• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.3
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• pp.13-26
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• 2019

There is a growing interest in the entrepreneurial activity that has long been considered essential for sustainable economic development and value creating. Although it is strongly encouraged by focusing on the positive aspects of venturing, less has been paid attention to entrepreneurial failure, which is the biggest cause of hesitation in starting a business. The uncertain and risky nature of entrepreneurship implies a considerable possibility of failure. Even if it fails, the experience and knowledge of entrepreneurs acquired through entrepreneurship indeed offers valuable lessons for the re-venturing, which can serve as an important social asset that should not be lost. It has been argued that re-entering the same industry for the subsequent venture maximizes the learning effect through utilizing potential benefits from industry-specific knowledge. Although the re-startup after entrepreneurial failure is a very important topic in the studies on serial entrepreneurs, there is a paucity of systematic empirical investigation. This study responds to calls for more research on the re-startup after entrepreneurial failure, and specifically complements existing studies on serial entrepreneurs. Focusing on the entrepreneurs' attribution for the failure, we conducted an empirical analysis of how this affects the re-startup process. Moreover, we also examined the moderating effects of entrepreneurial self-efficacy and resilience. For the analyses, we surveyed the entrepreneurs who tried to re-start the subsequent business after the entrepreneurial failure through the "Revitalization Center for Strained Entrepreneur". The results found that failed entrepreneurs who blamed internal factors for their previous venture failures were likely to keep the same industry for their subsequent business. In addition, the positive effect of internal attribution on maintaining the same industry for the re-startup was found to be stronger when entrepreneurial self-efficacy and resilience were high.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.2
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• pp.187-200
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• 2023

The purpose of this study is to examine how the start-up education, start-up support system, and start-up mentoring directly and indirectly conducted in universities affects entrepreneurial Intention, and to present programs and directions that can increase the possibility of start-up for college students. This study analyzed the effects of college students' satisfaction with university entrepreneurship education, awareness of the entrepreneurship support system, and entrepreneurship mentoring on entrepreneurial will, and then analyzed how entrepreneurship efficacy affects entrepreneurial will as a moderating effect. The recognition of the start-up support system was divided into the government start-up support policy and the university start-up support project, and start-up mentoring was divided into mentoring function (problem-solving function, networking function, communication function, motivation function) and mentor trust (cognitive trust, emotional trust). Regression analysis was performed on satisfaction with college entrepreneurship education, perception of entrepreneurship support system, entrepreneurship mentoring as independent variables, and willingness to entrepreneurship as dependent variables. In addition, entrepreneurship efficacy was designated as a moderating variable and analyzed. As a result of the study, first, it was found that satisfaction with start-up education had a positive (+) effect on college students' willingness to start a business. Second, among the start-up support systems, university start-up support projects were found to have a positive (+) effect on college students' willingness to start a business. Third, as a result of verifying whether entrepreneurial self-efficacy has a moderating effect on the relationship between college start-up support projects and college students' willingness to start a business while recognizing the start-up support system, it was found to have a moderating effect. The following implications can be derived based on the analysis results of this study. First, efforts to improve start-up education will be needed to increase the satisfaction of start-up education. Second, Through the operation of the start-up counseling center in the university, it will be possible to recognize the education system supported by the university, the university start-up support project that can carry out the indirect experience of start-up, and the government start-up support policy that supports funds. Third, It will be necessary to open a program that can provide start-up mentoring through connection with mentors in the start-up field, such as professors, employees, and senior start-ups in universities. Fourth, It is necessary to develop thorough education on the preparation process of start-ups, start-up special lectures where senior start-ups can indirectly experience the failure of start-ups, and programs for customized start-up education according to college students' major and individual tendencies.

• Journal of East Asia Management
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• v.3 no.1
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• pp.1-10
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• 2022

Innovation and entrepreneurship education is becoming an important development opportunity for colleges and universities to realize curve overtaking. Affected by the physical and mental development characteristics, female college students in innovative undertaking showed different growth characteristics. In order to further promote female college students' innovative undertaking, we should combine the characteristics of female design with innovation entrepreneurship education path. As one of the three women's colleges, the general innovation and entrepreneurship course system of Shandong Women's University provides a wide education of innovation and entrepreneurship consciousness and thinking for all students. The undergraduate major of business Administration (entrepreneurial management) provides the whole system education of entrepreneurship, and through "system guarantee, professional construction, course system, competition assistance and project cultivation", female students' entrepreneurial consciousness is cultivated and their entrepreneurial ability is improved.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.5
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• pp.129-143
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• 2020

Recently, Start-ups has been emphasized as part of a career-breaking women returning to society policy. To this Policy, the relationship between the planned happenstance skills and the entrepreneurial intentions of a career-breaking woman was investigated, and the successful role model as an individual environmental factor and the moderating effect of social support forces was verified. The results of the survey analysis of 139 women who have experienced career cut-offs in the metropolitan area and Dae-gu and Gyeong-buk are as follows; First, the planned happenstance skills of career-breaking women affect a positive effect on the entrepreneurial intentions. Second, it was found that the moderating effect of the successful role model does not appear in the relationship between the planned happenstance skills of a career-breaking woman and the entrepreneurial intentions. Third, it was found that there was no moderating effect of the social support forces in the relationship between the planned happenstance skills and the entrepreneurial intentions of a career-breaking woman. Last, It was found that the entrepreneurial intentions, which is a personal psychological characteristic for career-breaking women is more directly affected than personal environments. In order to increase career-breaking women's the entrepreneurial intentions, it is necessary to develop psychological skill-building programs which can enhance the accessibility of start-ups and raise the perception of Start-ups. In addition, it is necessary to continuously expand exposure opportunities such as role models and success stories which succeeded in starting a business after a career break and to expand social support forces that can help with courage, advice, and change management to discover opportunities of start-ups.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.10 no.11
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• pp.3354-3362
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• 2009

Recently, the potential of advanced studies is being highlighted that the networking activity of entrepreneurs of venture businesses influences successful foundation. Given this background, this study intends to make an exploratory study on the influence of self-efficacy of the entrepreneur's cognitive characteristic and patience with ambiguity of the psychological characteristic upon networking activity, and the components of networking activity upon entrepreneurial performance. It was tested with sample of responses to the questionnaires for 156 entrepreneurs of venture businesses which are under 3 years since they were founded. Findings of this study are as follows: First, the entrepreneur's self-efficacy was shown to have a significant effect on networking and entrepreneurial performance. Second, patience with ambiguity was shown not to have a significant effect on networking and entrepreneurial performance. Third, networking was shown to have an effect on entrepreneurial performance, and among the components of networking activity, network frequency and reliability were shown to significantly influence entrepreneurial performance, while network range was shown not to have a significant effect on it. Therefore, for performance improvement of start-up enterprises, rather self-efficacy of the entrepreneur's cognitive characteristic than the psychological characteristic seems more important. Also, with a practical suggestion that for the networking activity of entrepreneurs of venture businesses, network frequency and reliability may have a more critical effect rather on entrepreneurial performance than network range, the limitation and direction of this study are presented.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.3
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• pp.47-61
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• 2014

Many angel investors hesitate to invest in early-stage company. Most early-stage company has no sales and only R&D step project or in early approach of market. So it's impossible to evaluate early-stage company quantitatively. Therefore many angel investors depend on CEO's tendency to evaluate company and make decision for investment. The purpose of this study is discover the entrepreneurial characteristics of CEO and the importance level which affect on the angel investors decision making factors for investment. To identify the factors of entrepreneurial characteristics, survey was conducted by Delphi Technique which is involved by 20 experts who is angel investment club members, venture capitalists, CEOs and officers. Three rounds of survey results derived 10 elements of entrepreneurial characteristics for investment decision making factors including reliability, risk sensitivity, passion, perseverance, integrity, leadership, startup experience, organizational management skills, innovation and social networking. In addition, this study derived the importance level of elements of entrepreneurial characteristics based on the AHP(Analytic Hierarchy Process) theory and maintained the logical consistency by pair-wise comparison for each element. As a result of analyzing the importance of entrepreneurial characteristics, the sequence is reliability (18.1%), integrity (15.9%), leadership (11.7%), organizational management skills (10.0%), social networking (9.5%), passion(9.1%), perseverance(8.4%), innovation(8.1%), startup experience(5.3%) and risk sensitivity(3.9%) respectively. The significance of this study is somewhat decrease limit of the uncertainty arising from angel investors and angel investors can help a decision making, by discover factors of entrepreneurial characteristics that can be called the biggest influencing factors among Investor's investment decision-making In early stage companies and compare importance.

• Journal of Digital Convergence
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• v.19 no.8
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• pp.21-32
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• 2021

The government is focusing its attention and support on start-ups. Nevertheless, there is anxiety and fear about starting a business at the base of public awareness. Experienced as a way to overcome fear and difficulty. Few prior studies have been done on experience factors as ones influencing entrepreneurial intention. In this study, I studied whether the experience of successful entrepreneurship through cultural indirect experience affect the resolution of fear about establishing a business. Among the influencing factors on the entrepreneurial intention, business motivation, social support and awareness of entrepreneur were selected as independent variables. In addition, by applying the cultivation theory, the drama role models were set as a controlling variable. For empirical analysis, a survey was conducted targeting 399 ordinary persons. The hypothesis was tested through regression analysis using the SPSS 23 statistical package. The moderating effect was analyzed using Process Macro 3.5. Self-fulfillment, livelihood, economic motivation, social support, and awareness of entrepreneur are sub-factors of business motivation, And all of these had a positive significant effect on entrepreneurial intention. Among the significant variables, self-fulfillment was found to have the greatest effect. On the other hand, as a result of analyzing the moderating effect of the drama role model, it was found play a role in controlling between self-fulfillment and entrepreneurial intention, between livelihood and entrepreneurial intention, and between awareness of entrepreneur and entrepreneurial intention. Based on these research results, academic and practical implications were presented.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.1
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• pp.139-155
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• 2022

This paper presented a research model to investigate the relationship between the psychological traits of small business entrepreneurs and entrepreneurial orientation and the relationship between entrepreneurial orientation and performance. To verify the research model, a total of 202 entrepreneurs in Daegu were surveyed and the data obtained were used. The collected data were analyzed by SPSS and AMOS. The results of the analysis showed that all of the psychological traits except 'Agreeableness' and 'Extroversion' among the small business entrepreneur's psychological trait had a positive(+) effect on entrepreneurial orientation. In addition, it was confirmed that entrepreneurship orientation had a positive(+) effect on performance, and government policy funding had a moderating effect between entrepreneurship orientation and performance. In conclusion, the causal relationship between the small business entrepreneur's psychological traits and entrepreneurial orientation is examined, and the moderating effect of government support programs is examined to find out what psychological traits of small business entrepreneurs affect the expression of entrepreneurial orientation. In addition, since entrepreneurial orientation affects performance and government policy funds control, it suggests that continuous financial support for small business entrepreneurs is needed.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.10 no.5
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• pp.151-163
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• 2015

This study aims to clarify factors having effect on the turnover and entrepreneurial intention of financial institution workers. Particularly, this study analyzed the effect of job satisfaction, job insecurity, retirement expectation and retirement preparation activities. As research subjects, this study selected financial institution workers residing in Seoul and the capital area and used a total of 508 samples as analysis data. This study analyzed job satisfaction, job insecurity, retirement expectation and retirement preparation activities as factors having effect on the turnover and entrepreneurial intention of financial institution workers. The research results can be summarized as follows; Firstly, all the factors of job satisfaction had negative (-) effect on their turnover intention, and compensation satisfaction and interpersonal relation satisfaction also had negative (-) effect on their entrepreneurial intention. Secondly, since job insecurity had positive (+) effect on their turnover intention and entrepreneurial intentions, the more insecure their jobs became, the more their turnover and entrepreneurial intention increased. Thirdly, in the retirement expectation, forced frustration and continuation had positive (+) effect on their turnover intention, and forced frustration, new start and continuation also had positive (+) effect on their entrepreneurial intention. Fourthly, in the retirement preparation activity, entrepreneurial preparation, social preparation and physical preparation of retirement preparation activity had positive (+) effect on their turnover intention, but economical preparation had negative (-) effect on their turnover intention, while entrepreneurial preparation had positive (+) effect on their entrepreneurial intention. In other words, as they prepare business start-up more for retirement, their turnover and entrepreneurial intentions increase more. Although they receive higher wages than other workers in different job fields as financial institution workers, they showed significant results about turnover and entrepreneurial intentions, which indicates that job satisfaction, job insecurity, retirement expectation and preparation activities function as important variables in the relation with their turnover and entrepreneurial intentions. Such research results imply that it is necessary to develop various educational programs and turnover and business start-up support programs so that financial institution workers may have better understanding of both success and failure cases when they actually work on business start-ups.

• East Asian Journal of Business Economics (EAJBE)
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• v.5 no.4
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• pp.20-38
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• 2017

Purpose - this study analyzes the impact of restaurant startup education on transfer effects in learning and entrepreneurial intentions based on previous research. Also, problems and ways to provide effective business startup education for a restaurant founder will be proposed based on the result. Research design, data, methodolog - this study collected surveys by conducting direct investigation. From July 20th of 2016 to September 20th of 2016 (approximately 60 days), the survey was collected. Out of 540 surveys, 520 were collected. And excepting 9 surveys which were untrustworthily conducted, total 511 surveys were used for the analysis. Results - First, as a result of the impact of which factor of a restaurant founder's startup education has a positive impact on transfer effect in learning (the satisfaction of startup education and learning transfer), law education, entrepreneurship education and business district analysis education and practical education have turned out be positively related variables. Secondly, as a result of the impact of a restaurant founder's startup education satisfaction on transfer in learning, it has been identified that startup education has a positive impact. Lastly, by conducting an analysis to find out which factor from a restaurant founder's transfer effect in learning has an impact on entrepreneurial intention, all variables, including startup education satisfaction and transfer effect in learning, are positively influencing factors. Conclusions - as startup education satisfaction of a restaurant founder is increasing, there is a higher level of transfer effect in learning. Moreover, as transfer effect of startup business is getting higher, it has an impact on entrepreneurial intention.