• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.1
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• pp.105-117
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• 2018

In this study, we identify the obstacles that occur through the relationship between I-U cooperation and look for factors that can overcome them in the 'university administration's efforts' and 'Trust between I-U'. In the study of existing I-U cooperation, the relationship between industry and university has accumulated experiences and various channels of bilateral cooperation by sustaining interactions and absorbing capacity of knowledge by path dependence. However, as cooperation increases, 'I-U cooperation barrier' are inevitable, which is explained by two perspectives: 'Difference in mutual recognition' and 'Institutional barriers'. In order to induce the achievement of effective I-U cooperation, it is necessary to overcome these obstacles stemming from mutual relations, and it will be possible to maintain the relationship of continuous I-U cooperation. The researchers conducted research on companies participating in the I-U cooperation technology development project of the 'Ministry of Small and Medium Venture Business', which is a representative I-U cooperation program in Korea. This project will be promoted in the 'Small & Medium Business I-U cooperation Center', an administration-dedicated organization of the university. The researchers measure 'University administration's efforts' and 'Trust between I-U'to overcome'I-U cooperation barrier' In order to clarify the data of the research sample, a questionnaire survey of organizational units was conducted for all companies participating in the 'I-U cooperation technology development projects' of the SMEs and Startups between 2011 and 2015, and the responses of 356 organizations were drawn. The results showed that the higher the level of 'University administration's efforts' and Trust between I-U', the lower 'Difference in mutual recognition' and 'Institutional barriers'. Particularly, it showed higher explanatory power to overcome 'Institutional barriers' among obstacles. Therefore, it should be accompanied by the interest, implementation and institutional support of I-U-R subjects to raise the level of these two factors that can overcome 'I-U cooperation barrier'.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.6
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• pp.1-9
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• 2016

In this study, we investigate the announcement effects of M&As with a start-up as a target firm on shareholder wealth of an acquiring firm. We use M&A events in KOSPI or KOSDAQ market between 2002 and 2014 after the financial crisis. Among the total 1436 mergers and acquisitions that took place domestically during this period, 1383 cases were selected as cases to be studied, excluding 53 cases where acquiring firms were unlisted firms. The results of the analysis are as follows: First, as a result of a comparison between the acquiring firms' CARs of the whole sample group(n=1383) occurred during the (-2, +1), (-5, +2), (-10, +5) periods of M&A announcement date(t=0) and the sub-sample group(n=468) where the target firms are start-ups which were established within five years, the acquiring firms of the whole sample group do not show significat CARs, while the acquiring firms of the sub-sample group show the significantly positive CARs. This suggests that M&A with start-ups have a positive effect on firm value of acquiring firms. Second, when merging unlisted start-ups, the acquiring firms show positive CARs, showing that there exists a listing effect in the merger of start-up. Third, merging the start-ups belonging to the high-tech industry shows the higher CARs than the case of merging the start-ups belonging to the non-high-tech industry. This study has great significance as the first in Korea to investigate the effect of M&A announcement with a start-up.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.10 no.5
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• pp.73-81
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• 2015

This research is designed to analyze the moderating effect of social capital between organizational slack and managerial practices for open innovation. After controlling the firm size, firm age, and environmental uncertainty, we test two hypotheses. First, we test the hypothesis that organizational slack has a positive effect on managerial practices for open innovation. Especially we focus on the managerial innovation and open innovation because recently managerial innovation and open innovation are more and more important. Second, we test the moderating role of social capital between organizational slack and managerial practices for open innovation. Because social capital is a kind of networking activity, we assume that social capital can contribute to managerial practices for open innovation through the networking activity. For this research, we administered the questionnaire surveys, and got the 250 effective data (companies) in Korea. Then we used the validity, reliability, correlation and multiple regression analysis by means of SPSS 18.0. As a result, we can find the two meaningful results. First, organizational slack, especially not absorbed slack but unabsorbed slack, has positive effect on managerial practices for open innovation. It is because absorbed slack such as excessive facilities, machines, or employees is not useful in managerial practices for open innovation. On the other hand, unabsorbed slack is useful in managerial practices for open innovation because unabsorbed slack such as excessive money or securities is very flexible and active. Taken together, the relationship between managerial practices for open innovation and unabsorbed slack is proven in terms of flexibility. Second, social capital has a moderating effect positively between organizational slack, especially not absorbed slack but unabsorbed slack, and managerial practices for open innovation. A prior study related to the relationship between managerial practices for open innovation and social capital doesn't exist yet, so this analysis result is very meaningful in academic respect. But this research has some limitations. First, this research is analyzed by limited region (Korea) and samples (250 companies), so more global regions and samples are recommended in the future. Second, we focus on managerial practices for open innovation in this paper, so the studies about technological practices for open innovation are recommended in the future.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.10 no.6
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• pp.121-132
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• 2015

This study by the authenticity of the CSV in social contribution activities and not giving a positive effect on job satisfaction of employees, as adjusted by the identification variables in the organization that were neglected during the research for the CSV its positive impact on job satisfaction the purpose is to verify whether this study has been carried out by a survey of employees of some medium-sized enterprises and large corporations to small businesses and worker being served on them, social contributions derived for the research activities of public interest and corporate profit activities classified and divided whether the legitimacy of the employees for social contribution activities that are embedded in its base in the perception of moral legitimacy and practical perceived legitimacy of these four variables were presented, and how these variables presented a positive effect on employee job satisfaction, control Job organizational changes saw equate to verify that controls are effective. As a result, first, the authenticity of the CSV is giving a positive effect on the activity of public interest've found that giving a positive effect on the perception of employees and the moral legitimacy, and job satisfaction of employees has showed that it does not affect, whichIt could not be verified because of the moderating effect between job satisfaction and perceived moral legitimacy. Second, CSVDML authenticity showed that a positive effect on the perception of practical legitimacy by giving employees a positive impact on corporate profit activity, which results significantly affected the job satisfaction of employees. And moderator of the organization identified has been proven that there is a moderating effect between job satisfaction and perceived practical justification. In order to improve employee job satisfaction by the public activities through this research, public service activities can be seen that the need for settlement of corporate culture that can impress an astute awareness of the strategic objectives of companies seeking employees.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.3
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• pp.159-174
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• 2020

This study is an empirical study analyzing the effects of positive psychological capital on job burnout. In addition, positive psychological capital played a role in organizational citizenship behavior, and tried to verify the role of organizational citizenship behavior as a black box, or parameter, between job burnout. And then, the sub-factors of organizational citizenship behavior were divided into two: individual-oriented organizational citizenship behavior and organization-oriented organizational citizenship behavior. To this end, a questionnaire survey was conducted for members of small and medium-sized enterprises to compare and analyze the relationship between variables. Positive psychological capital is increasing interest in that it can reduce the job burnout of members and embrace the propensity of young generations represented by millennials because it can improve the effectiveness by developing positive mental states and strengths of the organization. There is a need for research as a keyword. As a result of this study, first, it was found that positive psychological capital of SME(small and medium-sized enterprises) members had a positive effect on organizational citizenship behavior. Second, positive psychological capital was found to have a significant negative effect on job burnout. Third, it was a verification of how positive psychological capital and organizational citizenship behavior affect job burnout. In the relationship between positive psychological capital and job burnout, organization-oriented organizational citizenship behavior was found to play a mediating role. However, it was found that individual-oriented organizational citizenship behaviors among the organizational citizenship behaviors are not valid. In this study, positive psychological capital and job burnout, which have been mainly studied in service workers' emotional workers(crew, nurses, counselors, etc.), nursery teachers, and social workers, were applied to SME members by using the parameters of organizational citizenship behavior. You can put that implication on things. The positive psychological capital and organizational citizenship behavior can be further enhanced through SME members' love for the company, improvement of consideration among employees and resulting organizational commitment and work performance. It could also provide momentum for sustainable management for small and medium-sized enterprises that are relatively short of capital and resources.

• 한국벤처창업학회:학술대회논문집
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• 2010.08a
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• pp.139-160
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• 2010

On July 21st in 2005, People's Bank of China (PBOC) turned the currency peg against the U.S. dollar into managed currency system based on a basket of unnamed currencies under China's exchanged rate regime. This change means that China's enterprises are not free from currency fluctuations. The purpose of this study is to analyze the relations between Renminbi fluctuations in the floating exchange rate and financial results of venture companies. The process and outcomes of this study are as follows, First, in order to measure the financial results of venture companies, I choose venture companies in Shandong Province listed on the Shanghai Stock Exchange (SSE) at random and several quarter financial sheets according to safety ratios, profitability ratios, growth ratios, activity ratios. Second, I arrange the daily Renminbi exchange rate data announced from July 21st, 2005 to December 31st, 2008 by PBOC into the quarterly data. Third, in order to confirm the relations between Renminbi fluctuations and financial results of venture companies, I carry out Pearson's correlation analysis. As a result, the revaluation of the Chinese Renminbi has weakly negative effects on debt ratio, total assets turnover ratio and equity turnover ratio in statistics. But the revaluation of the Chinese Renminbi is not related to other financial index in statistics. The result of this study is that the revaluation of the Chinese Renminbi has little influence on the export and import of Chinese venture companies and certifies the fact that Chinese venture companies have much foreign currency assets. In addition to avoid the currency exposure risk, this study shows the effective method about currency exposure risk which adjusts proportion of Renminbi to foreign currency.

• Korean Journal of Social Welfare Studies
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• v.49 no.3
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• pp.5-33
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• 2018

A self-sufficiency service has worked as a typical workfare policy combined with public assistance in Korea since 2000. Despite of its long history, three core pillars in administrating the self-sufficiency service, policy, research, and practice, have respectively understood the meaning of self-sufficiency in terms of their own interests. As a result, the self-sufficiency service has recently faced with its own identity issues by showing failures to its environmental changes. The current situation makes it necessary to reconceptualize the definition of self-sufficiency by exploring its in-depth understanding perceived by service providers. Specifically, we analyzed practical reflections on 35 service providers' experiences which were collected via focus group interviews for two hours. The study findings presented that service providers had two antithetical approaches towards self-sufficiency. While a dominant approach to self-sufficiency has been concentrated on improving clients' economic outcomes such as employment, job retention, the escape from welfare trap, and increasing earnings and assets, the other approach has been extended to empower clients and achieve their well-being and quality of life. Yet, these contrary perspectives have led to suffer from their role confusions and identity crisis between the work-ready process and the employment-oriented outcomes. Specifically, they described self-sufficiency in terms of psychological, social, and integrated aspects. The psychological aspect included a process of developing inner strengths, intensifying job motivation, and coping with barriers of employment. The social aspect meant a path toward social integration through recovering human relationships. The integrated aspect covered more comprehensive support for their recovery of daily life and autonomy to make a decision for their own life. In conclusion, the study findings suggest that self-sufficiency should be more extensively considered as a stepwise process towards work-ready preparations beyond ultimate economic outcomes. Such an extended concept of self-sufficiency could contribute to restructuring the whole practice of self-sufficiency including organizational and program changes in the fields.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.4
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• pp.19-38
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• 2019

This study is a study on the effect of patent management on the performance of new business development, focusing on fusion expert collaboration. In the past, most studies on patent management have been influenced by the quantitative patent index on the business performance. Therefore, research on the effect of patent management on the performance of new business development through the cooperation of fusion experts was very insufficient. Therefore, this study examined the influence of existing patent management on the performance of new business development and the causal relationship between the influence of patent management on new business development performance, focusing on fusion expert collaboration. The results of the hypothesis empirical analysis are as follows. First, patent management showed positive (+) influence on convergence expert cooperation. Patents management has a positive effect on fostering convergence specialists and utilizing convergence experts. Second, patent management has a positive effect on new business development performance. Patent management has a positive effect on the success of the business, the achievement of target sales, the development of new markets, the development of new technologies, and the degree of reflection of customer requirements. Third, patent management mediated by convergence expert cooperation has a negative effect on financial aptitude among new business development outcomes. The results of this study are as follows. First, it is concluded that patent management through mediation of convergence expert cooperation has a positive effect on non - financial performance of new business development performance. Financial performance includes business success and achievement of target sales. Non-financial performance includes new technology development and new market development. Therefore, in order to continuously generate business performance of domestic convergence new business development companies, it suggests that we should make efforts to be linked with new business development performance through revitalization of patent management centered on convergence expert cooperation that has positive (+) influence.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.6
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• pp.1-14
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• 2018

As interest and consumption of luxury goods have become more popular, luxury goods market is growing rapidly. Consumers can acquire psychological satisfaction with material abundance by purchasing and using luxury goods. Also, from the view of corporations, luxury goods have price inelastic characteristics, so they can enjoy price premium and it is good to produce good performance. That is the reason why they should pay much attention to securing luxuriousness. This study examined the establishment of brands luxuriousness in Korean SMEs. First, it examined the world market of luxury goods industry and the present condition of Korean market. Then it identified the constituents of luxuriousness by examining the prior studies and related literatures, and designed a research model based on the theoretical grounds to suggest the methods of brand luxuriousness building of Korean SMEs. Luxuriousness can be defined as the attribute of product that distinguishes luxury goods from other products by consumers' perceptions, and the factor that provides situational benefits that motivate consumers' purchasing behavior. In this study, I identified the sub-dimensions of luxuriousness according to whether there are product related attributes and consumers' benefit in consideration of the problems of existing studies. Product related luxuriousness are classified into superiority(functional benefit) and scarcity(experiential benefit), while non-product related luxuriousness are classified into differentiation(symbolic benefit) and traditionality(exclusive benefit). The following are the ways to build brand luxuriousness. First, company can use product factors. High quality, excellent design, high recognized brand with strong, favorable and unique images can enhance the luxuriousness of brand. Second, company can use price factors. Consumers tend to perceive luxury goods as high-priced items, so lowering the price of product can undermine the luxuriousness of product. Third, company can use distribution factors. It is effective for making consumers to perceive the differentiation and scarcity of luxuriousness through limited distribution channel. In addition, store atmosphere suitable for luxury brands should be created. Fourth, company can use promotion factors. The more consumers are exposed to advertisements, the more positive attitudes toward luxury brands are made, and consumers recognize luxuriousness higher. Price promotion negatively affects consumers' perception of luxuriousness. Fifth, company can use corporate factors. Consumer evaluations of products are influenced not only by the product attributes but also by the corporate association and corporate image surrounding the product. Considering the existing researches, it is possible to enhance the brand luxuriousness through high corporate competence and good corporate reputation. In order to increase the competence of the enterprise, it is useful to approach multidimensionally in relation with the knowledge creation capability. In corporate reputation, the external stakeholders' reputation is important, but the internal members' reputation is also important. Korean SMEs will be able to build brand luxuriousness by establishing marketing strategies as above and/or mix(integrate) them according to the situation.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.3
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• pp.73-84
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• 2019

Despite decades of work experience, workers at small- and medium-sized enterprises(SME) here have yet to make inroads into the self-employed sector that utilizes the job competency they have accumulated at work after retirement. Unlike large companies, SME do not have a proper system for improving the long-term job competency of their employees as they focus on their immediate performance. It is necessary to analyse the independent variables affecting the job competency of employees of SME to derive practical implications for the personnel of SME. In the preceding studies, there are independent variable analyses that affect job competency in specialized industries, such as health care, public officials and IT, but the analysis of workers at SME is insufficient. This study set the person-job fit and organizational justice based on the prior studies of the independent variables that affect the job competency of SME general workers as a dependent variable. The sub-variables of each variable derived knowledge, skills, experience, and desire for person-job fit, and distribution, procedural and deployment justice for organizational justice, respectively. The survey of employees of SME in Korea was conducted from February to March 2019 by Likert 5 scales, and the survey was retrieved from 323 people and analyzed in a demonstration using the SPSS and AMOS statistics package. Among the four sub-independent variables of person-job fit, knowledge, skills and experience were shown to have a significant impact on the job competency, and desire was not shown to be so. Among the three sub-independent variables of organizational justice, deployment justice has a significant impact on job competency, but distribution and procedural justices have not. Personnel managers of SME need to improve the job competency of their employees by appropriately utilizing independent variables such as knowledge, skills, experience and deployment at each stage, including recruitment, deployment, and promotion. Future job competency modeling studies are needed to overcome the limitations of this study, which fails to objectively measure job competency.