• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.6
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• pp.17-29
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• 2021

Recently, as social distancing have been raised due to the re-spread of COVID-19, the number of serial entrepreneurs who are closing their business is rapidly increasing. Learning from failure is a source of success, but business failure can result in psychological and economic losses and negative emotions of the serial entrepreneur. At this point, it is very important to find a way to recover the negative emotions caused by business failures of serial entrepreneurs. Recently, a strategic model has emerged to deal with the negative emotions of grief caused by business failures of serial entrepreneurs. This study identified the recovery factors from the grief of business failures of serial entrepreneurs and analyzed Shepherd's(2003) three areas: loss orientation, restoration orientation, and dual process. To this end, individual in-depth interviews were conducted with 12 small business serial entrepreneurs who challenged re-startup to identify the attributes of recovery factors that were not identified with quantitative data. As a result of the study, first, recovery factors were investigated in three areas: individual orientation, family orientation, and network orientation. It was found to help improve recovery in nine categories: self-esteem, persistence, personal competence, hobbies, self-confidence, family support, networks, religion, and social support. Second, recovery obstacle factors were investigated in three areas: psychological, economic, and environmental factors. Nine categories including family, health, social network, business partner, competitor, partner, fund, external environment, and government policy were found to persist negative emotions. Third, the emotional processing process for grief was investigated in three areas: loss orientation, restoration orientation, and dual process. Ten categories such as family, partner support, social member support, government support, hobbies, networks, change of business field, moving, third-party perspective, and meditation were confirmed to enhance rapid recovery in the emotional processing process for grief. The implications of this study are as follows. The process of recovering from the grief caused by business failures of serial entrepreneurs was attempted by a qualitative study. By extending the theory of Shepherd(2003), This study can be applied to help with recovery research. In addition, conceptual models and propositions for future empirical research were presented, which can be discussed in carious academic ways.

• Journal of The Korean Association For Science Education
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• v.42 no.3
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• pp.371-381
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• 2022

This study causally investigates whether high school student with high science learning motivation becomes to achieve more or vice versa, and also how those two factors affect STEM career motivation. Research participants were 1st year students in a high school at Seoul. We surveyed their science learning motivation three times in the same time interval in the fall semester of 2021, and once a STEM career motivation in the third period. We collected data from 171 students with their mid-term and final exam scores, with which, we constructed and fitted an autoregressive cross-lagged model. The research model shows high measurement stability and fit indices. All the autoregressive and cross-lagged paths were statistically significant. However, standardized regression coefficients were larger in path from motivation to achievement compared to the opposite. Only science learning motivation shows significant direct effect on STEM career motivation, rather than achievement. For indirect effects, the first science learning motivation affected the final exam score and STEM career motivation, and the final exam score affected STEM career motivation. However, the final exam score did not have a total effect toward STEM career motivation. The result of this study shows reciprocal and cyclic causality between science learning motivation and achievement - in comparison, the effect of motivation for the opposite is larger than that of achievement. Also the result of this study strongly reaffirms the importance of science learning motivation. Instructional implications for strengthening science learning motivation throughout a semester was discussed, and a study for the longitudinal effect of science learning motivation and achievement in high school student toward future STEM vocational life was suggested.

• Journal of Intelligence and Information Systems
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• v.28 no.4
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• pp.157-177
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• 2022

Investors are trading stocks by keeping a close watch on the order information submitted by domestic and foreign investors in real time through Limit Order Book information, so-called price current provided by securities firms. Will order information released in the Limit Order Book be useful in stock price prediction? This study analyzes whether it is significant as a predictor of future stock price up or down when order imbalances appear as investors' buying and selling orders are concentrated to one side during intra-day trading time. Using classification algorithms, this study improved the prediction accuracy of the order imbalance information on the short-term price up and down trend, that is the closing price up and down of the day. Day trading strategies are proposed using the predicted price trends of the classification algorithms and the trading performances are analyzed through empirical analysis. The 5-minute KOSPI200 Index Futures data were analyzed for 4,564 days from January 19, 2004 to June 30, 2022. The results of the empirical analysis are as follows. First, order imbalance information has a significant impact on the current stock prices. Second, the order imbalance information observed in the early morning has a significant forecasting power on the price trends from the early morning to the market closing time. Third, the Support Vector Machines algorithm showed the highest prediction accuracy on the day's closing price trends using the order imbalance information at 54.1%. Fourth, the order imbalance information measured at an early time of day had higher prediction accuracy than the order imbalance information measured at a later time of day. Fifth, the trading performances of the day trading strategies using the prediction results of the classification algorithms on the price up and down trends were higher than that of the benchmark trading strategy. Sixth, except for the K-Nearest Neighbor algorithm, all investment performances using the classification algorithms showed average higher total profits than that of the benchmark strategy. Seventh, the trading performances using the predictive results of the Logical Regression, Random Forest, Support Vector Machines, and XGBoost algorithms showed higher results than the benchmark strategy in the Sharpe Ratio, which evaluates both profitability and risk. This study has an academic difference from existing studies in that it documented the economic value of the total buy & sell order volume information among the Limit Order Book information. The empirical results of this study are also valuable to the market participants from a trading perspective. In future studies, it is necessary to improve the performance of the trading strategy using more accurate price prediction results by expanding to deep learning models which are actively being studied for predicting stock prices recently.

• Journal of Intelligence and Information Systems
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• v.29 no.3
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• pp.287-316
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• 2023

As global energy crisis and the COVID-19 pandemic have emerged as social issues, there is a growing demand for companies to move away from profit-centric business models and embrace sustainable management that balances environmental, social, and governance (ESG) factors. ESG activities of companies vary across industries, and industry-specific weights are applied in ESG evaluations. Therefore, it is important to develop strategic management approaches that reflect the characteristics of each industry and the importance of each ESG factor. Additionally, with the stance of strengthened focus on ESG disclosures, specific guidelines are needed to identify and report on sustainable management activities of domestic companies. To understand corporate sustainability strategies, analyzing ESG reports and news articles by industry can help identify strategic characteristics in specific industries. However, each company has its own unique strategies and report structures, making it difficult to grasp detailed trends or action items. In our study, we analyzed ESG reports (2019-2021) and news articles (2019-2022) of six companies in the 'Finance,' 'Manufacturing,' and 'IT' sectors to examine the sustainability strategies of leading domestic ESG companies. Text mining techniques such as keyword frequency analysis and topic modeling were applied to identify industry-specific, ESG element-specific management strategies and issues. The analysis revealed that in the 'Finance' sector, customer-centric management strategies and efforts to promote an inclusive culture within and outside the company were prominent. Strategies addressing climate change, such as carbon neutrality and expanding green finance, were also emphasized. In the 'Manufacturing' sector, the focus was on creating sustainable communities through occupational health and safety issues, sustainable supply chain management, low-carbon technology development, and eco-friendly investments to achieve carbon neutrality. In the 'IT' sector, there was a tendency to focus on technological innovation and digital responsibility to enhance social value through technology. Furthermore, the key issues identified in the ESG factors were as follows: under the 'Environmental' element, issues such as greenhouse gas and carbon emission management, industry-specific eco-friendly activities, and green partnerships were identified. Under the 'Social' element, key issues included social contribution activities through stakeholder engagement, supporting the growth and coexistence of members and partner companies, and enhancing customer value through stable service provision. Under the 'Governance' element, key issues were identified as strengthening board independence through the appointment of outside directors, risk management and communication for sustainable growth, and establishing transparent governance structures. The exploration of the relationship between ESG disclosures in reports and ESG issues in news articles revealed that the sustainability strategies disclosed in reports were aligned with the issues related to ESG disclosed in news articles. However, there was a tendency to strengthen ESG activities for prevention and improvement after negative media coverage that could have a negative impact on corporate image. Additionally, environmental issues were mentioned more frequently in news articles compared to ESG reports, with environmental-related keywords being emphasized in the 'Finance' sector in the reports. Thus, ESG reports and news articles shared some similarities in content due to the sharing of information sources. However, the impact of media coverage influenced the emphasis on specific sustainability strategies, and the extent of mentioning environmental issues varied across documents. Based on our study, the following contributions were derived. From a practical perspective, companies need to consider their characteristics and establish sustainability strategies that align with their capabilities and situations. From an academic perspective, unlike previous studies on ESG strategies, we present a subdivided methodology through analysis considering the industry-specific characteristics of companies.

• Korean Journal of School Psychology
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• v.16 no.3
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• pp.231-263
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• 2019

The purpose of this study was to verify the effects of growth orientation, life satisfaction, perceived stress, positive psychological capital and interpersonal relationships in the group coaching program for the promotion of growth orientation for university students based on the model of the social-cognitive approach to motivation. The program consisted of eight topics: growth orientation, growth mindset and brain plasticity, self-directed goal setting, talent which is a product of ongoing effort, failure attitude and perspective change, positive emotion, thinking and behavior, value of growth orientation and self-coaching, respectively. The program comprised a total of eight sessions, 120 minutes each, and the final program was completed through a preliminary experiment with three university students. In order to verify the effectiveness of the program, 48 university students were divided into 16 in the experimental group, 16 in the comparative group, and 16 in the control group. The experimental group participated in the group coaching program to enhance the growth orientation based on the model of the social-cognitive approach to motivation developed in this study, the comparative group participated in a learning goal orientation improvement program based on an incremental implicit theory, and the control group did not carry out any program. Three groups were tested in pre, post, follow-up1(after 1 month) and follow-up2(after 3 months) in order to growth orientation, life satisfaction, perceived stress, positive psychological capital and interpersonal relationships. We performed analysis to confirm the homogeneity to the data of the three groups and to verify the interaction effects between times and groups. As a result, it was confirmed that the group coaching program to promote growth orientation, life satisfaction, perceived stress, positive psychological capital and interpersonal relationships had statistically significant effect and was more effective than the comparative program due to the larger effective size. Also, we confirmed that the coaching effect was sustained after the program was finished and more effectively maintained than the comparative program. Based on the results of this study, this study has academic implications because it verify the effectiveness of the group coaching for the promotion of the growth orientation by scient ic method.

• Korean Journal of Culture and Social Issue
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• v.18 no.4
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• pp.505-532
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• 2012

The purpose of this study was to examine the relationship among the growth period wounds, inferiority complex and personality disorder of teenaged students, which affected their mental health. The subjects in this study were 2,110 secondary students. After a survey was conducted, the collected data were analyzed. Whether there would be any differences among the adolescents in those factors were analyzed, and multiple regression analysis and path analysis were carried out. As a result, there were relatively more significant problems with the growth period wounds, inferiority complex, personality disorder and mental health of the students who were girls, who were high schoolers, whose household economy was more vulnerable and whose academic standing was lower. The growth period wound that exerted the largest significant influence on inferiority complex was happiness, followed by wound of security and wound of recognition, and the growth period wound that had the greatest significant impact on personality disorder was happiness, followed by wound of security, wound of confidence, wound of love and wound of equity. The growth period wound that exercised the biggest influence on mental health was happiness, followed by wound of security, wound of confidence, wound of love and wound of equity. As for the influence of the variables related to mental health, the indirect effects of the growth period wounds through personality disorder and inferiority complex were greater than their direct effects. The findings of the study suggest that growth period wounds are likely to lead to inferiority complex and personality disorder and ultimately to the injury of mental health, and indicate the importance of healthy family environments and of educational environments in the growth period.and mental health was analyzed, there was a statistically significant positive(+) correlation among all the variables. Third, the wound factors related to happiness and stability were identified as the factors that affected inferiority complex among the growth period wound factors. Personality disorder was found to be under the influence of the wound factors related to happiness, stability, love, confidence and a sense of equality in the growth period, and mental health was found to be affected by the wound factors related to happiness, stability, confidence, love and a sense of equality. Fourth, the growth period wounds had a direct impact on mental health, and inferiority complex played a significant mediating role at that time. Every subfactor of personality disorder also produced significant mediating effects except the wound factor of pride. The above-mentioned findings suggest that every possible effort should be made to let secondary students get hurt less to promote their mental health and resolve their mental health problems, and that professional counseling intervention and institutional assistance are required to help them to remove their inferiority complex and personality disorder.

• Journal of Venture Innovation
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• v.3 no.2
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• pp.111-128
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• 2020

Recently, in the process of globalization of companies, the use of third party logistics providers (3PL) has been strengthened. Therefore, the purpose of this study is to test the effectiveness of the logistics information system provided by 3PL companies. This study is to test the relationship between the effect of the characteristics of the 3PL logistics information system on the shipper's supply chain performance, that is, logistics performance, customer performance, and organizational performance, and the shipper's loyalty to the 3PL company, that is, 3PL corporate performance. In addition, long-term relationship orientation is to test whether there is a moderating effect between the shipper company and the 3PL company. Through this, this study aims to provide strategic implications for improving the competitiveness of 3PL companies. In this study, a total 205 data were collected and used for analysis of shippers companies for hypothesis testing, and analyzed using SPSS 21.0 and AMOS 21.0 statistical programs. The results of the study are summarized as follows. First, it was found that the accuracy, timeliness, and usefulness of the 3PL logistics information system all had a significant positive (+) effect on the performance of the shipper's supply chain. Second, it was found that the accuracy, timeliness, and usefulness of the 3PL logistics information system all had a significant positive (+) effect on 3PL corporate performance. Third, it was found that the performance of the supply chain of the shipper company had a significant positive (+) effect on the performance of the 3PL company. Finally, it was found that long-term relationship orientation had a moderating effect on the relationship between the performance of the shipper company's supply chain and the performance of the 3PL company. The purpose of this study is to provide academic and practical implications for securing competitive advantage through the logistics information system of 3PL logistics companies.

• Journal of Venture Innovation
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• v.4 no.2
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• pp.77-95
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• 2021

In the midst of the progress of the 4th industrial revolution, the Corona19 Pandemic was forming giant double wave. Companies riding this wave can win, but companies that do not will fall into the wave and struggle. In connection with the 4th industrial revolution, various technologies are emerging and commercialized. At this point, consumers, especially digital natives, who have been with digital since birth, tried to find out what factors affect the intention to use these technologies and which factors have the most important influence. For this purpose, data were collected through a survey on factors affecting the intention to use FinTech technology and AR technology for 150 digital natives in their 20s. Based on this, statistical analysis was conducted and the following results were obtained. As a result of the overall analysis regardless of the type of technology, it was found that performance expectancy, effort expectancy, social influence, and habits have a positive (+) effect on digital natives' intention to use the 4th industrial technology. On the other hand, a significant influence relationship between the facilitating conditions, hedonic motivation and intention to use the 4th industrial technology was not tested. It was found that the influence was greatly influenced by social influence and habits. In the case of FinTech and AR, which were further subdivided into this study, different aspects were revealed as a result of separate analysis. In the case of FinTech technology that emphasizes utilitarian value, performance expectancy, effort expectancy, social influence, and habits had a positive (+) effect on intention to use. It was found that the influence was greatly influenced by habits and social influence. In the case of AR, which emphasizes the hedonic value, all the variables adopted in this study had a positive (+) effect on the intention to use the technology. It was found that hedonic motivation and social influence had a great influence. Combining the results of the analysis, social influence was found to be an important influence variable regardless of the type of 4th industrial technology. FinTech technologies such as mobile banking, where services are becoming more common, are habits, and in the case of AR, which has not yet been universalized and is provided mainly for entertainment, hedonic motivation was found to be an important factor. This study was able to present academic and practical implications based on the above confirmation of factors affecting digital natives' acceptance and use of the 4th industry technology.

• Journal of Venture Innovation
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• v.5 no.4
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• pp.135-156
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• 2022

This study attempted to identify the factors affecting entrepreneurial intention and to confirm the moderating effect of social support that plays a positive role in increasing entrepreneurial intention. The subjects of the study were 419 ordinary people, and data were obtained online and analyzed. The analysis method of this study was based on the SPSS statistical program Ver. 24, and a hierarchical regression analysis method was conducted to analyze the moderating effect. The results of hypothesis verification analysis in this study are as follows. First, innovativeness, risk-taking, self-fulfillment, economic motivation, immersion in a drama, drama role model, and indirect experience, all had a significant positive(+) effect on entrepreneurial intention. Second, among the factors affecting entrepreneurial intention, self-fulfillment was found to have the greatest influence. Third, it was confirmed that the moderating effect of social support between various variables and entrepreneurial intention had a significant effect on innovativeness, self-fulfillment, drama role model, and indirect experience, and entrepreneurial intention. The academic value of this study is to confirm the effect of drama characteristic variables on entrepreneurial intention. In addition, it was possible to confirm the moderating effect of social support, which is the total of individual external support. The implication of this study is that the desire for achievement had the greatest influence on entrepreneurial intention. Therefore, it is necessary to develop a desire to achieve in start-up support policies and start-up education. In addition, in light of the ripple effect of TV dramas, drama role model and indirect experience increase entrepreneurial intention, so it was possible to predict its influence on changes in perception of start-ups and entrepreneurs.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.1
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• pp.253-270
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• 2023

Research on investment determinants of accelerators, which are attracting attention by greatly improving the survival rate of startups by providing professional incubation and investment to startups at the same time, is gradually expanding. However, previous studies do not have a theoretical basis in developing investment determinants in the early stages, and they use factors of angel investors or venture capital, which are similar investors, and are still in the stage of analyzing importance and priority through empirical research. Therefore, this study verified for the first time in Korea the discrimination and effectiveness of investment determinants using accelerator investment determinants developed based on the business model innovation framework in previous studies. To this end, we first set the criteria for success and failure of startup investment based on scale-up theory and conducted a survey of 22 investment experts from 14 accelerators in Korea, and secured valid data on a total of 97 startups, including 52 successful scale-up startups and 45 failed scale-up startups, were obtained and an independent sample t-test was conducted to verify the mean difference between these two groups by accelerator investment determinants. As a result of the analysis, it was confirmed that the investment determinants of accelerators based on business model innovation framework have considerable discrimination in finding successful startups and making investment decisions. In addition, as a result of analyzing manufacturing-related startups and service-related startups considering the characteristics of innovation by industry, manufacturing-related startups differed in business model, strategy, and dynamic capability factors, while service-related startups differed in dynamic capabilities. This study has great academic implications in that it verified the practical effectiveness of accelerator investment determinants derived based on business model innovation framework for the first time in Korea, and it has high practical value in that it can make effective investments by providing theoretical grounds and detailed information for investment decisions.