Browse > Article

A Study on the Influence of Nascent Entrepreneurs Motivation and Preparation on the Business Continuity: Based on the Mediation Effect of Start-up Satisfaction  

Han, Hyang Won (venture business administration at Hoseo University)
Ha, Kyu Soo (venture business administration at Hoseo University)
Publication Information
Asia-Pacific Journal of Business Venturing and Entrepreneurship / v.15, no.5, 2020 , pp. 77-98 More about this Journal
Abstract
Recently, the government provided about 35 trillion won to start-ups through a large amount of start-up support funds from the Korea Credit Guarantee Fund and the Korea Development Bank, and more than 100 trillion won to start-ups over the past three years.(2015-2018) The Ministry of SMEs and Startups announced that a total of 1.4517 trillion won will be supported by 16 ministries (90 projects) after surveying start-up support projects by ministries in 2020 to create a start-up country. Indeed, among the budgets supported by the Ministry of SMEs and Startups, startups accounted for 85%, while scale-ups (growth and maturity) were only 15%. However, the survival rate of Korean start-ups was far lower than that of developed countries. The survival rate for the three years after the start-up was 39.1 percent, with only about 4 out of 10 surviving, with 27.5 percent surviving for five years, and only 3 out of 10 surviving. On the other hand, overseas start-ups have a survival rate of twice as high as that of Korea for five years. Accordingly, this study aims to empirically analyze and examine the need for research on nascent entrepreneurs, which have recently been actively supported by the government, as well as the impact of start-up motivation and start-up preparation on the intention to continue business. The survey was conducted from April 1 to May 15, 2020 for nascent entrepreneurs nationwide, and 222 of the total 245 copies were analyzed, and the questionnaire was measured using the Likert 5-point scale. As a result of the analysis, first, all factors constituting start-up motivation were adopted by significantly affecting start-up satisfaction. In addition, among the sub-factors of nascent entrepreneurs' preparation, item preparation was adopted as a significant influence on start-up satisfaction. Second, the nascent entrepreneurs' satisfaction level was adopted by having a significant impact on the business continuity. Third, some of the motivations for self-realization of the motivation for start-ups were adopted by having a significant impact on the business continuity. In addition, the preparation of items for the start-up preparation of nascent entrepreneurs was partially adopted as they had a significant impact on the business continuity. Fourth, it was adopted by the mediation effect of start-up satisfaction between the motivation of the nascent entrepreneurs' preparation and the business continuity. In addition, it was adopted by the medium effect of start-up satisfaction between the nascent entrepreneurs' preparation and the business continuity. Based on the results of these studies, it is intended to draw practical implications, and to provide useful policy implications to increase nascent entrepreneurs' satisfaction and continue to carry out their start-ups.
Keywords
Nascent Entrepreneurs; Startup Motivation; Start-up preparation; Business continuity intention; Start-up Satisfaction;
Citations & Related Records
Times Cited By KSCI : 8  (Citation Analysis)
연도 인용수 순위
1 Ajzen, I.(1991). The Theory of Planned Behaviour: Organizational Behaviour and Human Decision Processes. Cited in Hansen, 50, 179-211.   DOI
2 Lee, S. H., & Ha, K. S.(2015). A Study on the Influence of Entrepreneurship and Start-Up Competency on Entrepreneurial Satisfaction: Focusing on the Moderating Effect of Flow Experience. The Korean Society of Business Venturing, 10(5), 137-150.
3 Lee, J. S., Lim, Y. H., & Kim, T. H.(2017). The Effect of Food Service Entrepreneur's Characteristics on Management Performance and Satisfaction in Food Service Business. Journal of Food service Management, 20, 1-27.
4 Lee, J. S.(2016). The Effect of Management Performance, Entrepreneurial Satisfaction, and Entrepreneurial Persistence Intention by Food Service Entrepreneur's Characteristics. Graduate School of Tourismm, Kyung Hee University.
5 Ajzen, I.(2005). Attitudes, personality, and behavior. McGraw-Hill Education(UK).
6 Aldrich, H., & Martinez, M.(2001). Many are called, but few are chosen: An evolutionary perspective for the study of entrepreneurship (Discussion Paper). Chapel Hill, NC: University of North Carolina.
7 An, S. Y., & Cho, S. M.(2018). What Makes Youth Entrepreneurs Survive?: Focusing on the Mediating Roles of Job Satisfaction and Person, Job Fit. The Korea Entrepreneurship Society, 13(4), 85-115   DOI
8 Baron, & Kenny(1986). The moderator-mediator variable distinction in social psychological research: Conceptual, strategic, and statistical considerations. Journal of Personality and Social Psychology, 51, 1173-1182.   DOI
9 Begley, T. M., & Boyd, D. P.(1987). Psychological characteristics associated with performance in entrepreneurial firms and smaller businesses. Journal of business venturing, 2(1), 79-93.   DOI
10 Bird, B.(1988). Implementing entrepreneurial ideas: The case for intention. Academy of Management Review, 13(3), 442-453.   DOI
11 Byun, C. G., & Sung, C. S.(2014). A Study on IPA Analysis of Start-ups by Government Policy: The focus of Youth Start-ups. Journal of the Korea Industrial Information Systems Research, 23(6), 95-112.   DOI
12 Lee, H. W.(2020). One in five adult men and women 68% of those who have "started a business" experience quit business within two years. News in Job, Retrieved from http://www.thejobnews.kr/news/articleView.html?idxno=2953.
13 Lin, N.(2002). Social Capital: A Theory of Social Structure and Action (Structural Analysis in the Social Sciences, 19). Cambridge University Press.
14 Lee, H. Y., & Kim, J. S.(2017). The Impacts of Entrepreneurs and Entrepreneurial Teams Competency on the Performance of New Technology-based Startups. The Korea Entrepreneurship Society, 12(2), 31-56.   DOI
15 Lee, G. M.(2018). Influence of Entrepreneur Characteristics and Startup Preparedness on Business Continuity Focusing on the Mediating Effect of Entrepreneurial Will. Doctoral Dissertation, The Graduate Schoo Pusan National University.
16 Rogers, C. R.(1951). Studies in client-centered psychotherapy III: the case of Mrs. Oak-a research analysis. Psychological Service Center Journal.
17 Reynolds, P. D., & White, S. B.(1997). The entrepreneurial process: Economic growth, men, women, and minorities. Praeger Pub Text.
18 Rogge, K. S., Schneider, M., & Hoffmann, V. H.(2011). The innovation impact of the EU Emission Trading System-Findings of company case studies in the German power sector. Ecological Economics, 70(3), 513-523.   DOI
19 Maslow, A. H.(1943). Preface to motivation theory. Psychosomatic medicine.
20 Carter. D. A., Simkins, B. J., & Simpson, W. G.(2003). Corporate governance, board diversity, and firm value. Financial Review, 38, 33-52.   DOI
21 Maslow, A. H.(1946). Problem-centering vs. Means-centering in Science. Philosophy of Science, 13(4), 326-31.   DOI
22 McClelland, D. C.(1961). Achieving society(No. 15).
23 Rogers, E. M.(2010). Diffusion of innovations. Simon and Schuster.
24 Murray, H. A.(1938). Explorations in personality: A clinical and experimental study of fifty men of college age.
25 Mazzarol, T., & Thiery, V. D.(1999). Noelle and Thein Vicki, Factors Influencing Small Business Start-Up. International Journal of Entrepreneurial Behavior & Research, 5, 48-64.   DOI
26 Maignan, I., & Ferrell, O. C.(2001). Corporate citizenship as a marketing instrument‐Concepts, evidence and research directions. European journal of marketing.
27 Ministry of SMEs and Startups(2020). 2020 Small and Medium Venture Business Startup Support Project.
28 Nam, J. I.(2013). A study on Effect of Entrepreneurial Mentoring for Relationship between Entrepreneurial Behaviour and Intention, master's degree. The Graduate School of Chung-Ang University, 5-30
29 Nam, J. M., Chun, B. J., & Park, J. W.(2013). Success Factors of Start-ups: An Empirical Study. Korean Society for Human Resource Management, 20(5), 27-44.
30 Oh, J. W., Lee, D. H., & Kang, J. K.(2015). An Empirical Study on Influence of Venture Preparation on Business Performance of initial Venture Foundation: Focused on The Effect of Controlling The Period of Venture Preparation. Asia-Pacific Journal of Business Ventruing and Entrepreneurship, 10(4), 67-80.   DOI
31 Carsrud, A., & Brannback, M.(2011). Entrepreneurship Motivations: What Do We still Need to Know?. Journal of Small Business Management, 49(1), 9-26.   DOI
32 Coleman, J. S.(1988). Social Capital in the Creation of Human Capital. American Journal of Sociology, 94(Supplement), S95-S120.   DOI
33 Chowdhury, S.(2005). Demographic diversity for building an effective entrepreneurial team: is it important?. Journal of Business Venturing, 20(6), 727-746.   DOI
34 Cooper. A. C., & Dunkelberg. W. C.(1984). Entrepreneurship and paths to business ownership. Krannert Graduate School of Management. Purdue University.
35 Cho, J. M., & Kong, B. H.(2012). The Study on Entrepreneurial Motivations and Maintenance Factors of Independent Publication. Journal of the Korea Academia-Industrial cooperation Society, 13(4), 1541-1550.   DOI
36 Choi, K. S.(2020). Outwardly, support for start-ups, 72% closed in the 5s. Short-lived start-up company. Financial News, Retrieved from https://www.fnnews.com/news/201808121727056092.
37 Gilad, B., & Levine, P.(1986). A Behavior Model of Entrepreneurial Supply. Journal of Small Business Management, 4, 45-53.
38 Goo, M. M.(2012). A Study on the sustainable growth of creative micro businesses in creative industry. Korea Humanities Contents Society, (27), 155-170.
39 Hisrich, R. D., & Peters, M. P.(1986). Establishing a new business venture unit within a firm. Journal of business venturing, 1(3), 307-322.   DOI
40 Ha, K. S.(2009). A Study on the Cost of Entrepreneur's Business Failure and Entrepreneurial Intention. Doctoral Dissertation, Graduate School of Hanyang University.
41 Public Procurement Service(2014). Expanding the scope of recognition for the initial start-up company from 2 years to 5 years. Small and Medium Business News, Retrieved (2014.10.29.) from http://news.kbiz.or.kr/news/articleView.html?idxno=36686.
42 Park, J. G., & Lee, S. Y.(2017). Determinants of Organizational Pride in Start-up Teams from Team Effectiveness, Work and Life Balance and. Journal of Vocational Rehabilitation, 39(2), 163-188.
43 Park, H. G., & Yang, D. W.(2018). An Empirical Study on the Effect of Technology Commercialization Capability of Early Start-ups on Business Performance: Focusing on the Moderating Effect of Manufacture Founders' Technological Capability. Journal of The Korea Entrepreneurship, 13(5), 1-29
44 Park, J. W.(2020). The Relationships between Founders' Entrepreneurial Leadership, Team Learning Behavior, Team Boundary Spanning, and Performance in the Early-Stage Startups.Doctoral Dissertation The Graduate School of Seoul National University Korea.
45 Shane, S. A., Kolvereid, L., & Westhead, P.(1991). Do international and domestic entrepreneurs differ at start-up?. Wharton School of the University of Pennsylvania, Snider Entrepreneurial Center.
46 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.   DOI
47 Shan, L. & Heo, C. M.(2019). Effects of Entrepreneurship Motivation on Entrepreneurial Opportunity Competence in Preliminary Young Entrepreneurs:Focusing on Mediating Effects Of Entrepreneurial Efficacy and Entrepreneurial Orientation. Journal of Business Venturing and Entrepreneurship, 14(1), 117-137.   DOI
48 Schumpeter, J. A.(1934). The Theory of Economic Development(translation of second German edition by Redvers Opie). Cambridge, Ma, Harvard University,
49 Shepherd, D. A., Douglas, E. J., & Shanley, M.(2000). New venture survival: Ignorance, external shocks, and risk reduction strategies. Journal of Business Venturing, 15(5-6), 393-410.   DOI
50 Sandberg W. R., & Hoffer C. W.(1987). Improving New Venture Performance: The Role of Strategy, and The Entrepreneur. Journal of Business Venturing, 2(1), 5-28.   DOI
51 Song, C. S., & Noh, Y. H.(2011). Characteristics of Korean Venture Firms and Their Survival Analysis:A Micro-Lever Approach. The Journal of Small Business Innovation, 14(3), 1-24.
52 Statistics Korea(2018). 2015 Corporate Life Administration Statistics Report. http://kostat.go.kr/portal/korea/kor_nw/1/9/6/index.board?bmode=read&bSeq=&aSeq=358301&pageNo=1&rowNum=10&navCount=10&currPg=&searchInfo=&sTarget=title&sTxt=
53 Vyakarnam, S., Jacobs, R., & Handelberg, J.(1999). Exploring the formation of entrepreneurial teams: the key to rapid growth business?. Journal of small business and enterprise development, 6(2), 153-165.   DOI
54 이대희.진창현(2016). 한국기업의 경영혁신역량과 기업가 정신이 기업의 경영성과에 미치는 영향. 기업경영연구, 23(3), 127-149.
55 Schein, E. H.(1978). Career dynamics; Matching individual and organizational needs, Reading, Mass. Addison-Wesley.
56 Kim, K. A.(2013). A Study on Relations among Small Business Persons' Psychological Characteristics, Entrepreneurship,Entrepreneurial Satisfaction, and Entrepreneurial Recommendation Intention: Focusing on Entrepreneurs of Dessert Cafes. Doctoral Dissertation, Kyungsung University.
57 Ha, K. S., & Seo, S. H.(2011). Analysis of Recognition on Business Risks and Entrepreneurial Intention. Journal of Korea technology innovation society, 13(S), 1285-1311.
58 Jeong, S. H., & Kim, H. R.(2001). An Exploratory Study on Success Factors in Small Business Startups. The Journal of Small Business Innovation, 4(2), 3-29.
59 Korea Venture Capital Association(2014). Companies with annual sales of less than 1 billion should be considered as early companies. Chosunbiz, Retrieved 2014.09.23. from http://biz.chosun.com/site/data/html_dir/2014/09/23/2014092302346.html.
60 Kantis, Hugo, Ishida Masahiko and Komori Masahiko(2002). Entrepreneurship in Emerging Economics: The Creation and Development of New Firms in Latin America and East Asia. Inter-American Development Bank.
61 Kang, S. B.(2012). Report on corporation performance influenced by entrepreneur's motive, entrepreneurship, and advanced preparation: Small business entrepreneurs. Master's Thesis, The Graduate School of Industrial & Entrepreneurial Management Chung-Ang University.
62 Kang, H. H.(2019). The entrepreneur's motivation for entrepreneurship, entrepreneurship, and the impact of entrepreneurship competency on entrepreneurship substantiality: by mediating start-up company management performance. Master's Thesis, Yonsei University.
63 Kim, Y. B.(2019). An analysis of the influence of business start-up related personal characteristics variables and psychological factors on the satisfaction of business start-up. Journal of the Korea Academia-Industrial, 20(2), 180-189.
64 Yun, J. R., Kim, H. C., & Kim, O. S.(2009). An Empirical Research on Entrepreneurial Traits of the China Venture Business. DAEHAN Association of Business Administration. 4, 463-496.
65 Ha, K. S., & Han, J. W.(2010). A Study on the Failure-Stress of Entrepreneurs and Entrepreneurial Intention. Korean Small Business Association, 32(1), 21-41.
66 Kim, S. H., & Nam, J. M.(2016). Republic of Korea Entrepreneurship Ecosystem Status and Recognition Research: Focusing on Entrepreneurs, Entrepreneurs Preliminary, Student Centered Comparative Analysis on the Status and Recognition. Asia-Pacific Journal of Business Venturing and Entrepreneurship, 11(6), 175-183.   DOI
67 Kim, T. H., & Joo, S. H.(2015).The Study of Characteristic for Small Independent Stores Affected Business Sustainment Intention. Korea Academic Society of Franchisin, 1(1), 96-115.
68 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. Korean Industrial Economic Association, 31(5), 1621-1640.
69 Kim, N. P., & Kwon, Y. J.(2018). An Examination of Small Business Owners' Start-up Readiness, Social Support, Government Start-up Consulting, and Entrepreneurship Performance. Journal of the Korea Entrepreneurship, 13(3), 1-25.
70 Kang, H. H., Park, W. J., & Bae, B. Y.(2019). Impact of Entrepreneurial Business Start-up Motivation, Entrepreneurial Spirit, and Entrepreneurial Competence Characteristics on Start-up Companies' Sustainability: Focusing on the Mediating Effect of the Start-up Companies' Business Performance. Journal of Business Venturing and Entrepreneurship, 14(3), 59-71.
71 Lee, S. H., & An, E. J.(2018). The Effect of the Entrepreneurial Motivation in Women Entrepreneurs on Entrepreneurial Satisfaction Mediated by Entrepreneurial Orientation and Commitment to Start-up. Korea Society of industrial Information Systems, 23(6), 95-112.
72 Lee, J. H.(2008). A Study on Entrepreneurial Motivations and Entrepreneurial Decision Makings. The Korean Small Business Review, 30(1), 41-64.
73 Lee, W. S.(2016). The Analysis on Factors Affecting Occupational Satisfaction of College Graduation Youth Entrepreneur. Doctoral Dissertation, The Graduate School, Pukyong National University.
74 Lee, B. G.(2014). The effect of entrepreneurial motivation on the entrepreneurial performance: Focusing on mediating role of entrepreneurship. Doctoral Dissertation, The Graduate School of Venture, Hoseo University.
75 Lee, W. S., & Ju, D. B.(2016). The Analysis of Factors Affecting Occupational Satisfaction of College Graduation Youth Entrepreneur. The Journal of Yeolin Education, 24(4), 139-161.
76 Lee, H. H.(2020). A Study on the Structural Relationships among Small Scale Food service: The Mediating Effect of Management Performance. Department of Food Science and Technology. Doctoral Dissertation, The Graduate School, Catholic University of Daegu.
77 Lee, I. W., Chung, Y. H., & Choi J. H.(2015). Study on Continuity of Technological Innovation Support Service for Small and Medium Enterprise. Korea Association of Business Education, 30(3), 111-132.