• Journal of Korea Technology Innovation Society
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• v.20 no.4
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• pp.1212-1242
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• 2017

In this study, the effectiveness of the innovative company certification system, which is one of the important means of the SME innovation promotion policies, was examined in terms of technological innovation activity and performance. To this end, we used the results of 'SME Technology Statistical Survey' conducted by the Small and Medium Business Administration and the Korea Federation of Small and Medium Business in 2013~2015 to compare the innovative SMEs that have received the certifications such as Venture Certification, Innobiz Certification, and Mainbiz Certification with the general SMEs that did not. As a result, it was found that the innovative SMEs have comparative advantage in many detailed indicators related to the technological innovation activity and performance. However, the ratio of external use of R&D expenditure, the number of technology development attempts and the number of successes were not different according to the survey year, so it is necessary to strengthen the follow-up management of the system. On the other hand, the proportion of self-procurement R&D expenditure of the general SMEs was significantly higher than that of the innovative SMEs in all three-year surveys. Therefore, it is necessary to regulate the government funding for the innovative SMEs to be used as a complementary material, not as a substitute for their own R&D investment. In addition, the technological innovation activity and performance of a company were more influenced by the size of the company and the participating industry rather than by the certification, so it is necessary to consider it when establishing the technology innovation promotion policies.

• Journal of Digital Convergence
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• v.11 no.12
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• pp.257-264
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• 2013

The purpose of this study is to propose plans of accounting transparency enhancement for Korean firms' sustainable growth and moral management. Moral management is not optional but essential strategy under global competitive circumstances. It has been proved that sustainable growth was possible through moral management. The plans of accounting transparency enhancement obtained from this study are as below. The implementation of early childhood education on the role and function of accounting, including contents related accounting ethics in university business curriculum or accounting curriculum, including contents related accounting(management) ethics in various accounting qualification examination, building and utilization of systematic knowledge base on accounting fraud, strengthen supervision for implementation of stable and reliable K-IFRS, improving public ethics through strengthening ethical awareness, devotion of community leaders for the nation and society etc.

• The Journal of the Korea Contents Association
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• v.8 no.3
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• pp.215-224
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• 2008

For global companies that are going to raise funds from international capital markets or to which lots of foreign investment are being given, it is necessary to prepare consolidated financial statements. This study provides the results of some analyses in accordance with the system of consolidated financial statements disclosure. First, disclosing those statements with audit opinion reflected would provide useful reliable and financial information. Second, such disclosure as foresaid would meet international standards that consolidated financial statements are used as main financial statements and separate financial statements as auxiliary ones. The disclosure system would make it possible for domestic corporations to introduce international accounting standards earlier, especially from 2009, in accordance with the road map of those standards. Third, the system of consolidated financial statements disclosure would play an important role in promoting the implementation of consolidated taxation systems under which corporate tax is levied in accordance with consolidated balance sheet.

• Journal of Digital Convergence
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• v.11 no.3
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• pp.181-187
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• 2013

Moreover a new logistics concept is needed through the sharing information between suppliers and consumers, which maximizes the level of customers service and its flexibility by changing functional-oriented to process-oriented. In other words, Supply Chain Management(SCM) is now considered as a key aspect of business, which controls the flows of information, funds, and goods in the supply chain. Rationalization of transport-delivery system will be one of the most important issues on logistics management to the domestic companies. The companies need the effective delivery system. Especially in the case of delivery system from distribution centers to customers or vendors, it might take a long time to control the delivery system manually because it would be hard to apply the automatic vehicle routing algorithm effectively considering all the practical constraints. Thus this study develops a heuristic algorithm of automatic vehicle delivery support system in terms of grouping by short ranges of vehicle movement utilizing postal coordinates, which satisfies a variety of realistic constraints and reduces controlling time of manual operations.

• The Journal of Fisheries Business Administration
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• v.43 no.1
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• pp.75-85
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• 2012

In this paper, we study the extent to which the pecking order theory of capital structure provides a satisfactory account of the financing behavior of Korean fisheries firms using financing deficit. The major results of this study are as follows. Firstly, we find that the financing deficit is a important factor that explains the pecking order theory of fisheries firms'capital structure. However, the financing deficit does not wipe out the effects of conventional variables. The information in the financing deficit appears to be factored in along with many other things that fisheries firms take into account. Such result is consistent with the result of Frank and Goyal(2003). Secondly, we find that profitability is only one factor explaining the capital structure of fisheries firms among conventional variables when we test the regression of leverage with financing deficit during post IMF period. This result is different from the previous researches of Korean fisheries firms. (Kang and Jeong; 1997, Nam, Lee, and Hong; 2011) Finally, we examine the dynamics of capital structure of Korean fisheries firms firstly. It will allow a more detailed analysis for capital structure determinants for Korean fisheries firms.

• Journal of Service Research and Studies
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• v.11 no.3
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• pp.1-16
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• 2021

Recently, crowdfunding has been receiving increased attention due to the variety of novel ways it provides for connecting funders and fundraisers. Concurrently, however, it has been criticized on the grounds of information asymmetry. We are interested in whether information collected from an asymmetric information source significantly influences crowdfunding success. Through this study, we would like to establish a social field of convergence pursued by Serve Science and to conduct practical research and practice together. First, we investigated the importance of interaction between funders and fundraisers within the crowdfunding platform. In the "comments" section, communication between funders and fundraisers reduces the degree of asymmetric information. In the aspect of presumable funders, they should make the best of the "comments" section to collect more solid information without losing return on their investment. Second, we analyze sentiment-based optimistic and pessimistic information from the "story" (asymmetric source) and "comments" sections. In conclusion, it shows that the optimistic and pessimistic information of the "comments" section has a great impact on crowdfunding success and that the influence of the "story" section is limited to pessimistic information under certain conditions. The crowdfunding platform is an innovative and productive way for startups and entrepreneurs to start a business, and since information an important role in the success of crowdfunding, It can be seen that it is essential to focus on establishing the best communication methods.

• KDI Journal of Economic Policy
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• v.14 no.1
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• pp.191-212
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• 1992

This paper discusses the role of money in the process of capital accumulation where financial markets are impeded by contract enforcement problems in the context of overlapping generations framework. In particular, in less developed countries (LDCs) creditors may know little about the repayment capability of potential debtors due to incomplete information so that financial instruments other than money may not acceptable to them. In this paper the impediments to the operation of the private finanical markets are explicitly modelled. We argue that creditors cannot observe actual investment decisions made by the potential borrowers, and as a result, loan contracts may not be fully enforceable. Therefore, a laissez-faire regime may fail to provide the economy with the appropriate financial instruments. Under these circumstances, we introduce a government operated discount window (DW) that acts as an open market buyer of private debt. This theoretical structure represents the practice of governments of many LDCs to provide loans (typically at subsidized interest rates) to preferred borrowers either directly or indirectly through the commercial banking system. It is shown that the DW can substantially overcome impediments to trade which are caused by the credit market failure. An appropriate supply of the DW loan enables producers to purchase the resources they cannot obtain through direct transactions in the credit market. This result obtains even if the DW is subject to the same enforcement constraint that is responsible for the market failure. Thus, the DW intervention implies higher investment and output. However, the operation of the DW may cause inflation. Furthermore, the provision of cheap loans through the DW results in a worse income distribution. Therefore, there is room for welfare enhancing schemes that utilize the higher output to develop. We demonstrate that adequate lump sum taxes-cum-transfers along with the operation of the DW can support an allocation that is Pareto superior to the laissez-faire equilibrium allocation.

• The Journal of Society for e-Business Studies
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• v.25 no.1
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• pp.65-82
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• 2020

Start-ups often use crowdfunding platforms such as Wadiz to get financing from corporate investors and general public. These platforms include functions to increase participant activity through the number of comments, interest and online word-of-mouth. This study aims to elucidate how these functions related to a participant activity exhibit mediating effects on a success of crowdfunding and an achievement rate of targeted investment amount. To this end, the individual variables such as progress period, target amount, venture company, experience of attracting investment, possession of intellectual property rights, a career of the representative and an award experience of the representative were classified into the project characteristics, the company characteristics and the representative characteristics through not only previous studies but also interviews with investment professionals and platform operators. Afterwards, this study went through an empirical verification process using a structural equation model that has both crowdfunding performance and participant activity, which is the independent and mediating factors of three perspectives, as well as the dependent variables. In other words, this study analyzes how the characteristics of three perspectives affect the participant activity and how the participant activity had the mediating effects on the crowdfunding performance. In addition, it derives how the analysis results mentioned above vary according to business types (internet services, culture/art, manufacturing/distribution) and investment styles (stock type and bond type). It is expected that this study will help not only in deriving the factors affecting the performance of an investment type crowdfunding but also in preparing the measures to increase a participant activity.

• Journal of Digital Convergence
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• v.20 no.3
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• pp.251-264
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• 2022

The purpose of this study is to present factors and strategies for successful rewarded-crowdfunding of companies. For this, rewarded-crowdfunding based on the extended theory of planned behavior(E-TPB) by adding individual innovation and risk preference as extended variables, in addition to the basic variables of the theory of planned behavior(TPB), including attitude, subjective norm, and perceived behavior control. In addition, the moderating effect of rewarded-crowdfunding experience was confirmed. In addition, the moderating effect of the rewarded-crowdfunding experience was confirmed, and exploratory factor analysis and multiple regression analysis were conducted for questionnaires who were aware of the concept of rewarded-crowdfunding. As a result of testing the hypothesis, it was found that attitude, subjective norm, perceived behavioral control, and risk preference affect the intention to invest in rewarded-crowdfunding. Also, we could find that perceived behavior control and risk preference were moderately influenced by investor who had experience in rewarded-crowdfunding. Based on the research results, it has academic and practical value by presenting the direction of enhancing the success of rewarded-crowdfunding that companies can use as a way to raise funds and boost sales.

• 한국벤처창업학회:학술대회논문집
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• 2024.04a
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• pp.157-160
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• 2024

KAIST는 다수의 성공 창업 사례와 국내 창업생태계에서 기술창업 발생지로 역사적 의미를 이어오고 있다. 최근 KAIST의 교원 창업이 매년 증가하고 있으며 딥테크 분야 창업으로 성장률과 생존율이 매우 높게 나타나 많은 주목을 받고 있다. 국가적으로도 매우 중요한 혁신기술창업 집적지라는 평가를 받고 있다. 대표적인 기업가적 대학인 KAIST는 기술창업 요람이라고 불리며 오랫동안 캠퍼스 창업생태계를 구축해오고 있다. 또한, 대한민국 창업생태계가 발전하면서 창업기업을 가장 많이 배출시킨 기관으로 혁신적인 창업문화를 선도해 오고 있다. 최근 KAIST의 신문화전략 1 Lab 1 Startup 비전을 수립하였고, 과학기술의 우수한 기술력을 바탕으로 연구실 R&D 기술을 혁신창업으로 이어지는 사업화를 위한 변화와 혁신을 주도하고 있다. 신문화전략 이후 몇 년 동안 교원들이 더욱 창업에 많은 관심을 가지기 시작하였고, 실질적으로 KAIST의 혁신 창업기업 수가 증가하였다. 이러한 결과는 신문화 전략 외에도 다양한 교원창업 성공사례 확산, 교원창업 활성화를 위해 제도개선, 아이디어 발굴부터 기술사업화 지원, 자금조달, 비즈니스 모델 고도화, 기술사업화 및 글로벌 창업지원, 창업 인프라를 제공하고 있기 때문이다. 하지만 KAIST의 창업을 한 교수를 대상으로 세부적으로 기술창업 성공 사례와 핵심요인에 대해서 분석한 연구는 매우 부족하다. 이에 본 연구에서는 KAIST에서는 교원창업 분야에서 성공적인 창업기업을 배출되고 있는 현상에 관한 사례, KAIST의 특화된 창업지원프로그램 소개, 교원 창업 성공 사례들이 어떻게 가능한지에 관한 요인과 그 이유를 탐색하고자 한다. 교수 창업 활성화를 위한 규정, 제도, 창업지원프로그램 등에 대해서 분석을 하고자 한다. 그러므로 본 연구에서는 대표성이 있는 KAIST N차(연쇄 창업가) 창업을 한 A 교수의 사례를 중심으로 어떻게 지속해서 창업하고 있는지, 성공 요인이 무엇인지, 어떻게 하면 교원창업이 활성화될 수 있는지 요인들을 파악하고, 연쇄 창업 방법론이 무엇인지 사례조사와 함께 선행연구 문헌 자료 조사, 인터뷰를 중심으로 연구하여 대한민국에서 실질적인 교수창업이 활성화될 수 있는 활성화 모델을 제시하고자 한다. 따라서 본 연구를 통해 교원창업에 있어서 실질적인 애로사항, 현황, 여러 번 인터뷰를 통해 핵심 요인과 원인을 파악하고자 한다. 국가적으로 대학 교원 창업 활성화 모델이 필요한 시점에 실효성이 있고 성과를 창출할 수 있는 활성화 모델을 제시하여 대학의 우수한 연구, 인적 자원을 활용한 혁신 창업 활성화 모델을 새롭게 제시하여 기업가적 대학으로 발전하고 교원들이 적극적으로 창업에 관심을 가지고 성공적인 성과를 창출할 수 있도록 체계를 만들고자 한다. 본 연구에서 제시하는 A교수의 N차(5개 창업) 창업한 사례 연구를 통해 대학 교원들의 혁신창업 활성화를 위한 정책적, 실무적 시사점을 도출하고자 한다.