• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.18 no.4
• /
• pp.1-20
• /
• 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
• /
• v.18 no.5
• /
• pp.1-16
• /
• 2023

Due to imbalances in supply and demand within the labor market, start-ups have emerged as crucial players in the generation of high-quality employment opportunities, particularly in stagnant job markets. In response to this trend, governments are allocating substantial financial and human resources to initiatives that support start-up development. This has led to an increasing rate of engagement in start-up ventures across diverse age groups, not limited to younger individuals. Start-ups are enterprises focused on the commercialization of innovative ideas with the aim of achieving profitability in the marketplace. Research concerning the successful market integration of new products and the attainment of sustainable growth is pivotal. Such research is instrumental not only for the success of start-ups but also for realizing the broader social functions and contributions that these enterprises can offer. Previous research has often examined new product market-entry strategies, often referred to as new product marketing, particularly for large companies and SMEs. However, there is a gap in studies focusing on prototype marketing strategies specific to start-ups. Thus, this study aims to examine the impact of Pre-announcing marketing strategies on the market attention garnered by start-ups with low recognition and limited infrastructure, and how such attention contributes to their sustainable growth. Specifically, the study aims to uncover the causal relationship between information attributes like relevance, vividness, and novelty in building customer relationships, and their impact on purchase intentions influenced by performance expectations and hedonic motivations. In terms of Pre-announcing information attributes, relevance, vividness, and novelty positively influence performance expectations and hedonic motivations as outlined in the extended Unified Theory of Acceptance and Use of Technology (UTAUT2). These factors, in turn, positively impact the purchase intention for pre-announced new products from start-ups. These findings are expected to provide both theory and practical insights into the factors influencing market entry through the use of Pre-announcing marketing strategies for start-up new products.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.19 no.4
• /
• pp.69-85
• /
• 2024

Social enterprises, hybrid organizations that blend the logic of the public and market economies, have emerged as an alternative to market failure. However, due to the government-led compressed growth of social enterprises, many social enterprises rely on government financial support, and when the support ends, the survival rate drops significantly and the scale remains at the microenterprise level, raising concerns about the quality growth and sustainability of social enterprises. Therefore, the purpose of this study is to identify the social entrepreneurial orientation that affects the sustainable management performance and to empirically analyze the moderating effect of network utilization capabilities in this process. To achieve the purpose of this study, a questionnaire was distributed to a random sample of member organizations in the metropolitan area, including the Incheon City Small Business Association, the Gyeonggi-do Small Business Association etc. The survey was conducted for about two months and a total of 1,300 questionnaires were distributed and 180 were returned, of which 173 were used for empirical analysis, excluding seven that were not returned. The collected survey data were subjected to structural equation modeling test using Smart PLS ver. 4.1 statistical package. The results showed that entrepreneurial value orientation and social value orientation positively influenced both economic and social performance. Convergent value orientation was only found to have an effect on economic performance, but not on social performance. Finally, the moderating effect of network capabilities was also found, suggesting that social entrepreneurial orientation positively affects organizational performance when social network capabilities are higher.

• Journal of the Korean Geographical Society
• /
• v.30 no.3
• /
• pp.269-295
• /
• 1995

This research is concerned with the social division of labor within the traditional industry district: Damyang bamboo ware industry district and Yeoju pottery industry district in South Korea, Damyang bamboo ware and Yeoju pottery are well known of the Korean traditional industry. The social division of labor in an industry district is considered as an important factor. The social division of labor helps the traditional industry to survive today. This summary shows five significant points from the major findings. First, Damyang bamoo ware industry and Yoeju pottery industry have experienced the growth stages until 1945, the stagnation in the 1960s, and the business recovery in the 1980s. Most Korean traditional industries had been radically declined under the Japanese colonization; while, Damyang bamboo ware industry and Yeoju pottery industry district have been developed during above all stages. The extended market to Japan helped the local government to establish a training center, and to provide financial aids and technical aids to crafts men. During the 1960s and 1970s, mass production of substitute goods on factory system resulted in the decrease of demand of bamboo ware and pettery. During the 1980s, these industries have slowly recovered as a result of the increased income per capita. The high rate of economic growth in the 1960s and 1970s was playing an important role in the emerging the incleased demand of the bamboo ware and pottery. Second the production-and-marketing system in a traditional industry district became diversified to adjust the demand of products. In Damyang bamboo ware industry district, the level of social division of labor was low until the high economic development period. Bamboo ware were made by a farmer in a small domestic system, The bamboo goods were mainly sold in the periodic market of bamboo ware in Damyang. In the recession period in the 1960s and 1970s, the production-and-marketing system were diversified; a manufacturing-wholesale type business and small-factory type business became established; and the wholesale business and the export traders in the district appeared. In the recovery period in the 1980s, the production-and-marketing systems were more diversified; a small-factory type business started to depend On subcontractors for a part of process of production; and a wholesale business in the district engaged in production of bamboo ware. In Yeoju pottery industry district, the social division of labor was limited until the early 1970s. A pottery was made by a crafts man in a small-business of domestic system and sold by a middle man out of Yeoju. Since the late 1970s, production-and-marketing system become being diversified as a result of the increased demand in Japan and South Korea. In the 1970s, Korean traditional craft pottery was highiy demanded in Japan. The demand encouraged people in Yoeju to become craftsmen and/or to work in the pottery related occupation. In South Korea, the rapid economic growth resulted in incline to pottery due to the development of stainless and plastic bowls and dishes. The production facilities were modernized to provide pottery at the reasonable price. A small-busineas of domestic system was transformed into a small-factory type business. The social division of labor was intensified in the pottery production-and-maketing system. The manufacturing kaoline began to be seperated from the production process of pottery. Within the district, a pottery wholesale business and a retail business started to be established in the 1980s. Third the traditional industry district was divided into "completed one" and "not-completed one" according to whether or not the district firms led the function of the social division of labor. The Damyang bamboo ware industry district is "completed one": the firm within the district is in charge of the supply of raw material, the production and the marketing. In the Damyang bamboo ware district, the social division of labor w and reorganized labor system to improve the external economics effect through intensifying the social division of labor. Lastly, the social division of labor was playing an important role in the development of traditional industry districts. The subdivision of production process and the diversification of business reduced the production cost and overcame the labor shortage through hiring low-waged workers such as family members, the old people and housewives. An enterpriser with small amount of capital easily joined into the business. The risk from business recession were dispersed. The accumulated know-how in the production and maketing provided flexiblility to produce various goods and to extend the life-cycly of a product.d the life-cycly of a product.

• Journal of Intelligence and Information Systems
• /
• v.24 no.2
• /
• pp.195-220
• /
• 2018

In this study, we conducted an empirical analysis of the factors that affect the change of Bitcoin Closing Price. Previous studies have focused on the security of the block chain system, the economic ripple effects caused by the cryptocurrency, legal implications and the acceptance to consumer about cryptocurrency. In various area, cryptocurrency was studied and many researcher and people including government, regardless of country, try to utilize cryptocurrency and applicate to its technology. Despite of rapid and dramatic change of cryptocurrencies' price and growth of its effects, empirical study of the factors affecting the price change of cryptocurrency was lack. There were only a few limited studies, business reports and short working paper. Therefore, it is necessary to determine what factors effect on the change of closing Bitcoin price. For analysis, hypotheses were constructed from three dimensions of consumer, industry, and macroeconomics for analysis, and time series data were collected for variables of each dimension. Consumer variables consist of search traffic of Bitcoin, search traffic of bitcoin ban, search traffic of ransomware and search traffic of war. Industry variables were composed GPU vendors' stock price and memory vendors' stock price. Macro-economy variables were contemplated such as U.S. dollar index futures, FOMC policy interest rates, WTI crude oil price. Using above variables, we did times series regression analysis to find relationship between those variables and change of Bitcoin Closing Price. Before the regression analysis to confirm the relationship between change of Bitcoin Closing Price and the other variables, we performed the Unit-root test to verifying the stationary of time series data to avoid spurious regression. Then, using a stationary data, we did the regression analysis. As a result of the analysis, we found that the change of Bitcoin Closing Price has negative effects with search traffic of 'Bitcoin Ban' and US dollar index futures, while change of GPU vendors' stock price and change of WTI crude oil price showed positive effects. In case of 'Bitcoin Ban', it is directly determining the maintenance or abolition of Bitcoin trade, that's why consumer reacted sensitively and effected on change of Bitcoin Closing Price. GPU is raw material of Bitcoin mining. Generally, increasing of companies' stock price means the growth of the sales of those companies' products and services. GPU's demands increases are indirectly reflected to the GPU vendors' stock price. Making an interpretation, a rise in prices of GPU has put a crimp on the mining of Bitcoin. Consequently, GPU vendors' stock price effects on change of Bitcoin Closing Price. And we confirmed U.S. dollar index futures moved in the opposite direction with change of Bitcoin Closing Price. It moved like Gold. Gold was considered as a safe asset to consumers and it means consumer think that Bitcoin is a safe asset. On the other hand, WTI oil price went Bitcoin Closing Price's way. It implies that Bitcoin are regarded to investment asset like raw materials market's product. The variables that were not significant in the analysis were search traffic of bitcoin, search traffic of ransomware, search traffic of war, memory vendor's stock price, FOMC policy interest rates. In search traffic of bitcoin, we judged that interest in Bitcoin did not lead to purchase of Bitcoin. It means search traffic of Bitcoin didn't reflect all of Bitcoin's demand. So, it implies there are some factors that regulate and mediate the Bitcoin purchase. In search traffic of ransomware, it is hard to say concern of ransomware determined the whole Bitcoin demand. Because only a few people damaged by ransomware and the percentage of hackers requiring Bitcoins was low. Also, its information security problem is events not continuous issues. Search traffic of war was not significant. Like stock market, generally it has negative in relation to war, but exceptional case like Gulf war, it moves stakeholders' profits and environment. We think that this is the same case. In memory vendor stock price, this is because memory vendors' flagship products were not VRAM which is essential for Bitcoin supply. In FOMC policy interest rates, when the interest rate is low, the surplus capital is invested in securities such as stocks. But Bitcoin' price fluctuation was large so it is not recognized as an attractive commodity to the consumers. In addition, unlike the stock market, Bitcoin doesn't have any safety policy such as Circuit breakers and Sidecar. Through this study, we verified what factors effect on change of Bitcoin Closing Price, and interpreted why such change happened. In addition, establishing the characteristics of Bitcoin as a safe asset and investment asset, we provide a guide how consumer, financial institution and government organization approach to the cryptocurrency. Moreover, corroborating the factors affecting change of Bitcoin Closing Price, researcher will get some clue and qualification which factors have to be considered in hereafter cryptocurrency study.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.8 no.2
• /
• pp.129-139
• /
• 2013

This paper is targeted on proposing ameliorating alternative to performance assessment method of GSEM through evaluating the current one, which is initiated by SMBA to induce fair competition among 5 GSEM across the country and accommodate the quality improvement of entrepreneurship education since 2005 after beginning the SMBA support, from the perspective of BSC(Balanced Scorecard) tool. Ultimately, it complements the policy defects of SMBA over GSEM, in particular, in the process of performance assessment and management. This paper carries out two studies as follow. First, throughout reviewing the previous studies relating to BSC applications to non-profit organization, it set out the direction of introducing BSC in assessing performance of GSEM in order to enhance its effectiveness. Second, it evaluate the rationality of performance assessing tools apllied to GSEM by SMBA on the basis of BSC application over non-profit organization, especially in education institution. Research results shows the following implications. First, the current evaluation system over GSEM is just merely assessment itself and not much contributions for the post performance management. Second, The annual evaluation just remains to check up whether the policy goals are met or not. Third, the current evaluation puts much emphasis just on financial inputs and hardware infra, not considering human resources and utilization of government policy and institution. Fourth, the policy goals are unilaterally focused on entrepreneurs. Fifth, the current evaluation systems do not contain any indexes relating to learning and growth perspectives for concerning sustainable and independent growing up. However, lack of empirical testing require this paper to need the further study in the future.

• KSCE Journal of Civil and Environmental Engineering Research
• /
• v.4 no.4
• /
• pp.113-125
• /
• 1984

Water supply has been mainly dependent on the construction of the dams in Korea. It is difficult, however, to continue to construct dams for many reasons, such as the decrease of construction sites, the increase of construction costs, the compensation of residents in flooded areas, and the environmental effects. Water demands have increased and are expected to continue increasing due to the concentration of people in the cities, the rise of the living standard, and rapid industrial growth. It is acutely important to find countermeasures such as development of ground water, desalination, and recycling of waste water to cope with increasing water demands. Recycling waste water includes all means of supplying non-potable water for their respective usages with proper water quality which is not the same quality as potable water. The usages of the recycled water include toilet flushing, air conditioning, car washing, yard watering, road cleaning, park sprinkling, and fire fighting, etc. Raw water for recycling is obtained from drainage water from buildings, toilets, and cooling towers, treated waste water, polluted rivers, ground water, reinfall, etc. The water quantity must be considered as well as its quality in selecting raw water for the recycling. The types of recycling may be classified roughly into closed recycle systems and open recycle systems, which can be further subdivided into individual recycle systems, regional recycle systems and large scale recycle system. The treatment methods of wastewater combine biochemical and physiochemical methods. The former includes activated sludge treatment, bio-disc treatment, and contact aeration treatment, and the latter contains sedimentation, sand filtration, activated carbon adsorption, ozone treatment, chlorination, and membrane filter. The recycling patterns in other countries were investigated and the effects of the recycling were divided into direct and indirect effects. The problems of water reuse in recycle patterns were also studied. The problems include technological, sanitary, and operational problems as well as cost and legislative ones. The duties of installation and administrative organization, structural standards for reuse of water, maintenance and financial disposal were also studied.

• Journal of Plant Biotechnology
• /
• v.42 no.2
• /
• pp.71-76
• /
• 2015

Developed countries have set seed industry as a new growth engine, which demands strong support from the government. Multinational seed companies such as Monsanto and DuPont have made huge financial investment to secure their major roles in the global market. To spur domestic seed industry performance, Korean government laid out the foundation for developing seed industry through policy promotion in the late 2000s. In this paper, I look at the current state of the domestic and international seed market to provide information for improving the efficiency of the propulsion of the Golden Seed Project (GSP) along with its vision. The increasing size of global giant companies has been regarded to monopolize the world seed industry wherein ten renowned companies occupy 73% of the overall global market. In effect, this causes a price hike due to limited seed choices. Domestic seed market has been stuck in a range due to a sustained low agricultural production resulting in decreased seed demand and market size. Though breeding technologies for rice and vegetables are world-class, the technologies for top global crops such as cabbage, paprika, and forage are insufficient therefore professionals in this field are not easily employed. Moreover, there is a lack in appropriate infrastructure set up in the universities which adds to ineffective training of professionals. Being a key-supporting industry for agriculture, seed industry should be granted with strong and sustainable investment support from the government. In view thereof, GSP, which started in 2012, ambitions to spur researches outlined by excellent professionals in universities and seed companies aimed to drive seed export volume and quality and attain domestic seed self-sufficiency through adoption of export- and import-substitution seed types (10 varieties each) development strategies. To develop Korea's seed industry excellent achievement of GSP's goals should be drawn successfully and to do this beside development of high quality seeds, support programs for promotion of seed exports are also needed.

• Korean Security Journal
• /
• no.30
• /
• pp.85-115
• /
• 2012

The private security industry has expanded in proportion to economic developments throughout the world, largely because the existing security services provided by the government do not satisfy demands of various economic entities and people in the society for better security service. Therefore, it would not be unfair to say that security services by private sectors are decided by its quality, price, and customers' needs. A refined management system, however, is essential to assess qualification of security companies and their service quality, given the nature of public goods of security service. Despite the steady growth of private security industry in Korea, however, it has been continuously criticized that its security management system for better qualification of security guards, training, and private security companies have not been fully updated enough to guarantee good quality. This paper aims to gain insights to effective policy formation in the Korean private security industry, through reviewing the licensing system of private security guards and the Approved Contractor Scheme (hereinafter the ACS) in the UK- that has on one hand systematically regulated private security industry, but on other hand has enforced public-private cooperation by laying significant stress on autonomy of private security companies. The distinctive characteristic of the UK policy for the private security is that the Security Industry Authority (hereinafter the SIA), an independent authority, is leading development of the private security industry of the UK through specialized private security regulation and enhanced service quality. In addition, the UK is developing quality of security service with transparent financial management and recruitment of good quality security guards by adopting not only substantially specified regulations and standards, but the voluntary ACS system. Moreover, the SIA analyzes customers' demands for security service specializing the policy for private security through conducting a variety of surveys. With the analysis of the UK private security system, this paper suggests that the Korean government change from a non-specialized private security regulation system by the National Police Agency to an independently specialized private security authority like the SIA and adopt the compulsory licensing and the ACS system of the UK.

• 대한공업교육학회지
• /
• v.45 no.2
• /
• pp.21-45
• /
• 2020

The purpose of this study was to verify how the vocational education for training industrial workforce as a national human resource development (NHRD) system has undergone a transition process in relation to the national economic, industrial, and socio-cultural contexts. First, how vocational education as an industrial workforce training system has changed in accordance with Korea's economic environment, industrial development, and social changes; second, what are the main factors that influenced the role and importance of vocational education; and third, vocational education as a system for training industrial workforce and training workforce in science and engineering were analyzed differently from the perspective of the NHRD model. To this end, domestic and international academic journal papers, research reports, and thesis were investigated and classified by period, and major changes in vocational education were analyzed in relation to economic, industrial, and social issues and policies by period. As a result of the research, first, as the industry advanced, the level of vocational education increased and the scope expanded. Second, vocational education tended to shrink gradually after the manufacturing industry base, and especially secondary vocational education tended to decline after the national industry focused on light industry. Third, since the 1970s, the diversification of the NHRD and jobs has resulted in wage gaps depending on the level of education, which has increased the preference for university education and avoided secondary vocational education. In addition, a NHRD model focusing on training science and engineering workforce was proposed to compare the existing NHRD model focusing on overall vocational education, and it was revealed that the NHRD needs to be subdivided into various fields or levels to derive a model and examine changes. From the results of the study, vocational education in Korea, especially in secondary vocational education, has declined due to large impacts on socio-cultural perception due to economic growth, enthusiasm for education, and external shocks such as the financial crisis, and the long-term effort to change this perception is suggested to overcome the crisis of vocational education.