• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.4
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• pp.45-55
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• 2022

Accelerator is a private investment institution that provides startups with comprehensive solutions to solve various difficulties such as startup facilities, funds, commercialization, securing a market etc. In addition to the role of an investor as a new startup support model, accelerators have contributed much to improvement of business ability of startups through intensive mentoring. Considering that previous studies gave weight to the determinants of investment from the perspective of investors, this study made a comparative analysis on the relative importance of determinants of investment in startups among accelerators, investors and entrepreneurs through the method of AHP. Results show that accelerators and investors regard "managerial characteristics" of startups as of the highest importance, whereas entrepreneurs think that "market characteristics" of startups are the most important. The result stems from an empirical judgment from the perspective of investors that success of startups depends on the ability of entrepreneur, and it is considered that investors evaluated marketability of startups as the most important factor in consideration of investment payback period. The result is similar to the result of previous studies on the determinants of investment determinants of angel investors and venture capitals. This paper is expected to make a contribution to the advancement of investment decision-making model for accelerators to discover startups with high possibility to grow and achieve more in incubation and investment.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.635-641
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• 2021

This paper aims to find out the main factors that are important in determining the size of investment in the Jordanian productive sectors. For this purpose, the study used panel data for four Jordanian productive sectors over the period 2000-2017. Also, fixed-effects modeling was carried out to identify the relationship between investment and its potential determinants. Empirical investigations of the four productive sectors reveal the following results: The real value of sector's production and the real value of credit facilities have a positive and significant impact on investment, while the real interest rate has a negative effect on investment in the Jordanian productive sectors. Also, at the sector level, agriculture was more responsive to changes in the real value of credit facilities, while other sectors were more responsive to changes in the real value of sector's production. According to these results, it seems that some policy actions should be taken to enhance the size and the role of investment in the economy. For example, policymakers should adopt a mixed policy and expand the provision of credit facilities, especially to the agricultural sector, to enhance agricultural activity in a manner that ensures the improvement of infrastructure and land reclamation.

• Korea Trade Review
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• v.46 no.2
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• pp.337-354
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• 2021

Several previous studies have not been able to derive consistent research results on the impact of the level of corruption in local countries on foreign direct investment. Therefore, in order to suggest that this study should consider the relative level of corruption rather than the level of absolute corruption, 1) first, examine the moderating effect of the absolute level of corruption on the determinants of foreign direct investment, and 2) examine the moderating effect of the relative corruption on the determinants of foreign direct investment. This study collected 9-year data from 2012 to 2020 based on the Corruption Perceptions Index (CPI) published by Transparency International. A total of 549 observations (country-year) from 82 countries were sampled and a generalized estimation equation (GEE) analysis was performed. As a result of empirical analysis, it was found that the moderating effect of absolute corruption did not appear, whereas the moderating effect of relative corruption reversed the negative (-) relationship between cultural distance and foreign direct investment into a positive (+) relationship. Based on these empirical results, this study suggest that Korean companies need to consider the relative level of corruption with Korea instead of the absolute level of corruption of the investee when conducting foreign direct investment.

• International Commerce and Information Review
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• v.10 no.2
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• pp.411-432
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• 2008

This study presents the pattern and determinants of intra-industry trade in Korea's machinery and transport equipment industry focusing the influence of foreign direct investment on intra-industry trade. Using an OLS regression model the determinants of intra-industry trade are investigated. Results indicate that a statistically significant negative relationship is found between intra-industry trade and foreign direct investment, and show that intra-industry trade is positively affected by the degree of product differentiation and export structure similarity. Intra-industry trade is also positively associated with the economies of scale, the level of trade barrier, and transportation costs, although this is not statistically significant. The study found strong evidence that the propensity of foreign direct investment toward export specialized industry makes the negative relationship between intra-industry trade and foreign direct investment.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.6
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• pp.27-42
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• 2020

Startup accelerators have emerged as new investment entities that help early startups, which are not easy to survive continuously due to lack of funds, commercialization capabilities, and experiences. As their positive performance on early startups and the ecosystem has been proven, the number of early startups which want to receive their investment is also increasing. However, they are vaguely preparing to attract accelerators' investment because they do not have any information on what factors the accelerators consider important. In addition, researches on startup accelerators are also at an early level, so there are no remarkable prior studies on factors that decide on investment. Therefore, this study aims to help startups prepare for investment attraction by looking at what factors are important for accelerators to invest, and to provide meaningful implications to academia. In the preceding study, we derived five upper level categories, 26 lower level accelerators' investment determinants through the qualitative meta-synthesis method, secondary data analysis, observation on US accelerators and in-depth interviews. In this study, we want to derive important implications by deriving priorities of the accelerators' investment determinants. Therefore, we used AHP that are evaluated as the suitable methodology for deriving importance and priority. The analysis results show that accelerators value market-related factors most. This means that startups that are subject to investment by accelerators are early-stage startups, and many companies have not fully developed their products or services. Therefore, market-related factors that can be evaluated objectively seem to be more important than products (or services) that are still ambiguous. Next, it was found that the factors related to the internal workforce of startups are more important. Since accelerators want to develop their businesses together with start-ups and team members through mentoring, ease of collaboration with them is very important, which seems to be important. The overall priority analysis results of the 26 investment determinants show that 'customer needs' and 'founders and team members' understanding of customers and markets' (0.62) are important and high priority factors. The results also show that startup accelerators consider the customer-centered perspective very important. And among the factors related to startups, the most prominent factor was the founder's openness and execution ability. Therefore, it can be confirmed that accelerators consider the ease of collaboration with these startups very important.

• International Commerce and Information Review
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• v.14 no.3
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• pp.185-207
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• 2012

Vietnam is the easternmost country on the Indochina Peninsula in Southeast Asia. Many Korean companies have recently invested their factories to Vietnam from China. This Study measures the entry determinants and outcomes of Vietnam foreign direct investment of the Korea company. This study developed a research model to determinant factor in the Vietnam market entry and collected 98 survey responses from the Korean company to Vietnam investment. In the article analysis, Multiple regression results show that Vietnam investment outcome review are positively affected by "Scale of Investment company", "International Experience of Investment company", "Marketing Skill of Investment company" and "Vietnam's Market Scale", "Vietnam's Market Environment" factors in all a hypothesis. However, the result of this analysis showed that the "Financial management of investment company", and "Organization management of investment company" as independence is not statistically significant. This article suggests that the investment outcome of Vietnam foreign direct investment should take earned of the Korea company in Vietnam market.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.1
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• pp.1-19
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• 2021

The purpose of this research is to improve the investment success rate for startups in the water industry for the development of the entrepreneurial environment of the Korean water industry. In this research, we identified investment determinants through prior research and stratified them, and then surveyed the investor group at the beginning of the start-up using the FGI method, and determined the order of the investment determinants of investors. At the same time, we classified 41 start-ups related to the water industry into two groups: the group that received investment and the group that did not in the early stages of the start-up. Then we investigated the understanding of the investor's investment determinants, ranked them, and compared them by using the AHP technique. Through this, this research proposes five implications. First, it is important for start-ups in the early stages to receive seed investment to revitalize investment for startups in the water industry. For this, startups need to understand investors and prepare to attract investment with the perspective of angel investors rather than the perspective of VC investors. Second, Start-ups in the water sector should consider that the characteristics of the founder are important in order to receive seed investment, and also need to define their business at the industry and market level, and provide relevant rationale to meet the expectations of investors who value industry expertise and experience, and to increase the possibility of seed investment, which is important in the early stages of a startup. Third, institutions, such as K-water(Korea Water Resources Corporation), that support water industry startups need to conduct open innovation business opportunities discovery programs linked to startups so that startups currently participating in the startup support program could have business opportunities from the business infrastructure of platform-forming companies in the water industry. In particular, such institutions should help founders develop their industrial expertise and careers by supporting this type of start-up preparation process through the participation of in-house venture founders. Fourth, when K-water uses the government start-up support fund to discover and foster founders, it should increase initial contact with seed investors, conduct more thorough verification of business plans, and develop programs that use government start-up support funds to prepare a business suitable for seed angel investors. Fifth, K-water should support seed by connecting funds for initial investment among funds operated by itself. It is also necessary to develop a program that links the company receiving the seed investment with VC investment, not angel investment in cooperation with the VC fund operation entity participating as an LP so that companies that have attracted seed investment could attract follow-up VC investment.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.4
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• pp.287-297
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• 2020

The research aims to investigate the impact levels of determinants on the loyalty of accountants to FDI firms underlying investment management in Thanglong Industrial Park in Hanoi, Vietnam. We conducted a questionnaire consisting of 31 observation variables with a 5-point Likert scale. Independent variables were measured from 1 "without effect" to 5 "strongly". The method of data collection was done through the survey and subjects are accountants in FDI firms doing business in Thanglong Industrial Park in Hanoi. After checking the information on the votes, there are 120 questionnaires with full information for data entry and analysis, This study employs Cronbach's Alpha test, and regression model. The results show that seven determinants including Working environment, The characteristics of working; Training, promotion prospects and development; Income, Personal characteristic, Collective work together and The method of leading had positive relationships with the loyalty of accountants. Based on the findings, some recommendations are given related to such determinants to improve the loyalty of accountants of FDI firms in general and FDI firms in Thanglong Industrial Park in Hanoi in particular. With which, those firms can enhance performance, reduce financial strain, saving on investment in the recruiting process of new staff, increase profitability to ensure investment management.

• Korean Journal of Artificial Intelligence
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• v.6 no.2
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• pp.1-9
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• 2018

Recently, the rapid development of artificial intelligence industry has resulted in a great change in our modern society. Due to this background, this paper takes the United Kingdom as an example to explore the determinants of artificial intelligence industry in terms of United Kingdom's macroeconomics. The quarterly time series from the first quarter of 2010 to the fourth quarter of 2017 will be employed to conduct an empirical analysis under the vector error correction model. In this paper, the real GDP, the employment figure, the real income, the foreign direct investment, the government budget and the inflation will be regarded as independent variables. The input of artificial intelligence industry will be regarded as a dependent variable. These macroeconomic variables will be applied to perform an empirical analysis so as to explore how the macroeconomic variables affect the artificial intelligence industry. The findings show that the real GDP, the real income, the foreign direct investment and the government budget are the driving determinants to promote the development of artificial intelligence industry. Conversely, the employment figure and the inflation is the obstructive determinants to hamper the development of artificial intelligence industry.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.3
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• pp.1-15
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• 2023

Impact investment involves investing in companies that pursue both social value and financial returns. It focuses on addressing various social problems through innovative solutions while generating profits. The domestic impact investment ecosystem has experienced significant growth with the support of the government and public institutions. In 2021, it witnessed a 3.5-fold increase over three years, reaching a total of 700 billion won in operating assets. In order to foster qualitative growth alongside this quantitative expansion, it is crucial to conduct research specifically on impact investment, which sets it apart from conventional venture investment. This study aims to empirically analyze the unique factors that influence impact investment decisions. Firstly, the factors affecting investment decisions were identified through a literature analysis. Then, a consultation and Delphi survey involving 11 representatives and evaluators from impact investment companies was conducted to determine the major investment determinants. Subsequently, an AHP (Analytic Hierarchy Process) survey was carried out with 10 impact investment evaluators to ascertain the relative importance of these factors. The analysis revealed the following order of importance for the top factors: market>entrepreneur(team)>product/service>finance. Furthermore, the importance of specific factors was identified in the following order: market competition and entry barriers>new market creation>market growth and potential expansion>team expertise and capabilities. Unlike previous studies that primarily focus on general startup investment factors, this research demonstrates that impact investment places greater emphasis on market-related factors and considers the sustainability and profitability of the business model to be more important than the social impact of social ventures.