• 한국IT서비스학회지
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• 제13권4호
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• pp.123-137
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• 2014

Since the global financial crisis, funding for startups or ventures has been diminished seriously. In this situation, crowd-funding has attracted worldwide attention as a viable means to financing startups/ventures. After reviewing existing laws in other countries, this study investigated the current status of crowd-funding legalization in Korea and surveyed requirements from three groups of participants to crowd-funding. Investors already recognized the high risk of crowd-funding into startups and asked for the protection of their investment. But, their priorities were on the enlargement of tax benefits and the establishment of a trading market for selling their equity. In addition, investors wanted to shorten the compulsory holding period. Issuers as fund raisers hoped fast legalization, convenient process of crowd-funding, and expansion of government support. Crowd-funding platform operators requested policies for establishing paths to become new growth companies from startups, tax benefits, and the setup of separate fund for startups. Currently, the National Assembly in Korea is holding the discussion on the submitted law. For desirable outcomes to all participants, it would be better to proceed in the following sequence. First, legalize the crowd-funding with clauses protecting investors; Second, encourage investment through tax benefits; Third, develop communities among participants for reducing information asymmetry; And fourth, establish diverse trading markets for selling equities of startups.

• 한국지능시스템학회논문지
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• 제27권2호
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• pp.150-156
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• 2017

우리나라는 2015년 7월 '자본시장과 금융투자업에 관한 법률'이 통과됨으로써 다양한 형태의 모금개설과 투자가 이루어져 크라우드펀딩이 활성화될 것으로 전망되므로 본 논문은 성공적인 크라우드펀딩을 위해 펀딩에 영향을 미치는 요인들을 찾아내고자 한다. 이에 본 논문에서는 기대 수익, 인지된 위험, 촉진조건, 사회적 영향력과 같은 통합기술수용 모델 핵심 변수들과 인지된 위험이 크라우드펀딩 참여의도에 미치는 영향관계를 분석하였으며, 태도의 매개효과를 검증하였다. 검증결과, 성과기대, 사회적 영향력, 촉진조건은 참여의도에 긍정적인 영향을 미치는 것으로 나타났으나 노력기대와 인지된 위험은 영향을 미치지 않은 것으로 나타났다. 태도에 의한 매개효과 검증에서는 성과기대와 사회적 영향이 참여의도에 미치는 영향에 있어서만 매개효과가 있는 것으로 나타났다.

• 산업경영시스템학회지
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• 제44권1호
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• pp.1-8
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• 2021

As a nation experiencing rapid economic growth, South Korea and its government have made a continuous effort toward efficient research investments to achieve transformation of the Korean industry for the fourth industrial revolution. To achieve the maximum effectiveness of the research investments, it is necessary to evaluate its funding's worth and default risk. Thus, incorporating the concepts of the Black-Scholes-Merton model and the Greeks, this study develops a default-risk evaluation model in the foundation of a system dynamics methodology. By utilizing the proposed model, this study estimates the monetary worth and the default risks of research funding in the public and private sectors of Information and Communication technologies, along with the sensitivity of the R&D economic worth of research funding to changes in a given parameter. This study finds that the public sector has more potential than the private sector in terms of monetary worth and that the default risks of three types of research funding are relatively high. Through a sensitivity analysis, the results indicate that uncertainty in volatility, operation period, and a risk-free interest rate has trivial impacts on the monetary worth of research funding, while volatility has large impacts on the default risk among the uncertain factors.

• 기술혁신연구
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• 제11권1호
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• pp.177-193
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• 2003

This paper examines empirically if the increase of funding uncertainty in government supported R&D institutes(GSRIs) in Korean cause managers to use more effective management control practices. Recently government introduced a new government R&D budget management system, based on competition, named PBS(Project Base System). Government requires GSRIs to be self-supporting and compete for funding from government. The introduction of new budget management system named PBS, has resulted in the increase of funding uncertainty in GSRIs. According to institutional theory, government organizations gain legitimacy by conforming to external expectations regarding management control practices, In contrast, contingency theory proposes that management control practices are driven by the fit between the technical features of the environment and the management control practices. The contingency literature provides that one external factor expected to motivate government managers to use more efficient control practices is the presence of competition and funding uncertainty. This paper use both theoretical perspective to develop hypotheses and examine the influence of funding environment on management control practices. Results show that the more institutionalized environment, the more managers in GSRIs rely on bureaucratic mode of control for conforming to external requirements, and the greater the funding uncertainty, the more managers use results and personal modes of control to improve research team performance.

• Asia pacific journal of information systems
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• 제26권1호
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• pp.109-123
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• 2016

The success of a crowd-funding project can be attributed to various reasons, among which, backer's (also known as 'investor', or 'funder') perception of project credibility may be a salient one. The purpose of this study is to investigate the extent to which perceived project credibility can affect a backer's investment decision. We examine the factors that could influence the building of perceived project credibility by testing the proposed research model using survey data. Analysis results indicate that perceived project credibility has a significantly positive effect on backer's investment intention. Furthermore, information quality and source credibility are two key determinants of perceived project credibility. This study contributes to crowd-funding literature by enriching the list of successful factors for fund-raising with project credibility. The study also has practical implications because it explains why and how a backer's perception of project credibility can be improved.

• 기술경영경제학회:학술대회논문집
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• 기술경영경제학회 1998년도 제13회 하계학술발표회 논문집
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• pp.208-215
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• 1998

Since the advent of conceptual prototype and seminal application, the notion of national systems of innovation(NSI) has drawn an increasing recognition. Although the morphological entanglement is still ubiquitous and the theoretical underpinning is fragile, NSI seems to be the last step toward an increasingly complex and encompassing concept of innovation research. Inevitably, NSI necessitates the comparative analysis in that it normatively attempts to draw best practices. Unfortunately, national profiles are too complex and diverse to derive a unified, concrete representation of the system, posing the problem of defining and modelling NSI for international comparison. This paper aims at providing an inductive taxonomy of NSI based on R&D structure of OECD member economies. Based on the similarity among national profiles, clustering method was applied to identify seven clusters such as (1) enterprise-government funding and enterprise-education performing group, (2) enterprise-government funding and balanced performing group, (3) balanced funding and enterprise-education performing group, (4) balanced funding and performing group, (5) enterprise-dominating group, (6) government-education dominating group and (7) government-education funding and education performing group. This paper by nature is descriptive and exploratory. R&D structure represents a static snapshot of innovative performance since it accounts for only the input side of NSI and thus may not offer convincing explanations of the holistic innovation system. A more detailed and extensive analysis on the economic/technological performance across clusters will shed light on the promising avenue to future research.

• The Journal of Asian Finance, Economics and Business
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• 제7권7호
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• pp.95-104
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• 2020

This study examines the effect of fintech on retail banks stock return listed in Indonesia Stock Exchange for the period of 2016-2018 as today's new technology lead to the emergence of fintech companies playing the same role as retail banks in the financial industry. This study is conducted quantitatively using monthly data from January 2016 to October 2018 and uses fintech as independent variable, proxied by fintech funding frequency and fintech funding value. Data transformation is conducted due to data volatility. The data of fintech funding, both frequency and value, is transformed into standardized fintech funding and growth of fintech funding. The data is obtained from Crunchbase, while the data of stock returns is obtained from Investing. This study further analyzes the data using Fama French Three-Factor Model and panel data regression. We found that fintech has no significant effect on retail banks' stock returns listed in Indonesia Stock Exchange for the period of 2016-2018. The findings of the study provide some useful insights in understanding fintech companies' current position to retail banks in Indonesia. This study also suggests banking institutions, fintech companies, policy-makers, and others to take advantageous steps in building inclusive financial sectors.

• 한국경영과학회지
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• 제14권1호
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• pp.177-177
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• 1989

This study concerns performance evaluation of the research-funding agencies focused on Korea Science and Engineering Foundation(KOSEF). On the basis of the constituents approach and the systems approach of organizational effectiveness theory, the evaluation items are derived reflecting generic characteristics of the research-funding agencies, and their priorities are determined using analytic hierarchy process(AHP). Three groups of constituents with differing interest and expections are identified, and their perceptions on the importance of the evaluation items are measured through questionnaire survey. Analyses show that the evaluation items perceived important by each constituency are significant different from one another. The implications of the result to the Government and KOSEF are discussed.

• 기술혁신연구
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• 제22권4호
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• pp.1-19
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• 2014

본 연구는 교수의 연구 활동과 성과를 바탕으로 교수의 역량이 대학의 기술이전 성과에 미치는 영향력 분석을 목적으로 한다. 이를 위해서 기술이전 경험이 있는 이공계 분야 교수 80명의 개별 데이터를 수집하여 논문 질적 수준, 특허활동, 정부지원 연구비 규모, 민간 연구비 규모, 임용 전 산업체 경력, 임용 후 경력, 연구팀 규모가 기술이전 성과에 미치는 영향을 분석하였다. 주요 연구 결과로 대학에서 교수의 특허활동, 민간 연구비 규모, 교수 임용 후 경력이 기술이전에 영향을 주는 요인으로 분석되었다.

• 융합정보논문지
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• 제8권1호
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• pp.301-312
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• 2018

본 연구는 신용보증기금이 지원하는 스타트업 기업들을 중심으로 정책자금 활용성 증대를 통한 경쟁력 강화 방안을 제시하고자 한다. 그래서 현재 신용보증기금은 스타트업들의 정책자금 활용성을 높이고 지원받는 스타트업들이 중장기적 경쟁력을 확보하기 위해 '사용자 중심의 정책자금 지원 모형'을 개발해야 한다. 국내 스타트업 기업들의 경쟁력 강화는 '사용자 중심의 정책자금 지원 모형'으로 개방형 혁신인 'Living Lab'을 통해서 새로운 혁신이 나타났다. 그렇지만 실제 사업화 단계까지 도달하지 못한 한계를 극복하기 위하여 본 연구에서 제시한 '사용자 중심의 정책자금 지원 모형'은 국내 스타트업 들이 실제 정책자금을 지원받는 주체가 되도록 하고, 또한 필요한 자금을 언제든 자유롭게 사용자 중심으로 자금지원 신청할 수 있도록 했다. 그래서 신용보증기금은 고객맞춤형으로 지원하게 되는 지원모델로서 '사용자 중심의 정책자금 지원 모형'을 제시하는데 의의를 가지고 있다. 그러나 중소기업들의 실제적인 상황 인식과 애로사항들을 모두 수용에 한계가 있기에 사용자 중심의 정책자금 지원 모형의 과학적 접근을 위하여 신용보증기금과 관련 지원기관 등이 스타트업의 정책자금 실태에 대한 체계적 분석이 필요하다.