• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.5
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• pp.63-72
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• 2018

The purpose of this study was to analyze the survival rate and survival characteristics of young start-up entrepreneurs supported with public financing, by using non-parametric statistic of Kaplanr-Meier Analysis on non-financial data. Average survival periods of different survival characteristics have been estimated by dividing the age groups into 20s and 30s. After then, the main variables affecting the survival period have been analyzed. 3,825 firms guaranteed by Credit Guarantee Institutions in Korea were used as database for the analysis. 3,242 firms have survived while 583 firms have gone insolvent. The study period was from January 1, 2011 to December 31, 2017. Age-based breakdown of the business founders show that 3 variables in the 20s and 5 variables in the 30s are derived as the significant variables, resulting in the significant differences of each age group. In other words, the start-up support agencies and financial institutions need to develop a credit evaluation system that distinguishes the criteria of age range and find information that reflect the characteristics of entrepreneurs in their 20s as well as developing tailor-made financial products. Also, step-by-step support measures are required for the start-ups of high survival times and make them grow into promising SMEs. Meanwhile, non-financial support plans shall be invigorated along with the financial ones to help the start-ups of low survival times. This study is meaningful in that the survival analysis has been conducted by using the non-financial data of young start-up entrepreneurs. It is expected that the results of this analysis contribute to the enhancement of survival rate of start-ups by providing start-up support agencies and start-up business owners with the unique information of the survival characteristics.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.2
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• pp.97-107
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• 2014

Intensive studies have been focused on conditions for business foundation and the entrepreneurship in light of management, economy, and social psychometrics. This study focused on potential effect of entrepreneurial characteristics on environment for entrepreneurial intentions in establishment of orientation of entrepreneurial intentions. Among various factors affecting on starting small and medium size enterprises, how entrepreneur's personal characteristics is related on entrepreneurial intentions was investigated. Manifest questionnaire was distributed among Venture to the professional graduate students, graduate entrepreneurship, and small business start-educated founders in order to deduce the relationship between the entrepreneurial characteristics and the environment of entrepreneurial Intentions. Previous studies and the literature survey were carried out to support for statistics of the questionnaire. 550 answers were collected and analyzed to find that propensity for achievement, innovation, enterprising, risk taking and creativity are key factors influencing inauguration of an enterprise. We have found that among these, risk taking, creativity, and innovation are analyzed to be as a regression coefficient but enterprising a side regression coefficient. Since this study can find its limitation in that comprehensive fields of entrepreneurship were analyzed in general, the result of this study should be used with caution, until more is known about its accessibility for predicting of success or failure of Start-up Company.

• Journal of the Korean Society of Food Culture
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• v.26 no.3
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• pp.211-219
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• 2011

To examine the key success factors for long-lasting restaurants, we visited 10 restaurants with 30 or more than 30 years of tradition, located in Seoul and Gyeonggi-do districts, to research these restaurant menus and customer characteristics by observation and interview. The results were analyzed using descriptive statistics. The outstanding feature noted was that each and every restaurant had its own simple and specialized menu. We found that this feature created a virtuous circle that reinforced itself through a positive feedback loop. The simple and specialized menu increased both the cooking efficiency and food quality while it reduced both food and labor costs, this enabled the customers to eat at an affordable price and have generous servings. This lead to customer satisfaction and revisits to the restaurant, which triggered word-of-mouth referral and expansion of their customer base. This in turn created higher operating profit margins that could be reinvested in the business. The secret recipes for cooking, invented by their founders, were passed on from generation to generation. Their customer base included customers of all ages from children to senior people. And their regular customers consisted of neighboring office workers and families traveling from a long distance. We hope that our findings on long-lasting restaurants, especially of the virtuous cycle created due to the simple and specialized menus with secret recipes, will contribute to the development of Korean style long-lasting restaurant model.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.4
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• pp.1-20
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• 2023

This study attempted to identify the relationship between the investment determinants of accelerators and investment performance through empirical analysis. Through literature review, four dimensions and 12 measurement items were extracted for investment determinants, which are independent variables, and investment performance was adjusted to the cumulative amount of subsequent investment based on previous studies. Performance data from 594 companies selected by TIPS from 2017 to 2019, which are relatively reliable and easy to secure data, were collected, and the subsequent investment cumulative attraction amount, which is a dependent variable, was hypothesized through multiple regression analysis three years after the investment. As a result of the study, 'industrial experience years' in the characteristics of founders, 'market size', 'market growth', 'competitive strength', and 'number of patents' in the characteristics of products and services had a significant positive (+) effect. The impact of independent variables on dependent variables was most influenced by the competitive strength of market characteristics, followed by the number of years of industrial experience, the number of patents, the size of the market, and market growth. This was different from the results of previous studies conducted mainly on qualitative research methods, and in most previous studies, the characteristics of founders were the most important, but the empirical analysis results were market characteristics. As a sub-factor, the intensity of competition, which was the subordinate to the importance of previous studies, had the greatest influence in empirical analysis. The academic significance of this study is that it presented a specific methodology to collect and build 594 empirical samples in the absence of empirical research on accelerator investment determinants, and created an opportunity to expand the theoretical discussion of investment determinants through causal research. In practice, the information asymmetry and uncertainty of startups that accelerators have can help them make effective investment decisions by establishing a systematic model of experience-dependent investment determinants.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.2
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• pp.141-156
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• 2023

The advancement of Information and Communication Technology (ICT), along with the expansion of government and private investment in startup discovery and funding, has led to the emergence of startups seeking to generate outstanding results based on innovative ideas. As successful startups serve as role models, the number of aspiring entrepreneurs preparing to launch their own startups continues to increase. However, unlike entrepreneurs who challenge themselves with serial entrepreneurship after experiencing success, early-stage startups face various challenges such as team building, technology development, and fundraising. Accelerators play a dual role of mentor and investor by providing education, mentoring, consulting, network connection, and initial investment activities to help startups overcome various challenges they face and facilitate their growth. This study investigated whether there is a correlation between the characteristics of startups and their entrepreneurial performance, and analyzed whether accelerators mediate the relationship between startup characteristics and entrepreneurial performance. A total of 11 hypotheses were proposed, and a survey was conducted on 302 startup founders and employees located across the country, including the metropolitan area, for empirical research. SPSS 23.0 and Amos 23.0 were used for statistical analysis. Through this study, it was found that factors such as innovation, organizational culture, financial characteristics, and learning orientation among the characteristics of startups, rather than having a direct impact on entrepreneurial performance, are linked to entrepreneurial performance through the role of accelerators. By analyzing the impact factors of startup characteristics on entrepreneurial performance, this study presents research on the role of accelerators and provides institutional improvements. It is expected to contribute to the expansion of investment and differentiated acceleration programs, enabling startups to seize the market and grow stably in the market.

• Journal of the Korean Geographical Society
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• v.44 no.4
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• pp.532-543
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• 2009

The foodservice franchise is preferred by the founders who inaugurate a business enterprise, because it is not difficult to convert into money more than other private enterprise. The success or failure of the foodservice franchise depends 80 percent on its location. Therefore, this research aimed to study the location factors of the first shops of foodservice franchise in Seoul through the analyses of nearest neighborhood effect and statistical relationship between variables. According to there results, the location characteristics of the first shops of foodservice franchise are summarized as in the following three items. First, the spatial distribution pattern of the first shops is a clustered type. Second, the first shops relate to the 15 variables which are the number of financial facilities, the number of business service offices, and the number of hotels and restaurants, etc. Third, the main location factor of the first shops is the number of financial facilities. In conclusion, it is estimated that Gangnam-gu and Jung-gu might be good for the location of the first shops of foodservice franchise in Seoul, because these two places have many financial buildings.

• Journal of Digital Convergence
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• v.10 no.11
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• pp.103-114
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• 2012

The study is analyzed that policy support impact on youth entrepreneurship and to purpose enhancing the effectiveness of the policy support, would like to empirical study on support performance by start-up support program through education level of the founder, performance of the establishment enterprises and an empirical study of start-up support. This study reported that start-up support should be different from impact of performance of support by young founder to participate in the success of entrepreneurship incubator package or preliminary young founders and is focused on study of policy support. Examines the literature of associated young founder's characteristics and entrepreneurship support policies at domestic and foreign, and the government's support policies in order to achieve the purpose of this study, survey research as the basis of the model was set. This study surveyed to university student which were trained nationwide entrepreneurship program in order to validate the research model. The survey targeted engineering students who is practical technology foundation possible during from June 1, 2012 to June. 15, 2012, the way of data collection was directly surveryed to engineering students who participated in the entrepreneurship program. and an empirical analysis were collected each 157 call.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.2
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• pp.1-13
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• 2014

This study is preliminary founding start-ups of restaurant entrepreneurs to study the characteristics of management in order to provide useful information was studied. Survey period is from 2013 March 15 to August 31. About the nature of the preparation and establishment founder findings restaurant entrepreneurs of Western Gyeongnam area were most often in the form of an independent establishment has been compiled, work experience and other industries operating experience was more than restaurant entrepreneurs of operating experience. Hypothesis Testing in accordance with results of this study are as follows. First, the 50 founders than 30 founders quickly when the customer complaint or that service, order food and non-food note is issued after obtaining the order or that provide food, no customer is often inconvenient check the sharing services, such as personnel activities were devoting a lot of effort. Second, the re-startups restaurant entrepreneurs than new startups restaurant entrepreneurs was founded after the founder of career-related customer complaints about food more active coping was, and re-startups restaurant entrepreneurs by the founder other than business founded by the founder of the food-related customer complaints more aggressively for coping, respectively. Third, restaurant entrepreneurs of the store operations management has integrity, words and actions match, such as the degree of belief in the promise of reliability and the possibility of failure, which means the degree of recognition and response efforts are having an impact deal. Fourth, restaurant of food service management services and after-sales service has impact on the founder of the self-efficacy and self-efficacy of pre-service features and reliability founder affecting. Fifth, the revenue of the restaurant for dealing with customer complaints management includes efforts are having an impact. Sixth, restaurant founder of reliability and customer care has influenced the self-efficacy. Seventh, management of operational management activities have a positive impact on business performance are.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.6
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• pp.89-104
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• 2022

Entrepreneurship by seniors who have accumulated skills and expertise in the industrial field is very important from a social point of view. This study aimed at seniors to find out the major start-up capabilities of seniors in an economic situation where instability factors and uncertainties are amplified due to the social structure of jobs that has changed due to COVID-19 during the 4th industrial revolution and the rapidly progressing high interest rates and global supply chain problems. The purpose of this study was to empirically verify how variables affect entrepreneurial intention. In addition, from the perspective of mindset, which is the individual psychological characteristic of pre-entrepreneurs, we tried to empirically verify whether growth mindset and fixed mindset have a significant effect on senior entrepreneurship intention. The psychological characteristics of founders were approached from the perspective of mindset, and an attempt was made to apply them to the field of entrepreneurship and to obtain practical implications. This study empirically analyzed the effects of growth mindset, fixed mindset, technical competency, network competency, and funding competency, which are components of mindset, on senior entrepreneurial intention, and verified the mediating effect of entrepreneurial efficacy. As a result of the empirical analysis, it was verified that growth mindset and technological competency had a positive (+) effect on entrepreneurial intention. In addition, it was verified that the mediating effect of entrepreneurial efficacy was significant in the influence of growth mindset and technological competency on entrepreneurial intention, and it was verified that growth mindset and technological competency are important variables in senior entrepreneurship. The study results provide the following policy implications. In order to activate senior entrepreneurship, first, to maximize the effect of founder education, programs such as customized entrepreneurship education that match the growth mindset characteristics, which are the psychological characteristics of founders, are needed. Second, it is required to expand the base of technology startups by expanding government support, such as expanding low-interest policy financing, for senior startups with technological capabilities and expertise. Third, it is necessary to provide institutional support for starting a business, such as providing a start-up program even before retirement, so that the expertise and technology accumulated by seniors can be linked to start-ups even after retirement.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.1
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• pp.139-149
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• 2019

The purpose of this study is to contribute to the minimization of the social cost due to the insolvency by improving the success rate of the startups by providing useful information to the founders and the start-up support institutions through analysis of non-financial information affecting the failure of the startups. This study is aimed at entrepreneurs. The entrepreneurs that are defined by the credit guarantee institutions generally refer to entrepreneurs within 5 years of establishment. The data used in the study are sampled from the companies that were supported by the start-up guarantee from January 2014 to December 2013 as the end of December 2017. The total number of sampled firms is 2,826, 2,267 companies (80.2%), and 559 non-performing companies (19.8%). The non-financial information of the entrepreneur was divided into the entrepreneur characteristics information, the entrepreneur characteristics information, the entrepreneur asset information and the entrepreneur 's credit information, and cross-tabulations and logistic regression analysis were conducted. As a result of cross-tabulations, univariate analysis showed that personal credit rating, presence in the industry, presence of residential housing, presence of employees, and presence of financial statements were selected as significant variables. As a result of the logistic regression analysis, three variables such as personal credit rating, occupation in the industry, and presence of residential house were found to be important factors affecting the failure of founding companies. This result shows the importance of entrepreneur 's personal credibility and experience and entrepreneur' s assets in business management. The start-up support institutions should reflect these results in the entrepreneur 's credit evaluation system, and the entrepreneurs need training on the importance of the personal credit and the management plan in the entrepreneurial education. The results of this analysis will contribute to the minimization of the incapacity of startups by providing useful non-financial information to founders and start-up support organizations.