• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.5
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• pp.103-114
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• 2014

The concept of entrepreneurial orientation has been recognized as a key driver for success of business ventures. Since small and medium-sized business ventures usually lack in business experience, firm level entrepreneurship seems to play an important role in generating firm performance. Following those logics, traditional approaches assumed that the relationship between entrepreneurial orientation and firm performance is linear, but recently studies start to report non-linear relationships. However, only a few researches examines and compares the performance effects of entrepreneurial orientation with diverse performance indicators. Current study explores the effects of entrepreneurial orientation both on financial and innovative performance with 1,497 Korean small and medium-sized business ventures. This study finds that there is a linear relationship between entrepreneurial orientation and financial performance, but inverted U-shaped relationships between entrepreneurial orientation and innovative performance, measured by product novelty and patent issued. Also those relationship patterns are consistent with different measurement of entrepreneurial orientation. Based on these results, theoretical implications with some limitations are discussed.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.5
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• pp.325-333
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• 2022

This study examined the influence of three elements of individual entrepreneurial orientation (IEO), namely innovativeness, risk-taking, and proactiveness on the performance of small and medium enterprises (SMEs). It is worth noting that SMEs have experienced low productivity, low profit, and low performance during the COVID-19 pandemic era. Although several studies have shown that entrepreneurial orientation (EO) is a key factor of company performance, few have focused on IEO. This study employed a quantitative research design because all variables were measurable. It used a questionnaire to survey 384 SMEs in the service sector and employed structural equation modeling (SEM) in data analysis. The findings suggested that SMEs' performance was influenced by risk-taking and proactiveness. This could be related to the fact that SMEs have a less formal structure, allowing owner-managers to take risks and make quick decisions. Furthermore, high performance was ensured by being very sensitive to market trends and changes in the business environment. Innovativeness was not a significant factor in influencing the performance of SMEs. Perhaps it was rather difficult for SME owner-managers to be innovative due to the lack of various resources. This study successfully re-confirmed the effect of IEO on business performance and highlighted the importance of risk-taking and proactiveness in improving the performance of SMEs.

• Journal of the Korea Safety Management & Science
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• v.18 no.1
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• pp.191-201
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• 2016

The paper examines how servant leadership and organizational identification contributed to explaining innovative behavior. In order to verify the relationships and mediating effect, data were collected from 298 individuals in employees working in small and medium-sized firms at Jinju, Changwon, Gimhae, Busan City to test theoretical model and its hypotheses. All data collected from the survey were analyzed using with SPSS 18.0. This study reports findings as follows: first, the relationship between the servant leadership and the organizational identification is positively related. Second, there was also a positive correlation between the organizational identification and the innovative behavior. Third, the relationship between the servant leadership and the innovative behavior is positively related. Finally, the organizational identification played as a partial mediator on the relationship between servant leadership and innovative behavior. Based on these findings, the implications and the limitations of the study were presented including some directions for future studies.

• Journal of the Korea Safety Management & Science
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• v.16 no.1
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• pp.53-68
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• 2014

The purpose of this study is to verify the relationships among innovative behavior, turnover intention, and job security. An additional purpose was to examine partial mediating effects on psychological ownership. The baseline of analyzing those relationships in this study is that the role of psychological ownership will be a mediator between job security and turnover intention as well as innovative behavior in the organization. To accomplish these purposes, a model was built among job security as predictor variable, the psychological ownership as mediating variable and turnover intention, and innovative behavior as criteria variables based on the studies conducted in the various areas. The 248 questionnaires surveyed from the area of DaeGu and Kyungbuk were used in the statistical analyses. The detail statistical techniques are such as descriptive analysis, reliability analysis, factor analysis, correlation analysis, and multi regression analysis. The results of the study show that job security had positively significant effect on turnover intention and innovative behavior. In addition, only the psychological ownership of organization-level thinking have partial mediating effects between job security and innovative behavior also job security and turnover intention. The results may indicate that the psychological ownership of organization-level thinking be a key factor to alleviate the turnover intention of employees and to encourage the innovative behavior during their works for the small-medium size companies showing the unstable job security.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.5
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• pp.259-268
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• 2020

This study aims to provide empirical evidence on the causal relationship between bribery and firm innovation. To this end, we use a micro-dataset of small and medium firms in Vietnam surveyed in 2015. Given the binary nature of the dependent variable, a simple probit regression model is employed. However, as bribery variable is potentially endogenous, a simple probit regression may give biased estimates. We deal with the potential endogeneity by making use of the bivariate probit model. A property of the bivariate probit model is that it can produce efficient estimates of a typical probit model with endogenous binary explanatory variable. A Hausman-like likelihood ratio test is implemented following the estimation to test the existence of endogeneity. We find that bribery significantly undermines firm innovation. Also, firms run by household appear less innovative. The probability of innovation diminishes significantly if firm owners or managers have previous experience in firm products. As expected, larger firms seem to be more innovative. Exporters tend to be more innovative compared to non-exporters. Our findings provide support to the hypothesis that bribery is detrimental to firm innovation and, thus, innovation may be a mediating channel, through which, bribery impedes firm long-term performance.

• The Journal of the Korea Contents Association
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• v.19 no.12
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• pp.215-228
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• 2019

This study micro-analyzed the impact of innovation capabilities on innovation performance by type of CEO, with innovative SMEs being subject to research. In addition, the impact of CEO type on innovative capabilities and the impact of innovative capabilities on innovation performance were studied together. In order to achieve the research objective, we conducted an empirical analysis of 250 innovative small and medium-sized enterprises registered in the medium-term department as research targets and the results are as follows. First, the analysis of the impact of the type of CEO on the capacity of innovation shows that market-oriented, technology-driven and consultant-type CEOs have a significant impact on the amount of technology change reduction, but managed CEOs do not see any statistically significant differences in the amount of technology change reduction areas. Managed CEOs did not see statistically significant differences in the amount of technology change-sensitive areas. In addition, it was analyzed that the current type of CEO of small businesses does not affect the R&D technology digestion capacity of technological innovation capabilities. Second, the analysis of the relationship between innovation capabilities and innovation performance did not have a statistically significant effect. Third, the analysis of the adjustment effect between the type of CEO and the capacity of innovation according to the growth stage of small businesses shows that the technology and the consultant-type CEO affect the amount of the area of technology change, but the managed and market-type CEOs did not have the adjustment effect. Fourth, the analysis of the capacity of innovation and the effect of adjustment between innovation and innovation in the growth phase of innovative SMEs did not have a statistically significant effect.

• World Technopolis Review
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• v.1 no.2
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• pp.118-128
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• 2012

This paper suggests policy implications for Daedeok Innopolis (DI) in Daejeon by comparing the development and problems of DI with the San Diego biotechnology cluster. DI has strengthened its capabilities for technology commercialization and business activities after having created and managed by the Korean central government. While DI has been successful in increasing the number of institutes, researchers, research activities, however, its dynamism is not rigorous enough to be a regional innovative system. San Diego's scientific and entrepreneurial community shows the importance of formulating social and spatial contexts for mutual interactions and engagements. In San Diego, UCSD and networking organizations, especially CONNECT, are central in promoting interactions and communications between regional constituents including entrepreneurs, academics and local governments. The mechanisms of San Diego biotechnology imply that DI should provide more attention to designing and developing social and geographical space that can unleash the creative power of social interactions. To build an innovative regional system, DI needs to renovate its space, public-private relationship and networking platforms.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.3
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• pp.129-138
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• 2014

After global economic crisis, China has become one of the two pillars in the global economies and the country contributing to the Korean economy. Nevertheless, the research on Chinese financial market, particularly capital market, is rare to date. This study examined the growth enterprise market that emergedat the Shenzhen stock exchange and made comparative analysis on before and after listing for the Chinese small and medium sized firms and venture firms. The listing requirements at the Chinese growth enterprise market for the technologically innovative venture firms and fast-growing small and medium sized firms with financing purpose were more alleviated than the main board of Shenzhen stock exchange. Moreover, the listing procedures are simplified as well. Accordingly, many Chinese enterprises tend to list and the competition for listing is also intense. In particular, with the 36 initially listed firms at growth enterprise market as the research target, the investigation for the business performance before and after listing reveals that the three indexes including return on common equity, debt ratio and operating profit growth rate dropped dramatically for most all the firms. That is, the profitability and growth for the venture firms and small and medium sized firms listed on the Chinese growth enterprise market decreased rapidly after going public, only the stability improved due to the great financing. Taking a step forward, this phenomenon may result from the exaggerated reporting for the business performance before listing with the purpose of going public by the venture firms and small and medium sized firms. Thus, Chinese Securities Regulatory Commission should strengthen the accounting evaluation standard and regulation for the listing firms before going public. In addition, strict sanctions should be imposed on the firms with fraudulent accounting to establish healthy capital market.

• Journal of Information Technology Services
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• v.14 no.3
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• pp.147-161
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• 2015

The rapid changes in consumption patterns and the manufacturing industry environment are both a threat and an opportunity for small and medium-sized enterprises in Korea because it lacks innovative capacity compared to large conglomerates. In this new manufacturing environment, social manufacturing is an innovative business model that can create new business opportunities for these companies. However, there are not that many proven models of platforms where products are created jointly with consumers. Some conceptual analysis of the success factors and operation strategy of co-creation platforms have started to be released but there are almost no empirical studies conducted on this matter today. In this study, the social manufacturing platform business concept and its components were studied; various factors that affect the willingness to participate in consumer-led co-creation platforms were considered; the factors were surveyed on potential consumers; a study was carried out to analyze the relationship of these factors; a model of these factors were set up and proven.

• Korea Trade Review
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• v.45 no.2
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• pp.87-102
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• 2020

While many previous studies have emphasized that technological and learning capabilities have an important impact on internationalization, however, there have been few attempts to directly identify the mediating role of innovative performance in the relationship between them. Therefore, we tested the relationships among two organizational capabilities such as technological capability and learning capability, innovative performance and internationalization. Specifically, we explored the impact of two organizational capabilities on innovative performance and the mediating role of innovative performance on internationalization. We tested hypotheses based on 206 survey data of Gwangju and Jeonnam provinces' small and medium-sized enterprises (SMEs). The empirical results showed that both technological capability and learning capability had a significantly positive (+) effect on SMEs' innovation performance, and both technological capability and learning capability had a significantly positive (+) effect on internationalization performance. In addition, it was confirmed that the innovation performance is not only related to the relationship between technological capability and internationalization performance but also acts as a partial mediation role in the relationship between the learning capability and internationalization performance. Based on the results of this study, theoretical and practical implications were provided, and the limitations of this study and future research directions were also discussed.