• KDI Journal of Economic Policy
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• v.38 no.3
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• pp.79-106
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• 2016

This paper investigates the effectiveness of public credit guarantee programs and interest-support programs for SMEs (small and medium enterprises). First, assuming that there is an imperfect information structure in the SME loan market, we analyze how SME support financial programs affect the corporate decisions made by SMEs with regard to default or loan sizes. In addition, this paper theoretically computes the optimal levels of credit guarantee amounts and the interest-support spread under equilibrium with imperfect information in a competitive loan market. Second, the paper empirically analyzes the continuous policy-treatment effect with the GPS (generalized propensity score) method. In particular, we consider the ratio of guaranteed debt to the total debt as a continuous policy treatment. The empirical results show that marginal effects of a credit guarantee on SMEs' productivity, profitability, and growth potential decrease with the ratio of guaranteed debt to the total debt. In addition, the average effect of a credit guarantee is maximized when this ratio is at 50% to 60%.

• Journal of the Korea Society of Computer and Information
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• v.23 no.1
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• pp.9-15
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• 2018

Policy polls, which investigate the degree of support that the policy has for policy implementation, play an important role in making decisions. As the number of Internet users increases, the public is actively commenting on their policy news stories. Current policy polls tend to rely heavily on phone and offline surveys. Collecting and analyzing policy articles is useful in policy surveys. In this study, we propose a method of analyzing comments using deep learning technology showing outstanding performance in various fields. In particular, we designed various models based on the recurrent neural network (RNN) which is suitable for sequential data and compared the performance with the support vector machine (SVM), which is a traditional machine learning model. For all test sets, the SVM model show an accuracy of 0.73 and the RNN model have an accuracy of 0.83.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.6
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• pp.95-114
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• 2020

This paper, a meta-analysis of the effect of the start-up support policy on the start-up performance was conducted to examine the effect of the start-up support policy on the start-up performance of beneficiary companies and to provide theoretical and practical implications to support organizations and practitioners. To this end, 35 papers containing the correlation coefficient, which is a positive statistical value, were selected from the previous studies in academic journals and dissertations published in Korea from 2007 to 2020. In the preceding study of the start-up support policy, the independent variables include funding, education support, facility/equipment support, network support, mentoring support, consulting support, marketing support, management support, technical support, manpower support, and finance as a dependent variable. The effect size of the impact on aptitude and non-financial performance was reviewed. The pattern of the effect size was presented as a forest plot for easy visual understanding, and outliers were verified through sensitivity analysis for small-study-effect data with publication convenience. As a result of analyzing the effect size of the government-supported policy, it was verified that the effect size was generally medium or higher, affecting the entrepreneurial performance. Among the independent variables, the factor that has the greatest effect on startup performance is manpower support, followed by technical support, marketing support, management support, facility/equipment support, education support, mentoring support, funding, network support, and consulting support. It was analyzed that the effect size was large in order. As the 「Small and Medium Business Startup Support Act」 was recently reorganized from the manufacturing industry to digital transformation and smartization on October 8, 2020, the start-up support policy should consider the start-up stage and verify the priorities to organize the budget.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.3
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• pp.89-101
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• 2022

This study investigated the effects of individual characteristics (entrepreneurial self-efficacy) and environmental characteristics (social support, government support policy) on entrepreneurial intention for college students in Korea and China. In particular, the moderating effect of differences between countries (Korea and China) was demonstrated in the relationship between individual and environmental characteristics and entrepreneurial intention. The results of the empirical analysis of 626 Korean and Chinese university students are as follows. First, all of the entrepreneurial self-efficacy, social support, and government support policies perceived by Korean college students had a positive effect on entrepreneurial intention. In particular, Korean college students' entrepreneurial intentions were influenced in the order of social support, entrepreneurial self-efficacy, and government support policies. Second, all of the entrepreneurial self-efficacy, social support, and government support policies perceived by Chinese college students had a positive effect on start-up intention. In particular, entrepreneurial intention of Chinese college students was influenced in the order of government support policy, entrepreneurial self-efficacy, and social support. Third, the relationship between environmental characteristics (social support, government support policy) and entrepreneurial intention was adjusted by differences between countries. First, the positive relationship between social support and entrepreneurial intention was generally higher for Chinese college students than for Korean college students. In addition, the positive relationship between government support policy and entrepreneurial intention was higher for Chinese college students than for Korean college students as the level of awareness of government support policy increased. Finally, theoretical and practical implications for the intention of Korean and Chinese college students to start a business were presented, and the limitations of the study and future research directions were presented based on this study.

• STI Policy Review
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• v.1 no.4
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• pp.21-28
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• 2010

This study analyzes the establishment of venture companies and the interaction of venture ecosystem components (the core factors of venture ecosystems) with a focus on venture companies, venture capital, and the return market. Government support policies are understood as a catalyst for the venture ecosystem and this study will analyze the implications of government involvement by identifying the role of government policies in the venture ecosystem. According to the results of the empirical analysis with data on confirmed venture businesses by the Small and Medium Business Administration (SMBA), policies that provide direct support to venture companies did not have a significant influence on the establishment of new ventures. However, new investments by venture capital show a statistically significant positive effect and signify that the new investment is an important factor in vitalizing the establishment of new venture businesses and that the economic conditions of the return market have a positive effect. The establishment of venture businesses responds to the changes in real and vertical markets with greater resilience compared to government policies. Given the unique nature of the Korean venture ecosystem that responds to the market with greater resilience than government policies, there must be increased efforts to recover the confidence of the capital markets for venture capital in order to promote improved efficiency.

• Journal of Digital Convergence
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• v.13 no.1
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• pp.77-83
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• 2015

This study, according as the limits on learning and unsatisfaction about e-learning are emerging and the structural contradictions of the e-learning industry are continuing, was carried out to present the policy alternatives for solving these. As a means for overcoming the limitations of e-learning and the healthy growth of e-learning industry, this study presents the application of Bigdata in e-learning and proposes several practical challenges of policy. Policy action plans are technology development support, professional manpower support, SME application support, legal improvement.

• Journal of Korean Society of Rural Planning
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• v.25 no.1
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• pp.39-50
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• 2019

The purpose of this study is to figure out the current condition of local governments (Si or Gun) to implement rural development policy in the face of the central government's drive for increasing devolution. Since late 1990s or early 2000s when scope of rural policy began to expand quantitatively, there has been considerable increase in rural residents' participation into community projects as a whole. Nevertheless, there exists regional differentiation in local governments' efforts to systematically support rural development projects (CRDP: Comprehensive Rural Development Programme) and community activities by setting up intermediary organizations or hiring rural development professionals in a public office. According to this survey on local government officials, regions that have made such efforts to support rural policy at a local level, show more advanced level of institutional capacity than other regions in local decision making process for CRDP, role of strategic rural developmental plans, vitality of community actors, etc. In the era of increasing devolution, these differences can be expected to result in diverging performances of each area in regionalized rural policy. The central government needs to introduce EU's LEADER-type rural development programmes to support community acitivities by various local actors and at the same time promote local governance building for rural policy, adopting institutional rewarding system such as rural planning contract.

• Journal of Distribution Science
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• v.21 no.12
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• pp.113-125
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• 2023

Purpose: Support policies for small and medium-sized retailers (SMSRs) have been promoted in various ways over the past 20 years, but they are generally regarded as unsuccessful. The purpose of this study is to analyze the process and impact of policy changes, identify the reasons for the lack of success, and explore policy alternatives. Research design, data and methodology: This study explored major policies in various categories such as the retail industry, traditional markets, and Micro-Enterprises from the mid-1990s to the present. It also analyzed the short- and long-term impacts of major policies at the retail format level like SMSRs, using data from Statistics Korea's service industry survey. Results: This research found that sudden shifts in policy philosophy conflicted with the existing market structure and reduced the effectiveness of policies. It also found that policies aimed at improving competitiveness at the SMSRs-level had some effect, while polices aimed at supporting expenses at the individual store-level were difficult to achieve their intended purpose. Conclusions: The failure of the policy to support SMSRs is fundamentally due to the late response and conflicts between policies. It was also not successful due to the policy's focus on individual store-level expenses and maintaining employment rather than structural improvements of SMSRs format.

• Proceedings of the Korean Society of Precision Engineering Conference
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• 2013.05a
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• pp.783-784
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• 2013

• Journal of Families and Better Life
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• v.26 no.5
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• pp.259-277
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• 2008

Traditional familism and family value is known as the value that most Koreans share with. Strong family solidarity and family-centered perception among Koreans influences other social values and ideology. Under the family value, caring for family members is family responsibility instead of government responsibility. Previous studies argued that the family value played a role to impede the development of family policy in Korea. The aim of this study was to explore a relation between the family value and the needs for care-support family policy. This study investigated how the family value were related to the specific needs for care-support family policy. The data were drawn from the Seoul Families Survey conducted on 2006 by Seoul Women and Family Foundation. The survey data consisted of 2,500 married males and females living in Seoul. The statistical techniques used for analysis were frequencies, means, t-test, ANOVA, crosstabs, multiple regression models, and multinomial logit models. The major findings of this study were as followings. First, while the traditional familism appeared to be held at a certain level, the general attitudes towards cohabitation, divorce, and single-parent family seemed to be less traditional. Second, the familism was found to be partly associated with the needs for the care-support family policy. The respondents who had less traditional value on arriage and child-rearing showed the higher level of needs for daycare center. This finding implied that nontraditional attitudes were related to the needs for an alternative care service such as caring through facilities rather than to the needs for supportive or complementary services. Lastly, the respondents who had higher level of traditional familism showed a higher preference for direct economic service (supportive service) than for other types of service in child care. And the less traditional their attitudes towards marriage and child-rearing, the more likely they are to prefer flexible child care services and programs to other types of child care services. These results implied that the family value was partly influential to family policy. However, it is worthy to note that the family value was related to family policy preference rather than to family policy needs. In other words, traditional family value appeared to influence the types of family policy rather than the level of needs for family policy.