• The Journal of Small Business Innovation
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• v.21 no.1
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• pp.43-59
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• 2018

This study investigates the relationship between venture capital (hereafter, VC) syndicate diversity and the IPO performance of an entrepreneurial company backed by the syndicate. Specifically, focusing on three types of diversity within a VC syndicate, which are aligned with Harrison and Klein's seminal categorization in 2007 (i.e., separation, variety, and disparity), this study suggests their distinct effects on performance. Two stage least square analyses with 1,127 VC syndicate investments made by 6,268 VC firms strongly supported the hypotheses. The results showed that that capacity diversity decreases the performance and that expertise diversity and network diversity increase it.

• Journal of the Korea Safety Management & Science
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• v.20 no.4
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• pp.21-37
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• 2018

The purpose of this research was to test the effects of entrepreneurship and technological innovation capability on new product performance in SMEs and the moderating role of absorption capability. For this study, Research data were collected through questionnaire instruments from the sample of 374 employees in 18 SMEs of metropolitan area. The 336 sample was selected and analyzed by hierarchical regression technique. The results showed that entrepreneurship and technological innovation capability had a positive effect on new product performance. And also found out absorption capability had the moderate roles between all the three factors of technological innovation capability factors and new product performance, but not between all the three factors of entrepreneurship and new product performance. With the research results, the implications for technical management of SMEs were discussed, and the directions for future research were suggested.

• Korea Trade Review
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• v.47 no.4
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• pp.103-124
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• 2022

For venturing into international markets, small and medium enterprises (SMEs) have not only emphasized internal resources but entrepreneurial orientation has also become the need of the day due to its significant role in increasing firm's competitive capabilities. Although research indicates that the competitive strategies can significantly impact export performance, minor attention is given to the relationship between entrepreneurial orientation, business competitive strategy and export performance of small and medium enterprises (SMEs). This study scrutinizes the effect of each dimension of entrepreneurial orientation (i.e., innovativeness, risk-taking, and proactiveness) and each of generic competitive strategies (i.e., cost leadership and differentiation) on the export performance of Chinese SMEs. And we investigated the moderating effect of entrepreneurial orientation on the relationship between the competitive strategies and export performance. We surveyed 217 Chinese SMEs through a structured questionnaire. For the data analysis and hypotheses testing, we used AMOS. 27. The findings display that differentiation and cost leadership strategies significantly improve export performance. The innovativeness, risk-taking and proactiveness also spur Chinese SME's export performance. Further we find that adding entrepreneurial orientation significantly improves our model of the relationship between the competitive strategies and export performance. Thus, our study extends the entrepreneurial orientation literature and provides interesting new insights into how entrepreneurial orientation helps firms create more successful export operations.

• Korea Trade Review
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• v.45 no.6
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• pp.1-22
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• 2020

This paper analyzes the influence of entrepreneurial orientation, international market orientation, and investment performance of Korean SMEs in Vietnam on sequential investment. As a result of analyzing the research model using PLS SEM, it was found that Korean SMEs make sequential investments based on investment performance rather than entrepreneurial orientation or international market orientation. In addition, entrepreneurial orientation increased internationa market orientation and had a positive effect on investment performance, which was found to have a positive effect on sequential investment. Through this study, it was clarified that there is a difference between the determinants of initial investment and sequential investment, and it was confirmed that Korean companies show stable and strategic sequential investment tendency rather than proactive and bold investment in Vietnam. In addition, the mediating effect of international market orientation and investment performance in sequential investment was confirmed. In addition, it was confirmed that entrepreneurial orientation was a valid factor in the indirect effect of sequential investment. In the future, for high entrepreneurial orientation Korean companies entered the Vietnamese market, there will be a need for policy support to provide information on Global Value Chain in Vietnam and establish networks on the country.

• 한국벤처창업학회:학술대회논문집
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• 2018.04a
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• pp.177-180
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• 2018

최근 4차 산업혁명 시대라 하여 새로운 기술들이 등장하고 기술들이 융합되면서 새롭고 혁신적인 산업과 서비스가 창출되고 있다. 이러한 시대에 청소년들의 새로운 아이디어와 기술은 4차 산업혁명에 맞는 새로운 성장 동력을 확보할 수 있을 것이라고 여겨진다. 4차 산업의 혁명이 요청되는 이 시기에 산업을 견인할 수 있는 길은 창업의 길이다. 따라서 창업을 통해 4차 산업혁명을 이끌어갈 수 있는 인재가 무엇보다도 필요하다. 청소년들은 학교 프로그램을 통해 다양한 창업교육을 접하고 있으며, 공공기관의 대표적인 창업교육은 중소벤처기업부(구 중소기업청)가 주관하고 있는 BizCool이 있다. 교육부에서 중학생들에게 자유학기제를 2016년 1월 1일부터 실시하고 있으며 BizCool 교육을 통한 창업, 진학, 취업의 우수 사례들이 등장하면서 2017년 현재 대한민국 약 500여개의 학교에서 중소벤처기업부의 지원을 받아 BizCool 교육이 진행 되고 있다. BizCool은 청소년들의 기업가정신 함양 및 모의 창업 교육을 통해 확고한 경제관념을 형성하고 꿈 끼 도전정신 진취성을 갖춘 '융합형 창의인재' 양성을 목적으로 한다. 본 논문은 중학교 자유학기제를 통한 창업교육이 학생들에게 긍정적 사고와 학습성취도에 미치는 관계에 대해 연구하는데 목적을 두었다. 이 목적을 달성하기 위하여 대전광역시교육청에서 자유학기제 BizCool 교육을 받는 3개 학교를 선정하였고 갑천중, 도안중, 문정중 3개 학교의 창업교육 담당교사의 도움을 받아 창업교육 참가 학생을 대상으로 설문조사를 실시하여 연구결과를 분석하였다. 실증분석결과, 첫째, 창업교육은 학생들의 긍정적 사고에 양의 영향을 미친다는 것을 확인하였다. 둘째, 창업교육은 학생들의 학습성취도에 양의 영향을 미친다는 것을 제시하였다. 셋째, 창업교육은 학생들의 학습성취도에 긍정적 사고가 매개효과를 미친다는 것을 분석하였다. 본 연구에서 시사하는 바는 다음과 같다. 첫째, 연구결과 자유학기제 창업교육은 학생들에게 학습성취도를 높여 주었다. 따라서 학생들에게 도움이 되는 BizCool 교육을 전국 초, 중, 고등학교 11,733개교에 확산시켜 체계적으로 습득 할 수 있는 환경이 조성되어야 할 것이다. 둘째, 연구결과 창업교육은 긍정적 사고에 영향을 미쳤다. 전기숙(2016)에 따르면 청소년의 행복에 있어서 긍정적인 대인관계가 가장 중요한 요인이 된다고 하였다. BizCool 교육을 통해 사람과 팀의 소중함을 깨달으며 소통하는 법을 노력한다면 바른 인성을 갖춘 창의성 높은 학생들로 성장할 것이다. 셋째, 연구결과 창업교육의 학습성취도는 긍정적 사고를 가지고 있는 학생들에게 더욱 높게 나타났다. 긍정적 사고를 가지고 자신감 있게 매사 행동해 나간다면 학생들은 성취로 인한 만족감을 느끼며 행복한 학교생활을 해나갈 수 있고 BizCool 교육과 함께 멋진 미래를 만들어 갈 것이다. 본 연구에서 한계점은 다음과 같다. 첫째, 특정 지역, 특정 학교를 대상으로 실시하였기 때문에 표본의 수가 제한적이므로 전체를 대표하기에는 제약이 있다. 둘째, 긍정적 사고는 학생들의 환경과 상황에 따라 달라질 수 있으므로 연구 대상자의 조건 면에서 한계가 있다. 셋째, 중학교 자유학기제 창업교육의 체계화가 미비하다. 학교에서 창업교육을 하는 담당 교사는 창업 경험이 풍부하지 않기 때문에 창업교육 전문가가 필요하며 국가기관과 기업 등이 연계한 학습 형태를 구축하여 더 활발하고 현장감 있는 창업교육이 실시되기를 바란다.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.10 no.4
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• pp.27-37
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• 2015

Start up a company is critical to the regional economy and job creation and so get support from government and other organizations, but there are still exist of high rate of failure and CEO's stressful fear of failure. New firms are of utmost importance for the vitality of national economic driving forces but for those failed firms, they caused social and economic problems directly and indirectly, and brought frustration to the founders. The many education and research programs about entrepreneurship and venture creation were undertaken by the country and organizations, but the education and research about the vigilance of failed to start up company were almost ignored. If the attention can be put into the research about failed companies and the research can make the founders and pre-CEOs aware the failure of establishing a company, that would be very valuable as scenarios to see the company risks. This case study shows the finding the reasons which caused the failure of small venture companies and it's implications in the filed of establishing companies. The technology based venture company which had run 10 years in Daedeok's IT field was selected as the research object. The results show that the important factors such as entrepreneur characteristics(lack of communication and management knowledge), business management(lack of business expertise) and technology(loss of unique feature of product and lack of product extension) were the root cause of failures.

• The Journal of Small Business Innovation
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• v.20 no.2
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• pp.1-16
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• 2017

The purpose of this study is to investigate the factors affecting innovation capability and innovation performance of midsize company entering overseas market. More specifically, in terms of managerial, organizational, and employee - level factors, we set leadership, operating system, and taking charge at work as variables influencing innovation capability and tried to understand the effect of innovation capability on innovation performance through empirical studies. In addition, we examined the differences in the influence factors on innovation capability and the effect on innovation performance in the home country and overseas countries. As a result of the empirical analysis, all of the influence factors had a positive effect on the innovation capability and the innovation capability had a positive effect on the innovation performance. The degree of influence was in the order of operating system, leadership and taking charge at work. In China, there is no significant difference in the order of operating system, leadership and taking charge at work. In the case of Korea, operating system and leadership have a positive effect, but the employee's taking charge at work does not affect innovation capability. The results of this study are as follows. First, it is necessary to enhance innovation capability in accordance with local characteristics. In Korea, there are additional activities to induce employee's taking charge at work is required for improved innovation capability and innovation performance.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.3 no.2
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• pp.65-88
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• 2008

To achieve the age of 30,000 dollars GNP, The business with speed will hold a more crucial point than the business with scale, and the mass consumption market will be transformed and changed into the niche market. Moreover, it will not be easy for the company without the peculiar and creative technology to survive in the severe competition. Under these circumstances, The innovative company which knows how to use this new paradigm will select the better position in the changing market. Innovation type SMEs are contributing in maintaining the international competitiveness of domestic economy by serving high-tech and the promotion of employment. Also, Innovation type SMEs have the most important economic leverage in our domestic economy. It's a source of the growth in domestic economy. Therefore, A lot of countries have been trying to support innovation type SMEs (with a small capital and high-tech). And many countries also try to protect and promote the innovation type SMEs. Especially the Korean government is also promoting innovation type SMEs in many ways, because the future of innovation type SMEs are not bright. This study explored the three innovative SEMs and studied 1) entrepreneur characteristics, 2) the industry environment, 3) competitive strategies, and 4) resources and capabilities of organization, which have been considered as the success factors for entrepreneurial firms. This study also holds that the characteristics of entrepreneurs is one of the most important factor to impact the success of innovative SMEs. Most of entrepreneurs have started their business with high education career and field experiences and have high intentions in developing new/high techonologies, challenging spirits, and clear vision and goals. The innovative SMEs with small kinds of products and services, narrow market, and small resources are more sensitively impacted by the environment especially. But the SMEs which entered into market early could have the comparative excellencies in their market to survive and grow in the future. They also have competitive advantages in the market using differentiation strategies by technology innovation. Technology innovation and differention strategies are one of the success factors in SMEs, They entered into the niche market using this weapons. The capabilities of changing organization to their changing environment, the open orgarnization culture, the continuous employment education, and the building the organic organization are also success factors of innovative SMEs. The SMEs with the simple organization structure can make fast decisions and operate with the autonomous and flexible ways. These only three cases will not shown successful factors of over 12,000 Innovation type SMEs in Korea and this study of Innovation type SMEs is insufficient from all aspects. But this study have many implications for the future research and the entrepreneurs ready for their business.

• The Journal of Small Business Innovation
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• v.19 no.2
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• pp.53-68
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• 2016

Motivation and activities for technological learning, entrepreneurship, innovation, and creativity are driving forces of economic development in Asian countries. In the early stages of technological development, technological learning and entrepreneurship are efficient ways in which to catch up with advanced countries because firms can accumulate skills and knowledge quickly at relatively low risk. In the later stages of technological development, however, innovation and creativity become more important. This study aims to identify a) the factors (learning capabilities) that influence technological learning performance and b) barriers to enhancing innovation capabilities for the creative economy and organizations. The major part of this study is related to learning capabilities in the post-catch-up era. Based on a literature review and observations from Korean experiences, this study proposes a technological learning model composed of various influencing factors on technological learning. Three hypotheses are derived, and data are collected from Korean machine tool manufacturers. Intense interviews with CEOs and R&D directors are conducted using structured questionnaires. Statistical analysis, such as correlation and ANOVA are then carried out. Furthermore, this study addresses how to enhance innovation capabilities to move forward. Innovation enablers and barriers are identified by case studies and policy analysis. The results of the empirical study identify several levels of firms' learning capabilities and activities such as a) stock of technology, b) potential of technical labor, c) explicit technological efforts, d) readiness to learn, e) top management support, f) a formal technological learning system, g) high learning motivation, h) appropriate technology choice, and i) specific goal setting. These learning capabilities determine firms' learning performance, especially in the early stages of development. Furthermore, it is found that the critical factors for successful technological learning vary along the stages of technology development. Throughout the statistical and policy analyses, this study confirms that technological learning can be understood as an intrinsic principle of the technology development process. Firms perform proactive and creative learning in the late stages, while reactive and imitative learning prevails in the early stages. In addition, this study identifies the driving forces or facilitating factors enhancing innovation performance in the post catch-up era. The results of the preliminary case studies and policy analysis show some facilitating factors such as a) the strategic intent of the CEO and corporate culture, b) leadership and change agents, c) design principles and routines, d) ecosystem and collaboration with partners, and e) intensive R&D investment.

• Journal of the Korea Convergence Society
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• v.10 no.12
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• pp.81-91
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• 2019

This study empirically examines the relationship between the characteristics of a company and its performance through open innovation. It was intended to accept open innovation as a strategic means to overcome various situations in which companies faced and to understand it as a process of generating corporate performance. In various situations, companies must overcome environmental and internal factors. As an environmental factor, the dynamics of the market and the dynamics of technology allow for the adoption of open innovation, which in turn becomes a strategic tool for generating results. In addition, the internal environment of the company should strengthen the organization's capacity considering the characteristics of the company. In order to reinforce entrepreneurial orientation, openness of organizational culture, delegation and R & D capabilities, which are internal characteristics of the company, open innovation has a positive effect on the performance of the company. In overcoming the environment given to the company, open innovation was found to be an important medium for generating various results for the company. For this study, we conducted a structured questionnaire survey on 176 Korean companies. This study suggests that open innovation is strategically accepted and understood as a management strategic philosophy in order to overcome the environment in which a company is faced and generate results.