• Korean small business review
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• v.43 no.3
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• pp.1-20
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• 2021

The survival period according to technological capability was analyzed for about 22,500 innovative SMEs in the service industry. The survival period was defined as the occurrence of overdue and default, and the technological capability was divided into two clusters. As a result of estimating the survival period according to technological capability through Kaplan-Meier analysis, it was confirmed that the estimated survival period of T1-T4 grade service innovative SMEs was significantly greater in both overdue and default. As a result of the analysis of the Cox proportional hazard model applying the control variable, it was confirmed that the higher technological capability, the lower the risk in the group of start-up companies. However, in the group of non-start-up companies the technological capability did not significantly affect the survival period, and the influence of the variables related to the size of the company was found to increase. Therefore, the technological capability is meaningful as additional information that has a significant effect on the survival period of innovative SMEs in the start-up companies group of service industry. In addition, it was concluded that it is necessary to reflect the technological capability when establishing the SME support and promotion policy of the start-up companies group in the service industry.

• Korean small business review
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• v.43 no.4
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• pp.1-25
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• 2021

As knowledge management is recognized as a core value of organizations, organizations are increasing their investment in policies and technologies for knowledge management. However, since SMEs have relatively few resources to support knowledge sharing, which is the core of knowledge management, there is a possibility that continuous knowledge management will be difficult. This study suggests the negative motivation(job burnout) on the knowledge hoarding of SME employees and the conditions to be improved at the organizational level (shared goal, knowledge sharing culture, and person-organization fit). In this study, a hypothesis was presented through a study related to transaction theory to explain the stress in the relationship between the organization and the individual. This study collected samples through a questionnaire targeting workers of SMEs with knowledge management policies. In addition, the hypothesis was verified by performing structural equation modeling. As a result of the study, shared goal and knowledge sharing culture reduced knowledge hoarding through mitigating job burnout. In particular, person-organization fit moderated the relationship between shared goal, knowledge sharing culture, and job burnout. The study presents academic and practical implications in terms of suggesting factors to mitigate the knowledge hoarding of employees for continuous knowledge management of SMEs.

• Korean small business review
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• v.43 no.1
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• pp.85-105
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• 2021

This study verified how R&D investment affects the management performance of SMEs, whether technology innovation mediates this relationship, and whether marketing competency moderates the relationship between technology innovation and management performance. A longitudinal analysis was conducted using data from the corporate panel survey performed by Daegu Technopark every year since 2013. Data from 349 companies in the Daegu-Gyeongbuk region were mainly used, and the size of 30 to 50 employees in the manufacturing industry was a major analysis target company. The results are as below. First, The results showed that R&D investment had a positive effect on management as well as technology innovation, but technology innovation did not affect management performance. Also, technological innovation did not mediate the relationship between R&D investment and management performance. This shows that in the case of small SMEs, even if technological innovation occurs through R&D investment, the technological innovation does not lead to management performance. Also, the relationship between technological innovation and management performance was not changed by marketing capabilities. This shows that technological innovation in small SMEs is not easy to lead to business performance.

• Korean small business review
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• v.42 no.3
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• pp.173-193
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• 2020

This study analyzes the effects of KOSDAQ-listed firms' convertible bonds, which have recently increased rapidly in number and size. Although KOSDAQ companies are called mid-size companies, KOSDAQ companies belong to SMEs. Furthermore, convertible bonds have traditionally been a critical capital raising tool for SMEs in the US and Europe. In Korea, KOSDAQ companies actively employ convertible bonds. Convertible bonds provide investment incentives for hesitant investors, allowing companies to raise capital at low interest rates. This study analyzes whether capital raising through issuance of convertible bonds by KOSDAQ companies affects their financial constraints. Financial constraints result from incomplete capital markets, which are embedded in most companies and countries.. In particular, financial constraints have a significant impact on the growth and survival of SMEs. The seminal study FHP(1988) is the most important and effective study of firm's financial constraints. We find that FHP's financial constraint measures show that convertible bond issuance would mitigate the financial constraints of KOSDAQ companies. However, the significance of the evidence is not strong.

• Journal of the Korean Applied Science and Technology
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• v.41 no.3
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• pp.825-841
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• 2024

This study aimed to scrutinize the evolution of cosmetics research and development (R&D) in Korea, utilizing data from nationally funded R&D projects, and to suggest strategies to enhance the competitiveness of small and medium-sized enterprises (SMEs). A thorough analysis was performed on cosmetics-related national R&D funded project data from 2019 to 2023, a comprehensive analysis was conducted on annual trends, key organization, regional characteristics, major departments, and main functions and efficacy of R&D. The features revealed that the cosmetics industry, predominantly comprised of SMEs, is directing its efforts towards the development of a diverse range of functional products, with a recent shift towards the production of eco-friendly and sustainable materials. From a regional perspective, Gyeonggi-do and Chungcheongbuk-do had the highest levels of R&D activities, demonstrating the significant R&D capabilities of these local industry. It provides a systematic comprehensive analysis based on national R&D funded project data, identifies recent trends in the cosmetics industry, and evidence for SMEs to strengthen market competitiveness and establish long-term strategies for sustainable growth. Therefore, the results of this study dispense significant information and insights not only to SMEs but also to policymakers, using critical foundational data for formulating and implementing policies to advance the cosmetics industry.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.1
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• pp.107-118
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• 2014

enterprise to strengthen growth and technological competitiveness through close cooperation with universities and research institutions. The Purpose of this study is to present how to seek more participation in industry-university cooperation from Industry, University, Research Institute, and Government (I-U-R-G) using success factor analysis of "Excellent Industry-University Cooperation Coordinator". The findings can be summarized as follows. First, it is indicated that Coordinator' business aggressiveness positively affect the volume of business and technology DB excavation. Second, it is indicated that the number of agency staff positively affect the volume of business, the number of Project derived by Coordinator and new professors participation rate. Third, it is indicated that the Fellowship of the Enterprises positively affect the volume of business, technology DB excavation and new professors participation rate. Lastly, it is indicated that organization maintains, center chapter leadership, and local government'commitment don't have positive effect on the performance of I-U Cooperation of SMEs.. Therefore, in order to improve the performance of cooperation technology development projects that affect the technological competitiveness of SMEs, I-U cooperation coordinator needs more continuous attention and support from Industry, University, Research institution, and Government.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.3
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• pp.153-165
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• 2018

There must be a balanced development of both conglomerates and small and mid-sized companies in order to secure constant economic growth and competitive edge of South Korea. Accordingly, high expectations are being placed on win-win growth and joint overseas expansion of conglomerates and small and mid-sized companies. This study seeks efficient ways to promote joint overseas expansion of major retailers and small and mid-sized companies considering the distinctiveness of home shopping by conducting interviews about joint overseas expansion of home shopping companies and small and mid-sized consumer goods companies in South Korea. To do this, interviews were conducted with three home shopping companies and three consumer goods SMEs operating in overseas markets. The results are as follows. Home shopping companies contribute to opening up overseas markets for small and mid-sized consumer goods companies, and allows them to make use of business and marketing competencies that they lack. Home shopping companies also produce visual materials or provide language translations, and help draw up documents for customs clearance in trading. They also form market development teams and provide information about the overseas markets. However, since the actual benefits from joint overseas expansion are minor for home shopping companies, there is a need for a strategy for win-win growth of both parties in the long run. To this end, it is necessary to provide substantial benefits to encourage joint overseas expansion. Ultimately, balanced development between home shopping companies and small- and medium-sized consumer goods companies should be promoted.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.2
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• pp.91-100
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• 2018

Small and medium enterprises (SMEs) endeavor to overcome the adverse resource conditions and secure competitive advantage through technological innovation capability. Prior studies have focused on the overall or specific dimensions of technological innovation capability, and examined their performance impact. However, there has been less scholarly attention on the dynamic characteristics such as the relative importance of technological innovation capability or its performance impact at the different growth stages of a firm. In this vein, this study investigates the relationship between SME innovation capability and innovation performance at each growth stages of a firm. Based on the empirical analysis of manufacturing SMEs in Korea, we found that all dimensions of technological innovation capability had positive effects on innovation performance. However, each dimension of technological innovation capability had different effect on innovation performance by the growth stages. The planning capability can improve innovation performance at the growth and maturity stages. Manufacturing capability can have positive effect on innovation performance at the maturity stage. Both of new product development capability and commercialization capability contribute to innovation performance at all of the growth stages. This study suggests the guidelines for enhancing technological innovation capability at the different growth stages of SMEs. It also provides policy implications for the design and operation of growth-stage specific programs. Finally, the limitations of the research and future research directions are presented.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.6
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• pp.199-212
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• 2014

Recently, there are increasing to the interest in the organizational innovation DNA as the innovation origin and these interest mainly were approached through the case analysis of global innovative companies. The purpose of study is to investigate the applicability under the CEO of SMEs settings as global companies' cases. The research focused on the impact of innovator's DNA on innovative strategy by the empirical study that analyzed from 110 firm's data in Daegu and Gyeongbuk region. The results of empirical study, innovator's DNA has positive effects on the overall innovative strategy, especially the effects of discovery DNA are stronger than operational DNA. Included to the discovery DNA effects, operational DNA bring about negative on the product differentiation, though it has positive on the market differentiation. In terms of components of innovator's DNA, the questioning and association have strong impacts on the overall innovative strategy, and analyzing has positive on market differentiation, but specific task implementation has negative on the product differentiation. The results suggest that the logic of global innovation case is possible to the SME's CEO and need to learning efforts to promote discovery DNA for successful innovation.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.4
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• pp.167-178
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• 2016

This study was carried out for two purposes. One is to analyse the relationship between export performance and the five capabilities of R&D intensive firms (new product development, overseas market information, SNS and communications, brand and marketing). The second purpose is to verify the difference in those capabilities between R&D intensive small companies and mid-sized companies. Based on the OECD's classification of "technology intensity", R&D intensive firms are defined as the firms which are investing more than 5% of their annual sales in R&D activities. This study reveals the significant and positive relationships between the export performance and three capabilities( overseas market information, SNS and communication, brand) except for new product development capabilities and marketing capabilities. Those capabilities increase export performance. On the other hand, this study finds a significant difference in overseas market information capabilities and brand competence between R & D-intensive SMEs and mid sized companies. It is shown that those two capabilities in the mid sized firms are stronger than in the SMEs. These findings have important implications for the growth of R&D intensive SMEs in the global market. First, for higher export performance of R&D intensive firms, three capabilities such as overseas market information, SNS-communication and brand should be strengtened. In particular, SNS-communication capabilities as innovative marketing competences should be developed together with traditional marketing capabilities. Second, the growth of SMEs into Mid-sized firms needs the development of brand competences and overseas market information capabilities.