• Korean Management Science Review
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• v.14 no.1
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• pp.177-203
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• 1997

This study concerns performance evaluation of the research-funding agencies focused on Korea Science and Engineering Foundation(KOSEF). On the basis of the constituents approach and the systems approach of organizational effectiveness theory, the evaluation items are derived reflecting generic characteristics of the research-funding agencies, and their priorities are determined using analytic hierarchy process(AHP). Three groups of constituents with differing interest and expections are identified, and their perceptions on the importance of the evaluation items are measured through questionnaire survey. Analyses show that the evaluation items perceived important by each constituency are significant different from one another. The implications of the result to the Government and KOSEF are discussed.

• Journal of the Korean Operations Research and Management Science Society
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• v.14 no.1
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• pp.177-177
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• 1989

This study concerns performance evaluation of the research-funding agencies focused on Korea Science and Engineering Foundation(KOSEF). On the basis of the constituents approach and the systems approach of organizational effectiveness theory, the evaluation items are derived reflecting generic characteristics of the research-funding agencies, and their priorities are determined using analytic hierarchy process(AHP). Three groups of constituents with differing interest and expections are identified, and their perceptions on the importance of the evaluation items are measured through questionnaire survey. Analyses show that the evaluation items perceived important by each constituency are significant different from one another. The implications of the result to the Government and KOSEF are discussed.

• Preventive Nutrition and Food Science
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• v.10 no.4
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• pp.382-390
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• 2005

This study evaluated trends in research funding and the present status of food science in Korea with a special emphasis on funding by Korea Science and Engineering Foundation (KOSEF). The proportion of research funds allocated to food science has increased every year in agricultural science. The numbers of group-based programs of KOSEF have been increasing since 1980' and the ratio of individual-based programs decreased in . this-field. Researchers in the food science field ranges. from 46 to 50 years of age, with a mean age of 47. Mid- to long-term research master plans will be required to encourage food science research in Korea.

• East Asian Economic Review
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• v.21 no.1
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• pp.59-80
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• 2017

This paper examines the operational limitations of the Chiang Mai Initiative Multilateralization (CMIM) as a regional financial safety net in East Asia and presents a new regional financial arrangement. To overcome the drawbacks of the Chiang Mai Initiative Multilateralization which has never been activated so far, this study proposes that ASEAN+3 establish a new lending facility, so-called a Reserve Fund Facility, and create a regional common reserves asset. The proposed Reserve Fund Facility framework guarantees lending automaticity of the liquidity facility, based on upfront funding instead of pledge funding. Establishing the Reserve Fund Facility could find a way of making up for weakness of the Chiang Mai Initiative Multilateralization and responding to the regional needs for effective regional financial arrangement. The full-fledged Reserve Fund Facility will ultimately contribute to the future development of East Asia's monetary and financial cooperation beyond the Chiang Mai Initiative Multilateralization.

• The Journal of Information Systems
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• v.27 no.4
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• pp.229-249
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• 2018

Purpose The purpose of this paper is to conduct exploratory comparative research on the determinants of successful crowdfunding projects, focusing on multiple crowdfunding platforms in Korea, U.S., and Japan. Design/methodology/approach This study collected data from three representative crowdfunding platforms: Wadiz (Korea), Kickstarter (U.S.), and Readyfor (Japan). Based on 1,906 crowdfunding projects from Wadiz, 3,864 projects from Kickstarter, and 3,060 projects from Readyfor, multiple regression models were applied. Findings Focusing on the crowdfunding projects which have overly achieved goal amount, the analysis results show that the number of comments, the number of Facebook likes and the number of backers have an positive impact on the performance of crowdfunding projects, while target amount has a negative impact. Comparatively, word counts of project description have an impact on funding performance in U.S. and Japan, while the number of images in project description affects funding performance in Korea and U.S. Meanwhile, video clips in project description has little impact on crowdfunding performance in all of the three funding platforms.

• Asia pacific journal of information systems
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• v.29 no.2
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• pp.283-307
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• 2019

Although crowdfunding has emerged as a promising route to fundraising success, little is known about the specifics of equity-based crowdfunding. Using a data set of 1,111 start-ups with investment funding totaling over $4.67 billion, we analyzed the association between a start-up's underlying characteristics and its funding outcome. We found that a start-up's funding outcome is positively associated with its human capital, but negatively associated with earlier investors' business experience. Furthermore, our analyses revealed that investors have higher levels of social capital are a noise signal to later investors. These findings shed light on the critical role of human capital, investors' experience, and social capital as credible signals for start-up investment in equity crowdfunding.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.3
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• pp.169-183
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• 2019

Should a startup file for a patent subject to imitation in its quest to attract venture capital(VC) investors? Considering the US pharmaceutical biotechnology industry context, this paper attempts to answer this question by investigating the relations between the number of applied patents of startups, patent imitability, and the total amount of money the startups received as their first VC funding round. Data of 157 US-based pharmaceutical biotechnology startups founded in between 1995 and 2005 are analyzed. Empirical results from this study show that the number of applied patents is positively related to the total amount of money received at the time of the first funding round, and patent imitability is negatively related to the total amount of money received as first VC funding round. Nonetheless, the interaction term between the number of applied patents of startups and patent imitability came out as positive, raising interesting questions and implications for innovation-oriented startup entrepreneurs. The current study's empirical findings suggest that, in the pharmaceutical biotechnology sector, VC investors pay attention to the quantity and quality of the patents possessed by startups when they decide the level of funding. In particular, imitability of applied patents may not be a one-sided concept related to negative features such as the weak protectability of an invention. Rather, patent imitability may be a multi-facet element which also contains positive attractiveness of the startup's invention. Furthermore, it seems that the positive side of imitability can be augmented by the number of applied patents.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.4
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• pp.179-190
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• 2019

To alleviate financing difficulties of small and medium sized enterprises (SMEs), the government and municipal governments are providing a variety of SME policy funding programs. This study introduced the policy funding program of Gangwon-do and quantitatively analyzed the financial performance of companies supported by the Gangwon-do SME policy fund in the year 2014. Specifically, we compared the financial ratios for three years, from 2013 to 2015, between funded firms and non-funded firms. In addition, we applied a regression analysis to see if the policy funding program contributed to profitability (the operating profit growth and return on equity), stability (the interest coverage ratio and debt-to-equity ratio), and growth (the asset growth and sales growth) of the funded firms. The empirical results show that the firms that received the policy funds did not show any improvement compared to non-funded firms in terms of profitability, stability, and growth. This suggests that Gangwon-do should improve the policy funding program, that currently provides only an interest amount of 2-4% of the corporate loan principal, without any strategic selection criteria for the target funded firms, and without any follow-up management system, after support.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.2
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• pp.31-46
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• 2019

As the importance of venture firms has increased as a new growth engine, the South Korea government makes various efforts to establish healthy ecosystems for ventures and start-ups. Especially in order to foster the competitiveness of venture firms, various support policies such as financial and R&D expenses are being expanded and promoted. In this study, the author analyzed the impact of government funding on venture firms' internal competencies and management performance by using the resource-based theory. Moreover, this study tested the moderation effect of firm's growth stages. Unlike previous studies, this study focused on qualitative rather than quantitative aspects of internal competencies and the financial and non-financial performance are used to measure the management performance of the ventures to examine the effects of government funding for venture firms in more details. For the purpose of verifying the hypothesis of this research, "The Research On The Precision Status Of Venture Firms" in 2017 from the Ministry of Small and Medium Business was utilized, which has been compiled since 1999. According to the results of this study, the government funding experience did not significantly affect the company's internal competencies and financial performance, but had a significant impact on the non-financial performance, which in turn seemed to have a significant effect on the financial performance. In addition, it was found that the technology, price, design, and quality competencies affected non-financial performance, while the organizational management and marketing competencies did not. However, the price, design, organizational management, and marketing competencies affected financial performance, while the technology competency was not. Finally, there were no differences in the effectiveness of government funding, depending on the growth stages.

• Science & Technology Policy
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• v.6 no.12 s.93
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• pp.15-18
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• 1996