• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.5
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• pp.41-54
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• 2018

In recent years, as interest in youth startup has increased, the Korean government has established various policies to support young entrepreneurs and actively implements such policies. Especially, as a way to promote youth startup, the development of startup clubs in universities is being suggested, and the importance of startup clubs is growing day by day. As reflected in these points, the Korean government is increasing its budget every year to support the startup clubs of universities, and actively supports the funds and space required for the startup clubs of universities. Unfortunately, however, despite the growing importance of startup clubs and the active support of the government for the startup clubs, academic attempts to see how effectively the startup clubs are operating are not enough. For this reason, this study analyzes the effect of entrepreneurship of university start-up club members on the effectiveness of start-up club. More specifically, in this study, entrepreneurship of club members is classified as risk-taking propensity, proactiveness, and innovativeness, as emphasized in previous researches. We empirically analyzed the effects of these independent variables on the effectiveness of the start-up clubs, focusing on the moderating effect of club members' diversity. We conducted empirical analyses on 1112 start-up club members from 12 universities located in Jeollanam-do and Jeollabuk-do, and the analysis results are as follows. First, the entrepreneurship of the start-up club members, namely risk taking propensity, proactiveness and innovativeness, all have a positive effect on the effectiveness of the start-up club. These results are consistent with the emphasis of many previous studies. The higher the tendency to take risks, the more inclined to move forward through difficulties, and the higher the tendency to break out of the existing framework and pursue new things, suggesting that the effectiveness of the club is enhanced. Second, as a result of verifying the moderating effect of the club members' diversity, it was found that club members' diversity moderates the relationship between the proactiveness of club members and club effectiveness in the negative (-) direction. In other words, the positive effect of the entrepreneurship of club members on the effectiveness of the start-up club means that the proactiveness is weakened in the case of a club having members from different major backgrounds. The results of this study are expected to provide meaningful theoretical and practical implications by identifying the influencing factors of the start-up club's effectiveness, which has not received much attention so far.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.5
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• pp.1-16
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• 2018

The Ministry of Agriculture, Forestry and Fisheries prepared the sixth industrialization certification system to increase the added value in the agricultural sector, but it is a bit hard to judge that the system has been in the stage of creating sufficient added value. In particular, because of the Fourth Industrial Revolution, there is a significant change in all industry sectors, including innovation in technology, and the change of perception among the society members is being rapidly changed toward the corporate sector's social role. Thus, we surveyed companies that received the sixth industrialization enterprise certificate to address this phenomenon and find clues on how to be competitive. We selected 800 companies certified by the Ministry of Agriculture, Forestry and Fisheries as sixth industrialization enterprises as our study samples. Among them, we subjected 275 respondents to a final analysis upon eliminating incomplete responses. The result of the study revealed that entrepreneurship, including autonomy that reflects the characteristics of the certified companies, had a significant positive impact on economic value. Moreover, with the size of the companies certified as the sixth industrialization enterprise and the industry trend toward the innovative Fourth Industrial Revolution considered, the strategic orientation including the customer orientation to intensively focus on customer needs and the technology orientation to accept technology as a competitive sector even in the agricultural industry was found to have a significant positive effect on economic value. Strategic orientation demonstrated a significant positive effect on social value. Entrepreneurship demonstrated a significant positive effect on economic values but did not significantly affect the social value. Lastly, while strategic orientation has demonstrated that no mediation effect resulted due to a high direct effect between entrepreneurship and economic value, a complete mediation effect occurred between entrepreneurship and social value. Based on this study, if the companies that received the sixth industrialization enterprise certificate are equipped with not only entrepreneurship but also strategic orientation for customer-oriented thinking and response to technological changes, they can become an influential element in creating not only economic value but also social value, which is emphasized as an element of sustainability.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.3
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• pp.33-46
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• 2020

This study analyzes the entrepreneurship education phenomena for agri-food entrepreneurs whose main business is the production of agricultural products and the sale of processed products, using the qualitative study Strauss & Corbin(1998)'s evidence theory approach. From the entrepreneur's point of view, I would like to summarize the phenomena that appear in education, and to prepare a theoretical basis for explaining the phenomena. The importance of entrepreneurship education is emphasized to cultivate the ability to develop and provide products tailored to customers. The necessity of education leads to an increase in demand according to the situational awareness of the founders, and the quantitative increase in entrepreneurship education in the agri-food sector is a clear trend. Inevitably, the need for various discussions on systematic and effective entrepreneurship education is raised. For the study, an interview was conducted with preliminary or entrepreneur who have experienced entrepreneurship education in the agri-food sector. As a research method, I use Strauss & Corbin(1998)'s approach and analyze qualitative data using QSR's NVIVO 12 program. Through this study, it was found that contextual and systematic entrepreneurship education in the agri-food sector has the effect of strengthening competitiveness and strengthening sales. There is a need for follow-up management of trainees. Strengthening the competitiveness of start-ups is based on training professional manpower through education and linking regions with cities. Strengthening sales is based on product planning and market development. This study explores entrepreneurship education in the agri-food sector, which has not been actively conducted in the past. Exploratory analysis on the experiences of the founders of agri-food sector as education demanders has an important meaning for understanding the phenomenon of start-up education.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.3
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• pp.175-189
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• 2020

While there have been many previous studies showing that an entrepreneur's personal characteristics have a significant impact on his intention to start a business, there was relatively little research on the inherent mechanisms for this. Recent researches show that entrepreneur's personal characteristics affect the entrepreneurial intention through entrepreneurial attitude and perceived behavioral control, rather than directly. This study carried out empirical research on 233 Chinese university students on what personal characteristics affect the entrepreneurial intention of Chinese university students, who are actively engaged in start-up activities recently. Based on the theory of planned behavior, we set entrepreneurial attitude and perceived behavioral control as important variables that shape the entrepreneurial intention and formed a model and hypotheses that personal characteristics of a potential entrepreneur(leadership, planning, innovation, sociality) affect the entrepreneurial intention through these two variables. We verified these hypotheses by regression analysis and structural equation model. The analysis confirmed that for Chinese university students the entrepreneurial attitude and perceived behavioral control were important antecedent variables that shape the entrepreneurial intention. It was also shown that leadership and innovation have a positive influence on the entrepreneurial attitude, while leadership and planning raise the level of perceived behavioral control. As a result, leadership forms the entrepreneurial intention through the entrepreneurial attitude and perceived behavior control, and innovation affects the entrepreneurial intention through the entrepreneurial attitude, while planning affects the entrepreneurial intention through perceived behavior control. Therefore, entrepreneurship education that emphasizes leadership, innovation and planning is required for Chinese college students as a potential entrepreneur. These three factors could also be important personal characteristics when choosing a potential entrepreneur.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.12 no.4
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• pp.145-157
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• 2017

SMEs play an important role in the domestic economy. Regarding competency to respond flexibly to unpredictable changes, agility of SMEs is more emphasized. Entrepreneurship orientation is an important factor in the source of SMEs that enable such competency. Entrepreneurial orientation refers to the tendency of a CEO or a member of a corporation to be innovative, risk-taking, and active in the face of various market opportunities. In other words, it refers to the tendency to be expressed in the activities of the entire company without regard to specific technologies or industries. Entrepreneurial orientation has a direct or indirect effect on business performance. Therefore, in this study, we conducted theoretical and empirical studies on the effect of entrepreneurial orientation of SME managers on business performance. Research hypotheses were derived through theoretical research. We focused on the mediating effect of innovation activity and tried to identify the mechanism that entrepreneurial orientation leads to business performance through product innovation and service innovation activity. We investigated whether innovativeness, proactiveness, and risk-taking, which are sub-variables of entrepreneurial orientation, affect business performance through product innovation and service innovation. We conducted a survey of SMEs in Busan and Kyungnam regions to examine the research hypotheses. The results show that product innovation and service innovation have mediating effects. The results of the study are as follows. Product innovation has mediating effect of innovativeness and risk-taking on business performance. Service innovation has been found to mediate innovativeness, proactiveness, and risk-taking on business performance. There was a difference in the mediation effect between the two innovations. Product innovation showed a low mediating effect and a large direct effect. On the other hands, service innovation is relatively more mediating than product innovation. The implications of the research results are derived in relation to the essential differences between product innovation and service innovation. Limitations of the study and directions for future research are presented.

• 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.14 no.5
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• pp.61-78
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• 2019

This study is about the effect of the founder's self-efficacy on the sales of the founding company by focusing on the factors that are currently emphasized in the founding education. In particular, this paper starts from the consciousness of the problem that the education that is being implemented to achieve the purpose of successful start-up among various government-based start-up support projects is failing to produce many start-up failures. Entrepreneurs cannot be assessed by objective financial data, but there is a high degree of uncertainty that should be determined based on their personal and learning abilities. In addition, many previous studies, which are likely to be successful when there is a high self-efficacy in a specific field due to the influence of factors such as personal experience or learning, will answer the direction of support for start-up companies. This study focuses on the impact of the founder's self-efficacy on the sales of the founding firms, especially the sales that are the key to the survival of the founding firms. This study has six major studies. First, to analyze whether the self-efficacy of entrepreneurs with respect to entrepreneurship affects the sales of entrepreneurs. Second, to analyze whether the self-efficacy of entrepreneurs with respect to market orientation affects the sales of entrepreneurs. Analysis of whether the founder's self-efficacy affects the sales of the founding firms. Fourth, analysis of whether the founder's self-efficiency affects the sales of the founding firms' understanding of management environment changes. An analysis of whether efficacy affects the sales of a start-up company, and sixth, an analysis of whether the founder's self-efficacy of business model building ability affects the sales of a start-up company. As a result of the empirical analysis, this study found that the self-efficacy of entrepreneurs on product differentiation capability and business model building capacity had a positive influence on the sales of entrepreneurs. The self-efficacy had a positive effect on self-efficacy, and the customer orientation had a positive effect on self-efficacy on business model building capacity. Also, it was confirmed that a path exists between the components of self-efficacy and that self-efficacy through the path has a positive effect on the sales of the start-up company. Therefore, the results of this study suggest the implications of establishing such a path and strengthening self-efficacy to create the survival and start-up performance of a start-up company if the goal of the start-up company is to survive when implementing various support projects for the start-up company.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.5
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• pp.93-104
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• 2019

The entrepreneurship can be a source of national growth potential as behavioral tendencies of people who seek innovation, take risks of failure, and proactively respond to opportunities. In particular, in the economic situation of Korea where growth has been stagnated, it is necessary to strengthen the entrepreneurship of women which is relatively lower than men's in order to activate the start-up and economic participation of the whole people. In this regard, this study focuses not only on gender differences in entrepreneurship but also on the hidden impact of social contexts that cause gender differences in entrepreneurship. Specifically, this study examined the moderating effects of childbirth, a factor that reflects the social context of Korea in the relationship between gender and entrepreneurship. According to the results of the model that includes the interaction effect of these variables in addition to the independent effects of gender and childbirth, the gender effect disappeared, while the significant effect of both the childbirth variable and the interaction variable of gender and childbirth were confirmed. Furthermore, according to additional analysis, which identified the differences in entrepreneurship by creating four types of treatment groups based on gender and childbirth status, entrepreneurship was significantly lower in the 'female and childbirth' group than in all other groups. The difference between the remaining treatment groups was not statistically significant. These results indicate that differences in entrepreneurship levels between men and women overlap not with the unique trait of men and women, but with the social contextual effects of Korea, where women are under the full burden of childbirth and parenting. This study suggests implications that effective policy measures to promote women's entrepreneurship or economic activity should be taken by taking into account the social context of Korea that suppresses women's entrepreneurial behavior.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.4
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• pp.25-58
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• 2021

This study investigated the corporate growth with more emphasis on longitudinal characteristics, not the results of companies with relatively more emphasis on cross-sectional, in the 21st-century entrepreneurial context. As of the end of 2019, sampled 479 global unicorn companies, and 333 high-growth companies with revenue of more than $100 million among 5,000 private companies in the U.S. with a compound annual growth rate (CAGR) exceeding 15% for the past three years. They were examined with 3 perspectives in terms of corporate growth that 1) the growth of enterprise value, 2) the pace of growth, and 3) the effectiveness of growth. As a result of our study, the corporate growth of the perspective of creating enterprise value had a relatively higher relationship with the characteristics of industries and markets. The pace of growth was more fully explained by the characteristics of the industry and the market environment and the choice of strategies that make up a valid combination. In addition, growth in terms of the effectiveness of corporate performance was influenced by the choice of strategy, the characteristics of the industry and market environment, and its business age, the proxy variable of resource accumulation, comprehensively. This study through a sample based on companies with an enterprise value of more than $1 billion and annual revenue of more than $100 million can be a valid reference in terms of creating milestones and roadmaps for scale-up of early-stage startups, particularly in terms of practitioners' point of view. It also provides a critical reference for overcoming the limitations of mainstream theories of the 20th century and developing the theory of corporate growth that fits the 21st-century entrepreneurial context.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.3
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• pp.153-168
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• 2019

Augmented Reality(AR) has been one of the important technologies of the 4th industrial revolution. Consumer acceptance of new technologies is substantial issue for market expansion, but there have been few empirical studies on factors that affect the acceptance or use intention of AR. In this study, we have explored and analyzed the factors influencing technology acceptance based on the extended unified theory of acceptance and use of technology(UTAUT2) model in the AR business and have discussed it with comparison with existing research based on this analysis. The results of this study suggest that the main variables of the existing UTAUT1 model had significant positive effect on the intention to use, such as performance expectancy, effort expectancy, facilitating conditions and hedonic motivation, habits of UTAUT2. In addition, perceived risk introduced in this study had a negative effect on intention to use. Furthermore, the impact between these two factors have been effort expectancy(${\beta}=.294$)>habits(${\beta}=.268$)>hedonic motivation(${\beta}=.266$)>performance expectancy,(${\beta}=.263$)>facilitating conditions(${\beta}=.233$)>perceived risk(${\beta}=-.094$). The impact of social influence did not have a significant effect on intention to use. The intention to use was analyzed to have a significant positive effect on the actual use and recommendation intention. On the other hand, the hypothesis that the age and gender has played a moderating role between independent variables and the intention of use were investigated. Age was found out to play a role as a moderator between social influence, facilitating conditions, hedonic motivation, habits and intention to use. In the same way, gender has been shown to play a moderating role between facilitating conditions, perceived risk and intention to use. Academic and practical implications are suggested based on the results of this study.