• The Journal of the Korea Contents Association
• /
• v.18 no.9
• /
• pp.584-593
• /
• 2018

The startup, which is a common noun to start a small business, has been recently one of main targets for policymakers due to its important role for job creation and considerable potential for sustainability of an economy. However, technological entrepreneurship decreased by 5.0% p from 2013 to 2016. The revitalization of entrepreneurial investment promoted by the government is mainly supported in fruitable venture companies at grow stage or 2~3 years before IPO through venture capital firms and angel funds. It is far from an investment at start-up. It is therefore necessary to motivate private investment to be active in the private start-up sector. In addition, the start-up investment requires institutional support and government support to meet the expectations of investors about the possibility of payback and profitability of private investment invested in the founding period. As a small entrepreneur at a comparably early stage in the lifecycle of business, investments for the startup are generally made by informal investors such as family, friends and fools, and their decision making processes are relatively non-programmed compared with ones for listed corporales such as venture capital and angel fund agency. This study focuses on analyzing decision making factors in investment, and verifying an impact of such factors, specifically the possibility of investment payback and investment profitability, in a decision-making process for the startup especially at the very early stage.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.9 no.3
• /
• pp.47-61
• /
• 2014

Many angel investors hesitate to invest in early-stage company. Most early-stage company has no sales and only R&D step project or in early approach of market. So it's impossible to evaluate early-stage company quantitatively. Therefore many angel investors depend on CEO's tendency to evaluate company and make decision for investment. The purpose of this study is discover the entrepreneurial characteristics of CEO and the importance level which affect on the angel investors decision making factors for investment. To identify the factors of entrepreneurial characteristics, survey was conducted by Delphi Technique which is involved by 20 experts who is angel investment club members, venture capitalists, CEOs and officers. Three rounds of survey results derived 10 elements of entrepreneurial characteristics for investment decision making factors including reliability, risk sensitivity, passion, perseverance, integrity, leadership, startup experience, organizational management skills, innovation and social networking. In addition, this study derived the importance level of elements of entrepreneurial characteristics based on the AHP(Analytic Hierarchy Process) theory and maintained the logical consistency by pair-wise comparison for each element. As a result of analyzing the importance of entrepreneurial characteristics, the sequence is reliability (18.1%), integrity (15.9%), leadership (11.7%), organizational management skills (10.0%), social networking (9.5%), passion(9.1%), perseverance(8.4%), innovation(8.1%), startup experience(5.3%) and risk sensitivity(3.9%) respectively. The significance of this study is somewhat decrease limit of the uncertainty arising from angel investors and angel investors can help a decision making, by discover factors of entrepreneurial characteristics that can be called the biggest influencing factors among Investor's investment decision-making In early stage companies and compare importance.

• Journal of Korea Port Economic Association
• /
• v.29 no.2
• /
• pp.137-157
• /
• 2013

Korean shipping industry is ranked the fifth largest in the world in terms of deadweight tonnage after Greece, Japan, Germany and China with 55 million DWT as of year 2011, and its size of foreign exchange earning marked 30 billion US dollars. In respect of volume of seaborne trade, it has handled 99% of import and export cargoes. Korean shipping fleets have increased from 420 to 979 ships between year 2003 to year 2011. By reviewing through the relating literatures, it has been found that Shipping Funds under Ship Investment Company Act, and Tonnnage Tax System, worked as positive influences to increase the Korean shipping fleets. However, there is scant of research to examine the following two points: 1) weighing the decision making factors of ship investments for Korean shipping companies, and 2) weighing the influential factors of government shipping policies. In this respect, the aim of this study is to evaluate 8 decision making factors of ship investments for Korean shipping companies, and 8 influential factors of government shipping policies. For weighing the factors, the fuzzy methodology was adopted. As the results, for the side of decision making factors of ship investments, 'shipping market conditions and future prospects', 'ship's price and future prospects, and 'securing cargoes and future prospects' are ranked as top 3 factors. For government shipping policies side, 'shipping finance provided by lease companies', 'establishment of Korea Shipping Guarantee Fund', and 'establishment of Korea Shipping Finance Corporation' are verified as the important factors.

• Asia-pacific Journal of Multimedia Services Convergent with Art, Humanities, and Sociology
• /
• v.7 no.1
• /
• pp.117-125
• /
• 2017

People believe that they make a rational decision. But the results of behavioral economics research show that people make a emotional decision at many times. The perception of fairness is one of the example in emotional decision. Sometimes people give up their monetary profit and revenge counterpart when they feel unfair. So the perception of fairness is very important. Two experiment was conducted. In experiment 1, researcher studied the effect of the pre-investment cost in perception of fairness. The result showed people who had pre-investment cost thought more unfair but were more likely to continue prior decision. In experiment 2, researcher studied the effect of type of CEO and message frame in perception of fairness. The results showed that people thought the proposal was more unfair when CEO was son of founder and message was gain and loss framing message.

• 한국벤처창업학회:학술대회논문집
• /
• 2023.11a
• /
• pp.85-89
• /
• 2023

최근 급변하는 세계 경제 환경에서 창업기업은 혁신, 고용 및 경제 활력의 핵심 동력으로 등장했다. 그러나 초기 창업 기업이 성장하는 여정에는 많은 어려움이 따르며, 이 과정에서 엔젤투자자의 역할이 필수적이다. 초기 창업 시장의 촉매제 역할을 하는 엔젤투자자는 필요한 자본을 제공할 뿐만 아니라 경영 노하우 및 네트워크를 통해 창업기업이 성공할 수 있도록 지원한다. 그러나 최근 데이터에 따르면 신생 기업 중 엔젤 투자의 혜택을 받는 기업은 1.4%에 불과한 것으로 나타나 창업기업의 잠재력과 지원 사이에는 분명한 공백이 존재한다. 이 연구는 지속가능한 경제 성장을 위해 창업 생태계의 중요한 요소인 엔젤투자자의 위험회피 성향을 이해함으로써 이들의 투자 행동, 의사결정 프로세스에 대한 통찰력을 얻을 수 있다. 위험회피가 엔젤투자에 미치는 영향을 알아보고 엔젤투자가 활성화 될 수 있는 방법을 제안하고자 한다. 본 연구를 통해 위험회피 성향이 엔젤투자에 대한 관심도와 실제 투자 활동 간의 관계를 추정해보고자 한다. 위험회피 성향이 엔젤투자자에 어떻게 영향을 미치는지 탐색하는 것에 중점을 두고, 엔젤투자자의 행동과 관심사에 영향을 미치는 다양한 요인들을 포함하여 진행한다. 연구 표본은 서울 및 경기 지역의 일반 성인과 엔젤투자자로 설문조사를 통해 필요한 데이터를 수집한다. 이 연구는 위험회피 성향이 엔젤투자 결정에 어떻게 반영되는지에 대한 깊은 이해를 제공하고, 엔젤투자 활성화를 위한 정책 및 전략을 수립하는데 중요한 통찰력을 제공할 것이다.

• Convergence Security Journal
• /
• v.9 no.1
• /
• pp.39-44
• /
• 2009

To get legitimacy of a security investment, the analysis of ROI about the security investment is required. In this paper, we suggest a practical quantitative model with considering factors that do decision-making of optimized security investment difficult. This model makes use of the value of a residual risk to decide the best information security solution and considers a corelation of response techniques of the information security solution against each threat to do exact decision-making.

• Journal of Korea Water Resources Association
• /
• v.39 no.12 s.173
• /
• pp.1067-1080
• /
• 2006

In empirical evaluations of public projects and public provided goods, MCDA(multicriteria decision-making analysis) has helped decision makers with an adequate policy decision-making tool since it allows taking into account a wide range of assessment criteria. As a tool for decision-making of conflict management, MCDA has demonstrated its usefulness in many public projects such as road, dam and harbor construction. In this study, to use this merit of MCDA, dam project assessment indicators from points of social, economic, environmental and practical views are developed based on sustainable development of water resources, and weighting factors are also estimated by means of questionnaire survey. In order to decide project investment rank, developed evaluation indicators are applied to 6 existing dams under investigation for a rehabilitation project. In addition to, it is recognized that the project practicability has become more important indicator as well as environmental and social issues. This is because cooperation and support from a local government and people are regarded as one of the most important problems in public projects recently.

• Proceedings of the Korea Information Processing Society Conference
• /
• 2007.11a
• /
• pp.387-390
• /
• 2007

CMMI 도입은, 추진 이후 프로세스가 조직 내에 내재화되기까지, 상당한 기간과 인력이 소요되는 고비용의 조직 활동이다. 따라서 CMMI 도입 결정에 앞서 ROI 분석을 통한 정확한 의사결정이 필요하다. 지금까지의 CMMI 도입과 관련한 ROI산정방식은, CMMI 의 효과산정방식이 구체적이지 않고, 비용측면에 있어서도 프로세스 정의 및 수행비용을 중심으로 산정할 뿐, 지속적인 내재화에 소요되는 비용을 간과하고 있어, 의사결정지표로서 정확성이 결여되었다. 이에 본 논문은 수익성 개선과 생산성 개선에 기반을 두어 효과를 산정하고, 비용 산정은 프로세스 내재화에 따른 지속적 관리활동이라는 특징을 반영하여, 보다 실제적이고 정확한 ROI 분석 방법인 iROI 산정방법을 제안한다. 증명이 어려운 CMMI 투자성과 분석에 활용될 수 있으며, 타 투자분야와 비교할 수 있는 공정한 의사결정 판단근거로서 활용될 수 있다.

• 한국벤처창업학회:학술대회논문집
• /
• 2023.04a
• /
• pp.145-148
• /
• 2023

최근 딥테크 및 글로벌 스타트업들의 기술경쟁력 제고를 위한 국가적 지원이 증대함에 따라 원천기술을 보유한 기술창업 건 수역대급으로 증가하고 있는 추세이다. 기술 기업들은 사업의 다각화 및 글로벌 진출에 유리하다는 장점이 있으나, 이들의 전략 성공을 위해서는 체계적인 인큐베이팅 및 자금유치는 필수적이라 할 수 있다. 본 연구는 첨단 가술스타트업의 투자유치성과에 중요하게 여겨지는 요인들이 IT 및 BT 산업별로 어떻게 다르게 영향을 미치고 있는지를 연구하는 목적으로 하고 있다. 선행연구에 따르면 기술 스타트업에 대해서는 그들이 보유한 기술 역량(특허), 창업자/팀의 능력, 제휴 등을 중요한 자원으로 보고 있으며, 이는 기업의 퀄리티를 차별화하는 신호로 작용하여 투자유치에 긍정적 영향을 미치는 것으로 나타났다. 본 연구에서는 국내 기술 스타트업의 산업별 차이에 따라 기술 스타트업의 특성이 투자유치성가에 미치는 영향을 비교분석하고자 한다. 본 연구는 2022년 기준 서울시 창업지원시설에 입주한 스타트업 122개사를 대상으로, 전 산업을 대상으로 한 회귀분석모델과 글로벌 산업기술 분류 기준에 따라 구분된 BT 및 IT 산업만을 대상으로 한 회귀분석 모델을 설정하여 연구목적을 규명하고자 한다. 본 연구 결과는 국내 기술스타트업의 투자유치 의사결정에 대한 실증분석을 통하여 기존 이론을 검증하였다는 것에 의의가 있으며, 산업별로 투자유치에서 중요하게 고려하는 요소들이 다르게 작용할 수 있음을 밝히고 산업별 특성에 따라 투자유치 시 실질적으로 필요한 요소들을 제시한다는데 실무적인 시사점을 지니고 있다.

• Journal of Korean Society of Transportation
• /
• v.20 no.5
• /
• pp.45-54
• /
• 2002

The Analytic Hierarchy Process (AHP) has been widely used as a comprehensive evaluation method since it can include various evaluation standards of both the public and private sectors. It also provides the objective mathematics to process subjective and Personal preferences of an individual or a group in making a decision. This study tried to use AHP to determine the priority of roads investment, considering various effects in a hierarchy such as environmental effects, residential life, and regional development which has not been treated explicitly. As a case study, roads in Gyeongsangbukdo province have been chosen for the evaluation in this research. For the application, it used relative measurements to estimate the weight of upper level structure, and absolute measurement for low level structure instead of pairwise comparisons.