• Venture DIGEST
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• s.137
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• pp.34-35
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• 2009

지난 11월 호에서는 성공적인 M&A를 위한 전략으로 3가지 방법을 제시했다. 기업을 양도하고자 한다면 기업의 가치가 훼손되기 전에 기업양도 전략을 수립하고 추진해야 성공 확률이 높아 제값을 받을 수 있고, $\blacktriangle$기업을 설립하고 자본을 투입할 때부터 그 투입자본과 잉여금을 언제 어떤 식으로 회수할 것인지를 생각하고 그에 부합되도록 경영전략을 실행해야 하며, $\blacktriangle$M&A는 고도의 전문적인 의사결정이므로 실패(Risk)를 줄이기 위해서는 반드시 M&A 전문가의 자문을 받아 실행하는 것이 바람직하다는 것이다. 이번 호에서는 위의 내용을 바탕으로 몇 건의 M&A사례를 분석하고 그 시사점을 알아보기로 한다.

• The Korean Journal of Financial Studies
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• v.10 no.1
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• pp.73-105
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• 2004

1997년 말 우리나라의 경제위기는 외화보유고의 부족에서 비롯된 것이나 근본적으로는 1996년부터 시작된 한보, 삼미, 기아그룹 등 우리나라 재벌기업의 연쇄도산으로 대변되는 기업의 실패에서 기인하였다. 지난 30년 간 빠른 성장을 지속해 온 우리나라 기업이 90년대 후반부에 총체적 부실의 위기에 직면하게 된 것은 기업외적인 요인보다도 과다차입과 과잉투자, 전근대적인 지배구조 등의 기업 내부적 요인에서 주로 기인한 것으로 지적되고 있다. 그러나 일반적으로 기업실패의 원인으로 지적되는 과다차입과 과잉투자는 문제에 대한 정밀한 진단 없이 국민정서에 부응하여 인구에 회자되는 면이 없지 않았다. 따라서 본 연구에서는 지난 40여년간 높은 부채비율을 유지하면서도 고도성장을 지속해 온 우리나라 기업이 왜 90년대 말에 와서 그것으로 인하여 도산하게 되었는지에 대한 심층적인 분석을 도모하고자 하였다. 분석 결과 우리나라 기업의 연쇄도산은 80년대 말 이래 급격하게 변화된 영업환경으로 인하여 기업의 영업위험이 커진 것이 직접적인 원인으로 작용하였으며 높은 부채비율은 총위험을 줄이지 못했다는 점에서 기업도산의 간접적인 배경을 형성한 것으로 나타났다. 또한 우리나라 기업이 지난 30여년간 투자수익이 자본비용에 못미치는 것으로 드러나 과잉투자를 해 온 것은 사실이나 과잉투자의 배경은 일반 물가상승률을 크게 상회하는 높은 지가상승에 있었으며 또한 80년대까지 정부의 성장에 대한 인센티브와도 직결되어 있었다.

• Journal of Technology Innovation
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• v.26 no.3
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• pp.69-97
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• 2018

This study explored the influence of failure experience of Korean pharmaceutical industries on the innovative activities of corporations from the perspectives of R&D and knowledge search. Previous studies have defined the cause of the failure or studied the reasons for the decline. However, studies analyzing the influence of failure on the innovative activities of corporations are rare. This study set a research period of 10 years for the Korean pharmaceutical industry to conduct a longitudinal analysis of the influence of the influence of failure on innovation activities and the influence of innovation activities on radical innovation. A summary of the research results is as follows. Firstly, failure of corporations induce exploratory innovation activities, and the extent differs greatly from the size of financial slack resource. Secondly, experiences of corporations' failure were not significant from the perspective of knowledge search. Thirdly, the interaction between the corporation's exploratory innovation activities and knowledge search had a positive (+) relationship with radical innovation performance. This study is significant in that it suggested empirical evidence by verifying the positive influence of failure to learning and innovation unlike previous researches viewing failure negatively, and suggested the direction of future studies based on these research results.

• Venture DIGEST
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• s.106
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• pp.35-35
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• 2007

• Proceedings of the Korean Operations and Management Science Society Conference
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• 1995.09a
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• pp.264-279
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• 1995

오늘날 기업 경영 환경은 더욱 복잡해지고, 국가간.지역간 통합 경제 체제 형태로 변화하고 있다. 정보 기술과 텔리커뮤니케이션의 결합에 따른 급속한 발전은 국가간.지역간 경계를 넘어 다국적 기업, 더 나아가서는 범세계적 기 업으로 글로벌(global) 기업을 출현시켰다. 경영 환경의 빠른 변화의 추세 속 에서 경쟁 우위를 지키기 위해서는 이러한 변화를 적절히 수용하고 적응할 수 있는 조직이 필요하였다. 기존의 MIS 관점으로는 환경 변화에 적응 할 수 있는 혁신적인 조직으로 변화시키는 데는 한계가 있었고, 이에 따라 BPR 이 대두되었다. BPR실행에 있어 성공뿐만 아니라 많은 실패도 겪었다. BPR 실행에는 많은 자금과 인력, 시간이 투자되기 때문에 실패의 손실은 기업에 게 큰 타격을 가져다 줄 수 있다. 대부분의 BPR의 실패 원인은 사회적 측면 을 고려하지 못한 데 있다. 정보 기술을 이용하여 프로세스를 급진적으로 재 설계 하였지만, 운영 주체인 구성원의 저항감이나 조직의 문화에 대한 고려 를 하지 못하였다. 그러므로 BPR을 수행함에 있어 사회적 측면과 기술적 측 면을 동시에 고려하여 적용한다면 오류나 실패 요인을 감소시킬 수 있다. 따 라서 요즈음 새로이 부상하고 있는 사회.기술적 시스템 접근법은 성공적인 BPR 실행을 위한 대안이 될 수 있다.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.2
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• pp.15-26
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• 2018

This study examines the effects of failure experience, re-startup's motivation, government support business and education for re-startup on the performance of re-startup firms after failure. In addition, we analyzed how the above factors affect the performance of re-startup firms by the condition of debt and credit problems. As a result of the analysis, the failure experience had no significant effect on the re-startup performance regardless of the credit problem, while re-startup's motivation, government support business and education for re-startup had a significant effect on re-startup firms' performance. In the re-startup group with the credit problem, the re-startup's motivation and the failure experience had a significant influence on the re-startup firms' performance. On the other hand, in the group that did not solve the credit problem, the re-startup's motivation and the failure experience had no significant effect on the re-startup performance, but the government support business and education for re-startup had a significant effect on re-startup performance. The results of this study are as follows: First, it shows that the characteristics of re-startups and the determinants of re-startups are different according to credit problems. Second, this study shows that it takes 56 months on average from the close of business to the re-start, and it may take more than 7 years due to the credit problems and bankruptcy. This suggests the necessity to consider re-startup in the concept of obsolete in consideration of time, when studying the direct/indirect influence of failure experience and re-startup, and establishing policy.

• Journal of Korea Port Economic Association
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• v.28 no.4
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• pp.169-191
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• 2012

This study is to investigate the strategy on forming a long term relationship between logistics service provider and demander including maintaining strategy of it. For these purposes, effect on the organization and human factor of Logistics service companies and also, impact on the customer trust and relational commitment against service recovery are analysed. Literature review and empirical study are used to modify research model and to develop questionnaire for logistics service companies. Reliability for measuring procedure yields the same result on repeated trials and validity for identifying the accuracy of the accrual measuring instrument are also used. Suggested hypothesis are verified through multiple regression method and the testing results are shown as follows; First, organization and human factor have a positive effect to the service recovery satisfaction against the service failure of logistics service providing company. Second, the service recovery satisfaction also leads a positive effect on the customer trust and relational commitment.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.2
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• pp.95-104
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• 2019

Fear to start-up failures has been known to have a negative impact on entrepreneurial intention. This is one of the reasons why the government adopts a policy to help university students overcome their fear of start-ups. Setting educational goals to foster innovative and progressive entrepreneurs, universities have been conducting entrepreneurship education, but it is hard to say that constructive results have been achieved so far. Rather than adopting the practice of optional entrepreneurship education, there is a need to have all university freshmen mandatorily take the course of entrepreneurship education. This study aims to uncover the impact of more aggressive entrepreneurship education position in the university by analyzing empirical data. The relationship between an entrepreneurship level and entrepreneurial intention was tested, and start-up fear was also considered. In the research model, self-leadership and self-efficacy were included as regressors to entrepreneurship levels. Especially, this study tested moderate effects of start-up community during the course. The results from the sample of 2,500 freshmen indicate that entrepreneurship level is significantly improved by taking the course; however, fear to start-up failures remains still. In addition, empirical findings show that putting start-up communities in the entrepreneurship education helps students by moderating self-leadership and self-efficacy. This study extends our knowledge of entrepreneurship education in university by analyzing university freshmen data empirically.

• Journal of the Korea Institute of Information and Communication Engineering
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• v.23 no.2
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• pp.111-116
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• 2019

New technologies such as the IoT, Big Data, and Artificial Intelligence, starting from the Web, mobile, and smart device, enable new business models that did not exist before, and various types of Internet companies based on these business models has been emerged. In this research, we examine the factors that influence the success and failure of Internet companies. To do this, we review the recent studies on business model and examine the variables affecting the success of Internet companies in terms of network effect, user interface, cooperation with actors, creating value for users. Using the five derived variables, we will select 14 Internet companies that succeeded and failed in seven commercial business model categories. We derive decision tree by applying inductive learning based on ID3 algorithm to the analysis result and derive rules that affect success and failure based on derived decision tree. With these rules, we want to present the strategic implications for actors to succeed in Internet companies.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.4
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• pp.51-62
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• 2019

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.