• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.19 no.3
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• pp.155-172
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• 2024

The COVID-19 pandemic not only posed an enormous human crisis, but also had a profound impact on firms' survival. Social distancing and global lockdown measures designed to protect human lives have paradoxically impaired the business environment. As a result, firms that sought to gain competitive advantage by leveraging external resources were cut off from the external world and faced unexpected challenges. Under these circumstances, researches were conducted in the early stage of the pandemic to explore how certain firms survived while others fell, but they were limited to re-examining business performance using traditional financial factors. However, this study aims to investigate the role of entrepreneurs' competency in crisis situations from the Resource-Based View (RBV), as such competency plays an important role in improving business performance and subsequently the probability of startups' survival. Specifically, we evaluated the performance as of end of 2019 of 1,127 startups evaluated by the Korea Technology Finance Corporation (KOTEC), which provides policy financing based on technology assessment, in 2016. We then conducted an empirical study to determine the mediating role of business performance in the relationship between entrepreneurial competencies and firm survival by verifying how many of the sample firms were still in operation at the end of June 2023, when the Korean government declared COVID-19 as an endemic. For this purpose, we defined technological, financial, and marketing competencies as the sub-factors of entrepreneurial competency, and sales growth rate and employment growth rate as the sub-factors of business performance. The results of the empirical analysis showed that technological and financial competencies of the entrepreneur had a positive impact on both business performance and firm survival, and that sales growth rate and employment growth rate mediated the relationship between technological competence and firm survival. However, the positive influence of entrepreneurs' financial competence of the survival of startups was only evident through the growth of employment. This study is the first study in South Korea to define the survival factors of startups in the context of the COVID-19 pandemic, and is expected to contribute to the theoretical and practical discussions on the importance of entrepreneurs' competency as a firms' survival factor based on RVB.

• Management & Information Systems Review
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• v.3
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• pp.419-438
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• 1999

Following is an idea to utilize the business ethics as one of business administration strategies. Firstly, conversion of perception is needed in the business administration. Neglecting the pursuit of profit, the conventional strategic goal, is not desirable, we need to, however, have a mind that the consumer and environment centered mind is indispensible to the survival and growing of a business ultimately in establishing a strategic goal of diversified environmental changes. Secondly, conversion of the Chief Executive Officer (CEO)'s attitude in business administration is needed. It is necessary for the CEO to have a strong belief that the business ethics is indispensible to the survival and growing of a business by way of fair and logical management. Therefore the business ethics should be improved since the CEO's ethics can be the standard of his business. Thirdly, the business concerned parties should be considered. The realization of business ethics should be done in a certain way so as to protect the benefit of the all concerned parties such as stockholders. employees, consumers, suppliers, competitors, the local community, etc., since a business is an organization that can exists and grows only in the coexistence with its environment and concerned parties. Fourth, the business ethics should be transformed into a business culture through the enlargement of the general principles of and of employees' behavior as a management strategy. Lastly, business ethics should be improved through continuous evaluations to accommodate its environmental change.

• Asia-Pacific Journal of Business
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• v.12 no.1
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• pp.25-39
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• 2021

Purpose - This study aims to examine whether family firm governance is related to long-term corporate survival. To find out whether and why family firms have higher chances of long-term survival compared to non family firms, this study analyzes the relationship between some governance characteristics that are prevalent in family firms and corporate long-term viability. Design/methodology/approach - This study utilizes a sample of 285 family firms listed on the Korea Stock Exchange (KSE) to probe the influence of governance characteristics on corporate survival. This study conducts Cox proportional hazard regression analysis to estimate the influences on the survival duration. Findings - The results indicate that firms with particular governance characteristics show higher long-term survivability. Specifically, the probability of firm's long-term survival is increased when the CEO is the largest shareholder, which may be related to CEO's stewardship attitudes. Research implications or Originality - This study has significance in that it examines the direct causal variables that enhance long-term corporate viability through a large scale empirical examination. Also, the study findings provide some clues as to why certain family firms outlive non-family firms.

• Journal of the Korea Safety Management & Science
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• v.11 no.4
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• pp.261-267
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• 2009

The purposes of this article is to analyse how market competition of credit card company affect price(interest rate) and survival length of card users. This paper uses individual account data from a large Korean credit card company during the periods from 2002 to 2006. The findings of our study are as follows. First, market competition of credit card company have a negative effect with interest rate of credit card. Second, market competition of credit card company have a affirmative effect with survival length. Finally, The effect of Increasing delinquency rate due to price increase is smaller than decreasing delinquency rate due to extending survival length.

• Journal of Dairy Science and Biotechnology
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• v.36 no.4
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• pp.220-225
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• 2018

The purpose of this study was to investigate the effect of ultrasonic treatment during probiotics production process on the shelf life and the survival rate. Once Lactobacillus plantarum and Bifidobacterium longum were cultured in edible culture medium, ultrasonic treatment was performed at 100 Hz for 1, 2, 5, 7, and 10 minutes. Ultrasonic-treated L. plantarum HY7715 and B. longum HY8001 were centrifuged, mixed with a cryoprotectant, and lyophilized. The prepared lactic acid bacteria powder was individually packaged. After 6 months, viable cell counts were measured separately under cold storage and room temperature. In vitro digestion experiments were performed to determine the survival rate at digestive tract. As a result, it was observed that shelf life and survival rate were increased compared to untreated control group.

• Korea Trade Review
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• v.46 no.3
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• pp.65-79
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• 2021

This paper investigates how corporate governance characteristics are related to long-term corporate survival in an emerging economy. We used the data of 311 companies listed on the Korean Stock Exchange (KSE) in 1979 and examined the survival chances of those companies through the IMF crisis in 1998, upon governance characteristics that are expected to increase long-term strategic orientations. We utilized Cox regression model for the analysis. The results indicate that firms with particular governance characteristics that may be tied to CEO's long-term orientations show higher long-term survivability. Specifically, the probability of a firm's long-term survival is increased when founding family ownership is sustained, the company ownership is concentrated, and the CEO is the largest shareholder. This study has significance in that it is one of initial tries to examine the impact of corporate governance on long-term corporate survival with large scale statistical analysis. Also, the study findings provide some clues as to why the portion of family firms in emerging economies is continuously increased, thus providing meaningful insights to corporate governance literature.

• Land and Housing Review
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• v.13 no.2
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• pp.91-115
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• 2022

This study examines changes in business survival rates in a gentrified commercial district by comparing early movers with late entrants. Using the Hongik University Commerical District, or Hongdae, as a case study, we adopt discrete-time survival analysis to compare survival rates between businesses established before 2000 (early movers) and ones established after 2000 (late arrivers). We compare the business survival patterns in a gentrified commercial district (experimental group) to non-gentrified commercial districts (control group) in Mapogu. We examine a survival-rate difference between early movers and late arrivers by different industrial categories. We finally examine a survival-rate gap between franchise and non-franchised businesses. The results show that the early movers have lower survival rates than the late arrivers in the gentrified Hongdae area, whereas there is no significant difference in survival rates between the early movers and the late arrivers in Mapogu. The early movers in daily-life-supporting businesses in Mapogu have even higher survival rates than the late-arrivers. In addition, franchised businesses have higher survival rates than non-franchised stores both in Hongdae and Mapogu. The results provide statistical and comprehensive evidence of the displacement of early movers at a more rapid pace in gentrified areas than non-gentrified aveas, which has been an anecdotal narrative.

• Journal of the Korean Operations Research and Management Science Society
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• v.28 no.3
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• pp.1-30
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• 2003

This study attempts to understand factors influencing the persistence of companie's outsourcing arrangements using the techniques of survival analysis. It provides an insight into the dynamics of outsourcing relationships between clients and vendors. This is particularly relevant considering that current IS sourcing arrangements are strategic and long term, and require close interdependent relationships between the client and the vendor.

• Journal of the Korean Operations Research and Management Science Society
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• v.39 no.4
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• pp.51-69
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• 2014

Times to multiple events (TMEs) are a major data type in large-scale business and medical data. Despite its importance, the analysis of TME data has not been well studied because of the analysis difficulty from censoring of observation. To address this difficulty, we have developed a Bayesian-based multivariate survival analysis method, which can successfully estimate the joint probability density of survival times. In this work, we extended this method for the analysis of precedence, dependency and causality among multiple events. We applied this method to the electronic health records of 2,111 patients in a children's hospital in the US and the proposed analysis successfully shows the relation between times to two types of hospital visits for different medical issues. The overall result implies the usefulness of the multivariate survival analysis method in large-scale big data in a variety of areas including marketing, human resources, and e-commerce. Lastly, we suggest our future research directions based multivariate survival analysis method.

• Knowledge Management Research
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• v.20 no.4
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• pp.131-148
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• 2019

E-commerce in Korea has grown steadily in recent years. E-commerce has provided firms with an effective method to approach potential customers by overcoming geographical and physical barriers. However, despite the rapid growth, many e-commerce businesses closed their businesses and were not able to survive. This study aims to empirically examine the factors that determine the survival of e-commerce businesses in Korea. In particular, this study focuses on the factors related to the notion of institution-based trust that includes delivery, privacy, and security management. This research used the data set about 31,295 e-commerce businesses that have been registered in Seoul. We found that the e-commerce business that does not require extra personal information beyond the standard terms and conditions or provides a feedback mechanism by having an online board to submit a complaint has a higher chance of survival. In addition, the e-commerce business that has a secured web server, shows the specific information about the date of delivery, or provides escrow services is likely to survive longer than others. The research has extended the extant literature on the importance of trust in e-commerce by empirically examining the effects of the institution-based trust factors on the actual survival of e-commerce businesses.