Browse > Article
http://dx.doi.org/10.7469/JKSQM.2022.50.3.305

Effect of Entrepreneurial Ecosystem Quality on Entrepreneurship Performance  

Lee, Eun-Ji (Global Leaders College, Yonsei University)
Cho, Young-Ju (Korea Small Business Institute, SME Policy Lab)
Publication Information
Journal of Korean Society for Quality Management / v.50, no.3, 2022 , pp. 305-332 More about this Journal
Abstract
Purpose: As the public interest in entrepreneurship has been highlighted and entrepreneurship policies have been generated, this study is to construct Entrepreneurship Ecosystem (EE) models which have a significant relationship to national entrepreneurship with quantitative analysis. It aims to provide implications to EE policymakers that which national components are effective in cultivating innovative entrepreneurship and validate its EE quality based on quantitative performance goals. Methods: This study utilizes secondary data, categorized under the PESTLE factor from credible international organizations (WB, UNDP, GEM, GEDI, and OECD) to determine significant factors in the quality of the entrepreneurial ecosystem. This paper uses the Multiple Linear Regression (MLR) analysis to select the significant variables contributing to entrepreneurship performance. Using the AUC-ROC performance evaluation method for machine learning MLR results, this paper evaluates the performance of EE models so that it can allow approving EE quality by predicting potential performance. Results: Among nine hypothesis models, MLR analysis examines that the number of the Unicorn company, Unicorn companies' economic value, and entrepreneurship measured as GEI can be reasonable dependent variables to indicate the performance derived from EE quality. Rather than government policies and regulations, the social, finance, technology, and economic variables are significant factors of EE quality determining its performance. By having high Area Under Curve values under AUC-ROC analysis, accepted MLR models are regarded as having high prediction accuracy. Conclusion: Superior EE contributes to the outstanding Unicorn companies, and improvement in macro-environmental components can enhance EE quality.
Keywords
Entrepreneurship Quality; Entrepreneurship Ecosystem; Entrepreneurship;
Citations & Related Records
Times Cited By KSCI : 4  (Citation Analysis)
연도 인용수 순위
1 Davari, A., & Najmabadi, A. D. 2018. Entrepreneurial ecosystem and performance in Iran. In Entrepreneurship Ecosystem in the Middle East and North Africa (MENA) (pp. 265-282). Springer, Cham.
2 Digital Science. 2018. Dimensions. [Software] available from https://app.dimensions.ai. Accessed on (DATE), under licence agreement.
3 Driessen, Martyn P. and Peter S. Zwart. 2002. The role of the entrepreneur in small business success: the Entrepreneurship Scan.
4 Drucker, P.F. 1985. Innovation and Entrepreneurship; practice and principles. New York: Harper Row. Innovation.
5 Gartner, William B. 1985. A conceptual framework for describing the phenomenon of new venture creation. Academy of Management Review 10(4):696-706.   DOI
6 Stam, E. 2018. Measuring entrepreneurial ecosystems. In Entrepreneurial ecosystems. Springer, Cham: 173-197
7 Holt, Daniel T. 2015. Corporate Entrepreneurship Assessment Instrument. Wiley Encyclopedia of Management: 1-2.
8 Mehmood, T., Alzoubi, H. M. Muhammad. A., Anwar. A., and Ahmed, G., 2019. Schumpeterian entrepreneurship theory: evolution and relevance. Academy of Entrepreneurship Journal 25(4).
9 Mason, C. & Brown, R. 2014. Entrepreneurial ecosystems and growth oriented entrepreneurship. Final report to OECD, Paris 30(1):77-102.
10 Ministry of Small Medium Enterprises and Start-ups [jungsobencheogieobbu]. 2021. 'Small and medium-sized enterprises', the backbone of our economy, 99% of all companies and 83% of workers [uli gyeongje beotimmog 'jungsogieob', jeonche gieob-ui 99%.geunloja 83%]. Korea Policy Briefing [daehanmingug jeongchaegbeuliping]. Retrieved May 22, 2022. from https://www.korea.kr/news/pressReleaseView.do?newsId=156477559.
11 Ministry of Small Medium Enterprises and Start-ups [jungsobencheogieobbu]. 2022. Innovative ventures and start-ups hired 66,000 people last year [Hyeogsin bencheo.chang-eobgieob, jagnyeon 6man 6cheon-yeomyeong goyong neullyeo]. Retrieved May 22, 2022. from https://www.mss.go.kr/site/smba/ex/bbs/View.do?cbIdx=86&bcIdx=1032080&parentSeq=1032080.
12 Moon. H. Y. & Cheng. S. J. 2015. General Quality Research : A Study on the Effect of Innovation Performance Through Business Innovation Activities and Techniques for the Small & Medium Size Company. Journal of Korean Society for Quality Management 43(2):151-168. Vogel, P. 2013. The employment outlook for youth: building entrepreneurship ecosystems as a way forward. In Conference Proceedings of the G20 Youth Forum. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2357856.
13 Ha, J. Y., Lee. S. H., Na, M. H., Kim, D. H., Lim, L. H., and Lee, Y. G. 2021. The Analysis of the Management Efficiency and Impact Factors of Smart Greenhouse Business Entities -- Focusing on the Business Entities of Strawberry Cultivation in Jeolla-do --. Journal of Korean Society for Quality Management 49(2):213-231.   DOI
14 Jung, K. H., Lee, J. Y., and Yun, J. W. 2021. A Study of COVID-19 Pandemic and Disaster Relief Fund-The Case of Emergency Disaster Relief Fund in Korea. Korean Crisis Management Journal[hangug-wigigwanlinonjib] 17(3):1-23.
15 Kelley, D. J., Singer, S., & Herrington, M. 2012. The global entrepreneurship monitor. 2011 Global Report, GEM 2011, 7:2-38.
16 Liguori, E., Bendickson, J., Solomon, S., & McDowell, W. C. 2019. Development of a multi-dimensional measure for assessing entrepreneurial ecosystems. Entrepreneurship & Regional Development 31(1-2):7-21.   DOI
17 Park, C. H, & Kim, Y. S. 2018. A Study on NOx Emission Control Methods in the Cement Firing Process Using Data Mining Techniques. Journal of Korean Society for Quality Management 46(3):739-752.   DOI
18 Autio, E. 2005. Global entrepreneurship monitor. 2005 Report on high-expectation entrepreneurship, 13-16.
19 GEDI. 2019. Global entrepreneurship index. Global Entrepreneurship Development Institute. Retrieved May 25, 2022, from http://thegedi.org/global-entrepreneurship-and-development-index/.
20 GEM. 2022. Global Entrepreneurship Monitor. Retrieved May 24, 2022, from https://www.gemconsortium.org/file/open?fileId=50900.
21 Barinova, V. A., Zemtsov, S. P., & Tsareva, Y. V. 2018. Entrepreneurship and institutions: Does the relationship exist at the regional level in Russia. Voprosy Ekonomiki, 6:92-116.   DOI
22 Binh, T. Q., Huong, V. T. T., & Loan, N. T. B. 2020. ZOMBIE COMPANIES: EXPERIMENTAL RESEARCH FROM REAL ESTATE LISTED SECTORS. International Journal of Early Childhood Special Education (INT-JECSE), 29(5), 1360.
23 Blanchard, O. 2007. Current account deficits in rich countries. IMF Staff Papers 54(2):191-219.   DOI
24 Senthilnathan, S. 2019. Usefulness of correlation analysis. Available at SSRN 3416918.
25 CB Insights. April 11, 2022. The Complete List Of Unicorn Companies. Retrieved from CB Insights database.
26 Cotei, C., & Farhat, J. 2017. The leasing decisions of startup firms. Review of Pacific Basin Financial Markets and Policies 20(04):1750022.   DOI
27 Moore, J. F. 1993. Predators and prey: A new ecology of competition. Harvard Business Review 71(3):75-86.
28 Isenberg, D. 2011. The entrepreneurship ecosystem strategy as a new paradigm for economic policy: Principles for cultivating entrepreneurship. Presentation at the Institute of International and European Affairs 1(781):1-13.