• Journal of Technology Innovation
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• v.25 no.1
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• pp.35-60
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• 2017

In this study, the effects of Venture Start-up's Technological Capabilities on Financial Stability and Possibility of Insolvency was investigated by use of SEM(Structural Equation Model). Technological Business Capabilities include CEO's Technological Capability, Management Specialization and the Feasibility of the Investment plan. The empirical data for this study were taken from the technology assessment data of Korea Technology Guarantee Fund(KTGF) on 1,419 Venture Start-ups from 2011 until 2012 and the financial data of the following 2 years of the sample. Venture Start-ups established within 7 years, were selected for this study's sample from viewpoint of their 'High-Risk High-Return' characteristic. The results are as follows : Manpower including CEO's Technology-related Knowledge and Experience, Management Organization's Technological Specialization and Cooperativeness, Reasonable Investment and Financing Planning etc. were proved to improve Financial Stability, and therefore reduce Possibility of Insolvency.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.5
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• pp.1-16
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• 2023

Due to imbalances in supply and demand within the labor market, start-ups have emerged as crucial players in the generation of high-quality employment opportunities, particularly in stagnant job markets. In response to this trend, governments are allocating substantial financial and human resources to initiatives that support start-up development. This has led to an increasing rate of engagement in start-up ventures across diverse age groups, not limited to younger individuals. Start-ups are enterprises focused on the commercialization of innovative ideas with the aim of achieving profitability in the marketplace. Research concerning the successful market integration of new products and the attainment of sustainable growth is pivotal. Such research is instrumental not only for the success of start-ups but also for realizing the broader social functions and contributions that these enterprises can offer. Previous research has often examined new product market-entry strategies, often referred to as new product marketing, particularly for large companies and SMEs. However, there is a gap in studies focusing on prototype marketing strategies specific to start-ups. Thus, this study aims to examine the impact of Pre-announcing marketing strategies on the market attention garnered by start-ups with low recognition and limited infrastructure, and how such attention contributes to their sustainable growth. Specifically, the study aims to uncover the causal relationship between information attributes like relevance, vividness, and novelty in building customer relationships, and their impact on purchase intentions influenced by performance expectations and hedonic motivations. In terms of Pre-announcing information attributes, relevance, vividness, and novelty positively influence performance expectations and hedonic motivations as outlined in the extended Unified Theory of Acceptance and Use of Technology (UTAUT2). These factors, in turn, positively impact the purchase intention for pre-announced new products from start-ups. These findings are expected to provide both theory and practical insights into the factors influencing market entry through the use of Pre-announcing marketing strategies for start-up new products.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.68 no.1
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• pp.44-51
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• 2019

Tunnel Boring Machine's Technology has depends mostly on imports, currently domestic technology development was proceeding. There are many technologies in this field, above all, the large-capacity motor drive technology required for excavation is one of the core technologies. In particular, when several large motors are simultaneously starting, there are many problems due to a large starting current at that time, and it is difficult to design and operate a power receiving facility. In this paper, A method of reducing the starting current by using the regenerative power generated by the deceleration of the motor has been studied. To verify this proposal, we designed the induction motor controller using CAE based power simulation tool and verified the results of the proposed method by applying the reduced model. As a result, it is possible to reduce the maximum starting current and shorten the start-up time. Moreover, even if several motors are connected to one bank, it is proved that the method can be efficiently operated by using the sequential braking / starting sequence. In the case of a power system in which a large capacity electric motor such as a tunnel excavation system is driven, the results of this study are expected to be a stable and effective method for solving the start-up current problem and designing the power receiving facility.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.5
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• pp.49-65
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• 2022

This study conducted an exploratory study based on in-depth interviews to understand the characteristics and capabilities of female entrepreneurs to promote women entrepreneurship. Therefore, in this study, through in-depth interviews with eight female entrepreneurs, the main contents of entrepreneurial attitudes (need for independence, development desire, favorable conditions), start-up entry rate, start-up motivation, start-up activities and constraints were analyzed. As a result, first, it was found that the entrepreneurial attitude of female entrepreneurs has a strong motivation for successful management based on a feeling of self-satisfaction, has characteristics that prioritize independence and self-actualization, and favorable conditions for starting a business are important. Second, it was found that women's individual differences from men and social structural factors had no significant effect on the entry rate of women. Third, it was found that the most important entrepreneurship motivation for women is the spirit of challenge, self-satisfaction, and the desire to balance work and family. Fourth, female entrepreneurs showed little difference in perception between male and female entrepreneurs in terms of resource access, but there was some discrimination in the network. Fifth, the main industries of female entrepreneurs are small businesses, and there is a tendency to be concentrated in industries with low profit margins and low growth and sales. Finally, it was found that barriers to women's entrepreneurship still exist. Based on the results of this study, the following implications are suggested. First, this study is differentiated in that it mainly identified the characteristics of women's experiences and social environments while starting a business and running a business. Second, in the case of female entrepreneurs, there is a need to spread a positive awareness of women entrepreneurship by arguing that the barriers to entrepreneurship unique to women are not high and can be sufficiently overcome. Lastly, although opportunistic start-ups based on women's social experience or management ability in work life are important for women's entrepreneurship, government support policies are needed to promote professional technology start-ups.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.4
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• pp.113-132
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• 2019

The degree of females' participation in corporate activity has been recently increased over the world and females' participation in economic activity may be new dynamic fuel for the Korean economy that falls into the vicious cycle of low growth. Start-up, therefore, has increasingly taken attention as an opportunity for females whose careers were interrupted to re-enter the labor market. The need for studies that examine factors influencing the decision of start-up is also increased along with the increase of the ratio of females' start-up. This study aims to verify effects of the women's characteristics(women discrimination, women's role conflict) and the human networks of females whose careers were interrupted, with the intention for entrepreneurial intention, which are mediated by personal attitudes and subjective norm suggested by Ajzen's Theory of Reasoned Action, based on an empirical research. The findings show that the human networks of females have an effect on attitudes toward start-up activity and subjective norm and the woman discrimination influence the personal attitudes. In contrast, the women's role conflict have no effect on both personal attitude toward start-up activity and subjective norm. This can be supposed as an outcome resulted from the subjects' low level of conflict caused by their sex roles, on their age distribution. The relation between subjective norm and entrepreneurial Intention seemed to be moderated by their perceived strong entrepreneurial supporting policy. Their attitudes toward start-up activity were found to have a mediating effect on the relation between the women discrimination, human networks and entrepreneurial Intention, while the subjective norm only mediated the relation between human networks and entrepreneurial Intention. Based on such results, this study attempts to suggest theoretical suggestions and the direction of various entrepreneurial supporting policy for the increase and the growth of start-up of females whose careers were interrupted, in Korea.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.4
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• pp.63-73
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• 2019

Recently, as young and senior entrepreneurs are getting interested in starting a business, the domestic startup rate is gradually increasing. However, the survival rate of start-ups is so low. In this regard, this study empirically examines how the entrepreneurial intention affects both financial and non-financial start-up performances through the intermediation effects of experiential competence, financing competency, marketing competence and differentiated competitive advantage. In doing so, the purpose of this study is to find out the key elements to successful start-ups. To this end, the survey results of 200 start-ups in Pohang from January 21 to February 1, 2019 were used to test the research hypotheses. The results of the study are summarized as follows. First, it is shown that the entrepreneurial intention have a positive effect on the experiential competence, financing competence and marketing competence. Second, it is found that both experiential competence and marketing competence have significant positive effects on the differentiated competitive advantage. On the other hand, the financing competence has not been shown to have a significant effect on the differentiated competitive advantage, which might result from the characteristic of the data that most of the respondents are from new businesses. Third, it is shown that the differentiated competitive advantage has a positive effect on both financial and non-financial performances. In conclusion, the results of this study suggest a theoretical basis for the successful start-up performance. Namely, it is necessary for the founders of start-ups to secure differentiated competitive advantage through the entrepreneurial intention and the entrepreneurial competences such as financing competence and marketing competence because the differentiated competitive advantage leads to the successful financial and non-financial start-up performances. In addition, the results of this study suggest to both entrepreneurs and managers that for the successful business performance, it is important for them to make continuous efforts to come up with new ideas and to reinforce financing and marketing activities in order to achieve the differentiated competitive advantage.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.3
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• pp.59-71
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• 2019

The domestic unemployment rate is now seriously increasing due to the impact of the international trend of incurring high costs using only a small number of manpower in a situation where the business has been being reduced in size. The nation is taking start-up promotion policies as a way to overcome the problem, but with the advent of excessive entrepreneurs and their concentration on specific areas, their survival is in an unclear situation. Thus, this study was intended to provide a useful direction for successful start-ups by identifying the impact of entrepreneurial motivation and entrepreneurship, internal characteristics of entrepreneurs, and of competency characteristics, external characteristics of them, on sustainability through business performance. Thus, the purpose of this study was to provide a useful direction for successful start-ups by identifying the impact of entrepreneurial motivation and entrepreneurship, internal characteristics of entrepreneurs, competency, and external characteristics, on sustainability through business performance. The result of verifying the hypothesis has showed that entrepreneurial motivation, entrepreneurship, and competency characteristics had a positive effect on business performance, and on the other hand, the business performance had a positive effect on sustainability. In addition, in terms of the impact of entrepreneurial motivation, entrepreneurship, and competency characteristics on sustainability, all of them had mediating effects on business performance. It is obvious that studies on the factors affecting business performance and corporate sustainability up to now have been carried out by only collecting the independent variables of this study individually or two of them. so it is judged that if the study, which has verified the practical direction in general through the verification of entrepreneurs's internal and external characteristics from various angles, is performed more comprehensively along with the addition of background characteristics of entrepreneurs, such as characteristics of start-up preparation, etc., in the future, more in-depth results will be able to be obtained.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.7 no.1
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• pp.7-18
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• 2012

So many researchers have been interested in key success factors of technological start-ups. However, even previous studies have focussed on key success factors, as their findings have not been consistent. The purpose of this study is to investigate the determinants of technological start-ups' performance. The first aim of this study is intended to explores impact of entrepreneurs' characteristics, technological capabilities and network on firm performance. The second aim is to examine the causal relationships among latent variables with firm performance and with the use of path analysis. For this study, information has been gathered through surveys from entrepreneurs of 701 Korean technological start-up companies. As for analysis of the data, SPSS 18.0 OK for Windows and AMOS 4.0 were used for testing of hypothesis. Results of the hypothesis testing are summarized as follows: First, it was found that entrepreneurs' characteristics, technological capabilities and network had statistically significant influence on firm performance. Second, entrepreneurs' characteristics had significant influence on technological capabilities and network. Third, network did not have significant influence on technological capabilities. The major contributions of this study are (1) identifying the determinants on firm performance of technology-based start-ups by means of structural equation model, (2) verifying effects on firm performance of technology-based start-ups by the variables.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.42 no.4
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• pp.16-22
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• 2019

After Dantzig and Rasmer introduced Vehicle Routing Problem in 1959, this field has been studied with numerous approaches so far. Classical Vehicle Routing Problem can be described as a problem of multiple number of homogeneous vehicles sharing a same starting node and having their own routes to meet the needs of demand nodes. After satisfying all the needs, they go back to the starting node. In order to apply the real world problem, this problem had been developed with additional constraints and pick up & delivery model is one of them. To enhance the effectiveness of pick up & delivery, hub became a popular concept, which often helps reducing the overall cost and improving the quality of service. Lots of studies have suggested heuristic methods to realize this problem because it often becomes a NP-hard problem. However, because of this characteristic, there are not many studies solving this problem optimally. If the problem can be solved in polynomial time, optimal solution is the best option. Therefore, this study proposes a new mathematical model to solve this problem optimally, verified by a real world problem. The main improvements of this study compared to real world case are firstly, make drivers visit every nodes once except hub, secondly, make drivers visit every nodes at the right time, and thirdly, make drivers start and end their journey at their own homes.

• Journal of ILASS-Korea
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• v.18 no.2
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• pp.87-93
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• 2013

In this paper, high-pressure injection characteristic of servo hydraulic injector as the key component of diesel CRDi system, which is driven by solenoid and piezo-actuator were examined by experimental analysis. High-pressure injection characteristic of standard diesel fuel injected at high pressure up to 160 MPa was investigated at high-pressure chamber by using a high-speed camera for spray visualization and quantitative analysis. By this study, we found that the piezo-driven injector has better performances in controlling the fuel injection with the high pressure, including fuel quantity, spray penetration length and spray velocity, than that of a solenoid-driven injector. In particular, the needle response time for start of injection in piezo-driven injector was faster of about $125{\mu}s$ than that of solenoid-driven injector. Consequently, it is known that the piezo-driven injector has more degrees of freedom in controlling the fuel injection with the high pressure than solenoid-driven injector.