• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.4
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• pp.13-22
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• 2018

In this study, we examined the accuracy of the assessment items for selecting start-ups used in the project to support start-ups and verified their validity in determining whether they are appropriate assessment items based on selection criteria. The results of 973 start-ups that applied for the project fostering startup leading universities were collected and logistic regression was performed using SPSS 18.0. The study results are summarized as follows. First, the differences in characteristics of start-ups were identified in terms of selection. Second, the impact of selection by assessment items was gender in 2015, capability of the founder, business establishment in 2016, performance and potential in the global market, and business startup in 2017. Third, the overall selection accuracy analysis for the last three years confirmed that the accuracy of the selection is lower each year and that the accuracy of the selection is lower than the accuracy of the non-selection. This means that the current assessment items for selecting start-ups are inaccurate for selection, and that changes in the items due to changes in the start-up environment each year have led to lower accuracy of selection. It is meaningful that this study raised the importance of assessment items and the need for improvement of assessment items for the screening functions of good start-ups to enhance efficiency of the policies for startup support.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.10 no.2
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• pp.97-105
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• 2015

This study aims to investigate the impacts of small venture firms' capabilities on their international performance and the role of environmental dynamics in these relationships. Specifically, the study examines how international marketing, technology, and network capabilities of small venture firms influence their international performance and how market and technology turbulences moderates these relationships. Employing 162 small venture firms in Korea, the result of multiple regression analysis found that marketing capability did not affect international performance while technology and network capabilities had positive, significant impacts on international performance. Market turbulence was found to have a negative moderation effect on the relationship of network capability and international performance. Technology turbulence had a negative moderation effect on the relationship of technology capability and international performance and a positive moderation effect on the relationship of network capability and international performance. The findings confirm the importance of capabilities in improving the international performance of small venture firms and generate strategic implications for their international success by emphasizing the effect of environmental dynamics.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.4 no.1
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• pp.89-111
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• 2009

Since the financial crisis in 1997, the Korean economy has a steady increase of people who tend to establish their own business by 2008. Business foundations can be divided into independent businesses and franchise businesses. This study focuses on what type of business owners among franchise enterprisers can achieve success. This is intended to reduce trial and error by drawing upon success factors in the stages of establishment, operation, and achievement based on a total sample of 350 individual business sites. The result shows that the success factors in the stage of establishment include (1) Preparation such as foundation education (2) Marketing capability (3) Appropriateness of Business Item (4) Other founder's entry barrier, conglomerate's entry regulation and (5) Head Office Support including service education, market survey education, marketing support. On the other hand, the success factors in the stage of operation include the supervisor capability, Marketing capability, Head Office Support, Customer Management Capability and Employee Satisfaction. Additionally after choosing the major factors according to each stage, multiple regression analysis was processed and interpreted. Finally, we believe that the franchise or independent business foundations can make a profit as well as increase continuous sales and customer satisfaction only with thorough and careful preparation in all stages of foundation and operation. This study is expected to contribute to those who prepare new business in franchise domain to minimize failures with deep consideration of the success factors in the franchise.

• 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.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.4
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• pp.73-86
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• 2022

Interest and investment in agri-food ventures is increasing worldwide. Agri-food venture startups are also increasing in Korea, but there are constraint factors due to industrial characteristics, and infrastructure and investment for growth are insufficient. This study confirmed the effect of technology commercialization capability and competitive strategy on the growth prospects of agri-food venture companies and the mediating effect of business model innovation. And, through comparison with previous studies, the industrial characteristics were identified by confirming the difference between all venture companies and agri-food ventures. For this, only agri-food ventures data were extracted from the original data of the Research on the Precision Status of Venture Firms 2021. And empirical analysis was conducted. As a result, manufacturing capability, cost leadership and product differentiation had a positive(+) effect on growth prospects. The mediating effect of business model innovation between manufacturing capacity, product differentiation and growth prospects was verified. Through the research results, factors affecting the long-term growth prospects of agri-food ventures were identified in consideration of industrial characteristics. In addition, practical implications in connection with business model innovation of agri-food ventures were presented. In future research, it is necessary to develop an objective measurement tool and to conduct a detailed analysis according to business history and company size.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.6
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• pp.365-378
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• 2020

The study aims to develop concepts originating through empirical research models to build superior competitiveness and optimal performance achievement. Therefore, to bridge these goals, the study addresses several indicators/items as a novelty, namely, entrepreneurship insight factors, market orientation, knowledge-sharing, innovation, managerial capability, product strategy, process and service improvement, resources capability to improve performance and increase competitiveness by empirical model direct, mediating and indirect effect. The total sample in this study is 497 eligible SMEs that partner with go-food in Makassar City. All research samples are the owner or the person in charge of the business; the data collection period is from May to December 2019. Data are collecting using a survey with 64 construct questions, summarized in seven manifest variables. The research method uses quantitative tools, with SMART-PLS as a statistical tool. This study develops sixteen hypotheses; all of the hypotheses are supported both directly, indirectly, and mediated. The study also found that the link based on CCT, RBV, and TAM Theory is the right choice of theories, as the foundation of this study was very reliable and valid. Indeed, all of the grounded methods have implications both in theory and its main application for the business in the online marketplace.

• Journal of Korea Technology Innovation Society
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• v.9 no.4
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• pp.812-841
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• 2006

Previous studies have shown that the ex-ante financial ratios, mainly used by financial institutions for loan evaluation purpose, are related to the ex-post finn's performance of venture firm's. The main objective of this study is to examine whether non-financial variables such as 'technology', 'marketability', and 'other business indexes' have extra explanatory power in forecasting the ex-post firm's performance of small and medium size venture firm's in Korea. The implications and results of this study are expected to be useful in loan evaluation, investment decision and internal management decisions of venture firms. Among small and medium sized manufacturing firms funded in the year of 1999 through 2005, 416 firms are selected for our analysis. The relationship between evaluation indexes and firm's success/failure is investigated using binary logistic regression analysis and factor analysis with an aid of SPSS program. The summarized results are as follows. First, current evaluation model, used for loan evaluation purpose for small and medium size manufacturing firms show the same discriminatory power as previous prediction model. Second, among the tested additional variables, significant indices are 'technological capability of CEO', 'managerial capability of CEO', and 'business feasibility'. Third, while previous studies on evaluation structure had 3 factors, this study showed that valuation's structure has 6 factors.

• 대한공업교육학회지
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• v.31 no.2
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• pp.83-110
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• 2006

A change in industrial education has been demanded with the emergence of rapidly changing knowledge-based society. Keeping pace with the current trend, the Specialized High Schools should analyze what their students need and suggest what they should do to be qualified for work. Even though the education paradigm is in the process of change from traditional industrial society to knowledge-based society, the Specialized High School still focuses on the out-of-trend traditional curriculum. Now, it's a time to introduce new curriculum which analyzes on-the-spot tasks and enhances students' creativity and capability to solve problems. For this study, new '3-Type school curriculum' models are examined. Furthermore, the on-the-spot based curriculum, which nurtures students' creativity and capability to take care of things should be adopted. This paper showed a direction toward the activation and generalization of the industrial education by specifying to which direction the 3-type curriculum-based the Specialized Vocational High School should move.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.5
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• pp.79-92
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• 2019

When asked about the success factors of successful entrepreneurs and celebrities, he says he was lucky. The remarkable fact is that the attitude about luck is different. However, despite the fact that the belief that we believe is lucky is actually a dominant concept, there has not been much scientific verification of luck. In this study, we saw good luck not being determined randomly by the external environment, but by being able to control luck through the internal attributes of individuals. This study is significant that we have empirically elucidated what kind of efforts have gained good luck, whereas previous research has largely ended in vague logic where luck ends up with an internal locus of control among internal entrepreneurial qualities and efforts can make a successful entrepreneur. We introduced the concept of good luck belief to avoid confirmation bias, which is, to interpret my experience in a direction that matches what I want to believe, and used a good luck belief questionnaire in previous studies and tried to verify that those who have a good belief can increase entrepreneurial opportunity capability through planned happenstance skills. The reason for choosing the entrepreneurial opportunity capacity as a dependent variable was based on the conventional research, that is, the process of recognizing and exploiting the entrepreneurial opportunity is an important part of the entrepreneurship research For empirical research, we conducted a questionnaire survey of a total of 332 people, and the results of the analysis turned out that the belief of good luck has all the positive impacts of planned happenstance skills' sub-factors: curiosity, patience, flexibility, optimism and risk tolerance. Second, we have shown that only the perseverance, optimism, and risk tolerance of planned happenstance skills' sub-factors have a positive impact on this opportunity capability. Thirdly, it was possible to judge that the sub-factors of planned happenstance skills, patience, optimism, and risk tolerance, had a meditating effect between belief in luck and entrepreneurial opportunity capability. This study is highly significant in logically elucidating that people in charge of business incubation and education can get the specific direction when planning a training program for successful entrepreneur to further enhance the entrepreneurial opportunity ability, which is an important ability for the entrepreneur's success.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.1
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• pp.85-106
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• 2023

This study reviewed and derived the success factors of overseas agricultural startups and studied their integrated research model. Agricultural startups and general startups have in common that poor resources and infrastructure exist from a resource-based perspective after startup, but a differentiated approach from general startups is required due to the nature of the primary industry of agriculture. In this study, we approach the company internal factors (human resources/vision/distribution network capacity/capital capacity/cultivated crops/physical resources/farming technology, etc.) and external factors (agricultural infrastructure/laws/regulations/relationship with surrounding society, etc.) We tried to build a research model that can be integrated by focusing on various existing research models, success factors, and entrepreneurship. Through this, it is intended to present an integrated model that is practically helpful to business performance to entrepreneurs, business-related persons, and researchers who need an integrated understanding of agricultural startups at home and abroad. made for purpose In this paper, a standard model was established through three types (existing agricultural startup, small and medium-sized business startup, multinational company, and comprehensive approach) according to size and characteristics for modeling agricultural startup success factors. Through this, a total of 9 success factors (agricultural management, external environment, manager/founder characteristics, corporate identity, business management, organizational culture, infrastructure, commercialization capability, and sustainable growth) were derived. The implication of this study is that the success factors of agricultural startups were comprehensively presented based on 'entrepreneurship' for various domestic and foreign agricultural startup cases. By confirming the systematic categorization, a standard model for future agricultural startup success factors was presented, and as a result, a foundation was presented for systematic research and practical effectiveness of related research in the future.