• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.6
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• pp.141-158
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• 2022

This study identifies related factors by analyzing the effects of the psychological characteristics and competency factors of traditional market merchants on business performance, and at the same time verifies the moderating effect of government support policies. The research focus was on verifying the causal relationship. This study was conducted targeting the representative traditional market merchants in the metropolitan area who have experience in traditional market specialization projects or are currently in the process of specialization projects. An empirical study was performed based on the collected data. The analysis results are as follows. First, it was found that self-esteem as a psychological characteristic factor of merchants, customer management competency as merchant competency, and informatization capability had a significant positive (+) effect on financial performance among business performance. Second, as a result of examining the moderating effect of government support policies, it was found that product capability had a significant positive (+) effect on financial performance among business performance. It was found that self-esteem and product competency had a significant positive (+) effect on the will to continue business among business performance. The practical results of this study are the research papers to measure the business performance of traditional market merchants using the government support policy as a moderating variable, using the psychological characteristics and competency factors of traditional market merchants as independent variables. For this purpose, it will be positively evaluated that the psychological characteristics of merchants and merchant competency factors affect business performance, and that meaningful research results are derived by analyzing the moderating effect of government support.

• Korean Association of Arts Management
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• no.50
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• pp.33-63
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• 2019

This study examines financial performance of nonprofit performing arts organizations to provide concrete suggestions and improve their financial performance so that they can build strategies to continue organizational activities. This study investigates empirical data of IRS 990 tax form of top 73 US orchestras and analyzed GLS pannel. Dependent variables are measured as contributions and ticket sales, and independent variables are measured as economic environment, cultural capital, orchestra characters, government grants, and social capital. Based on the finding from the research, determination of contribution outcomes is positively affected by state employment and orchestra's internal characteristics including age, size and conductor's US nationality, government grants, and volunteer. Ticket sales are affected by employment, education level, orchestra's resources, government grants, and volunteer. However, a size of cultural market negatively influences on financial outcomes and cultural capital doesn't influence on results. Interesting finding is a relationship between volunteers and organizations is vital of their fiscal achievement. This is significant in empirical analysis on nonprofit performing arts organizations from an economic view point, and will contribute on organizations to improve their strategic plan to sustain a business.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.4
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• pp.161-173
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• 2020

As ICT convergence technology has spread and applied to various industrial fields and society in general, interest in rural entrepreneurship using smart farm as a means for solving many pending problems in agriculture is increasing. In this context, this study is to look at the influential factors in terms of perceived usefulness associated with the rural entrepreneurial intention using smart farm and suggest a proposal for spreading smart farms. The subjects were 296 general adults over 20 years old who were selected by simple random sampling method. The research method was exploratory factor analysis and multiple regression analysis using IBM SPSS 22.0. The perceived usefulness of smart farm, which are availability, reliability and economic efficiency were selected as independent variables to analyze the influential factors on rural entrepreneurial intention using smart farm and the moderating effect of personal innovation was observed. As a result, reliability and economic efficiency have a positive(+) influence on rural entrepreneurial intention using smart farm. And personal innovation moderates the relationship between the availability, reliability of smart farm and rural entrepreneurial intention using smart farm. The results of this study have significance in that we devised and empirically revealed factors affecting rural entrepreneurship intentions from the perspective of perceived usefulness of smart farms, away from studies of general entrepreneurship intention factors such as internal personal characteristics and external environmental factors. The implications of the study are expected to be utilized at the seeking direction of policy for potential entrepreneur using smart farm, the training and consulting in actual field of smart farm.

• Journal of Intelligence and Information Systems
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• v.22 no.1
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• pp.43-61
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• 2016

Customer reviews help potential customers make purchasing decisions. However, the prevalence of reviews on websites push the customer to sift through them and change the focus from a mere search to identifying which of the available reviews are valuable and useful for the purchasing decision at hand. To identify useful reviews, websites have developed different mechanisms to give customers options when evaluating existing reviews. Websites allow users to rate the usefulness of a customer review as helpful or not. Amazon.com uses a ratio-type helpfulness, while Yelp.com uses a count-type usefulness index. This usefulness index provides helpful reviews to future potential purchasers. This study investigated the effects of sentiment and readability on useful votes for customer reviews. Similar studies on the relationship between sentiment and readability have focused on the ratio-type usefulness index utilized by websites such as Amazon.com. In this study, Yelp.com's count-type usefulness index for restaurant reviews was used to investigate the relationship between sentiment/readability and usefulness votes. Yelp.com's online customer reviews for stores in the beverage and food categories were used for the analysis. In total, 170,294 reviews containing information on a store's reputation and popularity were used. The control variables were the review length, store reputation, and popularity; the independent variables were the sentiment and readability, while the dependent variable was the number of helpful votes. The review rating is the moderating variable for the review sentiment and readability. The length is the number of characters in a review. The popularity is the number of reviews for a store, and the reputation is the general average rating of all reviews for a store. The readability of a review was calculated with the Coleman-Liau index. The sentiment is a positivity score for the review as calculated by SentiWordNet. The review rating is a preference score selected from 1 to 5 (stars) by the review author. The dependent variable (i.e., usefulness votes) used in this study is a count variable. Therefore, the Poisson regression model, which is commonly used to account for the discrete and nonnegative nature of count data, was applied in the analyses. The increase in helpful votes was assumed to follow a Poisson distribution. Because the Poisson model assumes an equal mean and variance and the data were over-dispersed, a negative binomial distribution model that allows for over-dispersion of the count variable was used for the estimation. Zero-inflated negative binomial regression was used to model count variables with excessive zeros and over-dispersed count outcome variables. With this model, the excess zeros were assumed to be generated through a separate process from the count values and therefore should be modeled as independently as possible. The results showed that positive sentiment had a negative effect on gaining useful votes for positive reviews but no significant effect on negative reviews. Poor readability had a negative effect on gaining useful votes and was not moderated by the review star ratings. These findings yield considerable managerial implications. The results are helpful for online websites when analyzing their review guidelines and identifying useful reviews for their business. Based on this study, positive reviews are not necessarily helpful; therefore, restaurants should consider which type of positive review is helpful for their business. Second, this study is beneficial for businesses and website designers in creating review mechanisms to know which type of reviews to highlight on their websites and which type of reviews can be beneficial to the business. Moreover, this study highlights the review systems employed by websites to allow their customers to post rating reviews.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.2
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• pp.33-51
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• 2022

This study analyzes newly listed companies on KOSDAQ from 2011 to 2020 for both firms having experience in attracting venture investment before listing (VI) and those without having experience in attracting venture investment (NVI) by examining differences between two groups (VI and NVI) with respect to both the level of listing performance and that of firm performance (growth) after the listing. This paper conducts descriptive statistics, mean difference, and multiple regression analysis. Independent variables for regression models include VC investment, firm age at the time of listing, firm type, firm location, firm size, the age of VC, the level of expertise of VC, and the level of fitness of VC with investment company. Throughout this paper, results suggest that listing performance and post-listed growth are better for VI than NVI. VC investment shows a negative effect on the listing period and a positive effect on the sales growth rate. Also, the amount of VC investment has negative effects on the listing period and positive effects on the market capitalization at the time of IPO and on sales growth among growth indicators. Our evidence also implies a significantly positive effect on growth after listing for firms which belong to R&D specialized industries. In addition, it is statistically significant for several years that the firm age has a positive effect on the market capitalization growth rate. This shows that market seems to put the utmost importance on a long-term stability of management capability. Finally, among the VC characteristics such as the age of VC, the level of expertise of VC, and the level of fitness of VC with investment company, we point out that a higher market capitalization tends to be observed at the time of IPO when the level of expertise of anchor VC is high. Our paper differs from prior research in that we reexamine the venture ecosystem under the outbreak of coronavirus disease 2019 which stimulates the degradation of the business environment. In addition, we introduce more effective variables such as VC investment amount when examining the effect of firm type. It enables us to indirectly evaluate the validity of technology exception policy. Although our findings suggest that related policies such as the technology special listing system or the injection of funds into the venture ecosystem are still helpful, those related systems should be updated in a more timely fashion in order to support growth power of firms due to the rapid technological development. Furthermore, industry specialization is essential to achieve regional development, and the growth of the recovery market is also urgent.

• International Journal of Highway Engineering
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• v.13 no.3
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• pp.157-165
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• 2011

With respect to the trend of highway traffic accident, highway accident is in decline, whileas, the fatality is on an increasing trend. Thus, many efforts to decrease highway traffic accidents and improve the safety, are required. In particular, in case of highway, the management standard by grade for accident black spot is designated. Thus, investing the effect factors by grade for highway traffic accident is required in detail. Thus, in this study, the factors affecting the traffic accidents among the environmental factors based on the graded data for the accident black spot in the applicable section targeting the Seoul-Pusan Express Highway, were reviewed; accident forecasting model which would analyze the characteristics of the accidents for determining the accident grade, was developed. As a result of establishing a model by using Quantification Theory of Type II, considering the characteristics of the dependent and independent variables based on the geometric structure, 'the fixed variable' among the variables relating to the accident, for the variables influencing over the accident grade, 'the type of vans, a chassis and people', 'the trailers, special vehicles and chassis people' and 'the negligence of watching and cloudy weather' were analyzed as common factors, in case of 'horizontal alignment', 'longitudinal slope' and, 'barricade' respectively.

• Journal of Dairy Science and Biotechnology
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• v.35 no.3
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• pp.202-207
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• 2017

The objective of this study was to analyze the effects of homogenization, storage temperature, and storage period on the creaming of milk fat and changes in fat contents in the upper and lower layers and to predict the conditions for optimal homogenization efficiency using response surface methodology (RSM). The homogenization pressure, storage temperature, and storage period were set as independent variables of RSM, and the dependent variables were creaming, US Public Health Service (USPHS) code, and volume weighted mean diameter ($D_{4,3}$) in the upper and lower layers. Based on the results of RSM and regression analysis, the correlation coefficient ($R^2$) between experimental data and predicted values by RSM for homogenized milk was estimated to be more than 0.8. The RSM analysis indicated that optimal homogenization pressures of 14 MPa or more and 17 MPa or more were required to maintain the creaming layer of 3 mm or less during the storage for 15 days at $10^{\circ}C$ and $20^{\circ}C$, respectively. To keep the USPHS code at less than 10% for 15 days at $10^{\circ}C$ and $20^{\circ}C$, milk should be homogenized with a pressure of 16.8 MPa or more and 17 MPa or more, respectively.

• Journal of Technology Innovation
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• v.27 no.4
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• pp.21-48
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• 2019

In the basic research field, quantitative expansion is carried out with active support from the government, but there is no research and policy data suggesting systematic investment plans or data-based financial requirements yet. Therefore, this study predicted future financial requirements of basic research support programs by using time series prediction model. In order to consider various factors including the characteristics of the basic research field, we selected the ARIMAX model which can reflect the effect of multi valuable factors rather than the ARIMA model which predicts the value of single factor over time. We compared the predictions of ARIMAX and ARIMA models for model suitability and found that the ARIMAX model improves the prediction error rate. Based on the ARIMAX model, we predicted the fiscal spending of basic research support programs for five years from 2017 to 2021. This study has significance in that it considers the financial requirements of the basic research support programs as a pilot research conducted by applying a time series model, which is a statistical approach, and multi-variate rather than single-variate. In addition, considering the policy trends that emphasize the importance of basic research investment such as 'the expansion of basic research budget twice', which is the current government's national policy task, it can be used as reference data in establishing basic research investment strategy.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.12
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• pp.394-399
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• 2016

This study examines how the patent results of the University Academic-Industrial Cooperation influence technology transfer. Statistical analysis was performed by using 2013 panel data from the Ministry of Education and Science Technology(MEST) National Research Foundation of Korea(NRF) and the results are as follows. The results show that the patent result factors that have a positive effect on the total number of technology transfers are domestic patent application numbers, foreign patent application numbers, future technology(6T) patent application numbers, science technology patent application numbers. The factors that have a positive effect on increasing royalty are the total number of technology transfers. Domestic patent application numbers, future technology(6T) patent application numbers and science technology patent application numbers have a positive effect on patent results. The results implicate that more research and development is needed for more patents to be applied, that the main focus should be on future technology(6T) and science technology fields, and that effort should be directed at planning negotiation strategies for the term of the contract. However, this study is the need to research, including primary research is so patent performance may be limited in having only been considered in future studies of human and material resources and operating system factors that may be presented to the essential elements of the Industry-Academic Cooperation Foundation this raises.

• Journal of Internet Computing and Services
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• v.18 no.4
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• pp.109-119
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• 2017

This paper is to analyse empirically using the data collected from Korea portal Naver's ad management system and show online ad platform may not be two-sided market. It is aim of this study to propose the appropriate approach to define the market, based on the empirical result. Here are two research questions to be reviewed. First, is there any consistency between business model of search advertising and definition of two-sided market which Rochet-Tirole proposed in 2006? Second, do indirect network externalities exist significantly in search advertising market? if so, this study is going to estimate the level of it through empirical measurement. Based on Luchetta's paper which suggested that google may be one-sided market, it performed the correlation & regression analysis to prove his suggestion. The result is that online search advertising costs increased by more than 50 won when advertisers increased by one unit. However, there was no significant correlation and regression between the search frequency and online search advertising cost. It means that there is little possibility to identify two-sidedness in online search advertising service(market) because of no(or little) indirect network externalities which are a necessary condition for two-sided market. This result has three implications, such as the availability to adapt traditional market definition tools to online search advertising market, the possibility enhancement to find the fundamental competition elements in defined market and promotion of the powers of persuasion in competitive market reality. It is significant that the gap between legal scholars including regulatory practitioners and economists can be overcome to some extent. who have shown the different perspective on the two-sided market.