• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.6
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• pp.115-125
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• 2022

As the digital economy has emerged as a means of building a new business order and creating new values, the number of small business owners participating in digital platforms is gradually increasing. This study aims to check whether small business owners participating in the digital platform are being helped to properly respond to the market environment and establish and implement strategies necessary for growth through learning within the platform. To this end, this study attempted to examine the effect of the absorptive capacity of small business owners using e-commerce platforms on market orientation and the moderating effect of vicarious learning and experiential learning, which are two types of learning within the platform. As a result of verifying the hypothesis through the survey, it was found that the absorption capacity of small business owners using digital platforms positively affected their market orientation. In addition, as a result of the moderating effect analysis, it was found that vicarious learning within the platform strengthens the relationship between absorptive capacity and market orientation. This result implies that small business owners can not only prepare for market uncertainties through indirect learning (vicarious learning) but also establish strategies to provide products and services that meet the market's needs. On the other hand, the effect of experiential learning was found to lower market orientation, which means that previous business experiences can rather lower attention to the environment. The significance and implications of the study were presented.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.2
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• pp.53-66
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• 2023

Role models are also known to influence an individual's job or career choice. The positive effect of role models on entrepreneurship has already been revealed through many precious researches. It is said that people choose not only family members who are related by blood, such as parents, siblings, and relatives, but also acquaintances whom they have met through social relationships as role models. In this study, we divided into entrepreneurs with no role models other than themselves and entrepreneurs with role models. In addition, we classified parental siblings and relative role models as role models with strong ties, and acquaintance role models as role models with weak ties. We analyzed the differences in personal attributes, entrepreneurial orientation factors, and learning orientation between the entrepreneurs with role models and those without role models. Also, the differences in personal attributes, innovativeness, proactiveness, risk-taking propensity, and learning orientation between the entrepreneurs with strong ties role models and those with weak ties role models were examined. The empirical analysis results are as follows. First, it was found that the proportion of women entrepreneurs without role models is higher. Second, the entrepreneurs with role models with weak ties tend to run larger scale start-ups. Third, it was found that the entrepreneurs with role models of weak ties tend to have higher learning orientation. Fourth, gender shows the greatest influence on th absence or presence of role models. Fifth, it was found that learning orientation and startup size have the greatest influence on the decision of the role model with weak ties or that with strong ties.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.3
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• pp.141-156
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• 2023

Due to the unprecedented worldwide pandemic of the new Covid-19 infection, business trends of companies have changed significantly. Therefore, it is strongly required to monitor the rapid changes of innovation trends to design and plan future businesses. Since the pandemic, many studies have attempted to analyze business changes, but they are limited to specific industries and are insufficient in terms of data objectivity. In response, this study aims to analyze business trends after Covid-19 using Crunchbase, a global startup data. The data is collected and preprocessed every two years from 2018 to 2021 to compare the business trends. To capture the major trends, a network analysis is conducted for the industry groups and industry information based on the co-occurrence. To analyze the minor trends, LDA-based topic modelling and word2vec-based clustering is used. As a result, e-commerce, education, delivery, game and entertainment industries are promising based on their technological advances, showing extension and diversification of industry boundaries as well as digitalization and servitization of business contents. This study is expected to help venture capitalists and entrepreneurs to understand the rapid changes under the impact of Covid-19 and to make right decisions for the future.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.3
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• pp.173-189
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• 2023

Although many researches have been conducted that the contents consumption, called Hallyu, has a positive effect on the national image of Korea, which leads to product purchases, there have been few empirical studies based on the experience economy theory that connects to value relationships with customers. Therefore, based on the experiential economy theory, this research conducted an empirical analysis of the effect on Korean image and cosmetics purchase intention targeting women living in Malaysia and the Philippines who have experienced the Korean Wave(Hallyu). As a result of the research, entertainment experience, educational experience, and escape experience had a significant effect on the image of Korea, but aesthetic experience did not. Entertainment experience, educational experience and escape experience also had significant relationships in the indirect effect of Korean image on cosmetics purchase intention. In the moderating effect analysis comparing the two countries, in Malaysia, escape experience had a significant effect on the image of Korea, but in the Philippines, entertainment experience and educational experience had a significant effect on the image of Korea, so there was a difference between the two countries. The effect of Korean image on cosmetics purchase intention was confirmed significantly in both countries, but it was greater in the Philippines than in Malaysia. This research is meaningful in that it is an empirical study based on the systematic framework of experiential economy theory. In order to maintain the effectiveness of the Korean Wave(Hallyu), various improvements in the contents that make up the Korean Wave are required and policy consideration by the relevant authorities is needed. It is also necessary to consider each country's different acceptance of the Korean Wave(Hallyu).

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.3
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• pp.1-15
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• 2023

Impact investment involves investing in companies that pursue both social value and financial returns. It focuses on addressing various social problems through innovative solutions while generating profits. The domestic impact investment ecosystem has experienced significant growth with the support of the government and public institutions. In 2021, it witnessed a 3.5-fold increase over three years, reaching a total of 700 billion won in operating assets. In order to foster qualitative growth alongside this quantitative expansion, it is crucial to conduct research specifically on impact investment, which sets it apart from conventional venture investment. This study aims to empirically analyze the unique factors that influence impact investment decisions. Firstly, the factors affecting investment decisions were identified through a literature analysis. Then, a consultation and Delphi survey involving 11 representatives and evaluators from impact investment companies was conducted to determine the major investment determinants. Subsequently, an AHP (Analytic Hierarchy Process) survey was carried out with 10 impact investment evaluators to ascertain the relative importance of these factors. The analysis revealed the following order of importance for the top factors: market>entrepreneur(team)>product/service>finance. Furthermore, the importance of specific factors was identified in the following order: market competition and entry barriers>new market creation>market growth and potential expansion>team expertise and capabilities. Unlike previous studies that primarily focus on general startup investment factors, this research demonstrates that impact investment places greater emphasis on market-related factors and considers the sustainability and profitability of the business model to be more important than the social impact of social ventures.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.1
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• pp.45-61
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• 2022

Despite of the consensus on the critical role of CEO and slack resources for strategic decision making, how they affect in the selection of strategic alliance type is limited. This study investigated the effect of CEO's experiential attributes and the venture firms' slack resource on the selection of strategic alliance type. To this end, this study used multi-variate logistic regression analysis with 1,813 Korean venture firms. The findings indicated that higher education level and large firm experience of CEO positively contributed to form an explorative alliance. And these two experiential attributes has negative effects on the probability of exploitative alliance formation. On the other hand, the entrepreneurial experience has no effect on the selection of strategic alliance type. This study also investigated the effect of slack resource - available slack, recoverable slack, and potential slack-. The more venture firms have available and potential slack, the higher probability of pursuing an explorative alliance. In addition, recoverable slack of venture firms has negative effect only on the selection of explorative alliance. The results of this study are expected to contribute the literatures of strategic management and venture firms by illustrating which CEO and firm-level factors affect the selection of strategic alliance type. This study also extends recent effort to better understand the selection of strategic alliance type with upper echelons theory and slack resource. And this study suggests implications that can increase the probability of successful decision making by venture firms in selection of strategic alliance type.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.2
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• pp.81-97
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• 2022

This paper's purpose is to get hold of the recent research trend by analyzing the variables uesd in startups related papers. The startups related papers in this paper are the papers which include 'startups' in the title of the registered papers from the year 2013 to the year 2020. This study's analysis methods are text-mining of all variables and text-network analysis of affected variables. Visualizing tool for network analysis is Gephi. The result of variables' analysis is as follows. First, independent variables consist mainly of variables about startups' internal factors and outside environment, but due to startups' features like early stage company's features, innovative features, most of variables are about enterprise internal competitiveness, marketing 4P strategy, entrepreneurship, coopreation method, transformational leadership, enterprise features, lean startup strategy, enterprise internal communication, value orientation, task conflict, relationship conflict, knowledge sharing, etc. Second, dependent variables are mainly about outcome, and are classified into financial performance and non-financial performance by overall concept. In other words, startups related papers have higher interest in non-financial performance, like management performance, team performance, SCM performance as well as financial performance like sales quantity owing to startups' immaturity in getting good financial performance. Through this study we can find out as follows. Although there are not many officially registered papers dealing with startups, those papers include various themes about stratups. For example, there are trendy themes like lean startups strategy, crowdfunding, influencer and accelerator, etc.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.5
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• pp.105-115
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• 2022

This study aims to investigate the Effect of Money Rush on Entrepreneurial Opportunity Recognition for college students in Busan and Gyeongnam area. We also examine whether Entrepreneurship has a mediating effect between Money Rush and Entrepreneurial Opportunity Recognition. Since the outbreak of COVID-19, digital transformation of the industry have greatly changed the world of work, and job insecurity is becoming more prevalent. As income inequality expands due to the disparity in asset income, the Money Rush phenomenon, which prefers to increase asset income through investment rather than earned income, is becoming common. Money Rush secures an income pipeline and is divided into side hustles and investments that actively utilize Leverage to maximize profits. The findings of this study confirm that Money Rush has a positive effect on Entrepreneurial Opportunity Recognition and a partially positive effect on Entrepreneurship. Entrepreneurship has a partial mediating effect between Money Rush and Entrepreneurial Opportunity Recognition. The study analysis is expected to contribute to strengthening college students' competencies in Entrepreneurial Opportunity Recognition and presenting the policy and practical directions necessary to promote Start-up.

• Information Systems Review
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• v.23 no.3
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• pp.1-23
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• 2021

The national economic policy paradigm is constantly changing according to the global business environment. Among them, fostering SMEs is a core policy of many developed countries. The growth of SMEs contributes to the creation of jobs and the development of local communities in the era of employment-free growth. In particular, the growth of SMEs is the foundation for growth into mid-sized and large enterprises. Therefore, the growth of SMEs plays an important role in the national economy. Information and communication technology (ICT) became important much more with the emergence of the 4th industrial revolution. Among them, the growth of ICT SMEs is the nation's future asset. Therefore, this study examines and verifies the main factors affecting the performance of ICT SMEs from the view of their R&D resources. On the basis of 1,999 SMEs dataset, empirical analysis was performed to investigate the influence of R&D resources on their corporate performance. Its results are as follows. First, based on theresource-based theory, ICT SMEs' R&D investment, R&D manpower, and government support policies were found to have a positive effect on securing a company's competitive advantage. Second, it was found that the level of product has a positive effect on the company's performance. Finally, it was found that M&A and technology acquisition method strategies differ according to the growth stage of the company. Therefore, in order to achieve technological innovation and corporate performance of ICT SMEs, the government support policy and investment into internal R&D personnel play as main factors. In addition, it was found that technology acquisition strategies differ depending on the growth stage of the company.

• Journal of The Korean Association For Science Education
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• v.27 no.5
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• pp.432-446
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• 2007

The purpose of the study is to explore the science teaching orientations of secondary science teachers, and how they influence the planning and execution of reform-based lessons. Professional development workshop for constructivist teaching consisted of three different phases; five lectures, small group discussion, and preparing lesson plans. Four teachers who participated also executed their lesson plans in their own classroom. All workshops were videotape recorded. Classroom observations and interviews were conducted and recorded. Instructional materials were also collected for each science class. All data recorded were transcribed and analyzed. Based on the data collected from multiple sources, we identified each teacher's teaching orientations, and through this lens, we also tried to understand their classroom practices. We expected teacher-participants to implement constructivist science teaching. However, the differences among teachers in the course of actual planning and implementing activities for constructivist science was wider than we expected and even some teachers were unsuccessful. Teaching orientations can act as a filter for teachers when they decide whether to accept and apply new knowledge about teaching and learning to actual lessons or not. Even if a teacher plans a guided-inquiry lesson, her/his didactic teaching orientation could be revealed in actual classroom, and lead her/his class to other direction which is quite different from her/his original intention. Although the teachers participated in the same workshops in our study, they planned and executed differently and their own teaching orientations contribute substantially to their practice. Understanding the role of science teaching orientations could be an important step in addressing issues of diverse difficulties in supporting reform efforts in science.