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A Study on the Measurement of Startup and Venture Ecosystem Index (창업·벤처 생태계 측정에 관한 연구)

  • Kim, Sunwoo;Jin, Wooseok;Kwak, Kihyun;Ko, Hyuk-Jin
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.16 no.6
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    • pp.31-42
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    • 2021
  • The importance of startups and ventures in the Korean economy is growing. This study measured whether the start-up and venture ecosystem is growing, including the growth of startups and ventures. The startup and venture ecosystem consists of startups and ventures, investors, and government, which are the main actors of the 'ecosystem', and their movements were measured with 25 quantitative indicators. Based on the original data of the time series from 2010 to 2020, the startup and venture ecosystem index was calculated by applying weights through the comprehensive stock index method and AHP. In 2020, the startup and venture ecosystem grew 2.9 times compared to 2010, and the increase in the government index had a significant impact on growth. Also, the individual indicators that make up each index in 2020, the corporate index had the greatest impact on the growth of the number of 100-billion ventures, while the investment index had a recovery amount and the government index had a significant impact. Based on the original data, the startup and venture ecosystem index was analyzed by dividing it into ecosystems (startup ecosystem and venture ecosystem), industry by industry (all industries and manufacturing industry), and region (Korea and Busan). As a result, the growth of the startup ecosystem over the past decade has been slightly larger than that of the venture ecosystem. The manufacturing was lower than that of all industries, and Busan was lower than that of the nation. This study was intended to use it for the establishment and implementation of support policies by developing, measuring, and monitoring the startup and venture ecosystem index. This index has the advantage of being able to research the interrelationships between major actors, and anyone can calculate the index using the results of official statistical surveys. In the future, it is necessary to continuously update this content to understand how economic and social events or policy support have affected the startup and venture ecosystem.

Sentiment Analysis of Movie Review Using Integrated CNN-LSTM Mode (CNN-LSTM 조합모델을 이용한 영화리뷰 감성분석)

  • Park, Ho-yeon;Kim, Kyoung-jae
    • Journal of Intelligence and Information Systems
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    • v.25 no.4
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    • pp.141-154
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    • 2019
  • Rapid growth of internet technology and social media is progressing. Data mining technology has evolved to enable unstructured document representations in a variety of applications. Sentiment analysis is an important technology that can distinguish poor or high-quality content through text data of products, and it has proliferated during text mining. Sentiment analysis mainly analyzes people's opinions in text data by assigning predefined data categories as positive and negative. This has been studied in various directions in terms of accuracy from simple rule-based to dictionary-based approaches using predefined labels. In fact, sentiment analysis is one of the most active researches in natural language processing and is widely studied in text mining. When real online reviews aren't available for others, it's not only easy to openly collect information, but it also affects your business. In marketing, real-world information from customers is gathered on websites, not surveys. Depending on whether the website's posts are positive or negative, the customer response is reflected in the sales and tries to identify the information. However, many reviews on a website are not always good, and difficult to identify. The earlier studies in this research area used the reviews data of the Amazon.com shopping mal, but the research data used in the recent studies uses the data for stock market trends, blogs, news articles, weather forecasts, IMDB, and facebook etc. However, the lack of accuracy is recognized because sentiment calculations are changed according to the subject, paragraph, sentiment lexicon direction, and sentence strength. This study aims to classify the polarity analysis of sentiment analysis into positive and negative categories and increase the prediction accuracy of the polarity analysis using the pretrained IMDB review data set. First, the text classification algorithm related to sentiment analysis adopts the popular machine learning algorithms such as NB (naive bayes), SVM (support vector machines), XGboost, RF (random forests), and Gradient Boost as comparative models. Second, deep learning has demonstrated discriminative features that can extract complex features of data. Representative algorithms are CNN (convolution neural networks), RNN (recurrent neural networks), LSTM (long-short term memory). CNN can be used similarly to BoW when processing a sentence in vector format, but does not consider sequential data attributes. RNN can handle well in order because it takes into account the time information of the data, but there is a long-term dependency on memory. To solve the problem of long-term dependence, LSTM is used. For the comparison, CNN and LSTM were chosen as simple deep learning models. In addition to classical machine learning algorithms, CNN, LSTM, and the integrated models were analyzed. Although there are many parameters for the algorithms, we examined the relationship between numerical value and precision to find the optimal combination. And, we tried to figure out how the models work well for sentiment analysis and how these models work. This study proposes integrated CNN and LSTM algorithms to extract the positive and negative features of text analysis. The reasons for mixing these two algorithms are as follows. CNN can extract features for the classification automatically by applying convolution layer and massively parallel processing. LSTM is not capable of highly parallel processing. Like faucets, the LSTM has input, output, and forget gates that can be moved and controlled at a desired time. These gates have the advantage of placing memory blocks on hidden nodes. The memory block of the LSTM may not store all the data, but it can solve the CNN's long-term dependency problem. Furthermore, when LSTM is used in CNN's pooling layer, it has an end-to-end structure, so that spatial and temporal features can be designed simultaneously. In combination with CNN-LSTM, 90.33% accuracy was measured. This is slower than CNN, but faster than LSTM. The presented model was more accurate than other models. In addition, each word embedding layer can be improved when training the kernel step by step. CNN-LSTM can improve the weakness of each model, and there is an advantage of improving the learning by layer using the end-to-end structure of LSTM. Based on these reasons, this study tries to enhance the classification accuracy of movie reviews using the integrated CNN-LSTM model.

Seasonal Dust Concentration and Characteristics of Windowless Broiler Building (무창 육계사의 계절별 먼지 농도와 특성 연구)

  • Choi H. C.;Yeon G. Y.;Song J. I.;Kang H. S.;Kwon D. J.;Yoo Y. H.;Barroga A. J.;Yang C. B.;Chun S. S.;Kim Y. K.
    • Journal of Animal Environmental Science
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    • v.11 no.3
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    • pp.197-206
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    • 2005
  • This study was carried out to investigate the concentration and characteristics of dust originating from windowless broiler building in each season. 12.0m width and 46m tenth with side wall height of 3.0m was investigated and capacity was 12,800 birds at a stock density of 23.2 birds per square meter. Dust concentrations in terms of total suspended particles (TSP), and particulate matter of sizes $10{\mu}m(PM10),\;2.5{\mu}m (PM2.5),\;and\;1{\mu}m(PM1)$ were measured at 30-minute intervals. On the basis of broiler age, the average dust concentration in summer in TSP as follows: 1,229 904.5 558.8 and $1,053{\mu}g/m^3$ on the broilers' first to fourth week of age, respectively. But during winter, the average dust concentration showed an increasing pattern, as follows: 465.4, 1,401, 4,497, 5,097 and $6,873{\mu}g/m^3$ on the broilers' first to fifth week of age, respectively. The maximum dust concentration of $11,132{\mu}g/m^3$ was observed on the fifth week. On a daily basis, the maximum dust concentration during summer was detected in early morning, and the minimum in the afternoon. The aerial dust particle size of $0.05\~0.35{\mu}m$ was the highest in number. But on volume basis, particle size of 16~99 un had the largest percentage in the broiler house. Crude protein of the dust $(42.8\~65.2\%)$, on dry matter basis, was higher than that $(20.5\~24.5\%)$ fed to the broilers. Heavy metal concentration of the dust also had high levels compared with that of the feed.

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Patent Production and Technological Performance of Korean Firms: The Role of Corporate Innovation Strategies (특허생산과 기술성과: 기업 혁신전략의 역할)

  • Lee, Jukwan;Jung, Jin Hwa
    • Journal of Technology Innovation
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    • v.22 no.1
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    • pp.149-175
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    • 2014
  • This study analyzed the effect of corporate innovation strategies on patent production and ultimately on technological change and new product development of firms in South Korea. The intent was to derive efficient strategies for enhancing technological performance of the firms. For the empirical analysis, three sources of data were combined: four waves of the Human Capital Corporate Panel Survey (HCCP) data collected by the Korea Research Institute for Vocational Education and Training (KRIVET), corporate financial data obtained from the Korea Information Service (KIS), and corporate patent data provided by the Korean Intellectual Property Office (KIPO). The patent production function was estimated by zero-inflated negative binomial (ZINB) regression. The technological performance function was estimated by two-stage regression, taking into account the endogeneity of patent production. An ordered logit model was applied for the second stage regression. Empirical results confirmed the critical role of corporate innovation strategies in patent production and in facilitating technological change and new product development of the firms. In patent production, the firms' R&D investment and human resources were key determinants. Higher R&D intensity led to more patents, yet with decreasing marginal productivity. A larger stock of registered patents also led to a larger flow of new patent production. Firms were more prolific in patent production when they had high-quality personnel, intensely investing in human resource development, and adopting market-leading or fast-follower strategy as compared to stability strategy. In technological performance, the firms' human resources played a key role in accelerating technological change and new product development. R&D intensity expedited new product development of the firm. Firms adopting market-leading or fast-follower strategy were at an advantage than those with stability strategy in technological performance. Firms prolific in patent production were also advanced in terms of technological change and new product development. However, the nexus between patent production and technological performance measures was substantially reduced when controlling for the endogeneity of patent production. These results suggest that firms need to strengthen the linkage between patent production and technological performance, and take strategies that address each firm's capacities and needs.

A Study on Problems with the ROK's Bioterrorism Response System and Ways to Improve it (생물테러 대응체제의 문제점과 개선방안 연구)

  • Jung, Yook-Sang
    • Korean Security Journal
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    • no.22
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    • pp.113-144
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    • 2010
  • Bioterrorism is becoming more attractive to terrorist groups owing to the dramatic increase in the utility and lethality of biological weapons in line with today's cutting-edge biological science and technology. The Republic of Korea is facing both internal and external terrorist threats, as well as the possible biological warfare by North Korea. Therefore, it is essential to establish an effective bioterrorism response system in the ROK. In order to come up with the adequate response system for the ROK, an in-depth study has been conducted on the current bioterrorism response system of the U.S. whose preparedness is considered relatively adamant. As a result, the following facts have been found: (1)the legislation with regard to bioterrorism has been established or amended according to the current situation in the U.S., (2)the counter terrorism activities have been integrated with the Department of the Homeland Security as the central agency in order to maximize the national CT capacity, (3)Specific procedures and instructions to cope with bioterrorism have been made into manuals so as to enhance the working-level response capabilities. Next, the analysis on the ROK's bioterrorism response system has been performed in various categories, including the legislation system, task role distribution, cooperative relations, and resource application. It turned out that the ROK's legislation basis is relatively weak and it lacks the apparatus to integrate the bioterrorism response activities on the national level. The shortage of the adequate response facilities and resources, as well as the poor management of manpower have also emerged as problems that hinder the effective CT implementations. Through an analytical and comparative study of the U.S. and the ROK systems, this paper presents several ways to ameliorate improve the current system in the ROK as follows: (1)establish the anti-terrorism law, which would be the basic legal basis for the bioterrorism-related matters; and make revisions to the disaster-related legislation, relevant to bioterrorism response activities, (2)establish an integrated body that has a powerful authority to coordinate the relevant CT agencies; and converge the decentralized functions to maximize the overall response capacity, (3)install the laboratories with a high biosafety level and secure enough of the strategic medical stock-pile, (4)enhance the ability of the inexperienced response personnel by providing with a manual that has detailed instructions.

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Effect of Venture Capitalists on the ChiNext IPO First-Day Return in China (중국 차이넥스트 시장의 벤처캐피탈이 IPO 첫날 수익률에 미치는 영향)

  • Kang, Kai;Ahialey, Joseph Kwaku;Kang, Ho-Jung
    • Management & Information Systems Review
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    • v.36 no.4
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    • pp.117-127
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    • 2017
  • In recent times the size of the world IPO in general has skyrocketed. Specifically, China's financial market development is becoming important as both the size of China's capital market and the number of companies going public are gradually increasing. This has led to a rapid development of venture vapital(VC) institutions in China for the past couple of decades. This study focuses on one of the three markets of China's Shenzhen Stock Exchange-the Growth Enterprise Board((GEB) hereafter, ChiNext). The ChiNext is established in October, 2009 to enable hi-tech or high growth potential technology companies that find it relatively difficult to fulfil the listing requirements of either the Shenzhen Main Board or Small and Medium Size Enterprise Board(SMEB) to go public. This study covers a three-year period(2012/01/-2015/01) and analyze first day initial return of 83 venture capital-backed companies and 53 non-venture capital-backed companies using T-test. Regression analysis is used as to examine the variables affecting IPO's first-day return. The empirical results are four-fold. First, the level of first day return of venture-backed is significantly lower than non venture capital backed support in the Chinese venture capital market. Second, the level of first-day return of listed companies supported by foreign venture capital is significantly higher than that of companies receiving domestic venture capital support. Third, the firms that have a large number of venture capital firms showed a low level of first-day return. Fourth, regression result for the IPO first-day return which is as dependent variable indicates that the venture capital support(VCAP), number of venture capital(VCNum), offering size(Lnsize) and PER all affect have negative effect on the first day initial return. Also, the venture capital type(VCType), turnover ratio and the the firm type(Tech-firms) statistically affect IPO first day return positively. Finally, by shedding more light on the IPO first-day return, this paper provides meaningful information to investors about the Chinese IPO market.

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Development of a 2-fluid Jet Mixer for Preventing the Sedimentation in Livestock Liquid Manure Storage Tank (가축분뇨액비저장조 침전물 퇴적 방지를 위한 2류체 제트노즐식 교반장치 개발에 관한 연구)

  • Yu, B.K.;Hong, J.T.;Kim, H.J.;Kweon, J.K.;Oh, K.Y.;Park, B.K.
    • Journal of Animal Environmental Science
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    • v.18 no.3
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    • pp.207-220
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    • 2012
  • There are around 7,500 manure tanks to treat the manures from pigs in Korea. In the tank, there are too much sediments deposited on the base and wall, which causes low efficiency of stock capacity and manure fermentation. In order to minimize sediments and to ferment manure effectively, we developed a 2-fluid jet mixer for mixing sediments in liquid livestock manure tank. For developing the prototype, we tested a factorial experimental system with various nozzles, and simulated CFD models with two kinds of nozzle arrangement. From the results of factorial experiment and CFD simulation, we concluded the dia. ratio of primary : secondary nozzle should be 1:2 and the nozzles should be arranged at the same distances toward to the circumferential direction. With this results, we manufactured a 2-fluid jet mixer which is consists of four 2-phase nozzles, centrifugal slurry pump and root's type air blower. And, we carried out the performance test of the prototype in the round shaped liquid manure tank in the farm. The performance test results showed that the uniformity of TS (Total Solid) and VS (Volatile Solid) was raised from 21.3 g/L, 13.3 g/L In steady state to TS and VS to 23.0 g/L, 14.1 g/L in the mixing operation. Therefore, we could conclude that the prototype of 2-fluid mixer could make the solid material which could be sediments in the tank not to be deposited in the tank and to be contacted to air bubbles which could enhance the efficiency of the fermentation of livestock manure.

Environment-friendly and Low-Carbon Agriculture for Demand-Supply Control and Food Security of Korean Rice (쌀 수급안정과 식량안보를 위한 친환경·저탄소 농업 전환방안)

  • Yang, Seung-Koo;Park, Pyung-Sik;Son, Jang-Hwan;An, Kyu-Nam
    • Korean Journal of Organic Agriculture
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    • v.26 no.1
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    • pp.99-128
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    • 2018
  • The cultivation area of rice as staple grains is decreasing in the domestic situation in Korea. Import volume of a duty in foreign rice is 409,000 tons for a year regardless increasing of production per unit area and decreasing of rice consumption. The total stock of rice is increasing cumulatively despite the effort for production mediation of rice. Therefore, maintenance of cultivation area and reduction of production are necessary for national foodstuffs security problems. Development of environment-friendly and low-carbon technology as alternative of global warming and aging of farm labor power is very important responsibility for descendants with creation of sustainable agriculture environment. As alternative for demand and supply stabilization of rice from all angles, first stage: extension of environment-friendly cultivation area as 17% Jeollanam-do level with maintenance of cultivation area under the present circumstances, second stage: extension of environment-friendly cultivation area as 25%, third stage: extension of environment-friendly cultivation area as 35%. From above mentioned scenario, reduction of rice production (60,000 tons), increases of production cost (59,200,000,000 Won), and reduction of income (201,500,000,000 Won) are estimated in first stage. Reduction of rice production (90,000 tons), increases of production cost (122,100,000,000 Won), and reduction of income (313,700,000,000 Won) are estimated in second stage. Reduction of rice production (380,000 tons), increases of production cost (222,000,000,000 Won), and reduction of income (464,500,000,000 Won) are estimated in third stage. From analysis results for partial tillage in transplanting cultivation complex (10ha), rice production is decreased 1.3~1.5 ton by complex. Production cost of rice is decreased and increases of income cultivation type. Gradual extension of environment-friendly agriculture and low-carbon partial tillage could be expected for environment maintenance of the territorial integrity, confidence of consumer, and high-efficiency of low-cost.

Channel Innovation through Online Transaction processing System in Floral Wholesale Distribution: FLOMARKET Case (화훼도매 온라인 거래처리 시스템을 통한 유통경로 개선방안 연구: (주)플로마켓 사례)

  • Lee, Seungchang;Ahn, Sunghyuck
    • Journal of Distribution Science
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    • v.8 no.1
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    • pp.21-33
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    • 2010
  • The ICT(information & communication technology) led to a dramatic change of floral distribution service, a phase of competition between wholesales and retail stores, and distribution channels in floral industry. It was expected that a role of the intermediaries in this industry would have reduced due to the improvement of transaction process by ICT. However, the ICT made to overcome a regional limit of the floral retail distribution service leading to an increase in sales and enlargement of the stores. And even it made possible to bring out another type of intermediaries such as private associations. This case study focuses on what kinds of efforts the floral wholesale distributors have made to enable a distribution process more smoothly between the wholesale distributors and retail stores through the information system, and what the failure factors in adopting the information system have been. This paper is also to examine how the wholesale distributors have changed themselves to gain dominant positions in distribution channels. As a result of the study, it was found that the intermediaries mostly failed in successfully achieving the distribution channel innovation through the information system because of several main reasons. FLOMARKET Inc. tried to innovate a distribution channel to obtain high quality goods through consolidating a wholesale distribution market in that segregated both floral joint market from free markets. after implementing the information system with consideration of the failure factors, FLOMARKET Inc. was able to minimize goods in stock and make a major purchase of various goods. In addition, it made a possible pre-ordering process and an exact calculation of purchasing goods so they could provide their products with market price in real time, which helped for the company to gain credits from their customers. Also, FLOMARKET Inc. established the information system which well suited to its business stage in order to deal with a rapidly changing distribution environment. It's so obvious that the transaction processing system of FLOMARKET Inc. definitely helped to share information among traders more seamlessly and smoothly in realtime, standardize goods, and make a transaction process clearer. Besides, the transaction information helped the wholesale distributors and retail stores to make more strategic decisions in their business because through the system they enabled to gather the marketing intelligence information more easily and convenient. If we understand that the floral distribution market is characterized by the low IT- based industry, it's worth to examine a case study proving that the information system actually increases the productivity of the transaction process in the floral industry.

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The Impact of Innovative Efficiency on Performance of Firms (혁신효율성이 기업의 수익성에 미치는 영향)

  • Han, Ji-yeon;Ha, Seok-tae;Cho, Seong-pyo
    • Journal of Technology Innovation
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    • v.28 no.3
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    • pp.1-28
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    • 2020
  • This study examines whether the firm with high innovation efficiency realizes high operating performance. We measured innovation efficiency by the ratio of patent applications for R&D expenditure or R&D stock and measured operating performance by the ratio of operating income or operating cash flow to total assets for the following year. The sample consists of 1,880 manufacturing firm-years, which listed on the Korean Exchange between 2014 and 2017. We analyze the effect of innovation efficiency on operating performance using a model of Hirshleifer et al. (2013) results show that both innovation efficiency variables have a significantly positive relationship with the total asset operating margin. Besides, the following year's performance, measured by the total asset operating cash flow ratio, also shows a positive relationship with the two innovation efficiency variables at the 5% and 1% significance levels, respectively. The results indicate that high innovation efficiency firms that link the outcomes of R&D to more patent applications realize higher operating performance. Also, we divided the R&D-intensive and non-R&D-intensive industries and performed the same analysis. As a result, the innovation efficiency has a significant positive effect on operating margin in both industries. However, the effect of innovation efficiency on the operating cash flow is only significant in R&D-intensive industries. This study suggests that the effects of innovation efficiency are more consistent in the R&D-intensive industry. Additionally, we divided the high patent application and low patent applications industries and performed the same analysis. As a result, the innovation efficiency has a significant positive effect on operating margin in both industries. This study suggests that the effects of innovation efficiency are more consistent in the high patent application industry. We show that a firm's innovation efficiency is a critical factor for a firm's performance, while prior studies on the R&D performance have not considered the innovation efficiency of each firm. The evidence suggests that firms not only consider R&D expenditures but also improve the performance of companies by increasing innovation efficiency. Investors need to consider their innovation efficiency when evaluating the value of firms.