• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.2
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• pp.1-17
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• 2021

Existing research on the investment relationship between venture capital and start-up companies has mainly focused on choosing a startup from the perspective of venture capital, an investor. However, as competition among venture capital has increased recently, excellent start-ups with proven technology are choosing venture capital in reversely. This study investigated key elements that affect the selection of the venture capital by a startup. To this end, we looked at which venture capital company was selected as the final investor for startups that have received investment proposals from multiple venture capitals at the same time. Six early start-ups(pre-series A/Series A) and five mid-term (Series B/C) start-ups were interviewed to focus on the influence of the three elements regarding venture capital - 1) venture capital reputation, 2) relationship between cofounders and investors, and 3) value adding service provided by venture capital - on choice. As a result of the research, the investment portfolio among the reputations of venture capital was a very important element in selecting venture capital. However, it has been shown that the age and asset under management of venture capital are not important. Relationships have emerged as a very important element. Finally, as for venture capital's value-adding services, start-ups in this study did not consider it important. In particular, consulting and monitoring by venture capital has been found to be a burdening attribute for startups. This study suggests implications that can increase the probability of successful investment by venture capital in the investment market where investment competition is fierce, and enhance mutual understanding between venture capital and startups.

• The Journal of the Convergence on Culture Technology
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• v.7 no.3
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• pp.365-374
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• 2021

Recently, the high growth rate and advantages of the crowdfunding market have also led to increased participation of brands and companies, and this also applies to fashion business. Risk has been noted to be a key factor in consumer behavior in crowdfunding. With the high-risk context of crowdfunding where supporters inevitably bear to pay full amount of price before receiving the actual products. Factors enhancing or inhibiting perceived risk of crowdfunding need to be explored. The past literature on perceived risk and consumer attitudes in crowdfunding has expanded, but it has rarely covered the context of experience goods such as fashion products. In addition, the platform characteristics in relation to perceived risk should be addressed. The current study attempts to address the effect of the perceived amount of information offered in a fashion crowdfunding project on perceived risk and the intention to participate in the project. For the experiment of this study, a fictitious crowdfunding page for fashion products was set as the stimuli. A total of 240 Korean participants were recruited and their responses were statistically analyzed using SPSS 24.0 software. In the results, the greater the amount of detailed information about the fashion crowdfunding project, the higher the intention to participate the project. The greater the amount of information provided, the lower the perceived risk of consumers. Moreover, the lowered perceived risk affected the intention of participate. Perceived risk has a partial mediation in the relationship between the amount of information and intention to participate. Theoretical and managerial implications are discussed.

• International Area Studies Review
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• v.21 no.2
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• pp.97-120
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• 2017

This study attempted to examine how Chinese consumers' brand authenticity of Korean cosmetic brands are related to brand loyalty through brand aura. In other words, this study observed how Chinese consumers' brand authenticity, which includes product, employee and corporate authenticity related to Korean cosmetic brands, influence on the consumers' brand loyalty through brand aura. To this end, we surveyed Chinese consumers visiting Korean cosmetic brand shops in department stores, discount stores and large shopping malls in Beijing, Shanghai, Guangzhou in China. A total of 400 surveys were used in the empirical analysis. The results of empirical analysis confirmed that product, employee, and corporate authenticity of Chinese consumers have for Korean cosmetic brands positively influenced on brand aura. Furthermore, results showed that Chinese consumers' brand aura of Korean cosmetic brands had a positive effect on brand loyalty. The results of this study provide implications to help Korean cosmetic companies gain a competitive edge in the Chinese cosmetic market by understanding Chinese consumers' authenticity of their brands and building brand images and using differentiated marketing strategies that can induce brand aura.

• The Journal of the Korea Contents Association
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• v.21 no.1
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• pp.407-416
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• 2021

Recently, as retro restaurants began to appear nationwide, including Seoul, consumers are aware of the importance and use them according to the important factors of Servicescape and the use of SNS. The purpose of this study was to investigate the effect of Retro Restaurant's Servicescape and Customer Satisfaction, and the effect of SNS Trust in their relationship. Convenience sampling was used for customers with experience of using Retro Restaurant, which was recently created mainly in Seoul. The survey period lasted about one month from July 1, 2020, and the final 289 copies were used for analysis. The SPSS 21.0 statistical package program was used to verify the hypothesis. As a result of analysis, among the Servicescape factors of Hypothesis 1, attractiveness (β=.442, p<.001) and human service (β=.516, p<.001) had a significant effect on customer satisfaction. In the moderating effect of Servicescape and SNS Trust of Retro Restaurant in Hypothesis 2, attractiveness⁎SNS trust had a significant positive (+) influence. Accessibility⁎SNS trust had a significant negative (-) influence. Lastly, in the fierce food service industry environment, it aims to achieve a competitive advantage in the food service market through a differentiated servicescape such as Retro Restaurant. Through the SNS marketing strategy, the loyalty and re-visiting of customers visiting the restaurant is checked, and it is intended to be provided as useful data for establishing a customer-oriented marketing strategy.

• Journal of Digital Convergence
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• v.18 no.12
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• pp.231-242
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• 2020

Due to fierce market competition and COVID-19, it becomes increasingly important for sharing economic platform companies to develop a long-term relationship with customers. In this regard, this study explores the mechanism of customer's repurchase decision making in the context of Airbnb. This study posits customer satisfaction and brand image as the key factors in forming customer's repurchase intention toward Airbnb. It also investigates the effects of price fairness, authentic experience, enjoyment, Airbnb trust and host trust on customer's repurchase intention. This study validated the research hypothesis with 154 customers using Airbnb. The analysis results showed that both customer satisfaction and brand image have a significant impact on repurchase intention and explain 62.0% of its variance. Enjoyment, true experience, and Airbnb trust had significant effects on customer satisfaction, while price fairness and host trust had no significant impact on it. The results revealed that price fairness, authentic experience, enjoyment, and Airbnb trust are significantly associated with brand image, while host trust is not significantly related to it. The results of this study are expected to provide academic and practical implications by enhancing the understanding of customer's repurchasing decision in the context of sharing economic platform.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.2
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• pp.95-108
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• 2021

Technology innovation activities are very important for companies to secure technological competitiveness and continue to grow. Korea operates a certification system at the national level to promote corporate innovation activities, and strives to enhance SMEs' global technological competitiveness. Among these, the representative system related to technological innovation is the New Excellent Technology (NET) certification. NET is certified through a strict three-stage screening process, and is operated for the purpose of commercialization of new technology, technology trading, and promotion of early market entry by companies. Acquiring NET certification means that the company has a certain level of technological competitiveness. Therefore, this study attempted to conduct an empirical analysis on which technology innovation activities of companies affect the success of R&D projects and improvement of management performance, centering on NET certification system. To verify this, technology strategy, technology planning, systematic R&D process, internal cooperation, and external cooperation activities were set as major variables. As a result of the empirical analysis, it was confirmed that all variables set in this study individually contributed to the success of the R&D project and improvement of management performance. However, when looking at a comprehensive level that considers all variables, it was analyzed that systematic R&D process management and cooperation activities with external organizations have a statistically significant effect on R&D project success, and technology strategy establishment and technology planning activities, which are the initial stages of R&D, have a statistically significant effect on management performance. This study was conducted on innovation-oriented SMEs that have established and operated corporate R&D centers and are actively conducting R&D activities, and multiple regression analysis was used as an analysis method.

• Journal of the Korea Convergence Society
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• v.12 no.3
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• pp.165-176
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• 2021

Recently, interest in home training and changes in lifestyle are expanding the market in the healthcare field, and high value-added fashion products reflecting the dumbbell economy phenomenon are being released. This study had the following objectives: to investigate the possibility of developing a fashion item that can be applied to the dumbbell economy phenomenon; to develop the UI/UX of a smartphone application for beginners who wish to work out their upper and lower bodies regardless of time and space; and to create a wearable customized smart athleisure fashion device. First, the study identified factors related to exercise methods, breathing techniques, and range of exercises for beginners by investigating the postures of workouts of the upper and lower bodies by angles. Based on the results, the study collected empirical data through a user needs analysis from muscle strengthening exercise experts to verify the significance of the study and use as fundamental data. Second, the study developed the UI/UX of a smartphone application with three different contents: counting, suggesting exercise postures, and providing exercise calendars. Further, the study analyzed necessary user-centered concepts and characteristics in terms of design and technology and developed a wearable customized smart athleisure fashion device based on the results.

• Journal of Digital Convergence
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• v.18 no.12
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• pp.243-249
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• 2020

This study analyzes the earnings management that can occur in the process of public offering in the process of SMEs reducing cost of capital, risks and seeking opportunities for direct financing. Since a company is subject to strict supervision during the IPO process, it is possible to prevent the phenomenon that the company value evaluated in the market is underestimated, or to perform earnings management in consideration of overestimation. This study attempted to verify the degree of earnings management through discretionary accruals and actual earnings management values that can affect the earnings ratio of the IPO of a company. For this study, total accruals were calculated and analyzed through discretionary accruals, sales, costs, and actual earnings management adjustments from production activities. As a result of the analysis, discretionary accruals, which are the countermeasures for earnings management during the listing process, have a positive(+) relationship in both the stock price return and the sales adjustment value, which can be viewed as a factor that induces high valuation. As a result of this, there may be a risk of adverse selection for the benefit amount, and information asymmetry may exist for public offering stocks. This study can provide useful guidelines for evaluating corporate value to domestic SMEs and investors that do business with Chinese companies as well as China through the current and type of earnings management of Chinese listed companies.

• Journal of the Korean Society of Marine Environment & Safety
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• v.27 no.1
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• pp.13-21
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• 2021

The purpose of this study is to develop the ship valuation model by utilizing the neural network model. The target of the valuation was secondhand VLCC. The variables were set as major factors inducing changes in the value of ship through prior research, and the corresponding data were collected on a monthly basis from January 2000 to August 2020. To determine the stability of subsequent variables, a multi-collinearity test was carried out and finally the research structure was designed by selecting six independent variables and one dependent variable. Based on this structure, a total of nine simulation models were designed using linear regression, neural network regression, and random forest algorithm. In addition, the accuracy of the evaluation results are improved through comparative verification between each model. As a result of the evaluation, it was found that the most accurate when the neural network regression model, which consist of a hidden layer composed of two layers, was simulated through comparison with actual VLCC values. The possible implications of this study first, creative research in terms of applying neural network model to ship valuation; this deviates from the existing formalized evaluation techniques. Second, the objectivity of research results was enhanced from a dynamic perspective by analyzing and predicting the factors of changes in the shipping. market.

• The Journal of the Korea Contents Association
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• v.21 no.5
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• pp.918-940
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• 2021

In this study, the concept of eXtended Reality Devices(XR) is defined, how it is applied by industry and how it will develop in the future, and based on the expanded integrated technology acceptance theory and innovation resistance, We tried to confirm through empirical analysis how the influencing variables affect. We carry out the analysis of the hypotheses using PLS Structural Equation Modeling. According to the empirical analysis results, this study confirms that innovativeness has a significant effect on UTAUT2's acceptance variables(performance expectation, effort expectation, hedonic motivation, price value) for XR devices, and these variables affect attitudes and acceptance of XR. and the pace of change of XR has a significant effect on perceived risk, and the perceived risk perceived by consumers mediates the pace of change and innovation resistance, and has a significant effect on innovation resistance. and innovation resistance to XR devices had a significant negative effect on acceptance. This study has its meaning because it found out that it deals expansively and comprehensively with personal innovation, the UTAUT2's acceptance variables, and the effects of perceived risk factors mediating the pace of change and resistance to innovation. In addition, it suggests that in order for innovative technologies such as XR to advance to the stage of market expansion, it is important to present strategies to reduce resistance to new technologies as much as the value to be provided to consumers.