• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.1
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• pp.33-46
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• 2019

Even though Korea is strengthening the support for startups due to the limitations of growth policies focusing on large companies, the survival rate of startups is very low, so that there should be more efforts to increase the survival rate of startups. As the existing startup support institutions have provided only fragmentary supports to startups, it would be necessary to have the comprehensive support institutions. As an alternative, the accelerator providing the comprehensive support such as spatial support, education, mentoring, networking, seed investment, and connection for follow-up investment to the initial startups was legalized in Korea of 2016, based on the registration system. Currently, within less than two year from then, there have been much interest in it enough to have about 136 registered accelerators. In the United States, the accelerator was introduced more than ten years ago. In Korea, however, it is still in the initial stage, so that the researches or social consensus on the accelerator are not sufficient. Thus, this study aims to suggest the measures for the development of accelerator and the consensus on the decision making for the selection of accelerator of startups, by researching which parts are considered when startups in the accelerator stage select the accelerator. As a result of the empirical analysis, the factor that has the greatest influence on decision making factors when startup chooses an accelerator was the subsequent investment attraction. This can be explained to the accelerator as desired, considering the factor that the startup of the initial stage places the most importance on growth as investment. We hope that these research results will be sustainable in future research related to accelerators, in hopes that it will be useful for establishing accelerator policies for domestic startups and direction for revitalizing related industries.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.6
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• pp.201-214
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• 2023

This study attempted to analyze the impact of individual entrepreneurial capabilities on entrepreneurial intention targeting small and medium-sized business employees, and sought to confirm the mediating effect of entrepreneurial efficacy and entrepreneurial mentoring between entrepreneurial capabilities and entrepreneurial intention. The sub-variables of entrepreneurship competency were analyzed separately into creativity, problem solving, communication, and marketing. 368 questionnaires collected from employees at small and medium-sized manufacturing companies located across the country were used for empirical analysis. A parallel dual mediation model with no causal relationship between parameters was used for empirical analysis using SPSS v26.0 and PROCESS macro v4.2. As a result of the analysis, first, among the start-up competencies, creativity, communication, and marketing were confirmed to have a significant positive (+) effect on start-up efficacy. Second, among the start-up competencies, creativity, communication, and marketing were tested to have a significant positive influence on start-up mentoring. Third, both startup efficacy and startup mentoring were found to have a significant positive influence on startup intention. Fourth, among start-up capabilities, creativity and marketing were confirmed to have a significant positive (+) effect on start-up intention. Fifth, startup efficacy and startup mentoring were found to have a mediating effect on startup intention except for problem solving among startup competencies. As a result, it was confirmed that in order to strengthen the intention to start a business among small and medium-sized business employees, start-up efficacy and start-up mentoring are important factors, and that marketing and creativity have an important influence among individual start-up capabilities, so education and prior preparation for these are necessary. As follow-up research, it will be necessary to apply multivariate models, analyze time series data, research considering external environmental factors, and test the difference between start-up capabilities and performance considering detailed population characteristics.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.5
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• pp.193-203
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• 2014

This study was to highlight the importance of elements of flower fair to organizer who organize flower fair in local community, to increase of participancy in flower fair exhibition with informing experience element and finally to increase incomes of flower farmhouse. To investigate degrees of interest of visitors on experience marketing of exhibition factors in flower fair, survey was conducted for 278 target audiences and data was analyzed to find the effect of experience marketing of exhibition factors in flower fair on the interest of purchasing. To population statistics, female took majority, 61.9% in sex, twenties, 34.5% in ages, married, 50.7% in marriage and students, 36.7% in job. University graduation occupied 58.3% in education, one million something, 48.6% in average income, seoul showed 38.1% in resident cities and 1st time visit was 79.9% in flower fair visit. For statistical categories, technology statistics analysis and reliability analysis were conducted. To check validity, factor analysis was conducted, and to see interrelationship of factors, using regression analysis, fluence among factors was analyzed. Results showed that exhibition environment of flower fair was effected by cultural elements, exhibition quality and exhibition service were effected by event and cultural element, exhibition marketing was effected by cultural and image element and purchasing interest was effected by image element.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.10 no.2
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• pp.59-67
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• 2015

This studying is on the degree of reuse that runs from Seoul Palace Y elderly welfare and general social demographic is to the welfare service factors of the path Restaurant (hygiene, workers, convenience, food, accessibility, environmental, and social relationships), and influence, the process of was to effect on determining on to the mediating effect on the satisfaction with the meals ages overrun 65 years using the path restaurant was applied to the final total of 310 valid samples were subjects. We take advantage of SPSS 19.0, the first study showed that rental housing other all the factors affecting the satisfaction of catering service factor analysis of the demographic characteristics. Showed Secondly, characteristics and service factors, one of the demographic characteristics education, service factors that affect all of the factors identified in the reuse of reclaimed relationship satisfaction and feed results. Third, there are the demographic characteristics and service factors and the relationship of re-verifying the mediating effect of feeding satisfaction results, effects a positive the degree of reuse factor and the employees of the catering service satisfaction. Therefore, continued and investment is outer required the efforts of local governments for quality of service and satisfaction path restaurant you will be looking improving them for ways towards attention improve the multilateral environmental Furthermore Feed.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.3
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• pp.223-231
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• 2020

Governments and private companies have established various local entrepreneurial infrastructure institutions in most regions in order to reduce youth unemployment, and boost youth entrepreneurship and regional employment. However, previous studies has been limited to explore the impact of the entrepreneurial infrastructure institutions on the willingness of start-up entrepreneurs. Thus, the main purpose of this study is to fill in the gaps of the research, identify the effect of the entrepreneurial infrastructure institutions on regional employment focusing on the Partner Squares which are entrepreneurial infrastructure institutions in several regions and established by N company, and set a foundation for further research regarding the effectiveness of the entrepreneurial infrastructure institutions. In order to verify the effectiveness of the Partner Squares on the local employment, we use the raw data of the Economically Active Population Survey (Statistics Korea) and analyze the effectiveness by using the Difference-in-Differences model. The main findings are as follows. While the Partner Square Seoul has not statistically influenced on the employment of local youth workers, the Partner Square Busan has increased about 3% of the average number of employees (575 thousand) from May 2017 to July 2019, increasing the number of local youth workers by 17,000. Also, after the establishment of the Partner Square Gwangju, the institution has increased 4,500 local employees, which is about 1.7% of the average number of employees (267,000) from September 2018 to July 2019. This implies that the Partner Squares provide a variety of effective start-up education programs and networks for pre-starters and founders in the region, thereby helping them to grow and boosting the local employment. An important implication is that by using government statistical data, we find roles of entrepreneurial infrastructure institutions to revitalize local economy and employment. In future studies, studies need to be conducted considering various exogenous variables that can affect local employment, such as the government industrial policies and entrepreneurial infrastructure institutions other than the Partner Squares.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.2
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• pp.129-140
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• 2022

Micro and small enterprises are businesses that absorb the most labor in Korea. The position of micro and small enterprises in the national economy has an important and strategic role because micro and small enterprises are quite dominant in the Korea economy. The purpose of this study is to look at the effect of the CEO' business experience, competency(job competency, money competency, digital competency), government support service(government support satisfaction, education support) on the performance. For this study, data was collected from 220 CEO by using questionnaires. The statistics analysis SPSS 24.0 was used, it is a factor analysis, reliability test and multiple regression analysis for hypothesis verification. The research results are as follows. First, as a result of examining the effect of the CEO competency on the performance, it was found that among the competency factors, money competency and digital competency had a significantly positive (+) effect on the performance. Second, as a result of examining the effect of government support service on the performance, government support satisfaction, education support had a positive (+) effect on the performance. Thirdly, in the relationship between CEO' business experience, competency, government support service and performance, the mediating effect of self efficiency was significant money competency→self efficiency→performance, digital competency→self efficiency→performance.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.4 no.1
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• pp.89-111
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• 2009

Since the financial crisis in 1997, the Korean economy has a steady increase of people who tend to establish their own business by 2008. Business foundations can be divided into independent businesses and franchise businesses. This study focuses on what type of business owners among franchise enterprisers can achieve success. This is intended to reduce trial and error by drawing upon success factors in the stages of establishment, operation, and achievement based on a total sample of 350 individual business sites. The result shows that the success factors in the stage of establishment include (1) Preparation such as foundation education (2) Marketing capability (3) Appropriateness of Business Item (4) Other founder's entry barrier, conglomerate's entry regulation and (5) Head Office Support including service education, market survey education, marketing support. On the other hand, the success factors in the stage of operation include the supervisor capability, Marketing capability, Head Office Support, Customer Management Capability and Employee Satisfaction. Additionally after choosing the major factors according to each stage, multiple regression analysis was processed and interpreted. Finally, we believe that the franchise or independent business foundations can make a profit as well as increase continuous sales and customer satisfaction only with thorough and careful preparation in all stages of foundation and operation. This study is expected to contribute to those who prepare new business in franchise domain to minimize failures with deep consideration of the success factors in the franchise.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.5
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• pp.185-196
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• 2023

This paper investigates the effects of entrepreneurs' cognitive biases on business opportunity evaluation, given their strong entrepreneurial spirit, which is characterized by innovation, proactivity, and risk-taking. When making decisions related to business activities, entrepreneurs typically make rational judgments based on their knowledge, experience, and the advice of external experts. However, in situations of extreme stress or when quick decisions are required, they often rely on heuristics based on their cognitive biases. In particular, we often see cases where entrepreneurs fail because they make decisions based on heuristics in the process of evaluating and selecting new business opportunities that are planned to guarantee the growth and sustainability of their companies. This study was conducted in response to the need for research to clarify the effects of entrepreneurs' cognitive biases on new business opportunity evaluation, given that the cognitive biases of entrepreneurs, which are formed by repeated successful experiences, can sometimes lead to business failure. Although there have been many studies on the effects of cognitive biases on entrepreneurship and opportunity evaluation among university students and general people who aspire to start a business, there have been few studies that have clarified the relationship between cognitive biases and social networks among entrepreneurs. In contrast to previous studies, this study conducted empirical surveys of entrepreneurs only, and also conducted research on the relationship with social networks. For the study, a survey was conducted using a parallel survey method using online mobile surveys and self-report questionnaires from 150 entrepreneurs of small and medium-sized enterprises. The results of the study showed that 'overconfidence' and 'illusion of control', among the independent variables of entrepreneurs' cognitive biases, had a statistically significant positive(+) effect on business opportunity evaluation. In addition, it was confirmed that the moderating variable, social network, moderates the effect of overconfidence on business opportunity evaluation. This study showed that entrepreneurs' cognitive biases play a role in the process of evaluating and selecting new business opportunities, and that social networks play a role in moderating the structural relationship between entrepreneurs' cognitive biases and business opportunity evaluation. This study is expected to be of great help not only to entrepreneurs, but also to entrepreneur education and policy making, by showing how entrepreneurs can use cognitive biases in a positive way and the influence of social networks.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.1
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• pp.259-268
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• 2020

The purpose of this research is to investigate the determinants of life satisfaction and social support among the elderly. For this purpose, a set of characteristic factors that are supposed to affect elderly life satisfaction were suggested and empirically analyzed. To achieve this study used final analysis with 470 questionnaires which did a questionnaire survey after gathering purposeful sampling method of 500 person who were visiting on Senior Club and Senior Welfare Center. The collected data were analyzed by using the SPSS statistical program. The methods of analysis were frequency, factor analysis, and regression analysis. The results of this study are as follows. Firstly, characteristic factors such as the family relation, health and economic of the elderly have significant impacts on their life satisfaction. Secondly, it was seen that social support regulated the effects of family relation and economic on characteristic factors. The implications of this study are, above all, to build a human network for training, education and social support for career development while participating in the labor market. Such activities could lead to social support for economic independence in old age.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.4
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• pp.27-36
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• 2016

Venture companies, which can commercialize various kinds of new ideas and creating added value, are amid of great attention. Since most of venture companies in initial development stages cannot finance its capital sufficiently all by their own, investments from outside investors are key factor to their survival. However, they have lots of difficulties in financing from outside investors because of their typical uncertain but favorable investment characteristics. Moreover, even though they had successfully financed from outsiders, problems related to their stakeholders, such as interrupting in management and types of investments, cause contrary results to firms. Therefore there are various kinds of systems for startups like angels, venture capitals and governmental supports. Even so, investments and supports for venture companies are still not sufficient. 'Accelerator', which is a brand-new investment type started from Silicon Valley in United States during the mid 2000, is growing attention these-days. It mainly supports startups financially in the initial development stages, however, it also supports the firms by providing mentoring, education and networking services. On the other hand, difference between existing investment types and performance of the investment is still in controversy. Therefore this study compared investment behavior between accelerator and venture capital. As a result, we found that the difference in investment behavior of accelerators and venture capital.