• Journal of Venture Innovation
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• v.7 no.1
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• pp.17-39
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• 2024

The purpose of this study was to analyze the effect of the government's R&D support and the use of stock options by venture companies on the innovation of venture companies, that is, innovation capabilities and innovation performance. An empirical analysis was conducted using the partial least squares structural equation modeling (PLS-SEM) method using the data from the detailed survey of venture companies conducted on domestic venture confirmation companies. As a result of the analysis, it was found that the benefit of government R&D support had a positive (+) effect on strengthening the innovation capabilities of venture companies, and R&D support also had a positive (+) effect on the innovation performance of venture companies. Next, it was found that the use of stock options by venture companies had a positive (+) effect on the reinforcement of the innovation capabilities of companies and a positive (+) effect on the innovation performance of venture companies. In addition, it was found that the innovation capabilities of venture companies significantly mediate between the government's R&D support and the use of stock options by venture companies and the innovation performance of companies. These analysis results show that the government's R&D support and the use of stock option systems can play a meaningful role in the innovation of venture companies, and also show that the innovation capabilities of venture companies have an important meaning in the process of innovation. Therefore, it is necessary to continue the stance of R&D support for ventures and at the same time to introduce multi-faceted policy measures to support corporate capacity building, and legal and institutional maintenance and policy support to revitalize the stock option system need to be continuously provided.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.1
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• pp.237-251
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• 2023

This study tried to understand the effect of internal resources, capabilities, and business model innovation of venture enterprises on industrial property performance, as based on previous studies that securing industrial property rights has a positive effect on the technology commercialization of venture companies. Venture company capabilities were classified into intrinsic elements of a company (company's research resources) and creative elements (commercialization capabilities) that implement them, and they were intended to show that they could lead to a company's potential competitiveness through innovation in business models. In order to verify this research purpose, an empirical analysis was conducted on 1,733 corporate companies among venture confirmation companies subject to the 2019 venture company precision survey. It was confirmed that the systematic research organization and commercialization capabilities of venture companies were significant (+) in industrial property performance. However, in the final research model that applied both the rules of the business model's innovation variable, commercialization capability and business model innovation were significant (-), and research organization × business model innovation showed significant results (+). This means that venture companies' excellent resources and capabilities can have a positive impact on industrial property performance individually, but when applying the level of innovation in the actual business model, they must interact with the business model. The results of this study are meaningful in that it is necessary to pursue business model innovation that secures clear differentiators compared to competitors as well as strengthening the company's internal resources and capabilities to secure industrial assets and innovation growth.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.12 no.5
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• pp.89-99
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• 2017

Although the technological innovation activities have depended on corporate, organizational and personal capabilities and activities, innovation resistance to practice was not actively considered in previous studies. This study is intended to the effects of corporate technology innovation capabilities and activities on intra-organizational innovation resistance and performance by compensating the limit of previous studies. To achieve this, a survey was empirically carried out to 293 domestic IT and BT companies. First, technological innovation competencies had a positive effect on technological innovation resistance, adopting hypothesis 1. Second, technological innovation activities had no positive effect on technological innovation resistance, rejecting hypothesis 2. Third, technological innovation resistance had a positive effect on technological innovation performance, adopting hypothesis 3. Fourth, technological innovation resistance was positively mediated in the relationship between technological innovation competencies and technological innovation performance, adopting hypothesis 4. Fifth, technological innovation resistance was not positively mediated in the relationship between technological innovation activities and technological innovation performance, rejecting hypothesis 5. Overall, the higher technological innovation competencies had a significant effect on technological innovation resistance. Consequently, technological innovation resistance can improve or reduce technological innovation competencies and performance depending on the level of resistance.

• Proceedings of the Technology Innovation Conference
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• 1999.06a
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• pp.266-289
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• 1999

With the globalization trend in S&T activities, Korean research organizations have begun to utilize foreign researchers. The performance of foreign researchers is generally regarded satisfactory, but there are many problems too. Moreover, there has not been any research carried out even though there is a growing need for the management of foreign researchers. This paper identified the performance / motivation factors of foreign researchers in Korean research organizations. The statistical results show that the efforts and research capabilities are the most important variables for performance of foreign researchers in Korean research organization. In addition, it is found out that university shows higher performance than government research institute and corporate research organization while it pays the least to the foreign researchers. It is interesting to see that the level of monetary payment is not strongly related with the performance of foreign researchers. In order to utilize the full potential of foreign researchers, it is necessary to enhance the living infrastructure. In addition, due attention should be given to the managerial capabilities of R&D administrators and evaluation/incentive systems of foreign researchers in Korean research organizations.

• Journal of the Korean Society of Costume
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• v.66 no.8
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• pp.109-122
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• 2016

This study is to explore the ways to increase the export performance of start-up companies, as opportunities are rising along with more companies entering the global market. Thus the study analyzed the factors affecting export performance of the start-up company by mainly looking at the international marketing capabilities of enterprises type of marketing strategy and internal environmental capabilities. The following were derived as factors for marketing 4P strategy: innovation of product, flexibility of export price, differentiation of distribution channels, diversity of promotional activities, and positive-ness of promotion. For internal capabilities of enterprises, innovation of CEO, initiative of CEO, risk susceptibility of CEO, information power of export market, and information power of competitor were derived as factors. Two types of performances were considered for export performance, financial and non-financial. Among innovation of product and risk susceptibility of CEO the non-financial performance of export performance, and only differentiation of distribution channels of marketing 4p strategy the financial performance. It showed that since performance was different depending on the entrepreneurship of the CEO, only innovative products differentiated from small and medium enterprises. risk susceptibility of CEO increased export outlook by corporate acknowledgment and image, creation of potential customers, and financial performance affected only differentiation in distribution channel rather than entrepreneurial spirit, information power, or organizational flexibility because of short business career and insufficient period enough to gain trust. Therefore, start-up companies need to improve their non-financial export performance by increasing innovation of product and risk susceptibility of the CEO. The companies need to widen the differentiation of distribution channels in the financial export performance.

• 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 Technology Innovation
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• v.31 no.3
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• pp.201-230
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• 2023

The Innovation Procurement Policy was introduced as part of the strategic public procurement policy to improve firms' innovation capabilities and enhance the public sector's ability to solve social problems by designating and purchasing so-called 'innovative products.' The pilot procurement project for innovative products was first introduced in 2019, and the policy system for designating and discovering innovative products by government departments, as well as the priority purchase system, was established in 2020. Hence, this study conducted a quantitative analysis focusing on the effectiveness of the innovation procurement system in supporting firms after it was fully implemented. For this purpose, corporate financial and employment data from 2017 to 2021 were used, and propensity score matching(PSM) and difference-in-difference(DID) methods were utilized as analytical tools. The study found that the innovation procurement system contributed to corporate growth and employment and created additional public and private sales channels. Moreover, it is necessary to enhance the innovation procurement system, such as matching innovative product-producing companies with existing SME support policies, for companies to become self-sustaining after the innovative product designation ends.

• Journal of Digital Convergence
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• v.18 no.11
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• pp.87-97
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• 2020

This study summarized longevity factors of enterprises and presented longevity mechanism. By analogy of human aging and corporate longevity, the company's decline and longevity phenomenon were analyzed to derive corporate longevity mechanism, presented domestic and foreign longevity enterprises' cases study using above mechanism. The longevity mechanism first, as the human body restricts free radicals by dietary restrictions, companies also need continuous input efficiency. Second, as cognitive reserve by high thinking activities helps heath lifespan, companies can strengthen their profitability by continuous R&D. Third, as humans improve antioxidant functions by exercise, companies should develop risk management capabilities for environmental changes. This study can contribute to sustainable strategies for corporate managers, ultimately plan to suggest model of evaluation or diagnosis of corporate longevity.

• Journal of Digital Convergence
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• v.19 no.11
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• pp.235-246
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• 2021

This study analyzed the effects of SMEs' open innovation capabilities and organization capabilities to lead these innovations on corporate performance. For this purpose, an empirical analysis was conducted targeting 250 small and medium-sized enterprises(SMEs) employee. The empirical study results are as follows. Absorptive capability, relational capability, CEO's innovativeness, employee's innovativeness, and decision-making openness had a significant positive (+) effect on the non-financial performance of SMEs. It was analyzed that multiplicative capability did not significantly affect non-financial performance. On the other hand, absorptive capability, relational capability, CEO's innovativeness, and decision-making openness had a significant positive (+) effect on the financial performance of SMEs. It was analyzed that multiplicative capability and employee's innovativeness did not significantly affect financial performance. Decision-making openness and absorptive capability were analyzed as factors that have an most important influence on a company's financial and non-financial performance. Based on these research results, academic and practical implications were presented.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.5
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• pp.31-47
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• 2021

The purpose of this study is to demonstrate the moderating effect of technology development activities in the relationship between independent variables such as entrepreneurial orientation and technology innovation capabilities and dependent variables. As a result of analyzing the causal relationship between research variables, it was found that the higher the innovation and initiative among the sub-factors of entrepreneurial orientation, the more positive the technical commercialization performance and product completion. Among the sub-factors of entrepreneurial orientation, risk-taking was found to have a significant effect only on product completion. It was found that the higher the technology commercialization capability and technology convergence capability, the higher the technology commercialization performance, the technology commercialization performance. As a result of analyzing the moderating effect of technology development activities, it was found that technology development management ability, a sub-factor of technology development activities, controls the influence relationship between innovation and risk sensitivity and technology performance. In addition, it was found that the involvement in technology development planning controls the influence relationship between technology convergence capability and technology performance among sub-factors of technology innovation capability. Based on the above analysis results, this study made three suggestions as follows. First, the achievements of technology commercialization to achieve the superiority of corporate competition depend on progressive innovation and risk-taking based on entrepreneurial orientation. It is necessary to find a way to build entrepreneurial orientation from within the organization. Second, due to the nature of the ICT industry, which has a fast pace of technological development and changes in market acceptance, technology commercialization performance will be positive when the capabilities, technology, knowledge, and resources that can quickly lead to product production can be organically linked. Finally, corporate CEOs need to further promote innovation and risk-taking through phased and continuous research activities for technology development. In addition, it is necessary to establish a corporate culture that tolerates various strategies and failures so that understanding of technology convergence can lead to technological performance.