• Journal of Korea Technology Innovation Society
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• v.21 no.2
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• pp.636-662
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• 2018

Recently, the Moon administration established the Ministry of Small and Medium-sized Enterprises (SMEs) and Startups, as part of its national strategy for start-up and innovation growth led by small and medium-sized venture companies. In a slowing economy, as venture companies with excellent internal competencies are seen to be favorable to growth, the government funding for technology development is becoming increasingly important. Previous studies examine the internal competence factors that can strengthen competitiveness through self-efforts and the influence structure of growth stage, which is an important factor in industrial environment, on business performance. As the government support for venture firms has been strengthened, the effect of government funding on the management performance and technological innovation performance of venture firms have been recently discussed in various ways. However, there is a lack of precedent research on the moderating effect of the utilization of government funding on the existing influence structure in which firm's internal competence and growth stages affects business performance. Therefore, this study examined whether the internal competencies of the venture firms and the stage of growth have direct effects on business performance and analyzed the moderating effect in connection with government funding utilization under these influence structures. The results of the study are as follows. First, the utilization of government funding in the venture firms whose R&D personnel ratio is relatively low, not to have own brands and showed an increase of employees has a significantly positive influence on business performance. Second, the moderating effects of the government funding utilization at the high growth stage of the venture firms are shown significantly. These results suggest that the venture policy linked to the job creation of the present government requires not only the support considering R&D personnel but also the necessity of supporting human resources policy to a greater extent and further study on the effectiveness of venture firms in the high growth stage.

• Journal of Technology Innovation
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• v.22 no.4
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• pp.235-259
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• 2014

New product or new technology developments are directly linked to a firm's survival and thus their performance and improvement are gaining attention in the midst of rapidly changing business environment and aggravating competition. However, despite SMEs' significance in the national economy, they are limited in terms of size and resources in possession, so the government provides a variety of supports as a policy. According to a study on the organizational life cycle, a firm's limits and difficulties differ by growth stage, so the supports need to be tailored. Based on the data from 2,575 firms that responded to the "2011 SMEs Technological Statistics," how technological capability level and deviation in the R&D process affect the R&D sales performance was studied. The result of analysis revealed that the technological capability has a positive impact on the R&D sales performance. It was also learned that the relationship between deviation in the technological capability and R&D sales performance was moderated by the government support. For the hypothesis that the government support would have a different moderating effect by growth stage for the impact the technology level has on the R&D sales performance, the empirical analysis showed a different meaningful moderating effect for each growth stage. The theoretical implications of the study are that, instead of a simple relation of dynamics that does not take the growth stages into account, it suggested a more realistic causal relationship model that reflects the complex environment the SMEs are in and that the need for measuring and using the deviation in technological capability as a research variable has been justified. The practical implications are that the government policy for supports can be tailored to a growth stage and that the guidelines have been suggested to effectively use the government funding by encouraging the SMEs in a different growth stage to adapt to the customized policy.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.4
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• pp.99-116
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• 2018

The purpose of this study is to suggest the integrated entrepreneurial competency models that reflect critical entrepreneurial competencies that entrepreneurs should have at different stages, thereby enhancing the success rate of ventures. To accomplish the purpose, this study developed the hypotheses about the positive effects of entrepreneurial competencies on business performance, and the moderating effect of learning competency to strengthen the relationship between entrepreneurial competencies and business performance. The results of this study are as follows. First, the technological functional competency of entrepreneurial teams, the resource utilization and business planning competency of entrepreneurs in the early stage of business development were found to significantly affect both non-financial and technological performance. The opportunity recognition competency has a significantly positive effect on non-financial performance. In addition, it is analyzed that learning competency significantly moderated the relationship between entrepreneurial competencies(technological functional, resource utilization) and non-financial performance. The moderating effect of learning competency between business planning competency and technological performance was also found to be significant. Second, leadership and resource acquisition competency of entrepreneurs in the late stage of ventures have significantly positive effects on both non-financial and technological performance. The strategic competency has a significantly positive effect on non-financial performance. It was also found that the moderating effect of learning competency between strategic competency and non-financial performance was significant. Finally, the results show that both non-financial and technical performance of NTBVs are significant determinants of financial performance.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.4
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• pp.109-120
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• 2020

This study examines how the government's fairness in entrepreneurship support affects satisfaction and management performance, and examines whether these influences are different for each growth stage of start-up companies. For this study, data were collected for start-up companies that received government support for start-up within the past 5 years. Total 611 copies of the data were used in this study. The collected data were analyzed using SPSS and AMOS. The fairness used in this study was divided into three types, procedural fairness, interactive fairness, and distributed fairness. The effect of the three fairness on the satisfaction of start-up support project was analyzed. In addition, the effect of business support satisfaction on business performance was analyzed, where the business performance was evaluated by the questioner's satisfaction with their business. The start-up phase was divided into the start phase, early growth phase, stagnant phase, and high-level growth phase, and the moderating effect between the fairness and satisfaction of the government-supported projects by start-up phase was analyzed. As a result, it was found that every concept of fairness had a positive (+) effect on the satisfaction of the entrepreneurship support project, and the satisfaction of the entrepreneurship support project had a positive (+) effect on the management performance. The concept of procedural fairness in the start phase, procedural fairness in the early growth phase, interactive fairness, and the concept of all fairness in the stagnant phase influenced the satisfaction of the start-up support project. In this study, the fairness and effect of government-supported projects affecting the management performance of start-ups were identified by growth phase of start-ups. The results of these studies will help build a systematic system for entrepreneurship support and for start-ups, it will also greatly contribute to finding differentiated growth plans by growth stages of start-up companies.