• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.4
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• pp.57-71
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• 2022

The purpose of this study was to analyze the perception and demand of local youth and to find ways to support universities in order to create an youth start-up ecosystem. To this end, 509 young people living in Seoul were analyzed to recognize and demand young people in the region for youth start-ups, and to support universities. The findings are as follows. First, as a result of analyzing young people's perception of youth start-ups in the region, the "Youth Start-up Program" was analyzed the highest in terms of the demand for regional programs by university. In addition, there was a high perception that the image of youth startups in the region was "challenging" and "good for changing times." Second, after analyzing the demand for support for youth start-ups in the region, it appeared in the order of mentoring, start-up education, and creation of start-up spaces. And it showed different needs for different ages. Third, the results were derived from analysis of the demand for university support for the creation of a regional youth start-up ecosystem, the criteria for selecting local youth start-up support organizations, and the period of participation in local youth start-up support. Based on the results of the above research, the implications and suggestions of university support for the creation of a community of youth start-up ecosystem are as follows. First of all, it is necessary to develop and operate sustainable symbiosis mentoring programs focusing on university's infrastructure and regional symbiosis. Second, it is necessary to develop and utilize step-by-step systematic microlearning content based on the needs analysis of prospective youth start-ups. Third, it is necessary to form an open youth start-up base space for local residents in universities and link it with the start-up process inside and outside universities. The results of this study are expected to be used as basic data for establishing policies for supporting youth start-ups and establishing and operating strategies for supporting youth start-ups at universities.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.1
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• pp.173-188
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• 2023

This paper analyzed the Earnings management of firms selected as preliminary Unicorn. If a manager is selected as a preliminary unicorn firm, he can receive financial support of up to 20 billion won, creating a factor in managing the manager's earnings. The motive for management's earnings management is related to the capital market. Accounting information is used by investors and financial analysts, and corporate profits affect corporate value. Therefore, if the accounting earning is adjusted upward, the corporate value will be raised and investment conditions will be favorable. In this paper, earnings quality was measured by the modified Jones model of Dechow et al.(1995) by the ROA control model of Kothari et al.(2005) among the discretionary accruals estimated using an alternative accrual prediction model. Competing similar companies in the same market as the selected companies were formed, and the discretionary accruals were mutually compared to verify the research hypotheses, and only the selected companies were analyzed for the audit year and after the audit year. As a result of the analysis, it was found that the companies selected as preliminary unicorns had higher earnings management compared to the corresponding companies in question, which had a negative impact on the quality of accounting profits. It was found that the companies selected as preliminary unicorns continued to receive incentives for management's earnings management even after being selected. These results indicate that the companies selected as prospective unicorns are recognized for their value in the market through external growth rather than internal growth, and thus, incentives for management's earnings management to attract investment from external investors under favorable conditions are continuing. In the future preliminary unicorn selection evaluation, it was possible to present what needs to be reviewed on the quality of accounting earning. The implication of this paper is that the factors of management's earnings management eventually hinder investors and creditors from judging the reliability of accounting information. It was suggested that a policy alternative for the K-Unicorn Project, which enhances reliability were presented by reflecting the evaluation of earnings quality through discretionary accruals.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.1
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• pp.141-158
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• 2023

From the perspective of an entrepreneur, one of the most important factors for understanding the inherent limitations of a startup, reducing the risk of failure, and succeeding is the composition of the talent, that is, the founding team. Therefore, a common concern experienced by entrepreneurs in the pre-entrepreneurship stage or the early stage of startup is the choice between independent startups and co-founding start-up. Nonetheless, in Korea, the share of independent entrepreneurship is significantly higher than that of co-founding start-up. On the other hand, focusing on the fact that many successful global innovative companies are in the form of co-founding start-up, the success factors of co-founding start-up were examined. Most of the related preceding studies are studies that identify the capabilities and characteristics of individual entrepreneurs as factors influencing the survival and success of entrepreneurship, and there is a lack of research on partnerships, that is, co-founding start-up, which are common in the field of entrepreneurship ecosystems. Therefore, this study attempted a multi-case study through in-depth interviews, collection of relevant data, analysis of contextual information, and consideration of previous studies targeting co-founders of domestic startups that succeeded in opportunistic startups. Through this, a model for deriving the phased characteristics and key success factors of co-founding start-up was proposed. As a result of the study, the key element of the preliminary start-up stage was 'opportunity', and the success factors were 'opportunity recognition through entrepreneur's experience' and 'idea development'. The key element in the early stages of start-up is "start-up team," and the success factor is "trust and complement of start-up team," and synergy is shown when "diversity and homogeneity of start-up team" are harmonized. In addition, conflicts between co-founders may occur in the early stages of start-ups, which has a large impact on the survival of start-ups. The conflict between the start-up team could be overcome through constant "mutual understanding and respect through communication" and "clear division of work and role sharing." It was confirmed that the core element of the start-up growth stage was 'resources', and 'securing excellent talent' and 'raising external funds' were important factors for success. These results are expected to overcome the limitations of start-up companies, such as limited resources, lack of experience, and risk of failure, in entrepreneurship studies, and prospective entrepreneurs preparing for a start-up in a situation where the form of co-founding start-up is attracting attention as one of the alternatives to increase the success rate. It has implications for various stakeholders in the entrepreneurial ecosystem.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.5
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• pp.123-139
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• 2023

Incubating future social entrepreneurs is of increasing importance for governments and industries that aim to create positive social changes through innovative, market-based solutions. Considering the distinct and challenging nature of a social entrepreneurial career, prior research has explored various antecedents of the formation of social entrepreneurial intention. The current research aims to contribute to the literature by examining social class as a potential precursor of individuals' social entrepreneurial intention formation, with a specific focus on social entrepreneurial identity aspiration as the underlying psychological mechanism and communal narcissism as the contingent factor. Using a two-wave survey data collected among 144 potential entrepreneurs from South Korea, we tested a moderated mediation model to validate the research propositions. The findings can be summarized as follows. First, lower social class was associated with higher social entrepreneurial identity aspiration. Second, when communal narcissism was high(low), the negative relationship between social class and social entrepreneurial identity aspiration was stronger(weaker). Third, communal narcissism moderated the negative impact of social class on social entrepreneurial intention via its effect on social entrepreneurial identity aspiration. This study has significant implications on several fronts. First, we explore the motivations that drive individuals from lower-class backgrounds to participate in social entrepreneurship, going beyond the previous notion that a higher-class context promotes entrepreneurial pursuits. Second, we delve into the underlying mechanism and condition that influence the formation of social entrepreneurial intentions, highlighting the pivotal roles played by social entrepreneurial identity aspiration and communal narcissism. Our findings provide practical insights for institutions seeking to foster the involvement of prospective social entrepreneurs from lower-class backgrounds, thereby generating positive outcomes for marginalized communities.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.3
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• pp.115-125
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• 2023

The purpose of this study is to empirically identify the influence of social entrepreneurship on the formation of entrepreneurial motivation and entrepreneurial intention. In order to effectively achieve the purpose of the study, a research model and hypotheses are developed based on the results of a comprehensive review of relevant prior literature. The research model is set as social entrepreneurship including innovativeness, risk-taking, initiative, and social value orientation as independent variables, and entrepreneurship motivation is divided into intrinsic and extrinsic motivation. For the study, data were collected from a total of 114 social enterprise-related prospective entrepreneurs and early start-ups, and a research model and hypotheses analysis are conducted. The results of the empirical analysis are summarized as follows. First, all four components of social entrepreneurship were found to have a positive effect on intrinsic motivation. However, it is found that innovativeness and initiative among the components of social entrepreneurship has a positive effect on extrinsic motivation, whereas risk-taking and social value orientation has no significant effect on extrinsic motivation. Second, all four components of social entrepreneurship were found to have a positive effect on the entrepreneurial intention. Third, both intrinsic and extrinsic entrepreneurial motivation are found to have a positive effect on entrepreneurial intention. Finally, in the relationship between social entrepreneurship and entrepreneurial intention, both intrinsic and extrinsic entrepreneurial motivation are confirmed to have a positive mediating effect. This study specified the factors of social entrepreneurship and entrepreneurship motivation that affect entrepreneurship awareness and behavior targeting social enterprises with differentiated characteristics from existing for-profit enterprises. And through an empirical analysis of the influence relationship between these factors, an attempt was made to derive academic and practical implications.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.4
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• pp.21-35
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• 2023

Expectations surrounding generative AI technology and its profound ramifications are sweeping across various industrial domains. Given the anticipated pivotal role of the startup ecosystem in the utilization and advancement of generative AI technology, it is imperative to cultivate a deeper comprehension of the present state and distinctive attributes characterizing venture capital (VC) investments within this domain. The current investigation delves into South Korea's landscape of VC investment deals and prognosticates the projected VC investments by juxtaposing these against the United States, the frontrunner in the generative AI industry and its associated ecosystem. For analytical purposes, a compilation of 286 investment deals originating from 117 U.S. generative AI startups spanning the period from 2008 to 2023, as well as 144 investment deals from 42 South Korean generative AI startups covering the years 2011 to 2023, was amassed to construct new datasets. The outcomes of this endeavor reveal an upward trajectory in the count of VC investment deals within both the U.S. and South Korea during recent years. Predominantly, these deals have been concentrated within the early-stage investment realm. Noteworthy disparities between the two nations have also come to light. Specifically, in the U.S., in contrast to South Korea, the quantum of recent VC deals has escalated, marking an augmentation ranging from 285% to 488% in the corresponding developmental stage. While the interval between disparate investment stages demonstrated a slight elongation in South Korea relative to the U.S., this discrepancy did not achieve statistical significance. Furthermore, the proportion of VC investments channeled into generative AI enterprises, relative to the aggregate number of deals, exhibited a higher quotient in South Korea compared to the U.S. Upon a comprehensive sectoral breakdown of generative AI, it was discerned that within the U.S., 59.2% of total deals were concentrated in the text and model sectors, whereas in South Korea, 61.9% of deals centered around the video, image, and chat sectors. Through forecasting, the anticipated VC investments in South Korea from 2023 to 2029 were derived via four distinct models, culminating in an estimated average requirement of 3.4 trillion Korean won (ranging from at least 2.408 trillion won to a maximum of 5.919 trillion won). This research bears pragmatic significance as it methodically dissects VC investments within the generative AI domain across both the U.S. and South Korea, culminating in the presentation of an estimated VC investment projection for the latter. Furthermore, its academic significance lies in laying the groundwork for prospective scholarly inquiries by dissecting the current landscape of generative AI VC investments, a sphere that has hitherto remained void of rigorous academic investigation supported by empirical data. Additionally, the study introduces two innovative methodologies for the prediction of VC investment sums. Upon broader integration, application, and refinement of these methodologies within diverse academic explorations, they stand poised to enhance the prognosticative capacity pertaining to VC investment costs.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.5
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• pp.133-150
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• 2022

The purpose of this study was to develop a female entrepreneurial competency model. For the purpose, two Focus Group Interviews (FGI) were conducted with seven outstanding female entrepreneurs, and three expert reviews were conducted. In addition, in order to verify the validity of the provisional female entrepreneur competency model derived from the FGI and competency modeling expert review, the female entrepreneur competency model was finally confirmed through a survey of 442 female entrepreneurs. The results were as follows. First, a female entrepreneur competency model consisting of 6 competency groups and 25 competencies of entrepreneurship, emotion, business management, relationship management, strategic management, and multitasking, and 75 behavioral indicators describing each competency was developed. Second, sensibility and multitasking are competencies that reflect the characteristics of female entrepreneurs. In particular, 'social sense', which is the ability to be considerate of others in the emotional competency group and the ability to respond well to subtle nuances, and the multitasking competency group's unique strengths are women's ability to perform various tasks at the same time. The 'work-family control ability' of a female entrepreneur who maintains a balance between 'multi-tasking' and work and family is a representative competency of only female entrepreneurs. Third, the developed female entrepreneurship competency model is meaningful in that it not only increases female entrepreneurial competency so that prospective female entrepreneurs can successfully run a business through entrepreneurship education, but it also makes it easy for existing female entrepreneurs to reflect and improve their competencies. If we provide appropriate training programs to female entrepreneurs based on their competency, it will be possible to effectively enhance the entrepreneurial competency, which is the key to strengthening the competitiveness of female entrepreneurs. The female entrepreneur competency model developed through this study can provide a basis for future research on competency diagnosis and education needs analysis.

• Pediatric Infection and Vaccine
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• v.31 no.1
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• pp.37-45
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• 2024

Purpose: This study aimed to examine the clinical features and determinants of macrolide-unresponsive Mycoplasma pneumoniae pneumonia (MUMP) and to assess the differences in the time to fever resolution between doxycycline (DXC), tosufloxacin (TFX) and corticosteroid (CST) as second-line treatment. Methods: We retrospectively analyzed the medical records of patients under the age of 18 who were admitted to Nowon Eulji University Hospital between July 2018 and February 2020, diagnosed with mycoplasma pneumonia. Macrolide resistance was confirmed by detecting point mutations in the 23S rRNA gene. MUMP was clinically defined by persistent fever (≥38.0℃) lasting for 72 hours or more after the initiation of macrolide treatment. In cases of MUMP, patients were treated with an addition of CST, or the initial macrolide was replaced either DXC or TFX. Results: Out of 157 cases of mycoplasma pneumonia, 83 cases (52.9%) did not respond to macrolides. Patients with MUMP exhibited significantly higher C-reactive protein (CRP) levels (3.2±3.0 vs. 2.4±2.2 mg/dL, P=0.047), more frequent lobar/segmental infiltrations or pleural effusions (56.6% vs. 27.0%, P<0.001; 6.0% vs. 0.0%, P=0.032), and a higher prevalence of 23S rRNA gene mutations (96.4% vs. 64.6%, P<0.001) when compared to those with macrolide-susceptible M. pneumoniae pneumonia. In terms of second-line treatment, 15 patients (18.1%) responded to CST, 30 (36.1%) to DXC, and 38 (45.8%) to TFX. The time to defervescence (TTD) after initiation second-line treatment was significantly shorter in the CST group compared to the DXC (10.3±12.7 vs. 19.4±17.2 hours, P=0.003) and TFX groups (10.3±12.7 vs. 25.0±20.1 hours, P=0.043), with no significant difference observed between the DXC and TFX groups (19.4±17.2 vs. 25.0±20.1 hours, P=0.262). Conclusions: High CRP levels, the presence of positive 23S rRNA gene mutation, lobar or segmental lung infiltration, and pleural effusion observed in chest X-ray findings were significant factors associated with macrolide unresponsiveness. In this study, CST demonstrated a shorter TTD compared to DXC or TFX. Further, larger-scale prospective studies are needed to determine the optimal second-line treatment for MUMP.

• Journal of the Korean Society of Radiology
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• v.83 no.2
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• pp.344-359
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• 2022

Purpose To develop a denoising convolutional neural network-based image processing technique and investigate its efficacy in diagnosing breast cancer using low-dose mammography imaging. Materials and Methods A total of 6 breast radiologists were included in this prospective study. All radiologists independently evaluated low-dose images for lesion detection and rated them for diagnostic quality using a qualitative scale. After application of the denoising network, the same radiologists evaluated lesion detectability and image quality. For clinical application, a consensus on lesion type and localization on preoperative mammographic examinations of breast cancer patients was reached after discussion. Thereafter, coded low-dose, reconstructed full-dose, and full-dose images were presented and assessed in a random order. Results Lesions on 40% reconstructed full-dose images were better perceived when compared with low-dose images of mastectomy specimens as a reference. In clinical application, as compared to 40% reconstructed images, higher values were given on full-dose images for resolution (p < 0.001); diagnostic quality for calcifications (p < 0.001); and for masses, asymmetry, or architectural distortion (p = 0.037). The 40% reconstructed images showed comparable values to 100% full-dose images for overall quality (p = 0.547), lesion visibility (p = 0.120), and contrast (p = 0.083), without significant differences. Conclusion Effective denoising and image reconstruction processing techniques can enable breast cancer diagnosis with substantial radiation dose reduction.

• Journal of the Korean Society of Radiology
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• v.82 no.4
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• pp.889-902
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• 2021

Purpose To assess the diagnostic performance of contrast-enhanced ultrasound (CEUS) for additional MR-detected enhancing lesions and to determine whether or not kinetic pattern results comparable to dynamic contrast-enhanced magnetic resonance imaging (DCE-MRI) of the breast can be obtained using the quantitative analysis of CEUS. Materials and Methods In this single-center prospective study, a total of 71 additional MR-detected breast lesions were included. CEUS examination was performed, and lesions were categorized according to the Breast Imaging-Reporting and Data System (BI-RADS). The sensitivity, specificity, and diagnostic accuracy of CEUS were calculated by comparing the BI-RADS category to the final pathology results. The degree of agreement between CEUS and DCE-MRI kinetic patterns was evaluated using weighted kappa. Results On CEUS, 46 lesions were assigned as BI-RADS category 4B, 4C, or 5, while 25 lesions category 3 or 4A. The diagnostic performance of CEUS for enhancing lesions on DCE-MRI was excellent, with 84.9% sensitivity, 94.4% specificity, and 97.8% positive predictive value. A total of 57/71 (80%) lesions had correlating kinetic patterns and showed good agreement (weighted kappa = 0.66) between CEUS and DCE-MRI. Benign lesions showed excellent agreement (weighted kappa = 0.84), and invasive ductal carcinoma (IDC) showed good agreement (weighted kappa = 0.69). Conclusion The diagnostic performance of CEUS for additional MR-detected breast lesions was excellent. Accurate kinetic pattern assessment, fairly comparable to DCE-MRI, can be obtained for benign and IDC lesions using CEUS.