• The Journal of Asian Finance, Economics and Business
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• v.8 no.12
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• pp.203-210
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• 2021

This paper explores the direct relationships between perceived support, attitude toward entrepreneurship, institutional environment, entrepreneurship education, risk-taking, and entrepreneurial intention. A survey of 1,000 students in Vietnam was conducted through face-to-face structured interviews. The confirmatory factor analysis and technique of structural equation modeling were used to explore relationships among latent constructs. The results show that entrepreneurship education, attitude, and social norms positively affect entrepreneurial intention. The findings of this study suggest that attitude has the strongest effect on entrepreneurial intention. More specifically, when students have an attitude toward entrepreneurship, they are more likely to start their own businesses. Research also showed that students are more likely to start a business when they find support from those around them and the knowledge and skills from the university. In contrast, the remaining factors, including perceived support, institutional environment, and risk-taking, do not affect entrepreneurial intention. The reasons for this result are that students cannot accurately assess risks due to lack of entrepreneurial knowledge, and start-up policies in Vietnam are currently focusing on financial support, but not on many other aspects, so that it may lead to start-up policies not being appreciated. The results provide implications for policymakers and educators for entrepreneurship development.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.19 no.3
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• pp.13-26
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• 2024

This study investigates how entrepreneurial competencies affect firm outcomes for necessity entrepreneurship in Korea. Based on a survey collected from 162 necessity entrepreneurs, this study conducted multiple regression analysis. The statistical results show that founder entrepreneurial competencies, such as risk-taking, tend to be associated with positive outcomes financially as well as non-financially, which suggests that the existing propositions of previous research on the relationship between risk-taking and firm performance can be applied to necessity entrepreneurship as well. Additionally, founder opportunity competencies and resilience increase the likelihood of better financial performance in necessity entrepreneurship compared to others, whereas their effect on non-financial performance is not statistically significant. This indicates that necessity entrepreneurs are likely to focus more on financial performance to survive than on non-financial performance, particularly concerning variables related to sustainability such as the environment and society. The findings of this study contribute to knowledge concerning the role of necessity entrepreneurs' competencies in the performance of their companies.

• Knowledge Management Research
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• v.22 no.4
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• pp.87-101
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• 2021

ESG Investment is emerging as a trend and common sense in the financial market. ESG Investment is an investment method that simultaneously pursue social sustainability and investment returns from a long-term perspective by reflecting non-financial factors such as environment, society and governance in addition to corporate financial performance in investment decisions. This study checked how the characteristics of ESG investment have been changed after Covid-19. Afterwards, it was confirmed that Covid-19 actually acted as a negative factor in the securities market by applying VAR model. At the same time, it was demonstrated that ESG indices of the US and Korea outperformed their benchmark in terms of return and risk during the pandemic regime. The result of this study hints that the importance of ESG investment will be unchanged after Covid-19. At the same time, it suggests that managers should avoid passive ESG management and engage in strategic ESG management based on knowledge management.

• Korean Journal of Construction Engineering and Management
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• v.13 no.4
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• pp.60-68
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• 2012

The past IMF foreign exchange crisis and subprime financial crisis had a big influence on variability of macroeconomics, even if the origin of its occurrence might be different. This not only had a significant infrequence on the overall industries, but also produced many insolvent companies by being closely linked with a management environment of an individual construction company leading the construction industry. Actually, the level of default risk of construction companies before and after fluctuation of macroeconomics gets to experience a rapid changing process, and a difference in reaction against shock exists according to each company. Accordingly, the purpose of this paper is to confirm the fluctuation process of the default risk of construction companies under the fluctuation of macroeconomics such as the IMF financial crisis and the subprime mortgage crisis. As an analysis result, it is judged that the subprime financial crisis gave bigger shock to construction companies than the foreign exchange crisis, and it is expected that this would have a relation with the construction market before shock of macroeconomics. In addition, it was analyzed that when comparing insolvent companies with normal companies, the recovery speed of normal companies is faster. It is judged that this was affected by a difference of internal business capacity between insolvent companies and normal companies.

• The Journal of Industrial Distribution & Business
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• v.13 no.4
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• pp.1-14
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• 2022

Purpose: The purpose of the study is to explore the application of Augmented Reality (AR) technology to enhance interactivity and decision making via technology-enabled experience particularly, in the context of COVID-19. This study investigated effects of perceived utilitarian value, hedonic value, social value, and perceived risk on customer satisfaction with AR technology that are rarely examined in previous studies. Research design, data and methodology: Online survey data was used in the study. This study applied factor analysis and regression analysis to test the hypotheses and employed ANOVA and mediation effect analysis to explore additional findings. Results: The results suggested that customers' perceived usefulness, arousal, social preference, innovativeness, financial risk, and performance risk have statistically significant effect on customer satisfaction. Conclusions: The findings of the study provided managerial and policy implications to develop and advertise the introduction of AR technology with the emphasis on the practical and utilitarian benefits of the technology. The result of this study highlighted the importance of customer relationship management by providing advanced services to customers through AR technology. This study contributes to technology-enabled CRM literature by providing the empirical result to verify the assumption that AR technology can be an effective tool of firms' CRM strategy

• Korean Journal of Clinical Pharmacy
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• v.28 no.1
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• pp.40-50
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• 2018

Objective: This study presented the analysis period, the complexity of combined therapy and comparator choice as the key limitations in the economic evaluation of new drugs, and discussed programs for coping with these limitations. Methods: This study evaluated the post-evaluation, risk-sharing agreement, extra funding program, and flexible incremental cost-effectiveness ratio (ICER) threshold as actions or programs that would increase accessibility to costly new drugs. The study also presented the cases of other countries. The application of the post-evaluation was considered to deal with high uncertainty regarding new drugs. Results: The risk-sharing agreement was introduced in European countries as well as South Korea and has been responsible for the shift from using the financial schemes to outcome-based schemes. The drug funding program has had troubled in securing stable extra funds. The application of higher ICER in the economic evaluation of expensive and innovative oncology drugs was criticized because of the inequity between oncology patients and patients with other diseases. Conclusion: Therefore, introducing and applying actions that would increase the accessibility to costly new drugs in South Korea have been deemed necessary after careful reviews and discussions with various stakeholders (insurer, policy makers, pharmaceutical companies and patients).

• The Journal of the Korea Contents Association
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• v.11 no.11
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• pp.137-144
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• 2011

This study explored the risk sharing mechanism in the US TV drama industry. The hollywood system of TV production and distribution can be understood to be the result of the efforts to reduce the uncertainty and the risk of investment. Since the 1990s, the vertical integration of major studios and networks has been one of the core strategies for risk sharing. In the strategy, the most important role of networks is to schedule new series that the affiliated studios produce. Networks also provide the new series their brand value. On the other hand, the most important role of studios in the vertical integrated environment is to provide the affiliated networks the infrastructures for production and distribution, financial management, and product management. In addition, networks keep the right on the series in the secondary markets, and attempt to increase the aggressive investment on new series on the base of the rights. However, such a risky investment can be the potential burden and risk for the networks in the future. This paper shows the importance of the reasonable risk sharing in the television drama industry to the Korean TV drama industry that has experienced the conflict between networks and independent production companies.

• Korea Trade Review
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• v.47 no.2
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• pp.133-154
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• 2022

The Baltic Capesize Index (BCI), which is used as an indicator for marine transportation of steel raw materials, is one of the key economic indexes for managing the risk of loss due to rapid market fluctuations when steel companies establish business strategies and procuring plans for raw materials. Still, the conditions of supply and demand of steel raw materials has been extremely affected by volatility shocks from drastic events like the financial crisis such as the Lehman Brothers incident and changes in the external environment such as COVID-19. And, especially since the 2008 financial crisis, endeavors to predict the market conditions of the steel raw material is becoming more and more arduous for the deepening uncertainty and increased volatility of BCI, which has been used as a leading indicator of the real economy. This study investigates the correlation between the steel raw material market and the marine transportation market by estimating the spillover effect of information between markets. The vector error correction model (VECM) was used to analyze information transfer based on the correlation between the BCI and crude steel production, capesize fleet supply, raw material price, and cargo volume.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.5
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• pp.829-837
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• 2021

The study investigates the impact of the Counter-Cyclical Buffer Policy (CCB) on regional development bank profitability in Sumatra, Indonesia. CCB requires banks to hold capital at times when credit is growing rapidly so that the buffer can be reduced if the financial cycle turns down or the economic and financial environment becomes substantially worse. This study employs time series data of regional development banks (RDBs) in Sumatra Island, Indonesia. The methodology applied in this study is a panel dynamic model with Generalized Methods of Moments (GMM). The results show that increasing capital through the implementation of CCB did not have a significant effect on RDBs' profitability. The findings of this study suggest that the activation and implementation of CCB lead to an increase in the amount and cost of loans to companies but do not affect the profitability of RDBs. The value of a Non-Performing Loan (NPL) proved to have a negative and significant effect on bank profitability. The CCB policy aims to overcome the pro-cyclicality of credit growth and improve bank resilience through increased capital which is expected to reduce excessive credit growth as a source of systemic risk. This causes a lack of lending to the community so that the profits obtained by the bank decrease.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.5
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• pp.53-68
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• 2014

This study is aimed at analyzing the factors that affect the behaviors of employee's investment, such as a decision making process in a variety of views and proving the extent of how those factors influence on their investment. The basic assumption is that the preceding factors that can be determined by the personal investment propensity, a psychological factor asserted by Behavior Financial Theory and financial-economic and social environment. This study uses Hershey's Investment Behavior Model(2007) as the main analysis tool to explain the investment behavior of individuals and deals with personal investment inclination in the psychological perspective of overconfidence, self-control and the risk tolerance propensity and add the financial and economic factors in terms of financial literacy and economic distress. Also the new preceding social environmental factors like social interaction and the effect of reference group are added to make this research to be more precise. This study analyze the adjustment effect of professional invest-consulting service that affect the fluctuation influence between the individual variables(those factors) and subordination variable(the level of investment satisfaction). The study reveals that overconfidence and self-control in direct ways have a positive effect on the level of investment satisfaction in terms of investment behavior and economic distress has a negative effect on the level of investment satisfaction. The adjustment effect provided by financial experts in investment consulting service is affirmed as the critical factor that increase the influence between self-control and the level of investment satisfaction. To conclude, the research reveals that the psychological factors are the main criteria when the workers as employees have to make investment decisions. To make investors be reasonable, a systematic financial education system provided by experts is needed from the early adolescent stages and financial companies should develop the relevant services of consulting service department as a key financial sector and financial investment products and consulting program and marketing tool pertinent to investors ages, vocational traits and their inclinations.