• Journal of Technology Innovation
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• v.12 no.1
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• pp.241-269
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• 2004

Online game business has emerged as the most lucrative entertainment industry, with over 10 million players in South Korea. The popularity of online games can be attributed to the availability of broadband network and the presence of numerous PC Bangs and around the country, which have pushed online games into the mainstream entertainment culture. The age distribution of online game players is expanding and a variety of new games are under development to target certain age groups. While the interactive entertainment market continues to expand, with many new online game publishers entering the market, relatively little is known about which factors influence online game players' behavioral intentions to play continuously n this area. It appears that in this extremely attractive and growing services segment, academics, as well as practitioners, would benefit from investigating the relationships among the players' intentions to play, flow, and the impacts of several other key game-related constructs n consumer behavioral intentions. Several types of interaction in on-line games and their relationship with the flow construct are investigated, and the resulting conceptual model is proposed. Based on data collected from online questionnaire survey, the validity of the simultaneous equation model has been tested and interesting conclusions have been developed concerning the relationships between the players' behavioral intentions to play, flow, and interactions. Other interesting results concerning game development strategy are also provided.

• Proceedings of the Technology Innovation Conference
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• 2001.06a
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• pp.117-130
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• 2001

R&D is the core competence of an enterprise. Furthermore, R&D requires huge capital investment and has very risky characteristics. Therefore, to be successful in R&D process, several approaches of engineering economics are used prior to decision-making. Until now, typical approaches of engineering economics such as NPV(net present value) or DCF(Discounted cash flow) have been used. But, they cannot properly capture managerial flexibility to adapt and revise later decisions in response to unexpected market development. In a constantly changing and always uncertain marketplace, managerial operation flexibility and strategic adaptability have become vital in order to successfully capitalize on favorable future investment opportunities and limit losses from adverse market development. For the alternatives of conventional static decision-making approaches, new concept of using real options is introduced. Real option theory is based on financial option's characteristics and checks every revision interval whether situation have changed favorable to decision maker or not. In advantageous situation, the decision maker has only to go on. In contrast, with unfavorable situation, he abandons the investment immediately. In this aspect, real option model is more suitable in very uncertain and dynamic business environment in that it can provide the opportunity to cope with flexibility. This paper suggests efficient and effective R&D investment strategy by using real options model. In addition, this paper compares financial options and real options.

• Journal of Venture Innovation
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• v.6 no.4
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• pp.1-21
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• 2023

This study is related to the performance of open innovation collaboration between startups and large corporations and financial institutions. In the life cycle of a typical company, the growth of a startup is difficult to predict. Startups that possess innovative technology but have only recently been established seek to verify their technology and capabilities by participating in open innovation with large corporations and financial institutions, and further strive to lay the foundation for corporate growth. However, if you approach it only as a theoretical coexistence plan, it will be viewed as a vague attempt from the startup's perspective. The purpose of this study is to differentiately verify the benefits of open innovation by analyzing the difference in sales growth of startups for the purpose of sales performance based on the open innovation participation of large companies and small and medium-sized companies(startups). In verifying this, the analysis was based on the sales results of the actual open innovation collaboration B2C model, and the difference was confirmed by comparing before and after collaboration. Here, the differentiation of the study was added by reflecting the corporate growth stage theory, a growth theory. When the corporate growth stage theory was excluded, it was confirmed that sales growth due to open innovation of startups was applied from the third month, and sales growth depending on participation was confirmed to be significant. On the other hand, when the corporate growth stage theory was applied, sales growth was not significant, but the difference in growth could be confirmed from the fourth month, and it was also confirmed in sales growth depending on participation. As a result, this study objectively confirms the effects that can be gained when startups participate in Open-innovation, and it is expected that Open-innovation led by large corporations, financial institutions, and government agencies will develop into a high-quality program environment.

• Journal of Service Research and Studies
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• v.12 no.4
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• pp.139-163
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• 2022

This study analyzes the past and present of service science research as a central discipline that will lead a new economy and society, and presents a guide for future research. In the 21st century, service research has developed into a new discipline that is different from the existing service studies. Service science is a discipline that collectively refers to all research related to services. This study analyzes this development process and suggests the direction of future service science research. First, we analyze the research before the birth of service science, an early model of service studies. And the early research on the birth of service science is analyzed. Through this process, the service science framework that expanded and developed the initial service science is analyzed. We introduce each field of service science, which is a new innovation of the existing academic system from a modern perspective, and analyzes the structure of the service philosophy that is the basis of independent academic fields. And we suggest the future direction of service science research. The direction of paradigm innovation research of existing individual disciplines is presented first. As an example, innovation from existing business administration to service business administration is introduced. We also suggest a new economic and social system research direction that requires the convergence of multiple academic fields. Finally, we present a direction for multidimensional, broad-based convergence research. We suggest that the future of service science can be the process of reverting back to integration and convergence, centered on humans and the world, of the disciplines that have continued to diverge in the history. We present a model in which all disciplines are reintegrated into service science as the Eastern and Western spirits converge.

• Information Systems Review
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• v.19 no.4
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• pp.63-85
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• 2017

Recent information technology achieves remarkable progress in almost all areas where it can be applied. However, this technology also causes technostress, such as fear and pressure to individuals, due to events, such as the threat of job loss. This technostress is becoming an important factor that can affect user performance and productivity in future society where information technology will be the focus. This kind of stress should be studied considerably in academic and practical applications. The effects of technostress on individual performance remain ambiguous. Therefore, academic research is needed to prove these effects. This study aimed to clarify the direct and indirect effects of technostress on information technology end-users. We developed a research model that integrates innovation resistance and technostress theory through previous studies and analyzed the questionnaire of 317 people. The PLS structural equation model and the study results of Baron and Kenny (1986) indicated that rapid change, connectivity, reliability, and complexity are crucial factors affecting the technostress of information technology. Technostress was analyzed indirectly only through innovation resistance, which affected the performance of end-users. This study will provide new implications for the relationship between technostress and performance or productivity in the IS field.

• The Journal of the Korea Contents Association
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• v.14 no.5
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• pp.309-321
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• 2014

Existing research indicates that job design influences not only a worker's psychological well-being but also the individual and organizational performance. This study has been motivated by the need to provide useful implications for increasing the efficiency of business operations. The purpose of this research is to investigate the relationships between job characteristics and performance factors in the domestic financial industry. The conceptual framework has been developed based on Hackman & Oldham's job characteristics model and the related literature. We conducted a survey of employees in the domestic financial firms to test the conceptual model and hypotheses, and analyzed the data using the structured equation modeling method. The results of the empirical analysis indicate that the variety and autonomy of a job positively affect corporate innovation, confidence, and job satisfaction and that corporate innovation and job satisfaction positively influence job commitment. This research designed to examine the relationship between job characteristics and organizational performance will make a contribution to the improvement of business efficiency in our society.

• Journal of Korea Technology Innovation Society
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• v.16 no.1
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• pp.303-322
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• 2013

A relevance of supporting business of technology financing for technologically innovative SMEs is strongly required for its continuous expansion and development. This study analyzes empirically whether the selection of recipient firms from technology financing have been performed in accordance with its objectives and purposes. Results show that the probability of receiving technology financing is more likely to increase with higher technology rankings and higher operating income ratio. On the other hand, the probability of obtaining financing might be decreased gradually, as the size of capital and age of the firm are increasing. Results also show that technology rankings and firm's major characteristics are found to affect significantly on the decision-making of technology financing. Several useful comments are suggested to improve the relevance of the technology financing since the correct classification rate, which explains the appropriateness of the model, is not at high level. In addition, technology rankings are not uncorrelated with the amount of financing in regression analysis. These research results will contribute to ensure the appropriateness and credibility of the technology financing decision-making.

• Journal of Korea Technology Innovation Society
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• v.9 no.4
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• pp.812-841
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• 2006

Previous studies have shown that the ex-ante financial ratios, mainly used by financial institutions for loan evaluation purpose, are related to the ex-post finn's performance of venture firm's. The main objective of this study is to examine whether non-financial variables such as 'technology', 'marketability', and 'other business indexes' have extra explanatory power in forecasting the ex-post firm's performance of small and medium size venture firm's in Korea. The implications and results of this study are expected to be useful in loan evaluation, investment decision and internal management decisions of venture firms. Among small and medium sized manufacturing firms funded in the year of 1999 through 2005, 416 firms are selected for our analysis. The relationship between evaluation indexes and firm's success/failure is investigated using binary logistic regression analysis and factor analysis with an aid of SPSS program. The summarized results are as follows. First, current evaluation model, used for loan evaluation purpose for small and medium size manufacturing firms show the same discriminatory power as previous prediction model. Second, among the tested additional variables, significant indices are 'technological capability of CEO', 'managerial capability of CEO', and 'business feasibility'. Third, while previous studies on evaluation structure had 3 factors, this study showed that valuation's structure has 6 factors.

• Korea Trade Review
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• v.48 no.3
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• pp.243-262
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• 2023

This study provides a systematic review of smart trade contracts, examining the research trends and theoretical background of utilizing smart contracts and blockchain technology for the digitalization and automation of trade contracts. Smart trade contracts are a concept that applies the automated contract system based on blockchain to trade-related transactions. The study analyzes the technical and legal challenges and proposes solutions. The technical aspect covers the development of smart contract platforms, scalability and performance improvements of blockchain networks, and security and privacy concerns. The legal aspect addresses the legal enforceability of smart contracts, automatic execution of contract conditions, and the responsibilities and obligations of contract parties. Smart trade contracts have been found to have applications in various industries such as international trade, supply chain management, finance, insurance, and energy, contributing to the ease of trade finance, efficiency of supply chains, and business model innovation. However, challenges remain in terms of legal regulations, interaction with existing legal frameworks, and technological aspects. Further research is needed, including empirical studies, business model innovation, resolution of legal issues, security and privacy considerations, standardization and collaboration, and user experience studies to address these challenges and explore additional aspects of smart trade contracts.

• Journal of Information Technology Services
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• v.20 no.5
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• pp.89-104
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• 2021

Food delivery service combined with IT technology and HMR (Home Meal Replacement) are rapidly growing due to the COVID-19. Recently, the demand for salads along with HMR has increased among office workers in their 20s and 30s who are interested in health and beauty. Freshcode is a food startup with 6 years of experience that started selling salad products through O2O service. Freshcode applied for a patent for a service that collects orders from nearby areas and delivers them on the same day to a designated delivery address 'FCOSPOT' to save shipping costs. In March 2021, in recognition of the growth potential of the regular delivery service, Freshcode received an investment of 6 billion won in Series A. This study may have practical implications to early-stage startups and scale-up stage startups through a longitudinal case study on the growth of a single company. As for the research method, the lean startup methodology and lean canvas were used in the early stage of startup. In particular, the process of the build-measure and learn feedback-loop, which is the core of lean startup methodology, was applied to each major decision-making step. In the scale-up stage after 5 years, the business model canvas was used to schematize the growth as a food online O2O platform to verify continuous innovation. This case study has three main findings. First, the idea of 'FCOSPOT' was successfully implemented through the Lean Startup methodology. Second, Freshcode demonstrated the scalability of the differentiated business model of shared base delivery O2O. Third, a key factor of success was the digital integrated communication operation strategy that maximizes the experience for the created customers.