• Asia-Pacific Journal of Business
• /
• v.15 no.1
• /
• pp.179-192
• /
• 2024

Purpose - The purpose of this study is to examine the effect of entrepreneurial experience, business model innovation and financing on new venture performance. Design/methodology/approach - This study analyzes survey data on new ventures in Korea and investigated research hypothesis by multiple regression analysis. Findings - Founders' prior startup experience have different impacts on performance depending on whether they had a successful or failed startup. Successful experience has a positive impact on early performance, while failure experience has a negative impact. Business model innovation shows a positive and significant relationship with early performance. External financing has different effects depending on the type of funding source and performance variables. VC funding is positively related to employment creation, while government R&D funding is negatively related to sales volume. Research implications or Originality - This study confirms that the impact of entrepreneurial experience on early performance varies depending on the characteristics of successful and unsuccessful entrepreneurs. It also empirically confirms that business model innovation has a significant impact on early performance. We empirically examine the relationship between various external financing sources of venture firms and early performance. Since the effects of entrepreneurial experience, business model innovation, and external financing on early stage performance may be different, entrepreneurs should consider these relationships when pursuing early stage business opportunities.

• Knowledge Management Research
• /
• v.3 no.2
• /
• pp.49-70
• /
• 2002

The purpose of this study is to investigate the process and its influencing factors of technological capability building in a small and medium-sized capital goods sector. This paper first reviews the influencing factors of accumulating technological capability-technology trajectory, technology sources, technological capability, technological learning, technology strategy, and entrepreneurship. The paper then presents the integrative model of technological capability building. The experience of Mirae Corporation, the first generation of venture company in Korea, is also discussed as a case in point to analyse the process of technological capability building in a small and medium-sized capital goods company. Finally, the implications and limitations of the study arc discussed.

• Journal of Venture Innovation
• /
• v.7 no.1
• /
• pp.151-166
• /
• 2024

The global economic growth rate has been slowed due to changes in the economic and social environment related to the recent trends in the construction market and construction industry, prolonged inflation, intense tensions among countries, and increased interest rates. Since the workers in the construction industry, due to the nature of the industry, move to another site after the completion of an awarded project rather than staying for a long time while performing work at one workplace, various issues are brought out such as poor working environment resulting from unfairness in construction contracts, aging of workers, their anxiety, and job instability. The previous studies on the turnover intention of construction industry workers mainly dealt with external aspects such as leadership, job embeddedness, and organizational citizenship behavior, while the psychological impact was overlooked. The purpose of this study was to develop a measure to reduce or alleviate turnover intention of construction industry workers by verifying empirically the relationship among psychological capital, organizational commitment, and turnover intention among them. For the purpose, whether psychological capital influences organizational commitment and turnover intention, the impact of organizational commitment on turnover intention, and whether organizational commitment has a mediating effect in the relationship between psychological capital and turnover intention, among 310 construction industry workers in the metropolitan area. The results are as follows: First, hope and self-efficacy were found to have a negative (-) effect on turnover intention, while resilience and optimism from psychological capital did not have a significant effect. Second, hope, resilience, and optimism from psychological capital were found to have a positive (+) effect on organizational commitment, while self-efficacy from psychological capital had no significant effect. Third, organizational commitment was found to have a significant mediating effect on the relationship between hope from psychological capital and turnover intention. The results of this study showed that, in construction industry workers, psychological capital affects turnover intention through the mediating effect of organizational commitment. While previous studies mainly considered external influences on the turnover intention of construction industry workers, this study has academic implications in that it sought to strengthen organizational commitment and alleviate turnover intention by approaching psychological aspects. As a practical implication, it was found that higher self-efficacy and hope for work in the organization, from psychological capital, in the construction industry workers were found to lower turnover intention through job performance in a psychologically stable state. It is considered, therefore, that various systems, including job autonomy and flexible work, should be established to improve self-efficacy and hope.

• 한국산학경영학회:학술대회논문집
• /
• 2006.06a
• /
• pp.209-218
• /
• 2006

창업자본시장에는 다양한 유형의 자본이 서로 경쟁하고 있다. 과거에는 벤처캐피탈이 정부의 보조금과 지원으로 경쟁력이 부족한 업체도 시장에서 생존할 수 있었다. 하지만, 산업환경이 많이 바뀌었고 오늘날의 경쟁적인 환경하에서 적응하기 위해서는 벤처캐피탈 회사는 필요한 인적자원을 확보하고 경쟁우위의 원천인 지식과 테크닉을 축척해야 한다. 본 논문은 조직상황의 차이에 따라 벤처캐피탈의 인적자원의 특성의 차이가 있는지 인적자원과 조직상황의 특성의 차이에 따라 투자전략은 영향을 받는지 실증 연구하였다.

• World Technopolis Review
• /
• v.2 no.1
• /
• pp.10-20
• /
• 2013

This paper reviews key elements of a Science or Technology Park in the context of open innovation. Insights into and recommendations on key issues related to intellectual property, licensing and venture capital that would be of interest to any Science Park are presented later.

• KDI Journal of Economic Policy
• /
• v.28 no.1
• /
• pp.219-231
• /
• 2006

This paper presents a dynamic analysis of the interaction between incumbent firms and successful new entrepreneurs, that can provide R&D incentives when innovations are cumulative/sequential. It is argued that the insights of the basic model extend to varying market structures and regulatory environments.

• Electronics and Telecommunications Trends
• /
• v.16 no.5 s.71
• /
• pp.167-178
• /
• 2001

코스닥 및 나스닥 시장의 붕괴로 인한 벤처투자 시장의 급냉이 벤처기업뿐만 아니라 벤처캐피탈업계에도 커다란 악영향을 주고 있다. 벤처투자 시장의 실패와 성공의 엇갈린 결과들이 속출되고 있는 가운데, 벤처기업에 대한 국내 벤처캐피탈의 투자동향, 투자특성 및 향후 IT 투자방향을 분석해 봄으로써 IT 벤처기업 육성을 위한 벤처캐피탈들의 나아가야 할 방향 및 시사점을 제시하고자 한다.

• The Korean Journal of Financial Management
• /
• v.27 no.1
• /
• pp.63-87
• /
• 2010

This paper empirically examines whether ownership disperses when a venture firm its IPO (initial public offerings). The data for this study were collected from 91 firms that were initially listed on KOSDAQ between January 1, 2004 and December 31, 2007. We explored the influence of the underpricing of IPO on the change of large shareholders. The first finding of this investigation is that the number of shareholders of the venture firms who underpriced IPOs still increased after the closing of lockup. This is consistent with the findings of Booth and Chua(1996) and Brennan and Franks(1997). Second, the share of the large stockholders of the venture firms that a venture capital company invested decreased significantly after the end of lockup. Third, the venture businesses with higher ratio of flotation showed a significant decreasing of shareholders after the closing of lockup.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.15 no.4
• /
• pp.57-68
• /
• 2020

This study analyzed the factors affecting the reemployment intention of the baby boomer. To this end, an extended Model of Goal-directed Behaviors(MGB) was set as a research model. The extended MGB used in this study added economic readiness and social capital to attitudes, subjective norms, positive anticipated emotions, and perceived behavioral control variables as independent variables. The desires was set as a mediating and the reemployment intention was set as the dependent variable. The research model was empirically analyzed with 201 baby boomers. Empirical analysis showed that economic preparation had a negative effect on reemployment intention, and social capital had a positive effect on reemployment intention. Economic preparation rather than social capital was found to have a stronger impact on the intention of reemployment. Attitudes, subjective norms, positive anticipated emotions, and perceived behavioral control variables were not tested for a significant direct effect on reemployment intention. They were found to have a significant influence on reemployment intention through the mediating of desires. Based on the results of this empirical analysis, academic and practical implications were presented.

• Journal of Digital Convergence
• /
• v.18 no.10
• /
• pp.41-50
• /
• 2020

This study is about entrepreneurial intention of baby boomers who started retirement, starting with the second phase of life. A research model was constructed focusing on factors that will affect the entrepreneurial intention of baby boomers. In order to test the study model, a questionnaire was surveyed on baby boomers, and among them, 204 people, which was valid, was used for analysis. The hypothesis test was a structural equation model using the AMOS 23 statistical package. As a result of the hypothesis test, self-efficacy and social capital had a positive (+) relationship with entrepreneurial intention. Economic preparation was found to have a significant negative (-) relationship with entrepreneurial intention. Social capital was found to have the most influence on baby boomers' entrepreneurial intention. On the other hand, achievement experience and role model learning experience were the antecedent variables affecting self-efficacy. As a result of testing their relationship, achievement experience and role model learning experience had a significant positive (+) influence on self-efficacy. Based on the research results, academic and practical implications were presented.