Korea Trade Review (무역학회지)

Korea Trade Research Association (한국무역학회)
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The Impact of Entrepreneurial Orientation of Korean SME's Sequential Investment in Vietnam : Focusing on the mediating roles of international market orientation and investment performance

베트남 투자 중소기업의 기업가정신 지향성이 후속투자에 미치는 영향 : 국제시장 지향성과 투자성과의 매개효과를 중심으로

  • Hyun-Yong Park (Department of International Trade, Kyung-Hee University) ;
  • Sung-Tae Ma (Department of International Trade, Hannam University) ;
  • Jeong Hugh HAN (Asia Pacific School of Logistics, INHA University)
  • 박현용 (경희대학교 무역학과) ;
  • 마성태 (한남대학교 무역학과 ) ;
  • 한정휴 (인하대학교 아태물류학부 )
  • Received : 2020.10.05
  • Accepted : 2020.11.04
  • Published : 2020.12.31
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Abstract

This paper analyzes the influence of entrepreneurial orientation, international market orientation, and investment performance of Korean SMEs in Vietnam on sequential investment. As a result of analyzing the research model using PLS SEM, it was found that Korean SMEs make sequential investments based on investment performance rather than entrepreneurial orientation or international market orientation. In addition, entrepreneurial orientation increased internationa market orientation and had a positive effect on investment performance, which was found to have a positive effect on sequential investment. Through this study, it was clarified that there is a difference between the determinants of initial investment and sequential investment, and it was confirmed that Korean companies show stable and strategic sequential investment tendency rather than proactive and bold investment in Vietnam. In addition, the mediating effect of international market orientation and investment performance in sequential investment was confirmed. In addition, it was confirmed that entrepreneurial orientation was a valid factor in the indirect effect of sequential investment. In the future, for high entrepreneurial orientation Korean companies entered the Vietnamese market, there will be a need for policy support to provide information on Global Value Chain in Vietnam and establish networks on the country.

Keywords

Acknowledgement

This work was supported by the National Research Foundation of Korea (NRF) grant and Ministry of Education 2016(NRF-22016S1A2A3913925).

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