Asia-Pacific Journal of Business Venturing and Entrepreneurship (벤처창업연구)

The Korean Society of Business Venturing (한국벤처창업학회)
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Success and Failure of Entrepreneurial Experience and New Venture Performance: Moderating Effect of Firm Age

창업경험 특성이 벤처창업기업 성과에 미치는 영향: 업력의 조절효과

  • Received : 2019.06.07
  • Accepted : 2019.08.26
  • Published : 2019.08.31
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Abstract

This paper investigates the effects of prior entrepreneurial experience on new venture performance. Entrepreneurial experience has significant impacts on the early development processes of new ventures founded by experienced entrepreneurs. There are inconclusive results on the relationships between entrepreneurial experience and new venture performance. Based on the data of Korean new ventures, this paper empirically analyze these relationships of different entrepreneurial experience on new venture performance. Success experience has positive effects on employment but no effect on financial performance. Failure experience has negative relationships with financial performance as well as employment. There are moderating effect of firm age on the relationship of only failure experience with performance. Finally this paper suggests theoretical and practical implications of entrepreneurial experience on new ventures' development and performances.

본 연구에서는 창업가의 창업경험 특성이 벤처창업기업의 성과에 미치는 영향을 분석하였다. 창업가의 이전 창업경험은 벤처창업기업의 중요한 인적자본으로서 후속 창업시 벤처창업기업의 운영과 성과에 중요한 영향을 미치는 것으로 여겨져 왔다. 창업가의 이전 창업경험이 벤처창업기업의 성과에 미치는 영향에 대한 기존 실증적 연구결과들은 일관된 결과들을 보여주지 못하고 있다. 본 연구에서는 국내 벤처창업기업들을 대상으로 창업가의 창업경험 특성을 성공창업경험과 실패창업경험으로 구분하고 벤처창업기업의 성과에 미치는 영향과 업력의 조절효과에 대해 실증적으로 살펴보았다. 창업경험특성에 따라 성과에 미치는 영향을 다르게 나타나고 있다. 성공창업경험은 고용에는 정의 유의한 영향을 미치나 재무적 성과에는 유의한 영향을 미치지 않았다. 실패창업경험은 고용과 재무적 성과 모두에서 부의 유의한 영향을 미치는 것으로 나타났다. 업력에 따른 조절효과는 실패창업경험에서는 정의 조절효과가 나타나고 있으나 성공창업경험에서는 유의한 조절효과가 나타나지 않았다. 창업경험의 특성(성공 또는 실패)에 따라 이후 벤처창업기업의 성과에 상이한 영향을 미치는 것으로 나타났다. 또한 벤처창업기업의 업력이 늘어나면서 이전 창업경험의 효과는 더욱 강화되는 것으로 나타나고 있어 창업경험과 성과간의 단기적인 영향관계와 장기적인 영향관계가 다르게 나타나고 있음을 보여준다. 실무적 시사점으로는 창업가의 창업경험의 효과가 경험특성에 따라 다르게 나타날 수 있음을 이해할 필요가 있으며 창업경험이 있는 창업가들에 대한 정책적 지원에 있어서도 창업경험의 특성과 효과를 높일 수 있는 지원방안에 대한 고려가 필요함을 시사하고 있다.

Keywords

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