the cognitive dimension. Thus, in food and beverage stores, it would be necessary to make effective designs of the stores and differentiate the presentation of them through utilizing detailed factors of the cognitive dimension of VMD. Also, the results of this study could be utilized as the appropriate marketing tools for customers in food and beverage stores and as the basic data for establishing the strategy.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.4
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• pp.135-151
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• 2021

This research attempts to analyze the factors influencing the entrepreneurial intention of employees in manufacturing field. In particular, key factors of entrepreneurship and personal characteristics explain a significant association with the intention to start-up. And study whether R&D support from public enterprise adjusts intention to entrepreneurial Intention. This study conducted a online survey on 292 small and medium-sized enterprise manufacturing employees in May 2020. Using linear regression model and binary logistic model. The main study results are the following: First, among the key factors(innovativeness, proactiveness, risk-taking) of entrepreneurship, proactiveness hardly influenced the opportunity competency. Second, among the factors(risk-taking propensity, locus of control, tolerance for ambiguity) of personal characteristics, locus of control hardly influenced the opportunity competency. Third, opportunity competency(opportunity recognition and opportunity evaluation) had positive influence to entrepreneurial intention. Fourth, the study investigated the mediated effect of opportunity competency. The result showed that among the factors of entrepreneurship and personal characteristics, only two factors that are proactiveness and locus of control were not mediated by opportunity competency. and opportunity evaluation was acted as a mediator between proactiveness and entrepreneurial Intention, compared with opportunity recognition. Lastly, public enterprise's R&D supporting moderated the entrepreneurial intention). Based on the result, the study showed that first, the key factors of entrepreneurship except for proactiveness and personal characteristics(risk-taking propensity, locus of control, tolerance for ambiguity) except for locus of control affect the intention to start-up, repeatedly. This results are explained that employees have not started a business yet. Second, research on start-up suggests the need to analyze factors differentiated before and after the start-ups. Based on the results, entrepreneurship and personal characteristics show that study on the effects of start-up intentions should be carried out before and after the actual start-up takes place, and can be used as effective data in policies to promoting start-ups in manufacturing field.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.2
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• pp.177-188
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• 2021

On December 2015, Financial Supervisory Service(FSS) announced the four key thematic audit review areas, one of them is an appropriation of unbilled revenue. Accounting of unbilled revenue is intertwined with a percentage of completion, that is concerned about discretionary decision by manager. Therefore, if manager motivated by income-increasing manipulation is exaggerating percentage of completion, unbilled revenue is excessively recognized. This problem is caused the serious accounting issues(e.g., shock at a loss for 2013 fiscal year by some construction firms, malpractice of accounting in order-made production industry). Distrust of accounting was grown because the shipbuilding and construction industries successively went poor management and bad accounting of them is revealed. Those accounting issues were the trigger for problem recognition of unbilled revenue, they were background for the designation of appropriation unbilled revenue as thematic audit review areas by FSS. Therefore, this study verified effectiveness of thematic audit review by empirically analyzing whether designation of thematic audit review makes the firm increases conservative behavior. Conservative accounting is estimated by using Basu(1997) model. We analyzed the effect of the thematic audit review on conservative accounting of unbilled revenue by comparing with reflecting unbilled revenue or not. The sample for test consists of firm-years the manufacturing and construction industries from 2012 to 2017. The test results of this study suggested that the conservative accounting of unbilled revenue after designation of the thematic audit review was significantly increased. We also tested again by classifying whether or not it is construction industry. We found that construction industry is more conservative than the other industry only for the designated year of the thematic audit review, otherwise there was not any evidence for significantly increasing conservatism. This study contributes to the literature by empirically analysing relationship of the unbilled revenue to the thematic audit review from the perspective of the conservatism and verifying effectiveness of the thematic audit review.

• Journal of Venture Innovation
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• v.4 no.3
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• pp.125-139
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• 2021

As the 4th industrial revolution progresses, new technologies and services are being born, growing, and maturing. Now, beyond the mobile era, the metaverse is being discussed as a new paradigm. Therefore, in this study, in preparation for the metaverse era, we tried to analyze what factors have an important influence when consumers want to use new technologies. In particular, the research was conducted focusing on how the context in which consumers use the technology changes depending on whether they are B2C or B2B. For this, augmented reality (AR) was selected in the B2C context by linking the research subject with the metaverse era, and the smart factory was selected in the B2B context. The research model for the analysis was established by deriving and setting common influence variables by reflecting the characteristics of the research target technology based on the modified extended unified theory of acceptance and use of technology. A survey was conducted for empirical analysis, and 150 AR and 150 smart factory subjects were analyzed. The empirical study results are as follows. The relationship between performance expectancy and intention to use, technology readiness and intention to use was found to have a significant positive (+) effect on both AR and smart factory. On the other hand, it was found that effort expectancy, social influence, and trust had a positive (+) effect on intention to use only in AR. Only in smart factory, facilitating conditions had a significant positive (+) effect on intention to use. It was also found that the perceived risk had a significant negative (-) effect on the intention to use only in the smart factory. The results of this study are academically significant in that we empirically test that influencing factors of technology use varies depending on the context in which it is used by consumers. In practice, it provided an implication of what to focus on first is being implemented.

• Journal of Venture Innovation
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• v.6 no.4
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• pp.23-40
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• 2023

This study examines the customer value factors affecting the intention to continue using the mobile app of department stores, which are traditional offline retailers, in the retail industry that is rapidly digitalizing and becoming mobile. This study clarifies multidimensional customer value in three dimensions; functional, convenience, and social. Functional value refers to the integrated channel, and consistent customer experience provided between channels in the omnichannel retail environment, while convenience value is the convenience of saving time and effort save while customers use a mobile app. Social value refers to the improvement of social approval or social self-concept occurring due to the use of products or services related to green marketing within the mobile app of the department store. The influence of each on the dependent variable, the mobile app's continuous use intention, was analyzed by using the three dimensions of customer value as independent variables. Data was collected from customers who have a history of using the mobile app of Shinsegae Department Store in Korea, and a confirmatory analysis was conducted using Smart PLS 4.0. The analysis results showed that all three dimensions of customer value; functional value, convenience value, and social value, had a positive (+) influence on customers' intention to continue using the mobile app, and the influence of functional value had the greatest impact. As functional value appears to be the most important influencing factor due to the omnichannel retail trend by advancement of technology, it suggests that it is important for department stores, and offline retailers, to provide integrated channels. This provides insights into the direction of customer-centered strategy formulation for activating department store mobile apps and suggests basic analytical data for customized services and marketing activities that department stores can effectively meet the changing expectations and demands of customers through new mobile channels rather than existing offline channels.

• Journal of Venture Innovation
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• v.6 no.3
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• pp.21-42
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• 2023

The purpose of this study is to examine the structural relationships of empowerment, continuous learning activities, and collaboration in the effects of person-organization fit and person-job fit on task performance among employees of early-stage startups with less than 7 years of experience that have an agile organizational culture. To achieve this purpose, we developed a research model and established hypotheses based on theoretical review and the results of prior research. Data were collected from employees working in startups with less than 7 years of experience that have an agile organizational culture, and a total of 204 responses were utilized for the final analysis. Before hypothesis testing, we examined the characteristics of the sample, conducted confirmatory factor analysis to assess measurement model fit, tested convergent and discriminant validity and analyzed reliability. After confirming the goodness of fit of the structural equation model, it tested the hypotheses, including mediating effects, based on the results of the structural equation model analysis. The results show that person-organization fit has a significant positive effect on empowerment, continuous learning activities, and collaboration. Similarly, person-job fit was found to have a significant positive effect on empowerment, continuous learning activities, and collaboration. However, it was found that empowerment did not have a statistically significant effect on task performance, while continuous learning activities had a significant and negative effect on task performance. Finally, collaboration was found to have a significant positive effect on task performance, and the mediation analysis results indicated that collaboration had a mediating effect on the relationship between person-job fit and task performance. Based on the findings of this study, it discussed the significance of the study and theoretical and practical implications. It also discussed limitations of the research and suggested directions for future research.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.4
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• pp.1-20
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• 2023

This study attempted to identify the relationship between the investment determinants of accelerators and investment performance through empirical analysis. Through literature review, four dimensions and 12 measurement items were extracted for investment determinants, which are independent variables, and investment performance was adjusted to the cumulative amount of subsequent investment based on previous studies. Performance data from 594 companies selected by TIPS from 2017 to 2019, which are relatively reliable and easy to secure data, were collected, and the subsequent investment cumulative attraction amount, which is a dependent variable, was hypothesized through multiple regression analysis three years after the investment. As a result of the study, 'industrial experience years' in the characteristics of founders, 'market size', 'market growth', 'competitive strength', and 'number of patents' in the characteristics of products and services had a significant positive (+) effect. The impact of independent variables on dependent variables was most influenced by the competitive strength of market characteristics, followed by the number of years of industrial experience, the number of patents, the size of the market, and market growth. This was different from the results of previous studies conducted mainly on qualitative research methods, and in most previous studies, the characteristics of founders were the most important, but the empirical analysis results were market characteristics. As a sub-factor, the intensity of competition, which was the subordinate to the importance of previous studies, had the greatest influence in empirical analysis. The academic significance of this study is that it presented a specific methodology to collect and build 594 empirical samples in the absence of empirical research on accelerator investment determinants, and created an opportunity to expand the theoretical discussion of investment determinants through causal research. In practice, the information asymmetry and uncertainty of startups that accelerators have can help them make effective investment decisions by establishing a systematic model of experience-dependent investment determinants.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.19 no.2
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• pp.215-235
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• 2024

As artificial intelligence (AI) technology is recognized as a key technology that will determine future national competitiveness, competition for AI technology and industry promotion policies in major countries is intensifying. This study aims to present implications for domestic policy making by analyzing the policies of major countries on the start-up of AI companies, which are the basis of the AI industry ecosystem. The top four countries and the EU for the number of new investment attraction companies in the 2023 AI Index announced by the HAI Research Institute at Stanford University in the United States were selected, The United States enacted the National AI Initiative Act (NAIIA) in 2021. Through this law, The US Government is promoting continued leadership in the United States in AI R&D, developing reliable AI systems in the public and private sectors, building an AI system ecosystem across society, and strengthening DB management and access to AI policies conducted by all federal agencies. In the 14th Five-Year (2021-2025) Plan and 2035 Long-term Goals held in 2021, China has specified AI as the first of the seven strategic high-tech technologies, and is developing policies aimed at becoming the No. 1 AI global powerhouse by 2030. The UK is investing in innovative R&D companies through the 'Future Fund Breakthrough' in 2021, and is expanding related investments by preparing national strategies to leap forward as AI leaders, such as the implementation plan of the national AI strategy in 2022. Israel is supporting technology investment in start-up companies centered on the Innovation Agency, and the Innovation Agency is leading mid- to long-term investments of 2 to 15 years and regulatory reforms for new technologies. The EU is strengthening its digital innovation hub network and creating the InvestEU (European Strategic Investment Fund) and AI investment fund to support the use of AI by SMEs. This study aims to contribute to analyzing the policies of major foreign countries in making AI company start-up policies and providing a basis for Korea's strategy search. The limitations of the study are the limitations of the countries to be analyzed and the failure to attempt comparative analysis of the policy environments of the countries under the same conditions.