• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.2
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• pp.51-61
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• 2018

As Korean society becomes more matured, more people consider trust valuable, as a social capital. Researchers introduced trust literatures focusing on public policy, sociology than business. In this paper, it is empirically analyzed how Organizational Justice, Shared Values, Organizational Trust, 3 dimensions of social capital explained by Nahapiet & Ghoshall, together with Job Satisfaction and Innovative Behavior, as a proxy of performance at the organizational level. The results of this study are as below. Firstly Organizational Justice, consisted of 4 sub-variables of Distributional Justice, Procedural Justice, Interpersonal Justice and Informational Justice, classified by Colquitt, affects Job Satisfaction positively. Secondly Shared Values, consisted of 2 sub-variables of CEO's Core Value and Organizational Culture, availing Competing Value Model of Cameron & Quinn, affect Job Satisfaction positively. Thirdly Job Satisfaction, consisted of 2 sub-variables of economical satisfaction and self-efficacy, affects Innovative Behavior positively. Lastly Organizational Trust has mediating effect on the relationship between Job Satisfaction and Innovative Behavior. However, while the direct effect of Job Satisfaction on Innovative Behavior shows 69%, the indirect effect of Organizational Trust on Innovative Behavior shows 31%, which may not be ignorable. Furthermore in case of smaller organization with less than 30 members, the indirect effect of Organizational Trust shows 64%, comparing to 36% of direct effect of Job Satisfaction. This study was able to confirm that organizations need to maintain Organizational Trust as much as they strive to increase Job Satisfaction through securing Organizational Justice and Shared Values in order to effectively increase Innovative Behavior. For small organizations with less than 30 members, they can never achieve Innovative Behavior without Organizational Trust. Conclusively it is acknowledged that Organizational Trust is the most important prior condition for innovation and long-term survival of SME ventures.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.3
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• pp.17-32
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• 2023

In recent years, the need for social ventures that aim to grow while solving social problems through the efficiency and effectiveness of commercial organizations in the market has increased, while there is a limit to how much the government and the public can do to solve social problems. Against this background, the number of social venture startups is increasing in the domestic startup ecosystem, and interest in impact investors, which are investors in social ventures, is also increasing. Therefore, this research utilized judgment analysis technology to objectively analyze the validity and weight of judgment information based on the cognitive process and decision-making environment in the investment decision-making of impact investors. We proceeded with the research by constructing three classifications; first, investment priorities at the initial investment stage for financial benefit and return on investment as an investor, second, the political skills of the entrepreneurs (teams) for the social impact and ripple power, and social venture coexistence and solidarity, third, the social mission of a social venture that meets the purpose of an impact investment fund. As a result of this research, first of all, the investment decision-making priorities of impact investors are the expertise of the entrepreneur (team), the potential rate of return when the entrepreneur (team) succeeds, and the social mission of the entrepreneur (team). Second, impact investors do not have a uniform understanding of the investment decision-making factors, and the factors that determine investment decisions are different, and there are differences in the degree of the weighting. Third, among the various investment decision-making factors of impact investment, "entrepreneur's (team's) networking ability", "entrepreneur's (team's) social insight", "entrepreneur's (team's) interpersonal influence" was relatively lower than the other four factors. The practical contribution through this research is to help social ventures understand the investment determinant factors of impact investors in the process of financing, and impact investors can be expected to improve the quality of investment decision-making by referring to the judgment cases and analysis of impact investors. The academic contribution is that it empirically investigated the investment priorities and weighting differences of impact investors.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.2
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• pp.221-233
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• 2019

In Korea, small and medium sized domestic enterprises(SMEs) play an pivotal role in the national economy, accounting for 99.9% of all enterprises, 87.9% of total employment, and 48.3% of production. and SMEs was driving a real force of the development of national economy in many respects such as innovation, job creation, industrial diversity, balanced regional development. Despite their crucial role in the national development, most of SMEs suffer from a lack of R&D capabilities and equipments as well as funding capacity. Public R&D institutes can provide SMEs with valuable supplementary technological knowledge and help them build technological capacity. so, In order to effectively support SMEs, government and public R&D institutes must be a priority to know about the factors influencing the performance related to technology transfer and technological collaborations. In particular, SMEs are not only taking up a large portion of the national economy, but also their influence in politics and economy so strong that raising the competitiveness of small and medium-sized companies is a national policy goal that must be achieved in order to achieve sustained economic growth. For this reason, it is necessary to look specifically at the relationship between concepts such as the environment, strategy, and organizational culture surrounding the enterprise to enhance the competitiveness of SMEs. The paper analyzes 665 companies to find out which organizational culture affects their performance by classification and type of business of SMEs. This study demonstrated that when SMEs seek consistency in their external environment, strategies, and organizational structure to maintain their continued competitiveness. According to three-way analysis of variance (3-way ANOVA) indicates that classification of industries in SMEs has statistically significant main effects, but the type of business and organizational culture do not have significant effects. However, the company's organizational performance (operating profit) of SMES were found to differ significantly in comparison between groups according to classification standards of industries, and therefore adopted some parts. In addition, an analysis of the effect of interaction between the three independent variables of small and medium-sized enterprises has shown that there are statistically significant interaction effects among classification, types of business, and organizational cultures. The results shows that there is an organizational culture suitable for each industry classification and type of business of an entity, and is expected to be used as a basis for establishing promotion policies related to the incubation and commerciality of small and medium-sized venture companies in the future.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.5
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• pp.43-52
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• 2014

It becomes to be essential for firms to build up collaboration ecosystem with diverse entities and to be common for firms to absorb knowledge from external environment for their innovation. Companies try to transfer technological or knowledge asset to other firms through open innovation. The purpose of this research is to suggest the role of universities in University-Industry Collaborations besides research collaboration and we focus on the role of university to strengthen the regional business ecosystem network. For this research, we analyze a specific UIC(University Industry Collaboration) program called as "Business Clinic Day" which provides a consulting service for firms, especially, SMEs with a specific problem by a group of consultants including CEOs, professors, and heads of regional public or private service providers. Then we studied how the business network has changed after the program with network analysis. Also, we try to find out the main pattern of network structure extension of business ecosystem with interview. This study illustrates that changing types of network are formed between university and SMEs by clinic day. The result shows that not only new role as a network promoter, but also the partner as a technology-provider in the regional business ecosystem.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.2
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• pp.221-232
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• 2016

The impact of the recent small business start-up competition in the market, has become overheated. It is effected by early retirement of a generation of youth employment. This study is a study on the impact of SEMAS(Small Enterprise and Market Service) system operating of the funding system, education support programs, and consulting support system on the business performance of small business owners. It has surveyed 272 business owners, in Gyeongsangnam-province. The study includes specific support system for usage frequency and satisfaction and conducted from January 2013 to September 2015. In addition, it analyzes characteristic that motivation, business model, item, owner's experience, sales and demographic by small business owner. Analysis results, the management performance of small business that uses financial support system and consulting support system is shown to be high. But education support system is the opposite effect. As a result, the management performance is related to industry experience. Therefore education support system need to be reorganized to the support depends on the development stage. This study was conducted to help small business owners entered the start-up market and a decision-making person with a policy decision.

• The Journal of Small Business Innovation
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• v.19 no.2
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• pp.1-15
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• 2016

Entrepreneurs usually require financing for starting their businesses. Their primary source may be personal savings, family and friends' funds, or loans from banks and other financial institutions. Immigrant and native entrepreneurs may differ in their sources of financing, and their differences in sources may depend on their societal context. The research questions are, how does an entrepreneur's migration status -immigrant versus native-influence primary source of financing, and how is this influence moderated by wealth of the country? Data are a sample of 14,369 immigrant and native owner-managers of starting businesses in 29 countries, surveyed in the Global Entrepreneurship Monitor, and analyzed by hierarchical mixed models. Analyses reveal that immigrant and native entrepreneurs similarly frequently have their personal savings and family as the primary source of funding. Native entrepreneurs, more often than immigrant entrepreneurs, have banks and other financial institutions as the primary source of funding. Immigrants, more often than native entrepreneurs, have friends and yet other sources as the primary source of funding. These effects of migration status upon source of financing, however, are moderated by the national context, in that wealth of the country boosts the immigrants' use of friends and other sources of financing.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.4 no.3
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• pp.39-54
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• 2009

As of July, 2009, Chungnam Province get DI (Direct Investment) of 2,502 corporations as the amount of 31 billion US dollars only for 3 years. Especially, Chungnam provincial governor make a excessive performance of 2.5 times comparing to the target number, 1,000 of inviting capital, that is public promise in the election. Now, the amount of inviting foreign capital is 1.2 billion dollars, at the end of this year it might be 1.4 billion dollars just in case of making a success on going negotiations. This outstanding performance comes from governor's leadership and aggressive strategies of well-trained subordinates. Chungnam Province has nation-wide multiple targets focused on interdisciplinary industries including strategic industries of display, auto-parts, steel, and oil-chemistry. Also, it has organic network system based on the very descriptive and accurate informations managing the task force team consisted of 35 competent members. In conclusion, the core competence of inviting foreign capital in a regional government is governor's strong leadership, activated organization consisted of specially well trained subordinates, and predominant differentiated strategies in details.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.1
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• pp.97-108
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• 2016

The competition between countries became internationalized in the market. However, a situation in which globalization is concerned is important to domestic corporates. Corporate strategy to survive in the domestic market are also juggling the limit of survival. Technology transfer and commercialization at this point has important implications now. The same applies to the national level. Public-to-private technology transfer has been more important, in order to overcome the international competitions. Although various studies have been made to promote technology transfer, in the livestock sector rarely attempted. Taking into account that few previous research and theory development has been achieved, the paper explored the technology transfer phenomenon in the sector employing the grounded theory approach by Strauss & Corbin(1998). Corporates that licensed in technologies through the Foundation of Agri. Tech. Commercialization & Transfer, were targeted as informants or interviewees. Finally, eight informants were selected sequentially utilizing theoretical sampling technique to the saturation point. As the result of open coding and axial coding of the interview data using NVivo10 by QSR International, 77 concepts, 20 sub-categories, and 7 categories were derived while paradigm model was established. Through selective coding, 'the factors affecting technology transfer in livestock sector' was identified as core category. The story line about the core category was developed based on four main categories. Finally, it is expected that the concepts, categories, and the relationship between them can be an important basis for further research.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.7 no.1
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• pp.225-232
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• 2012

The purpose of this study is to explore the necessity of technology commercialization aiding service from government-supported R&D institutions and find key success factors for market performance improvement of business ventures and SMEs. For this aim, we researched relevant theories and KICET(Korea Institute of Ceramic Engineering and Technology)'s "Ceramic Hidden Champion Supporting Project. As government-supported R&D institutions, KICET is not only providing its original main service which is technology advising and development, but also providing a full range of technology commercialization aiding service for business ventures including diagnosis, strategy planning, capital procurement, overseas marketing activity. Qualitative analysis based on relevant theories and meta-analysis framework suggest that such expansion of services is desirable for government-supported R&D institutions to increase market performance of business ventures and SMEs. To lead this business to success, we should develop effective management system and incentive system for external supporting companies and client companies. Also, coordination between team member's activities and budget procurement issue should be solved for further performance creation.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.7 no.1
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• pp.165-175
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• 2012

Recently, accumulation of technology, transfer, absorption, and commercialization is being significantly recognized as a key factor for sustainable growth of the 21st century global economy. The government established "Technology Transfer and Commercialization Promotion Act" In order that the technology developed at public research institutions can be transferred to the private sector and commercialized; the technology developed in the private sector can be traded and commercialized. Also, the Article 14 of "Technology Transfer and Commercialization Promotion Act" is concerning technology transfer agents' registration, promotion, and support: it introduced the special status system of technology transfer agents and the government registers, manages, and supervises it. In most developed countries, the technology transfer agency is transferred to the private sector and it is referred as a technology transfer agent or technology broker. In the domestic market, despite the introduction of the above special status system and the building a various organization and transfer medium system for boosting the market's revitalization, some problems occurred; because the registration system of a technology transfer agent and legal basis and system about its following-up control fall short. For example, recently technology transfer-related performance exemption has brought the activation of technology transfer agent's registration, but there was the limit of selecting the expert above a certain level. Therefore, some countermeasures for this are urgent, In addition, through a compulsory training completion system before the technology trade agent registration is prepared, a short period of curriculum was not sufficient to provide applicants various specialized knowledge. In this research, it is considered about the reform of technology transfer agent through its comparative study in China and Korea. Some improvements are suggested for expanding the market of technology transfer commercialization, assuring the agents' service and strengthening the competitiveness.