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An Empirical Study on the Failure Factors of Startups Using Non-financial Information (비재무정보를 이용한 창업기업의 부실요인에 관한 실증연구)

  • Nam, Gi Joung;Lee, Dong Myung;Chen, Lu
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.14 no.1
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    • pp.139-149
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    • 2019
  • The purpose of this study is to contribute to the minimization of the social cost due to the insolvency by improving the success rate of the startups by providing useful information to the founders and the start-up support institutions through analysis of non-financial information affecting the failure of the startups. This study is aimed at entrepreneurs. The entrepreneurs that are defined by the credit guarantee institutions generally refer to entrepreneurs within 5 years of establishment. The data used in the study are sampled from the companies that were supported by the start-up guarantee from January 2014 to December 2013 as the end of December 2017. The total number of sampled firms is 2,826, 2,267 companies (80.2%), and 559 non-performing companies (19.8%). The non-financial information of the entrepreneur was divided into the entrepreneur characteristics information, the entrepreneur characteristics information, the entrepreneur asset information and the entrepreneur 's credit information, and cross-tabulations and logistic regression analysis were conducted. As a result of cross-tabulations, univariate analysis showed that personal credit rating, presence in the industry, presence of residential housing, presence of employees, and presence of financial statements were selected as significant variables. As a result of the logistic regression analysis, three variables such as personal credit rating, occupation in the industry, and presence of residential house were found to be important factors affecting the failure of founding companies. This result shows the importance of entrepreneur 's personal credibility and experience and entrepreneur' s assets in business management. The start-up support institutions should reflect these results in the entrepreneur 's credit evaluation system, and the entrepreneurs need training on the importance of the personal credit and the management plan in the entrepreneurial education. The results of this analysis will contribute to the minimization of the incapacity of startups by providing useful non-financial information to founders and start-up support organizations.

Performance assessment of an urban stormwater infiltration trench considering facility maintenance (침투도랑 유지관리를 통한 도시 강우유출수 처리 성능 평가)

  • Reyes, N.J. D.G.;Geronimo, F.K.F.;Choi, H.S.;Kim, L.H.
    • Journal of Wetlands Research
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    • v.20 no.4
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    • pp.424-431
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    • 2018
  • Stormwater runoff containing considerable amounts of pollutants such as particulates, organics, nutrients, and heavy metals contaminate natural bodies of water. At present, best management practices (BMP) intended to reduce the volume and treat pollutants from stormwater runoff were devised to serve as cost-effective measures of stormwater management. However, improper design and lack of proper maintenance can lead to degradation of the facility, making it unable to perform its intended function. This study evaluated an infiltration trench (IT) that went through a series of maintenance operations. 41 monitored rainfall events from 2009 to 2016 were used to evaluate the pollutant removal capabilities of the IT. Assessment of the water quality and hydrological data revealed that the inflow volume was the most relative factor affecting the unit pollutant loads (UPL) entering the facility. Seasonal variations also affected the pollutant removal capabilities of the IT. During the summer season, the increased rainfall depths and runoff volumes diminished the pollutant removal efficiency (RE) of the facility due to increased volumes that washed off larger pollutant loads and caused the IT to overflow. Moreover, the system also exhibited reduced pollutant RE for the winter season due to frozen media layers and chemical-related mechanisms impacted by the low winter temperature. Maintenance operations also posed considerable effects of the performance of the IT. During the first two years of operation, the IT exhibited a decrease in pollutant RE due to aging and lack of proper maintenance. However, some events also showed reduced pollutant RE succeeding the maintenance as a result of disturbed sediments that were not removed from the geotextile. Ultimately, the presented effects of maintenance operations in relation to the pollutant RE of the system may lead to the optimization of maintenance schedules and procedures for BMP of same structure.

The Effects of the High-tech Manufacturing Ventures' External Collaborations on the Management Performance: Focusing on the Mediation Effect of Internal Core Competencies (첨단제조 벤처기업의 외부적 협력활동 경험이 경영성과에 미치는 영향에 관한 연구: 내부 핵심역량의 매개효과를 중심으로)

  • Lee, Younghun;Song, Eugene
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.16 no.6
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    • pp.69-84
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    • 2021
  • As industrial structural changes in the 4th Industrial Revolution have recently led to the need for fostering high-tech industries and high-tech manufacturing industries have been showing high value-added creation, the importance of high-tech manufacturing ventures has increased a lot as well. As a result of this, the government is actively supporting and fostering them. However, it appears that high-tech manufacturing ventures seem to have a lot of difficulty in securing competitive advantages due to the lack of internal core competencies and experience in the rapidly changing international economic conditions. In order for high-tech manufacturing ventures to strengthen internal core competencies, external collaborations with other companies or institutions which have diverse experience, technology skills and abundant resources are actively promoted. Accordingly, based on resource-based theory and transaction cost theory, the authors analyzed the effects of the high-tech manufacturing ventures'external collaborations on internal core competencies and management performance in this study. In order to verify the hypothesis of this study, the 2020 data on"The Research on the Precision Status of Ventures'compiled by the Ministry of SMEs and Startups since 1999 were utilized. According to the results of this study, the experience of external collaborations had a positive impact on the internal core competencies and non-financial management performance, while there was no direct impact on financial management performance. Moreover, the relationship between the experience of external collaborations and management performance is mediated by the internal core competencies. Additionally, it was found that the internal core competencies positively affected both non-financial and financial management performances, and non-financial management performance again had a significant impact on the financial management performance. Finally, the experience of external collaborations had a positive impact on both development, manufacturing, and marketing factors forming the internal core competencies. However, the impacts of individual factors were different in the management performance. Development and marketing factors were shown to have a significant impact on both non-financial and financial management performance, while the manufacturing factor had a significant impact only on financial management performance.

Effects of Conflict Management Strategy Within Supply Chain on Partnership and Performance (공급망 내 갈등관리전략이 파트너십과 성과에 미치는 영향)

  • Ham, Yoon-Hee;Song, Sang-Hwa
    • Korean small business review
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    • v.42 no.1
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    • pp.79-105
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    • 2020
  • While individual enterprises with different objectives each other within supply chains require a variety of resources to achieve their own seeking goals and performances, it is necessary to form interdependent relationships among the enterprises to secure the resources what they need, as the individual enterprises are supposed to have limitations on such as time, space and cost to secure all the resources. In this process, conflict possibilities rise and opportunistic behaviors increase due to those environmental factors such as unbalanced information among enterprises, limited rationality, pursuit of interests, and risk aversion. Those existing studies on conflicts in the field of supply chains have limitations in that they failed to present specific conflict management strategies based on the conflict types from the perspective of the conflict resolution mechanism as the studies have made only focused on investigating the causes of conflicts and the impact of conflicts on performance. In this study, therefore, it used the TKI model of Kilmann and Thomas(1977) to subdivide the conflict management strategies in the process of transactions within supply chains by enterprises, and looked into the impact on partnership and performance according to each strategy. As the results, it showed that those types of conflict management strategies such as concession type and cooperation type had a positive(+) impact on the relationship commitment as a factor of partnership, and it was identified that the relationship commitment had a positive(+) impact on performance. In other words, it can be considered that the enterprises making use of the concession type & the cooperation type conflict management strategies under the situation of conflict would be able to have a very positive impact on their performances if they can make good relationship commitment such as investments in and efforts for the sustainable relationship along with the conflict management, while recognizing the importance of relationship. The most important meaning of this study lies on in terms of that it would be contributable to strengthening the partnership between enterprises and minimizing the risk of supply chains caused by conflicts through these results from the study.

Next Generation Lightweight Structural Composite Materials for Future Mobility Review: Applicability of Self-Reinforced Composites (미래모빌리티를 위한 차세대 경량구조복합재료 검토: 자기강화복합재료의 적용 가능성)

  • Mi Na Kim;Ji-un Jang;Hyeseong Lee;Myung Jun Oh;Seong Yun Kim
    • Composites Research
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    • v.36 no.1
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    • pp.1-15
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    • 2023
  • Demand for energy consumption reduction is increasing according to the development expectations of future mobility. Lightweight structural materials are known as a method to reduce greenhouse gas emissions and improve energy efficiency. In particular, fiber reinforced polymer composite (FRP) is attracting attention as a material that can replace existing metal alloys due to its excellent mechanical properties and light weight. In this paper, industrial applications and research trends of carbon fiber reinforced composites (CFRP, carbon FRP) and self-reinforced composites (SRC) were reviewed based on the reinforcement, polymer matrix, and manufacturing process. In order to overcome the expensive process cost and long manufacturing time of the epoxy resin-based autoclave method, which is mainly used in the aircraft field, mass production of CFRP-applied electric vehicles has been reported using a high-pressure resin transfer molding process including fast-curing epoxy. In addition, thermoplastic resin-based CFRP and interface enhancement methods to solve the recycling issue of carbon fiber composites were reviewed in terms of materials and processes. To form a perfect matrix-reinforcement interface, which is known as the major factor inducing the excellent mechanical properties of FRP, studies on SRC impregnated with the same matrix in polymer fibers have been reported. The physical and mechanical properties of SRC based on various thermoplastic polymers were reviewed in terms of polymer orientation and composite structure. In addition, a copolymer matrix strategy for extending the processing window of highly drawn polypropylene fiber-based SRC was discussed. The application of CFRP and SRC as lightweight structural materials can provide potential options for improving the energy efficiency of future mobility.

Analysis of the Economic and Environmental Effects of Upstream Carbon Tax: Focusing on the Steel Industry (상류부문 탄소세 도입의 경제적·환경적 효과 분석: 철강산업을 중심으로)

  • Dong Koo Kim;Insung Son
    • Environmental and Resource Economics Review
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    • v.32 no.1
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    • pp.47-75
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    • 2023
  • Compared to the EU, which legislates the Carbon Border Adjustment System (CBAM), the United States' carbon border adjustment policy movement is still relatively slow. Recently, however, a related bill has been proposed in the United States, and research institutes have been presenting research results on how to introduce an upstream carbon tax rather than an emission trading system and carry out carbon border adjustment based on it. Therefore, in this study, we looked at the economic and environmental effects of introducing this type of upstream carbon tax and carbon border adjustment in Korea. If an upstream carbon tax of KRW 30,000 per ton of CO2 is applied to the net supply of domestic fossil energy, the expected carbon tax revenue is approximately KRW 22.9961 trillion, equivalent to about 5.7% of the total revenue of the Korean government of KRW 402 trillion in 2019. In addition, the carbon dioxide content of the steel sector, calculated based on the energy supply and demand status of the steel sector, which emits the most greenhouse gas emissions in Korea and has a considerable amount of overseas exports, was 106.22 million tons of CO2. On the other hand, assuming that the upstream carbon tax of 30,000 won per ton of CO2 embodied is directly passed on to the production cost of the steel sector, the carbon tax burden in the steel sector is estimated to reach approximately KRW 3.1865 trillion. Even after deducting KRW 1.1599 trillion in export refunds estimated by using the share of exports of steel products, the net carbon tax burden on steel products for domestic demand amounts to KRW 2.0266 trillion, which is analyzed to act as a factor in increasing the price of steel products.

A Study on the Development of Environment Color Checklists for Senior Center Based on Characteristics of the elders (재가노인의 특성을 고려한 경로당 환경색채 체크리스트 개발)

  • Choi, Yerim;Park, Heykyung
    • Korea Science and Art Forum
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    • v.34
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    • pp.327-337
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    • 2018
  • Korea is rapidly becoming an aging society as much as it takes the first place among OECD countries, and as the life expectancy of Korea gradually increases, the proportion of the elders in society increases. Accordingly, the happiness of the elders is contributed to the overall social atmosphere and happiness, however, the lower quality of life of the elders due to physical, psychological and social changes can be developed into social problems such as depression and rising suicide rate. As a result, there is a social interest in improving the quality of life and satisfaction of the elders, and the senior citizen center is receiving renewed attention as a form of welfare facility that can play a pivotal role in the social activities of the elders. In recent years, efforts to improve the environment of the senior citizen center have been made due to the growing role of it, however, there is a controversy over whether the quality of the indoor environment is user-friendly or not due to the limitations of material resources and human resources. It is considered that the quality of the color environment should be improved in the senior citizen center in the way that the color environment is not only an indoor environmental factor which gives high psychological and mental effects to users but also a way to improve the environmental satisfaction at the lowest cost. Previous studies on the facilities related to the elders have been actively carried out, but they were very sporadic and there was very little information about the color environment in the related laws or in the guideline presented by cities. It is necessary to integrate guidelines that are scattered within a comprehensive range without any specific target in order to grasp the current status of the color environment and to properly evaluate it. In addition, considering that the senior citizen center is an important leisure facility for the elders that functions in a residential area with a nationwide network, the results of this study are expected to contribute to the environmental improvement of existing senior citizen center which will be activated in the future by enabling the improvement of psychological satisfaction of the elders.

The Effect of Elastic Band Exercise Training and Detraining on Body Composition and Fitness in the Elder (탄력밴드 운동이 노인의 신체조성과 체력에 미치는 지속적 효과)

  • So, Wi-Young;Song, Misoon;Cho, Be-Long;Park, Yeon-Hwan;Kim, Yeon-Soo;Lim, Jae-Young;Kim, Seon-Ho;Song, Wook
    • 한국노년학
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    • v.29 no.4
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    • pp.1247-1259
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    • 2009
  • Muscle mass is reduced by aging. There seems to be no direct relationship between sarcopenia(muscle loss) and medical cost in the elderly, but lowering muscle mass results in increase risk of fall and decrease of strength, fitness, physical activity, and independent life. This is coupled with physical trouble and chronic degenerative disease such as diabetes, obesity, hyperlipidemia, and hypertension. Thus, sarcopenia is potential risk factor increasing mortality. The purpose of this study was to investigate the effects of elastic band exercise and detraining on sarcopenia prevention related variables, body composition and fitness. The subject of this study was 60~70 aged 14 seniors who participated in exercise program in J-welfare senior center at J-gu in S-city. Elastic band exercise was performed twice per week for 12 weeks. The body composition and fitness variables were measured before 12 weeks of control, after control(before exercise), after 12 weeks of exercise(before detraining), and after 12 weeks of detraining. There was no significant difference in body composition and fitness variables before and after 12 weeks of control, but elastic band exercise before and after 12 weeks has effect on body composition variables such as weight (t=2.978, p=0.001), body mass index (t=3.502, p=0.004), percent body fat (t=2.216, p=0.045), muscle mass (t=-3.837, p=0.002), visceral fat area (t=5.186, p<0.001), and waist-hip ratio (t=3.045, p=0.009) and on fitness variables such as 2-minutes step (t=-6.891 p<0.001), arm curl (t=-4.702, p<0.001), chair stand (t=-4.860, p<0.001), chair sit and reach (t=-5.910, p<0.001), back scratch (t=-3.835, p=0.002), and 8-ft up and go (t=7.560, p<0.001). This exercise effect was continued after 12 weeks of detraining on body composition variables such as weight (t=2.323, p=0.037), body mass index (t=2.503, p=0.026), muscle mass (t=-3.137, p=0.008) and on fitness variables such as 2-minutes step (t=-6.489 p<0.001), chair stand (t=-4.694, p<0.001), chair sit and reach (t=-3.690, p=0.003), and 8-ft up and go (t=7.539, p<0.001). It was found that the elastic band exercise has positive effect on body composition and fitness in the elderly and the effect was maintained over 12 weeks of detraining.

Determinants Affecting Organizational Open Source Software Switch and the Moderating Effects of Managers' Willingness to Secure SW Competitiveness (조직의 오픈소스 소프트웨어 전환에 영향을 미치는 요인과 관리자의 SW 경쟁력 확보의지의 조절효과)

  • Sanghyun Kim;Hyunsun Park
    • Information Systems Review
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    • v.21 no.4
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    • pp.99-123
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    • 2019
  • The software industry is a high value-added industry in the knowledge information age, and its importance is growing as it not only plays a key role in knowledge creation and utilization, but also secures global competitiveness. Among various SW available in today's business environment, Open Source Software(OSS) is rapidly expanding its activity area by not only leading software development, but also integrating with new information technology. Therefore, the purpose of this research is to empirically examine and analyze the effect of factors on the switching behavior to OSS. To accomplish the study's purpose, we suggest the research model based on "Push-Pull-Mooring" framework. This study empirically examines the two categories of antecedents for switching behavior toward OSS. The survey was conducted to employees at various firms that already switched OSS. A total of 268 responses were collected and analyzed by using the structural equational modeling. The results of this study are as follows; first, continuous maintenance cost, vender dependency, functional indifference, and SW resource inefficiency are significantly related to switch to OSS. Second, network-oriented support, testability and strategic flexibility are significantly related to switch to OSS. Finally, the results show that willingness to secures SW competitiveness has a moderating effect on the relationships between push factors and pull factor with exception of improved knowledge, and switch to OSS. The results of this study will contribute to fields related to OSS both theoretically and practically.

Social division of labor in the traditional industry district - foursed on Damyang bamboo ware industry of Damyang and Yeoju pottery industry of Yeoju, South Korea (우리나라 재래공업 산지의 사회적 분업 - 담양죽제품과 여주 도자기 산지를 사례로 -)

  • ;;;Park, Yang-Choon;Lee, Chul-Woo;Park, Soon-Ho
    • Journal of the Korean Geographical Society
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    • v.30 no.3
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    • pp.269-295
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    • 1995
  • This research is concerned with the social division of labor within the traditional industry district: Damyang bamboo ware industry district and Yeoju pottery industry district in South Korea, Damyang bamboo ware and Yeoju pottery are well known of the Korean traditional industry. The social division of labor in an industry district is considered as an important factor. The social division of labor helps the traditional industry to survive today. This summary shows five significant points from the major findings. First, Damyang bamoo ware industry and Yoeju pottery industry have experienced the growth stages until 1945, the stagnation in the 1960s, and the business recovery in the 1980s. Most Korean traditional industries had been radically declined under the Japanese colonization; while, Damyang bamboo ware industry and Yeoju pottery industry district have been developed during above all stages. The extended market to Japan helped the local government to establish a training center, and to provide financial aids and technical aids to crafts men. During the 1960s and 1970s, mass production of substitute goods on factory system resulted in the decrease of demand of bamboo ware and pettery. During the 1980s, these industries have slowly recovered as a result of the increased income per capita. The high rate of economic growth in the 1960s and 1970s was playing an important role in the emerging the incleased demand of the bamboo ware and pottery. Second the production-and-marketing system in a traditional industry district became diversified to adjust the demand of products. In Damyang bamboo ware industry district, the level of social division of labor was low until the high economic development period. Bamboo ware were made by a farmer in a small domestic system, The bamboo goods were mainly sold in the periodic market of bamboo ware in Damyang. In the recession period in the 1960s and 1970s, the production-and-marketing system were diversified; a manufacturing-wholesale type business and small-factory type business became established; and the wholesale business and the export traders in the district appeared. In the recovery period in the 1980s, the production-and-marketing systems were more diversified; a small-factory type business started to depend On subcontractors for a part of process of production; and a wholesale business in the district engaged in production of bamboo ware. In Yeoju pottery industry district, the social division of labor was limited until the early 1970s. A pottery was made by a crafts man in a small-business of domestic system and sold by a middle man out of Yeoju. Since the late 1970s, production-and-marketing system become being diversified as a result of the increased demand in Japan and South Korea. In the 1970s, Korean traditional craft pottery was highiy demanded in Japan. The demand encouraged people in Yoeju to become craftsmen and/or to work in the pottery related occupation. In South Korea, the rapid economic growth resulted in incline to pottery due to the development of stainless and plastic bowls and dishes. The production facilities were modernized to provide pottery at the reasonable price. A small-busineas of domestic system was transformed into a small-factory type business. The social division of labor was intensified in the pottery production-and-maketing system. The manufacturing kaoline began to be seperated from the production process of pottery. Within the district, a pottery wholesale business and a retail business started to be established in the 1980s. Third the traditional industry district was divided into "completed one" and "not-completed one" according to whether or not the district firms led the function of the social division of labor. The Damyang bamboo ware industry district is "completed one": the firm within the district is in charge of the supply of raw material, the production and the marketing. In the Damyang bamboo ware district, the social division of labor w and reorganized labor system to improve the external economics effect through intensifying the social division of labor. Lastly, the social division of labor was playing an important role in the development of traditional industry districts. The subdivision of production process and the diversification of business reduced the production cost and overcame the labor shortage through hiring low-waged workers such as family members, the old people and housewives. An enterpriser with small amount of capital easily joined into the business. The risk from business recession were dispersed. The accumulated know-how in the production and maketing provided flexiblility to produce various goods and to extend the life-cycly of a product.d the life-cycly of a product.

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