• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.2
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• pp.47-59
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• 2019

Various studies have been carried out on the subject of entrepreneurship, which is required to create new businesses and organizations during the early process of startups based on innovative technologies and ideas. At the same time, the concept of organizational entrepreneurial orientation, which explains how to manage enterprises in the process of pioneering new products and markets, is drawing more and more attention for the purpose of continuously creating and maintaining a competitive edge of startups. This study focused on the relationship between entrepreneurial orientation and startup performance and the role of technological orientation and social capital. An empirical research was conducted on 144 different startup companies residing in startup supporting institutions. To evaluate the suitability of the research model, a PLS-based structural equation model was used. The research results are as follows: First, the entrepreneurial orientation of startups was found to have a positive effect on startup performance. Second, it was shown that entrepreneurial orientation had a positive effect on all three dimensions of social capital and technological orientation. Third, it has been shown that technological orientation and the cognitive dimension of social capital mediates the relationship between entrepreneurial orientation and startup performance. Through this, it was confirmed that entrepreneurial orientation directly affects startup performance, and it even influences the growth of startups by increasing technological superiority and social capital which is inherent in the network. Also, the research identified the need for additional research on the relationship between the strengthening of technological orientation and strategical orientation in startups. This study is expected to expand the discussion about social capital in the field of startup related research by affirming the role and importance of the cognitive system embedded in the network as well as the connectivity of networks, which has been already emphasized in previous startup related studies. Finally, the results of this study were reflected to present new practical implications.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.1
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• pp.165-176
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• 2014

This study is directed to examine the most useful restoration strategies for turning the customers' dissatisfaction caused by unsuccessful spa service to the satisfaction through each fair factors and tries to suggest the practical schemes to cope with complaints and dissatisfaction of spa service customers by establishing the system dealing with customers' complaints. And this verifies the relationship between the alternative attraction and the intention of conversion as the action after the restoration from the unsuccessful services. Moreover, it analyzes the mediation effect that a formation of reliance through the restoration of unsuccessful services has. To achieve the purpose of this study, the subject got decided as women who are customers of private spa facilities situated in Seoul and Gyeonggi-do region for the purpose of skin care in 1 year recently. After understanding their experiences of complaining about the services, this study investigates the alternative attraction and the intention of conversion as the next action and the perception of fairness and trust in the efforts of Spa service business for recovery. As the result of verifying hypothesis, it is shown that the recovery satisfaction increases when the 3 points of the distributive justice, procedural justice, and interactional justice, which are the fairness factors of the effort to restore services according to the quality of service, are more positive. In the relation among recovery satisfaction, trust, the alternative attraction, and the intention of conversion, the result was that recovery satisfaction affects trust in positive way and alternative attraction in negative way. However, the positive and meaningful result came out in contrast with the hypothesis which predicted the negative effect of recovery satisfaction on the intention of conversion. Furthermore, it means that indirect effectiveness which carries trust and alternative attraction should be considered instead of the direct effectiveness that the recovery satisfaction affects on the intention of conversion. In this study, it can be interpreted that the combined increase of the trust and the alternative attraction makes the intention of conversion higher rather than the higher intention of conversion following the decrease of the recovery satisfaction in view of the result that the indirect effectiveness is high between the recovery effort and the intention of conversion. In the relation among the intention of conversion, trust, and alternative attraction, the intention of conversion got influenced in positive way and negative way by trust and alternative attraction respectively and trust influenced the alternative attraction negatively as well. It means the high quality of services or the recovery of services has a direct causation which carries conviction to the customers' intention of action.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.4 no.1
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• pp.29-65
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• 2009

This study is The Effect of the on the purchase behavior of the Software Quality. To have purchased the software in a Consumer surveys were conducted. The following is a summary of results of this research. First, the software quality and significant consumer purchasing behavior (+) of influence. Functionality, usability, portability of software quality attributes the impulse buying and buy more of both the (+) showed the influence. Second, software quality is urge consumers to purchase significant (+) of influence. Functionality, reliability, usability, portability of software quality (+) showed the influence. Third, the software quality In the consumer buy more significant Chung (+) showed the influence. Software quality, functionality, usability, portability name (+) influence. In conclusion, the quality of the software in consumer purchasing behavior (+) were of significant influence. In particular, factors that functionality, usability factors, portability factor in the relatively large influence on the purchasing behavior. Software technology development, planning, development, testing, and in each step must keep in mind the following. First, the software, when used in certain conditions, Inherent ability to meet the needs and requirements set forth to provide the appropriate functionality and accuracy as the ability of software products each other with the capabilities to the effective and thorough security features should be required. Second, software, a user-specified criteria to use in understanding and learning, and must, and the ability to prefer. Software for users to understand and easy to use, whether the check. In particular, understanding the interface, Help understanding, understand the input and output data, and interface consistency, the user information, the message must be equipped and easy to understand. In addition, ease of learning to be self-learning, and help ease of access shall be required. Third, in certain circumstances, a different environment to transfer be equipped with the functionality of the software. Applying data structures and application environment, helping transplant convenience must keep in mind sex.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.1
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• pp.1-15
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• 2020

This study analyzes the innovation performance of venture firms according to existence of venture capital investment, and according to type and ownership of venture capital. Venture firms are IPO firms that are registered on KOSDAQ between the year 2000 and 2016. They are categorized as corporate venture capital-backed firms (CVC) and independent venture capital-backed firms (IVC). Using patent data from KIPO (Korean Intellectual Property Office), we employ the number of patents and the citations per patent as the measurement of the innovation output. We find the positive association between the venture capital-backed firms and the number of patents before going public. Corporate venture capital-backed firms are positively associated with the number of patents before and after IPO. However, we do not find strong evidence between the number of citations and the existence of venture capital investment or the type of venture capital. Lastly, we provide an inverse U-shaped relationship between the innovation performance and venture capital's ownership. In other words, the innovation output, both the number of patents and the number of citations, gradually increases as the venture capitalist's ownership increases, but also shows a decrease pattern, suggesting that the venture capitalist's ownership does not only spur the innovation but also gives a negative effect on venture firm's innovation output such as excessive intervention. Overall, we reveal that the most important factor for the innovation performance is not the existence of venture capital investment or the type of venture capital, but the ownership of the venture capitalist.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.7 no.3
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• pp.115-120
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• 2012

The purpose of this study is to examine the impacts of religious activities on the death anxiety and self appearance, life quilty of senior citizens in a bid to give some suggestions on how the elderly could lead a successful life. The subjects in this study carried out face-to-face interview targeting and convenience sampling 300 elderly people who were aged 65 and over and resided in the city of Gwangju. SPSS 17.0 and AMOS 7.0 programs were used to analyze the collected data. The findings of the study were as follows: First, whether there were any gaps in death anxiety and self appearance, life quality according to the type of religious life was examined, and that made significant differences to life satisfaction(F=9.498, p<.001) and self- esteem(F=9.370, p<.001). But that produced no statistically significant results in association with depression. Second, a confirmatory factor analysis was made to find out the relationship of religion to depression and psychological well-being, and most of their indexes were positive, which proved that the variables had something to do with each other. Last, a path model was analyzed to verify the relationship of the participation of the elderly people in religious activities to their depression and psychological well-being, and the GFI, AGFI, and CFI of the variables were above .80, which lent credibility to the validity of the study.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.12 no.6
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• pp.139-150
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• 2017

In Korea, small and medium-sized enterprises (SMEs) play an pivotal role in the national economy, accounting for 99.9% of all enterprises, 87.9% of total employment, and 48.3% of production. In spite of their crucial role in the national development, most of SMEs suffer from a lack of R&D related resources. Public R&D organizations such as government-funded research institutes can provide SMEs with valuable supplementary technological knowledge and help them build technological capacity. In this regard, this study estimated the effect of internal R&D investment and private-public R&D cooperation on technological innovation of ICT SMEs based on 2016 ETRI Survey. Building on previous literatures, the study established and tested a research model using binary logistic regression analysis. First, internal R&D investment and preferences for open innovation demonstrated the strengthening of R&D collaboration. Second, internal R&D investment and R&D cooperation showed a positive effect on both product and process innovation. Therefore, internal R&D capability and taking advantage of R&D collaboration are needed to achieve technological innovation for SMEs in ICT sector. This study also discuss implications for encouraging private-public R&D cooperation.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.2
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• pp.95-108
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• 2021

Technology innovation activities are very important for companies to secure technological competitiveness and continue to grow. Korea operates a certification system at the national level to promote corporate innovation activities, and strives to enhance SMEs' global technological competitiveness. Among these, the representative system related to technological innovation is the New Excellent Technology (NET) certification. NET is certified through a strict three-stage screening process, and is operated for the purpose of commercialization of new technology, technology trading, and promotion of early market entry by companies. Acquiring NET certification means that the company has a certain level of technological competitiveness. Therefore, this study attempted to conduct an empirical analysis on which technology innovation activities of companies affect the success of R&D projects and improvement of management performance, centering on NET certification system. To verify this, technology strategy, technology planning, systematic R&D process, internal cooperation, and external cooperation activities were set as major variables. As a result of the empirical analysis, it was confirmed that all variables set in this study individually contributed to the success of the R&D project and improvement of management performance. However, when looking at a comprehensive level that considers all variables, it was analyzed that systematic R&D process management and cooperation activities with external organizations have a statistically significant effect on R&D project success, and technology strategy establishment and technology planning activities, which are the initial stages of R&D, have a statistically significant effect on management performance. This study was conducted on innovation-oriented SMEs that have established and operated corporate R&D centers and are actively conducting R&D activities, and multiple regression analysis was used as an analysis method.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.1
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• pp.127-138
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• 2021

The aim of this study is to investigate the effects of each of the three sub-dimensional strategic orientations of technology orientation, customer orientation, and competitor orientation, on performance, targeting IT startups based on technology. and to analyze moderating effect of corporate social responsibility, which is more important to modern society. For the analysis, , The IT startups completed empirical research through path analysis after evaluating the suitability of measurement models and structural models using PLS-SEM for 94 companies less than 7 years that have moved in startup support institutions. As a result of the study, the three sub-dimensions of strategic orientation, technology orientation, customer orientation, and competitor orientation, all had a positive (+) effect on startups' performance. and the Corporate social responsibility orientation was verified as moderating the startup's strategic orientation and startups' performance. The results of this study imply the importance of corporate social responsibility orientation in the strategy setting of start-ups, as well as the direction of strategy-setting for technology-based startups for competitive advantage and long-term survival.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.6
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• pp.157-175
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• 2021

This study categorized 3,214 companies out of the tech firms supported by the Korea Technology Finance Corporation's "technology guarantee scheme" through technology assessment from 2017 to 2019 into Fourth Industrial Revolution-related companies and general SMEs. The impact of the management characteristics of these 1,752 tech firms on the determination of high-growth firms was then empirically analyzed. This study used the OECD(2007) definition to define a "high-growth firm" as "an enterprise with average revenue growth greater than 20% per annum, over a two-year period." As the two sample groups showed non-normal distribution, this study conducted the Mann-Whitney U test, a nonparametric test, to analyze the mean differences and bivariate logistic regression in which the normality assumption is less stringent. The independent variables include fundamental characteristics; a regional dummy; a technological level dummy; and the capabilities of company representatives, human capital, and technological innovation. The corresponding sub-variables are representatives' level of education and experience in the same industry, full-time workers, research personnel, the extent of intellectual property rights, investment in research and development, firm age, total assets, region_metropolitan area, region_central region, technological level_high technology, and technological level_medium technology. As a result, the research hypothesis about representatives' level of experience in the same industry, full-time workers, total assets, and technological level_high technology was supported for the Fourth Industrial Revolution-related companies. For the general SMEs, the research hypothesis about representatives' level of experience in the same industry, research personnel, total assets, and region_metropolitan area was supported.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.2
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• pp.195-205
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• 2022

This study aims to investigate the relationship between Corporate Venture Capital(CVC) investments and firm innovation, exploring the moderating effect of corporate ESG risk on this relationship. First, adopting the organizational learning theory, I theorize a process in which a firm's relationship with a venture through CVC investments acts as an external innovation source for learning and ultimately short-term innovation. Also, based on the discussion of the stakeholder theory, I argue that when a firm is evaluated as having high ESG risk externally, this may have a negative moderating effect that weakens the relationship between CVC investments and innovative performance. In order to verify these hypotheses, panel data analysis was performed using CVC investments data, patent application data, and ESG risk scores of US high-tech firms from 1993 to 2018. As a result of the analysis, as expected, it was found that the more the firm invests in ventures through CVC, the more the firm's innovative performance increases. In addition, the social aspect of ESG risk of a firm, related to the local community and employees, were found to weaken the association between CVC investments and innovative performance. This study expands the understanding of existing research on CVC investments as a vehicle for learning and innovation. Focusing on the importance of relationship with ventures rather than the size of CVC investments, I empirically examined that the formation of CVC relationships with ventures is directly related to the short-term innovation of investing firms. Additionally, this study contributes to the CVC literature by including stakeholders in the current discussion in addition to investing firms and portfolio ventures. Finally, this study investigated how ESG issues, which are attracting attention as playing an important role in firm activities, are related to CVC investments.