• Korea Journal of Hospital Management
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• v.28 no.3
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• pp.68-86
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• 2023

Purpose: The purpose of this study is to explore the relationship between corporate entrepreneurship and organizational effectiveness among employees of medical institutions. In addition, we aim to investigate the mediating effect of motivation to participate in the In-house Innovation & Start-up Contest and the moderating effect of support from a dedicated organization. Methodology/Approach: A survey was conducted on participants in the 3rd in-house contest held in 2023 at Granum Sinapis Center of Seoul St. Mary's Hospital. A total of 122 people responded to the survey. The collected data were analyzed PLS-SEM(Partial Least Squares-Structural Equation Model) using SmartPLS 4.0 program. Findings: First, 'Corporate entrepreneurship' had an effect on 'Participation motivation in in-house contest'. Second, 'Corporate entrepreneurship' had an effect on 'Organizational Effectiveness'. Third, 'Participation motivation in in-house contest' mediated the relationship between 'Corporate entrepreneurship' and 'Organizational Effectiveness'. And last, 'Support from a dedicated organization' had no moderating effect on the relationship between 'Corporate entrepreneurship' and 'Organizational Effectiveness'. Practical Implications: Since the dedicated organization is in the early stages of operation, there may be no moderating effect on organizational effectiveness. If follow-up research is conducted after the dedicated organization's system has been supplemented, the moderating effect may appear differently.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.1
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• pp.173-188
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• 2023

This paper analyzed the Earnings management of firms selected as preliminary Unicorn. If a manager is selected as a preliminary unicorn firm, he can receive financial support of up to 20 billion won, creating a factor in managing the manager's earnings. The motive for management's earnings management is related to the capital market. Accounting information is used by investors and financial analysts, and corporate profits affect corporate value. Therefore, if the accounting earning is adjusted upward, the corporate value will be raised and investment conditions will be favorable. In this paper, earnings quality was measured by the modified Jones model of Dechow et al.(1995) by the ROA control model of Kothari et al.(2005) among the discretionary accruals estimated using an alternative accrual prediction model. Competing similar companies in the same market as the selected companies were formed, and the discretionary accruals were mutually compared to verify the research hypotheses, and only the selected companies were analyzed for the audit year and after the audit year. As a result of the analysis, it was found that the companies selected as preliminary unicorns had higher earnings management compared to the corresponding companies in question, which had a negative impact on the quality of accounting profits. It was found that the companies selected as preliminary unicorns continued to receive incentives for management's earnings management even after being selected. These results indicate that the companies selected as prospective unicorns are recognized for their value in the market through external growth rather than internal growth, and thus, incentives for management's earnings management to attract investment from external investors under favorable conditions are continuing. In the future preliminary unicorn selection evaluation, it was possible to present what needs to be reviewed on the quality of accounting earning. The implication of this paper is that the factors of management's earnings management eventually hinder investors and creditors from judging the reliability of accounting information. It was suggested that a policy alternative for the K-Unicorn Project, which enhances reliability were presented by reflecting the evaluation of earnings quality through discretionary accruals.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.4
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• pp.195-209
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• 2021

According to the 2019-2020 social media usage survey conducted by the Seoul e-commerce center, 5 out of 10 consumers have experienced shopping through social media. The cost of traditional advertising media has been reduced and advertising spending on social media has risen by 74%, indicating that social media is becoming a more important marketing element. While the number of users of social media has increased and corporate marketing activities have increased accordingly, research has been conducted in various aspects of marketing such as user motivation for social media, satisfaction, and purchase intention. There was no subdivided study on the differences in the social media usage frequency of consumers in actual purchasing behavior. This study attempted to identify differences in consumer characteristics by cluster in the agrifood purchase situation by grouping them by type according to the frequency of use of social media for consumers who purchase agri-food online. Product involvement, product need, and online purchase channel Consumer characteristics such as demographic distribution, perceived risk, and eating and lifestyle in each cluster were checked for the three agrifood purchase situations including choice, and types for each cluster were presented. To this end, questionnaire data on the frequency of social media use and online agrifood purchase behavior were collected from 245 consumers, and the validity of the measurement variables was secured through factor analysis and reliability analysis. As a result of cluster analysis according to the frequency of social media use, it was divided into three clusters. The first cluster was a group that mainly used open social media, and the second cluster was a group that used both open and closed social media and online shopping malls; The third cluster was a group with low online media usage overall, and the characteristics of each cluster appeared. Through regression analysis, the effect on product involvement, product need, and purchase channel selection when purchasing agri-food online through each of the three clusters was confirmed through regression analysis. As a result of the regression analysis, the characteristic of cluster 1 in the situation of purchasing agri-food online is a male in his 30s living in a rural area who has no reluctance to purchase agri-food on social media or online shopping malls. The characteristics of cluster 2 are mainly consumers who are interested in purchasing health food, and the consumer characteristics are represented. In the case of cluster 3, when purchasing products online, they purchase after considering quality and price a lot, and the consumer characteristics are represented as people who are more confident in purchasing offline than online. Through this study, it is judged that by identifying the differences in consumer characteristics that appear in the agri-food purchase situation according to the frequency of social media use, it can be helpful in strategic judgments in marketing practice on social media customer targeting and customer segmentation.

• Journal of Distribution Science
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• v.9 no.2
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• pp.111-122
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• 2011

The purpose of this study is to survey the successful cases of small and medium Business Systematization Cognition by examining their entrepreneurial characteristics and analysing the factors affecting their success. To that end, previous studies on the association types of small businesses were studied. A research model was developed, and research hypotheses for an empirical analysis were established upon it. Suh et al. (2010) insist on the importance of Small Business Systematization in Korea but also show that small business performance is suffering: they are too small to stand alone. That is why association is so crucial for them: they must stand together. Unfortunately, association is difficult, as they have few specific links and little motivation. Even in franchising networks, association tends to be initiated by big franchisers, not small ones. In that sense, association among small businesses is crucial for their long-term survival. With this in mind, this study examines how they think and feel about the issue of 'Industrial Classification', how important Industrial Classification is to their business success, and what kinds of problems it raises in the markets. This study seeks the different cognitions among the association types of small businesses from the perspectives of participation motivation, systematization expectation, policy demand level, and management performance. We assume that different industrial classification types of small businesses will have different cognitions concerning these factors. There are four basic industrial classification types of small businesses: retail sales, restaurant, service, and manufacturing. To date, most of the studies in this area have focused on collecting data on the external environments of small businesses or performing statistical analyses on their status. In this study, we surveyed 4 market areas in Busan, Masan, and Changwon in Korea, where business associations consist of merchants, shop owners, and traders. We surveyed 330 shops and merchants by sending a questionnaire or visiting. Finally, 268 questionnaires were collected and used for the analysis. An ANOVA, T-test, and regression analyses were conducted to test the research hypotheses. The results demonstrate that there are differences in cognition depending upon the industrial classification type. Restaurants generally have a higher cognition concerning job offer problems and a lower cognition concerning their competitiveness. Restaurants also depend more on systematization expectation than do the other industrial classification types. On the policy demand level, restaurants have a higher cognition. This study identifies several factors that are contributing to management performance through differences in cognition that depend upon association type: systematization expectation and policy demand level have positive effects on management performance; participation motivation has a negative effect on management performance. We confirm also that the image factors of different cognitions are linked to an awareness of the value of systematization and that these factors show sequential and continual patterns in the course of generating performances. In conclusion, this study carries significant implications in its classifying of small businesses into the four different associational types (retail sales, restaurant, services, and manufacturing). We believe our study to be the first one to conduct an empirical survey in this subject area. More studies in this area will likely use our research frameworks. The data show that regionally based industrial classification associations such as those in rural cities or less developed areas tend to suffer more problems than those in urban areas. Moreover, restaurants suffer more problems than the norm. Most of the problems raised in this study concern the act of 'associating itself'. Most associations have serious difficulties in associating. On the other hand, the area where they have the least policy demand is that of service types. This study contributes to the argument that associating, rather than financial assistance or management consulting, promotes the start-up and managerial performance of small businesses. This study also has some limitations. The main limitation is the number of questionnaires. We could not survey all the industrial classification types across the country because of budget and time limitations. If we had, we could have produced many more useful results and enhanced the precision of our analysis. The history of systemization is very short and the number of industrial classification associations is relatively low in Korea. We should keep in mind, though, that this is very crucial to systemization entrepreneurs starting their businesses, as it can heavily affect their chances of success. Being strongly associated with each other might be critical to the business success of industrial classification members. Thus, the government needs to put more effort and resources into supporting the drive of industrial classification members to become more strongly associated.

• Journal of the East Asian Society of Dietary Life
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• v.21 no.1
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• pp.134-145
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• 2011

The purpose of this study was to examine the work values of undergraduate-level foodservice major students. In order to assess work values of the participating students, this study adopted 'Maryland Work Values Inventory'. Data from a total of 290 surveys were collected. The participants consisted of 146 commercial foodservice major students and 144 institutional foodservice major students. Among the seven work values, both groups ranked 'job advancement' as the most important work value. Commercial foodservice major students rated 'altruism' as the least important work value, whereas it was 'stimulation' for institutional foodservice major students. 'Need for work' was evaluated statistically higher by junior and senior students compared to sophomore students of commercial foodservice major (p<0.05). In both foodservice majors, a positive relationship was found between work value scores and grade levels. All work value scores tended to be higher for students in higher grades. This tendency was especially statistically clear for the value 'need for work' for commercial foodservice major students and 'money and prestige' for institutional foodservice major students (p<0.05). There were some gaps in the work values between students with different career field choices. For the commercial foodservice majors, those interested in fine dining perceived 'satisfaction and accomplishment' and 'altruism' as more important [4.33 (p<0.05) and 4.05 (p<0.01), respectively] compared to students who had interests in fast food restaurants (4.06 and 3.67 respectively). Scores for 'satisfaction & accomplishment' (p<0.05), 'money & prestige' (p<0.001), and 'stimulation' (p<0.001) were significantly different among institutional foodservice major students. In addition, students more interested in industrial foodservice field regarded 'money & prestige' and 'stimulation' as less important as indicated by noticeably lower scores (3.74, 3.55 respectively) in comparison to the other group (p<0.001). The results of this study, which explored foodservice major students' work values, suggest that there is an increased need for the students to build up their work values as well as for the foodservice industry to offer appropriate work values to future foodservice employees.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.4
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• pp.191-203
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• 2016

This purpose of this study is to academically define what "luxury products" mean, and to clarify the cognitive structural relationship between corporate attributes and "luxuriousness" in relation to the determinant of luxuriousness that eventually affects the purchase intention of consumers. This study is also written under the theory that luxuriousness leads to benefits such as functional benefit, experiential benefit, symbolic benefit, and exclusive benefit; which all provide core values to consumers and serve as effect factors that influence the psychological satisfaction of consumers. The commonly discussed measure of the determinant of luxuriousness has often failed to adequately describe the reasons to why the consumers prefer luxury products. This study also aims to suggest a new path in how and what the consumers perceive as luxury products, and to conceptualize what luxuriousness means in the marketing perspectives on the background of a previous theory. The part of corporate attributes are divided in the following sections: corporate ability(CA) and corporate reputation(CR). The part of the determinant of luxuriousness is divided in sections of superiority, scarcity, differentiation, and traditionality. Therefore, this study used the theoretical concept used in such common measures as well as 282 examples to empirically analyze the relationship between corporate attributes and luxuriousness of luxury products, and how such affect the purchase intentions of consumers. The survey used to aid this study targeted luxury product consumers regarding "B" brand of automobiles. Using the analysis through a structural equation model, the study draws a conclusion that in a relationship between corporate attributes and luxuriousness, corporate ability(CA) of corporate attributes affects the facts of differentiation and traditionality in a significant way, and corporate reputation(CR) of corporate attributes affects the factors of superiority and scarcity in a significant way. Additionally, the superiority and scarcity of luxuriousness positive significantly affects purchase intention, and differentiation and traditionality of luxuriousness affects purchase intention in a negative significant way. The structural concept of luxury and luxuriousness suggested in the study will provide the theoretical basis for building a new case study, and the determinants of luxuriousness in the marketing perspective will be a practical help for checking the consumers' psychological reasons for purchase.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.7 no.4
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• pp.101-112
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• 2012

Business consulting which aims at advising overall management, comparative advantage in competitive environment, administration and so forth is deemed to be significant so that a credit union may flexibly respond to rapid and complicated financial environment. Accordingly, business consulting has been initiated and implemented in credit union since 2002, which seemingly leads to positive outcome to enhance its competitiveness. However, very few research exists which analyze the credit union's competitiveness and business performance after the business consulting. Thus, the research intends to verify how consulting influences on management performance by its various factors. With the above studies in mind, hypothesis is formed that the characteristics of a consulting comsumer and the characteristics of supplier will give a meaningful impact on management performance. The test shows the result as followings: Firstly, a primary credit union's trust and NACUFOK's expertise demonstrate that they are closely relevant to financial and non financial management performance. Secondly, support and willingness to apply states that they influences on non financial performance, while no direct impact is found to financial performance. Thirdly, NACUFOK's capability is rarely interrelated to financial and non financial performance. The present study implies that the credit union as a consulting beneficiary should participate in the consulting, accept the result, and make effort to solve the management problems. In addition, NACUFOK as a consulting supplier should initiate the organization in exclusive charge, perform the professional group, and foster the professional consultant for the development of consulting method, the improvement of consulting process, and the specialization of consultant including the enhancement of core competencies. When these perspectives are sufficient, it will be connected to the management outcomes, further, it will be boosted up the competitiveness of the Credit Union. Hopefully the present study helps to motivate the consulting of primary credit union, boost up the effectiveness of consulting, further, providing the perspective on consulting the credit union. And these may result in the indication of consulting development direction and the competitiveness of Credit Union.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.10 no.4
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• pp.95-111
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• 2015

This purpose of this study is to academically define what "luxury products" mean, and to clarify the cognitive structural relationship between product attributes and "luxuriousness" in relation to the determinant of luxuriousness that eventually affects the purchase intention of consumers. This study is also written under the theory that luxuriousness leads to benefits such as functional benefit, experiential benefit, symbolic benefit, and exclusive benefit; which all provide core values to consumers and serve as effect factors that influence the psychological satisfaction of consumers. The commonly discussed measure of the determinant of luxuriousness has often failed to adequately describe the reasons to why the consumers prefer luxury products. This study also aims to suggest a new path in how and what the consumers perceive as luxury products, and to conceptualize what luxuriousness means in the marketing perspectives on the background of a previous theory. The part of product attributes are divided in the following sections: the quality and design of functional cues and brands of symbolic cues, as well as prices. The part of the determinant of luxuriousness is divided in sections of superiority, scarcity, differentiation, and traditionality. Therefore, this study used the theoretical concept used in such common measures as well as 282 examples to empirically analyze the relationship between product attributes and luxuriousness of luxury products, and how such affect the purchase intentions of consumers. The survey used to aid this study targeted luxury product consumers regarding "B" brand of automobiles. Using the analysis through a structural equation model, the study draws a conclusion that in a relationship between product attributes and luxuriousness, quality(which is one of the functional cues) affects the facts of superiority, differentiation in a significant way, and design affects the factors of scarcity in a significant way. And brand(one of the symbolic cues) significantly affects the factors of traditionality within the luxuriousness factors, and price appeared to affect superiority and scarcity. Additionally, the brand of product attributes significantly affects purchase intention, and superiority and scarcity of luxuriousness affects purchase intention in a significant way. The structural concept of luxury and luxuriousness suggested in the study will provide the theoretical basis for building a new case study, and the determinants of luxuriousness in the marketing perspective will be a practical help for checking the consumers' psychological reasons for purchase.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.4 no.4
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• pp.45-70
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• 2009

This article investigates which types of the strategies announced by the listed firms contribute to enhancing the long-term performance of the companies. Since 2002, Korean Exchange adopted the "faire disclosure policy" which mandates that all publicly traded companies must disclose material information to all investors at the same time. Thanks to the policy, Korean investors can, now, easily access the board's decision on management strategies on the same day the decision is made. If the companies trustfully carry out their announced strategies, we can decide which types of strategies actually enhance or deteriorate the long-term performance, simply by comparing the announced strategies and the firm's performance. The sample companies are confined to 60 firms that became listed in the KOSDAQ market through back-door listing from 2003 to 2005. Using only the newly listed companies, we can avoid the interference on the long-term performance of the strategies pursued before the event date. This often holds true, for many companies radically modify their strategies after the listing. Furthermore, the back-door listing companies serve our purpose better than IPO companies do, because the former tend to have a variety of announcement within a given period of time beginning the listing date. Using these sample companies, this article analyzes the effect on one year buy-and-hold returns and abnormal buy-and-hold returns after the listing of the various types of strategies announced during the same period of time. The results show that those evidences of restructuring such as 'reduction of capital' and 'resignation of incumbent board members', actually contribute to the increase in adjusted long-term stock returns. Those strategies which can be view as evidence of new investment such as 'increase in tangible assets', 'acquisition of other companies', do also helps the stockholders better off. On the contrary, 'increase in bank loans', 'changes of CEO' and 'merger' deteriorate the equity value. The last findings let us to presume that the back-door listing companies appear to use the bank loans for value-reducing activities; the change in CEO is not a sign of restructuring, but rather a sign of failure of the restructuring; another merger carried out after back-door listing itself is also value-reducing activity. This article's findings on reduction of capital, merger and bank loans oppose the results of the former empirical studies which analyze only the short-term effect on stock price. Therefore, more long-term performance studies on public disclosures are in order.

• 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.