• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.10 no.4
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• pp.67-80
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• 2015

Although recent policies and regulations in Korea strongly advocate and encourage cultivation of venture foundations, studies on venture foundation and success are very limited and often primarily focus on entrepreneurship or individual quality as a venture founder in addition to such studies' validity in question. Therefore, this study primarily focuses on venture preparation process which is subject to venture founder's effort to verify the policy effectiveness in the relationship between venture preparation and business performance. Major goal of this study is to reduce social cost of venture failure by suggesting systematic policy support for venture foundations and analyzing the relationship between following variables: first, venture preparation and financial performance, second, venture preparation and non-financial performance, and third, venture preparation and business performance. 400 initial venture foundations less than 5 years are selected from KISED(Korea Institute Startup & Entrepreneurship Development) trend analysis to carry out statistical analysis using SPSS 18.0. To organize the data features, frequency analysis as well as descriptive statistics are performed to verify the hypothesis. As a result, sub-factors in measurement of venture preparation which are venture education period, venture benefit, and experience of incubating organization are selected as independent variables. Likewise, sub-factors in measurement of business performance which are financial performance and non-financial performance are used as dependent variables. To validate interactive effect, venture preparation period is selected as control variable to perform hierarchical regression analysis. The analysis result verifies that venture benefit has positive influence on financial and non-financial performance while venture education period has positive influence on non-financial influence and experience of incubating organization has negative influence on non-financial performance without influence on financial performance. In addition, interaction of venture preparation period has positive influence solely between venture benefit and non-financial performance. Through this study, appropriate supporting plans depending on the level of venture preparation can be derived to improve business performance of initial venture foundations for policy designer of venture support, and quality rather than quality improvement of venture businesses is possible through investigation of structural issues of individual venture businesses. Ultimately, this study suggests venture founders to determine whether to focus on venture preparation process or to start a venture business.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.10 no.7
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• pp.1696-1701
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• 2009

In this paper we analyzed the management performance as the result of the korean government's support policy for the small and medium sized business (SMB). The governmental support policy was carried out for the companies classified in 3 criterion. The first is the upbringing of dynamic SMB group, which are driven by creativity and innovation. The second is the enforcement of technology-innovation and cooperation for SMB. The last is the establishment of the growth basis for SMB like funds, human resources and distribution channels. After categorization of above 3 classes, the affect of support policy on the management performance is analyzed, in terms of 3 aspects, management performance, technical performance and policy satisfaction. This study shows that the governmental support policy has the remarkable effects on the financial support sector of SMB. The 5 major sectors, 1) the upbinging of venture-innobiz innovation company, 2) rearing funds of knowledge-based service company, 3) R&D support, 4) support of management stability fund, 5) expansion of distribution channel to the public sector, are designed from 24 variables. The 3 sectors of these 5 are have the main influences from governmental support policy.

• Journal of Information Technology Applications and Management
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• v.29 no.3
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• pp.75-93
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• 2022

The purpose of this study is to compare and analyze each government's ICT SME support policies to cope with changes in the ICT ecosystem paradigm. In particular, the core policies and policy trends of the Moon's government are presented through keyword network analysis and cognitive map analysis. As a result, core technologies such as ICT(Information Communication Technology), AI(Artificial Intelligence), Big Data, and 5G, which have high values of betweenness centrality and closeness centrality, are major keywords with high propagation power. The cognitive map analysis shows that the opportunity factors for the 4th industrial revolution are being activated through the ICT infrastructure circulation process, the domestic market circulation process, and the global market circulation process. This study is meaningful in terms of cognitive map analysis and utilization based on scientific analysis.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.19 no.4
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• pp.243-254
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• 2024

In recent years, as support for venture companies and performance increase, investment scale increases. To support them goverment operates venture firm confirmation system as a part of a variety of policies. Many studies suggest venture confirmation system offer the practical assistance on performance of venture companies. However, simply venture firm confirmation system affects on performance of venture companies. This study sought to develop a theoretical research model about the impact of innovation capabilities and industrial property rights on venture companies' financial performance and technological capabilities through the venture company confirmation system. The following hypotheses were tested. First, the innovation capabilities of venture companies such as development capability, manufacturing capability, marketing capability, level of cost leadership, level of high added value, degree of clarity of business model, and degree of innovation of business model have a significant impact on the venture company confirmation system. Second, the industrial property rights of venture companies, such as the number of domestic industrial property rights, foreign industrial property rights, industrial property rights in domestic applications, and industrial property rights in overseas applications, do not have a significant impact on the venture business confirmation system. Third, the benefits of the venture business confirmation system, such as promotion of technology development, advertising effects, tax benefits, securing excellent human resources, financing and investment incentives, advantageous participation in government support systems, and deregulation, are related to the financial performance of venture businesses such as sales and operating profit., net profit and technological level. Lastly, it was confirmed that, except for research and development type venture companies, innovation capabilities and industrial property rights do not have a significant impact on financial performance and technological capabilities through the venture confirmation system. The implications of this study mean that in situations where a company's innovation capabilities are lacking, the supply and demand of the venture business confirmation system is weak. Therefore, in order to improve the benefits of the venture business verification system, it is necessary to operate the venture business verification system benefits mainly for companies with high corporate capabilities. Next, it means that industrial property rights are not related to the venture business confirmation system. Therefore, there will be no need to consider industrial property rights as an important matter in the certification of the venture business verification system. Lastly, the higher the level of benefits from the venture business confirmation system, the greater the company's performance and technological capabilities. Therefore, efforts should be made to utilize the venture business verification system in a way that can improve performance or technology through the benefits of the venture business verification system.

• Journal of Digital Convergence
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• v.15 no.10
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• pp.501-512
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• 2017

The purpose for this study was to figure out the effect factors of baby boom generation' leisure and preparation for old aged on life satisfaction and moderated regression for spouse support. A survey of baby boom generation who are living in Seoul and metropolitan areas was conducted 406 collected data. The results are as follows. First, Leisure had influences on life satisfaction. Second, Preparation for old aged and independent leisure had a positive effect on life satisfaction. Third, Preparation for old aged had mediate leisure on the effect on life satisfaction. Fourth, spouse support. had moderated regression leisure on the effect on life satisfaction. Fifth, Moderated regression for spouse support. had a negative effect on life satisfaction mediated economic preparation for old aged and had a positive effect on life satisfaction mediated physical preparation for old aged.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.2
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• pp.75-87
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• 2016

This study examines the impact of government funds to venture capital on investment in early-stage firms. We provide novel explanations about this relationship focusing on mechanisms by which government funds influence the perceived uncertainty, decision about investment priority, scale economy of investment, information asymmetry in investment decision, and capital expense. We argue that venture capital's investment in early-stage firms increases as government funds increase and as government funds are explicitly directed for early-stage firms. However, we further claim that the impact of government funds on early-stage investment will be decreasing as their size increases and finally be reverted to negative impact beyond a certain amount of funds to show inverse-U relationship. Our empirical examination using data from 105 Korean venture firms active as of 2013 consistently supports the claims. This study contributes to the venture capital literature by providing novel arguments about mechanisms and effects of policy intervention in venture capital. In practice, we expect our results will provide an opportunity for relevant policy makers to review their venture support policy based on empirical evidences for policy effects.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.10 no.2
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• pp.69-76
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• 2015

This paper aims to analyze how the Venture Business Tendency of North Korean refugees affects social adaptation and family health, and to provide proposals for policy making on the issue. For the purpose, we specifically suggest analysis of activation plan that 48 Venture Business North Korean managed Enterprise types, Entrepreneur type, Business type, Gender, Profit etc. As a result of analysis of actual proof, First, The Venture Business North Korean refugees managed need to consult to be technology business professionally because they features to be self-employment than expertise and knowledge basis type. Second, the rate of success of North Korean refugees is researched that female is higher than male. Third, to support Venture Business of North Korean refugees, they need one on one incubating support syspen why they are inexperienced in network, technical skills. Fourth, Venture Business Tendency of North Korean refugees affects social adaptation and family health. Since mid 1990's, North Korean refugees have come to South Korea through China or third countries due to collapsing economy of North Korea. In an effort to help those escaping from North Korea, the Seoul government provided them with a 3-month settlement program. But they have had experienced difficulties in communication, cultural assimilation, and confusion in their value system and identity. For the purpose, one-on-one interview was carried out on 45 North Korean refugees living in Seoul and neighboring cities, and the interviewed group was classified into three categories: single households, single-parent families and families with parents. The study findings demonstrated four policy alternatives to help improve quality of life of North Korean refugees and to help their successful settlemen.

• Journal of Venture Innovation
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• v.5 no.4
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• pp.1-21
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• 2022

Entrepreneurship has been emphasized in social and national importance. However, survival rate of domestic startups is relatively low. Therefore, it is urgent to come up with a plan to increase the survival rate by improving the satisfaction level of early start-ups. In this study, we investigated the effect of start-up motivation, start-up competence, and start-up support policies of early start-up companies on start-up satisfaction and the moderating effect of social support. Startup motivation were divided into economic motivation and self-actualization motivation in detail. Start-up competence was divided into experience competency and marketing competency in detail. The start-up support policy was divided into start-up fund support and start-up consulting support. An empirical analysis was conducted by receiving online and offline questionnaires from 250 managers of early start-up companies within 7 years of founding. As a result, economic motivation, self-actualization motivation, experience competency, marketing competency, and start-up fund support had a significant positive (+) effect on start-up satisfaction. However, start-up consulting support did not have a significant effect. In addition, the size of the influence on startup Satisfaction was in the order of self-actualization motivation, experience competency, marketing competency, startup fund support, and economic motivation. The moderating effect of social support was found in economic motivation, self-actualization motivation, and experience competency. However, the moderating effect of marketing competency, start-up fund support, and start-up consulting support was not tested. Through the research results, the academic implications that self-actualization motivation and experience competency are key factors in enhancing start-up satisfaction were suggested. In addition, practical implications were suggested that it is necessary to improve the effectiveness of entrepreneurship education programs and entrepreneurship consulting support systems that can maximize the self-realization and experience capabilities of early entrepreneurs.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.2
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• pp.235-251
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• 2020

This study aimed to confirm the quality of exhibitions and the effectiveness of government's policy support for small and medium-sized companies seeking to help companies expand overseas marketing and improve their performance through participation in overseas exhibitions. For the purpose of empirical analysis, the survey was conducted directly to exhibitors of companies participating in overseas exhibitions with the support of government for three years from 2016 to 2018. As a result, the quality characteristics of overseas exhibitions had a significant positive influence on re-participation intention, and the influence was the most important in organizer's capacity, followed by exhibition reputation and exhibition environment. In addition, quality characteristics had a significant effect on participation performance, and participation performance had a partial mediating effect on re-participation intention. The government's policy support had a significant moderating effect between participation performance and re-participation intention, and the conditional indirect effect (adjusted mediating effect) on the effect of quality characteristics on re-participation intention through participation performance. This study has an academic significance in confirming the mediating effect of participation performance and the moderating effect of government policy support.

• Journal of Digital Convergence
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• v.11 no.12
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• pp.811-820
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• 2013

This study aimed at analyzing the effects of economic and leisure activities and social supports on the life satisfaction level of the olders who live in the Seoul city and surroundings and finding out the differences in the variables such as the economic and leisure activities, social support and life satisfaction level according to the demographics variables of the older. And the results are as follows. First, the education level, the status of living with spouse, status of economic and health conditions have positive influences of life satisfaction lever of the older. But the participation duration and frequencies of the economic and leisure activities do not affect on the life satisfaction level of the older. Second, the social support has an influence on the life satisfaction level of the older. Third, the differences in the variables such as social participation social support and life satisfaction lever of the older according to the demographic variables were found out partially.