The Effect of Institutional Environment on the Employees' Start-Up Intention: The Mediating Role of Risk Taking

제도적 환경이 종업원의 창업의도에 미치는 영향: 위험감수성의 매개 역할

  • Received : 2022.11.10
  • Accepted : 2022.12.19
  • Published : 2022.12.31

Abstract

The purpose of this study is to analyze the influence of the nation's institutional environment on start-up intention of employees and the mediating role of risk-taking propensity in the relationship between these variables. This study classified the institutional environment into institutional profile regulation, institutional profile norms, and institutional profile recognition. The research data were collected through questionnaires for office workers belonging to domestic companies, and 322 copies of questionnaire data were used for hypothesis verification, except for questionnaires that were omitted or unfaithful. The results of this study are as follows. First, institutional profile regulations and norms were positively related to start-up intention of office workers, while institutional profile cognition had no significant effect on the start-up intention. Second, institutional profile regulations and norms were positively related to risk taking, while institutional profile cognition had no significant effect on risk taking. Finally, risk taking was found to partially mediate the relationship between institutional profile regulation and start-up intention, and completely mediate the relationship between institutional profile norms and start-up intention. The theoretical implications of this study are as follows. First, this study makes a theoretical contribution in that it revealed that the country institutional profile regulation and norms are important prerequisites for start-up intention and risk taking. Next, unlike previous studies, this study makes a theoretical contribution by presenting a start-up intention model of office workers consisting of perception of the institutional environment and risk taking, which is the individual characteristic of entrepreneurs. The practical implications of this study are as follows. First, the government and local governments should strengthen regulations on institutional profiles so that start-ups can be activated. Second, the government and local governments should strengthen the norms for institutional profiles so that start-ups can be activated. Finally, the government, local governments, and educational institutions should devise measures to strengthen the risk taking of start-ups.

첨단기술 발전에 따라 기계들이 인간의 영역을 대량으로 침범하고 있어 직업의 불안정성이 커지고 있다. 불안정한 직업은 지속적인 수익창출과 노후 준비를 위한 종업원의 창업의도에 긍정적인 동기를 부여한다. 제도적 환경과 개인의 창업가적 성향은 창업의도에 긍정적인 영향을 준다. 그러나 종업원들을 대상으로 이 두 가지를 포함한 연구 사례는 거의 없다. 따라서 본 연구의 목적은 국가의 제도적 환경이 종업원들의 창업의도에 미치는 영향과 이 독립변수와 종속변수 간의 관계에 있어서 위험 감수성의 매개 역할을 분석하는 데 있다. 본 연구는 제도적 환경을 제도적 프로파일 규제, 제도적 프로파일 규범, 제도적 프로파일 인지로 구성하였다. 연구자료는 국내 기업에 소속된 종업원을 대상으로 설문지를 통해 수집되었으며, 설문 응답이 누락되거나 불성실한 설문지를 제외하고 322부의 설문자료를 가설검증에 사용하였다. 본 연구의 결과는 다음과 같다. 첫째, 제도적 프로파일 규제 및 규범은 종업원의 창업의도에 유의한 정(+)의 영향이 있는 것으로 검증된 반면, 제도적 프로파일 인지는 창업의도에 유의한 영향이 없는 것으로 검증되었다. 둘째, 제도적 프로파일 규제 및 규범은 위험감수성에 유의한 정(+)의 영향이 있는 것으로 검증되었으나, 제도적 프로파일 인지는 위험감수성에 유의한 영향이 없는 것으로 검증되었다. 마지막으로, 위험감수성은 제도적 프로파일 규제와 창업의도 간의 관계를 부분 매개했으며, 제도적 프로파일 규범과 창업의도 간의 관계를 완전 매개하는 것으로 검증되었다. 본 연구의 이론적 시사점은 다음과 같다. 먼저, 본 연구는 국가의 제도적 프로파일 규제 및 규범이 종업원의 창업의도와 위험감수성의 중요한 선행요인이라는 것을 밝혔다는 점에서 이론적 기여를 한다. 다음으로, 본 연구는 기존 선행연구와 다르게 최초로 제도적 환경에 대한 종업원의 인식과 창업가의 개인 특성인 위험감수성으로 구성된 종업원의 창업의도 모델을 제시함으로써 이론적 기여를 한다. 본 연구의 실무적 시사점은 다음과 같다. 첫째, 정부 및 지자체는 창업이 활성화될 수 있도록 제도적 프로파일에 대한 규제를 강화해야 한다. 둘째, 정부 및 지자체는 창업이 활성화될 수 있도록 제도적 프로파일에 대한 규범을 강화해야 한다. 마지막으로, 정부 및 지자체 그리고 교육기관은 창업에 대한 위험감수성을 강화하는 방안을 강구해야 한다.

Keywords

References

  1. Ahn, H. S., & Yang, D. W.(2019). The Influence of Entrepreneurs' Personal Characteristics on Entrepreneurial Intention with the Moderating Effect of Perception of Startup Support System. Journal of the Korean Entrepreneurship Society, 14(6), 378-410. https://doi.org/10.24878/tkes.2019.14.6.378
  2. Ajzen, I.(1991). The theory of planned behavior. Organizational Behavior and Human Decision Processes, 50(2), 179-211. https://doi.org/10.1016/0749-5978(91)90020-T
  3. Aloulou, W. J.(2020). The Influence of perceived institutional context dimensions on Saudi university students' entrepreneurial intentions. Academic Conferences International Limited, 45-53.
  4. Aloulou, W. J.(2022). The influence of institutional context on entrepreneurial intention: evidence from the Saudi young community. Journal of Enterprising Communities: People and Places in the Global Economy, 16(5), 677-698. https://doi.org/10.1108/JEC-02-2021-0019
  5. Bae, T. J., Qian, S., Miao, C., & Fiet, J. O.(2014). The Relationship between Entrepreneurship Education and Entrepreneurial Intentions: A Meta-Analytic Review. Entrepreneurship Theory & Practice, 38(2), 217-254. https://doi.org/10.1111/etap.12095
  6. Baron, R. M., & Kenny, D. A.(1986). The moderator-mediator variable distinction in social psychological research: Conceptual, strategic, and statistical considerations. Journal of Personality & Social Psychology, 51, 1173-1182. https://doi.org/10.1037/0022-3514.51.6.1173
  7. Barringer, B. R.(1995). The performance implications of achieving a fit between corporate entrepreneurship and strategic management practices (Publication Number 9705322). Doctoral Dissertation, University of Missouri Columbia.
  8. Bird, B.(1988). Implementing entrepreneurial ideas: The case for intention. Academy of management Review, 13(3), 442-453. https://doi.org/10.5465/AMR.1988.4306970
  9. Bruton, G. D., Ahlstrom, D., & Li, H. L.(2010). Institutional theory and entrepreneurship: where are we now and where do we need to move in the future?. Entrepreneurship Theory and Practice, 34(3), 421-440. https://doi.org/10.1111/j.1540-6520.2010.00390.x
  10. Busenitz, L. W., & Barney, J. B.(1994). Bias and heuristics in strategic decision making, Academy of Management, 85-89.
  11. Busenitz, L. W., & Lau, C. M.(1996). A cross-cultural cognitive model of new venture creation. Entrepreneurship Theory and Practice, 20(4), 25-40. https://doi.org/10.1177/104225879602000403
  12. Busenitz, L. W., Gomez, C., & Spencer, J. W.(2000). Country institutional profiles: Unlocking entrepreneurial phenomena. Academy of Management Journal, 43(5), 994-1003. https://doi.org/10.2307/1556423
  13. Chiles, T. H., Bluedorn, A. C., & Gupta, V. K.(2007). Beyond creative destruction and entrepreneurial discovery: A radical Austrian approach to entrepreneurship. Organization Studies, 28(4), 467-493. https://doi.org/10.1177/0170840606067996
  14. Choi. J. C.(2020). The relationship between positive psychological capital and entrepreneurial intention among middle-aged and elderly individuals: Mediation of Risk Sensitivity and Moderating Effects of Asset Status. Journal of the Korea Convergence Society, 11(4), 233-245. https://doi.org/10.15207/JKCS.2020.11.4.233
  15. Covin, J. G., & Slevin, D. P.(1990). New venture strategic posture, structure, and performance: An industry life cycle analysis. Journal of Business Venturing, 5(2), 123-135. https://doi.org/10.1016/0883-9026(90)90004-D
  16. Dehghanpour Farashah, A.(2015). The effects of demographic, cognitive and institutional factors on development of entrepreneurial intention: Toward a socio-cognitive model of entrepreneurial career. Journal of International Entrepreneurship, 13(4), 452-476. https://doi.org/10.1007/s10843-015-0144-x
  17. Dickson, P. R., & Giglierano, J. J.(1986). Missing the Boat and Sinking the Boat: A Conceptual Model of Entrepreneurial Risk. Journal of Marketing, 50(3), 58-70. https://doi.org/10.2307/1251585
  18. Dunkelberg, W. C., & Cooper, A. C.(1982). Entrepreneurial Typologies, In K. H. Vesper (Ed.), Frontiers of Entrepreneurship Research. Wellesiey, Mass: Babson Center for Entrepreneurial Studies.
  19. Dwairi, M., & Akour, I.(2014). The Moderating Role of Country Institutional Profile on the Entrepreneurial Orientation performance Relationships in the Service Industry. International Journal of Business Marketing & Decision Science, 7(1).
  20. Engle, R., Schlaegel, C., & Dimitriadi, N.(2011). Institutions and entrepreneurial intent: a cross-country study. Journal of Developmental Entrepreneurship, 16(2), 227-250. https://doi.org/10.1142/S1084946711001811
  21. Gartner, W. B.(1985). A Conceptual Framework for Describing the Phenomenon of New Venture Creation. Academy of Management Review, 10(4), 696-706. https://doi.org/10.5465/AMR.1985.4279094
  22. Gurol, Y., & Atsan, N.(2006). Entrepreneurial Characteristics amongst University Students: Some Insights for Entrepreneurship Education and Training in Turkey. Education+Training, 48(1), 25-38. https://doi.org/10.1108/00400910610645716
  23. Kang, J. H.(2016). A Study on Effect of the University Student's Self-Leadership and Entrepreneurship on Entrepreneurial Self-efficacy and Entrepreneurial Intention: Focusing on Mediating Effect of Opportunity Recognition. Doctoral Dissertation, The Graduate School of Venture, Hoseo University.
  24. Kim, J. G.(2017). An Empirical Study on Relationship between the Entrepreneurship and Entrepreneurial Intention: Focused on Mediating Effect of Participating in the Venture Contest, Moderating Effect of Entrepreneurial Supporting Policy. Doctoral Dissertation, The Graduate School of Venture, Hoseo University.
  25. Kim, K. E., & Ju, B. C.(2018). The Effects on the Motivation Factor of Young Entrepreneurs on Entrepreneurial Self-Efficacy and Entrepreneurial Intention: Focusing on the Moderating Effect of Fear of Start-up Failure. Journal of Industrial Economics and Business, 31(5), 1621-1640. https://doi.org/10.22558/jieb.2018.10.31.5.1621
  26. Kim, S. R.(2021). Perceptions toward Job Changes due to 4th Industrial Revolution. The Korea Contents Association, 21(11), 528-542.
  27. Knight, G. A.(1997). Cross-cultural reliability and validity of a scale to measure firm entrepreneurial orientation. Journal of Business Venturing, 12(3), 213-225. https://doi.org/10.1016/S0883-9026(96)00065-1
  28. KOSIS.(2022). Industry Scale Employment. KOSIS. https://kosis.kr/statHtml/statHtml.do?orgId=118&tblId=DT_118N_MON056&conn_path=I3
  29. Kostova, T.(1997). Country institutional profiles: Concept and measurement. Academy of Management Best Papers Proceedings, 180-184.
  30. Kostova, T.(1999). Transnational transfer of strategic organizational practices: A contextual perspective. Academy of management review, 24(2), 308-324. https://doi.org/10.5465/AMR.1999.1893938
  31. Krueger, N., Reilly, M., & Carsrud, A.(2000). Competing models of entrepreneurial intentions. Journal of Business Venturing, 15(2), 411-432. https://doi.org/10.1016/S0883-9026(98)00033-0
  32. Lim, J. S., & Yang, D. W.(2022). Effect of continuous learning of incumbent on Entrepreneur's intention: Focusing on the double mediation of employability and innovation behavior. Journal of the Korean Entrepreneurship Society, 17(3), 283-312.
  33. Luthje, C., & Franke, N.(2003). The 'making'of an entrepreneur: testing a model of entrepreneurial intent among engineering students at MIT. R&D Management, 33(2), 135-147. https://doi.org/10.1111/1467-9310.00288
  34. Manolova, T. S., Eunni, R. V., & Gyoshev, B. S.(2008). Institutional environments for entrepreneurship: Evidence from emerging economies in Eastern Europe. Entrepreneurship theory and practice, 32(1), 203-218. https://doi.org/10.1111/j.1540-6520.2007.00222.x
  35. Mitchell, R. K., Busenitz, L., Lant, T., McDougall, P. P., Morse, E. A., & Smith, J. B.(2002). Toward a Theory of Entrepreneurial Cognition: Rethinking the People Side of Entrepreneurship Research. Entrepreneurship Theory and Practice, 27(2), 93-104. https://doi.org/10.1111/1540-8520.00001
  36. Moon, S. S.(2017). Impacts of Entrepreneurship and Social Capital on Seniors' Entrepreneurial Intention: Focused on The Mediating Effects of Self-Efficacy. Doctoral Dissertation, The Graduate School of Venture, Hoseo University.
  37. Park, N. G., Kim, M. S., & Ko, J. W.(2015). The Effect of the Government's Entrepreneurial Support Policy on Entrepreneurship and Entrepreneurial Intention. Asia-Pacific Journal of Business Venturing and Entrepreneurship, 10(6), 89-98. https://doi.org/10.16972/apjbve.10.6.201512.89
  38. Palich, L. E., & Bagby. D. R.(1995). Using Cognitive Theory to Explain Entrepreneurial Risk-Taking: Challenging Conventional Wisdom. Journal of Business Venturing, 10(6), 425-438. https://doi.org/10.1016/0883-9026(95)00082-J
  39. Peng, M. W., & Zhou, J. Q.(2005). How network strategies and institutional transitions evolve in Asia. Asia Pacific Journal of Management, 22(4), 321-326. https://doi.org/10.1007/s10490-005-4113-0
  40. Rondinelli, D. A., & Kasarda, J. D.(1992). Foreign Trade Potential, Small Enterprise Development and Job Creation in Developing Countries. Small Business Economics, 4(4), 253-265.
  41. Sandberg, W. R., & Hofer, C. W.(1987). Improving New Venture Performance The Role of Strategy Industry Structure and the Entrepreneur. Journal of Business Venturing, 2(1), 5-28.
  42. Shane, S., Locke, E. A., & Collins, C. J.(2003). 'Entrepreneurial motivation'. Human Resource Management Review, 13(2), 257-279.
  43. Shapero, A., & Sokol, L.(1982). The social dimensions of entrepreneurship. University of Illinois at Urbana-Champaign's Academy for Entrepreneurial Leadership Historical Research Reference in Entrepreneurship.
  44. Shrout, P. E., & Bolger, N.(2002). Mediation in experimental and nonexperimental studies: new procedures and recommendations. Psychological Methods, 7(4), 422-445. https://doi.org/10.1037/1082-989X.7.4.422
  45. Sine, W. D., & David, R. J.(2010). Institutions and entrepreneurship. Emerald Group Publishing Limited, 1-26.
  46. Smith, N. R. & Miner, J. B.(1983). Type of Entrepreneur, Type of Firm, and Managerial Motivation: Implications for Organizational Life Cycle Theory. Strategic Management Journal, 4(4), 325-488.
  47. Spencer, J., & Gomez, C.(2004). The relationship among national institutional structures, economic factors, and domestic entrepreneurial activity: a multi-country study. Journal of Business Research, 57(10), 1098-1107. https://doi.org/10.1016/S0148-2963(03)00040-7
  48. Thompson, E. R.(2009). Individual Entrepreneurial Intent: Construct Clarification and Development of an Internationally Reliable Metric. Entrepreneurship Theory & Practice, 33(3), 669-694. https://doi.org/10.1111/j.1540-6520.2009.00321.x
  49. Tiessen, J. H.(1997). Individualism, collectivism, and entrepreneurship: A framework for international comparative research. Journal of Business Venturing, 12(5), 367-384. https://doi.org/10.1016/S0883-9026(97)81199-8
  50. Urbano, D., & Alvarez, C.(2014). Institutional dimensions and entrepreneurial activity: an international study. Small Business Economics, 42(4), 703-716.
  51. Valdez, M. E., & Richardson, J.(2013). Institutional determinants of macro-level entrepreneurship. Entrepreneurship: Theory and Practice, 37(5), 1149-1175. https://doi.org/10.1111/etap.12000
  52. Veciana, J. M., Aponte, M., & Urbano, D.(2005). University students' attitudes towards entrepreneurship: A Two Countries Comparison. International Entrepreneurship and Management Journal, 1(2), 165-182. https://doi.org/10.1007/s11365-005-1127-5
  53. Veciana, J. M., & Urbano, D.(2008). The institutional approach to entrepreneurship research. Introduction. International Entrepreneurship and Management Journal, 4(4), 365-379. https://doi.org/10.1007/s11365-008-0081-4
  54. Zampetakis, L. A., & Moustakis, V.(2006). Linking creativity with entrepreneurial intentions: A structural approach. The International Entrepreneurship and Management Journal, 2(3), 413-428. https://doi.org/10.1007/s11365-006-0006-z
  55. Zhang, P., Wang, D. D., & Owen, C. L.(2015). A Study of Entrepreneurial Intention of University Students. Entrepreneurship Research Journal, 5(1), 61-82.  https://doi.org/10.1515/erj-2014-0004