• Journal of Venture Innovation
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• v.6 no.2
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• pp.41-65
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• 2023

This study was conducted to empirically analyse the factors that influence SMEs' intention to adopt ESG. For this purpose, we first derived the variables of usefulness of ESG and ease of adoption. In addition, we adopted CEO's will because of the importance of CEO's role in decision-making in SMEs. In addition, we added customer's request, government support, and credit evaluation reflection as institutional factors for ESG management. To examine the mediating role of attitudes and employees' innovation resistance in these relationships and how they affect ESG adoption, we set up a research model. These factors were used in the empirical analysis with 368 valid responses from the survey. Hierarchical regression analysis method using SPSS 24.0 was used for statistical analysis, and Process Macro 4.0 based on SPSS 24 was used for mediation and moderation effects. The results of the empirical analysis of this study showed that the usefulness of ESG adoption, ease of adoption, CEO's will, customer's request, government support, and credit evaluation reflection all had a positive and significant effect on the intention to adopt ESG management. In particular, among the variables affecting ESG adoption, CEO's will was found to be the most influential. Attitudes were also found to play a mediating role between the influencing factors and intention to adopt ESG management, as well as the mediating effect of employee' innovation resistance. The academic implications of this study include the identification and empirical testing of each of the influencing variables of ESG management adoption in the scarce literature on ESG in SMEs, and the prioritisation of the influence of these factors on adoption intention, which can be used to promote the adoption of ESG management. In terms of practical implications, it is important for SMEs to have a win-win relationship with large corporations, an ecosystem such as government support, in order to improve CEO awareness and motivate the CEO's will, and for smooth introduction of ESG management, it is necessary to find ways to reduce resistance through sufficient communication with organizational members to make them aware of the need.

• Korea Trade Review
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• v.48 no.4
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• pp.303-320
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• 2023

Recently, import and export companies have been using T/T remittance and Surrender B/L more frequently than L/C when selecting the process and method of trade payment settlement. The new trade and logistics environment is thriving in the era of the Fourth Industrial Revolution (4IR). Document-based trade transactions are undergoing a digitalization as bills of lading or smart contracts are being developed. The purpose of this study is to verify whether exporters choose export payment types based on negotiating factors. In addition, we would like to discuss the application of the characteristics of the new trade and logistics environment. Data for analysis was collected through surveys. The collection method consisted of direct visits to the company, e-mail, fax, and online surveys. The survey distribution period is from February 1, 2023, to April 30, 2023. The questionnaire was distributed in 2,000 copies, and 447 copies were collected. The final 336 copies were used for analysis, excluding 111 copies that were deemed inappropriate for the purpose of this study. The results of the study are shown below. First, among the negotiating factors, the product differentiation of exporters did not significantly affect the selection of export payment types. Second, among the negotiating factors, the greater the purchasing advantage recognized by exporters, the higher the possibility of using the post-transfer method. In addition to analyzing the results, this study suggests that exporters should consider adopting new payment methods, such as blockchain technology-based bills of lading and trade finance platforms, to adapt to the characteristics of the evolving trade and logistics environment. Therefore, exporters should continue to show interest in initiatives aimed at digitizing trade documents as a response to the challenges posed by bills of lading. In future studies, it is necessary to address the lack of social awareness in Korea by conducting advanced research abroad.

• Journal of the Daesoon Academy of Sciences
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• v.46
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• pp.69-122
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• 2023

This study is an integral exploration of Feng Shui associated with the area around the birthplace of Kang Jeungsan, a sacred site of Daesoon Jinrihoe which holds that the Supreme God descended in human form at that location (through Kang Jeungsan). Through an on-site Feng Shui survey, the main focus of the research method was to explore the Feng Shui configurations around Kang Jeungsan's birthplace especially as it pertains to the connections among geomagnetic veins which lead to the Mount Shiru area. As a method of investigation, this study explored the Feng Shui of Gaekmang-ri Village and the geomantic veins leading up to Mount Shiru. This involved examining the landforms, topography, water flow, and geomantic veins of the area to reveal the overall Feng Shui configurations. Throughout the course of that on-site survey, this study first examined Mount Duseung and Mount Bangjang, also known as Mount Yeongju (sometimes collectively known as Mount Samshin), Mount Dongjuk, Mount Mangje-bong, Mount Maebong, and Mount Shiru. Then, this study stated some of the underlying issues through a scholarly approach based on various theories such as traditional geographical texts and theories on mountain-growth and water-flow from the perspective of Feng Shui. In particular, attention was paid to theoretical aspects of the uninterrupted and undulating flow of the terrain leading to Shiru Mountain. As a result, from a Feng Shui point of view, the connected network geomantic veins in the area of Kang Jeungsan's birthplace and the feng shui features and conditions were all examined through an on-site survey. The survey results revealed that the area forms a large Feng Shui site due to the vast interconnectivity among all the mountains that extend from the Honam vein and form organic relationships with one another. This even includes Mount Samshin in Honam. Considering the geographical conditions that formed a site that enabled harmony between divine beings and humankind, the surrounding place names also provide allusions to the understanding of the birth of Kang Jeungsan as the descent of Supreme God into the human world through the historical figure, Kang Jeungsan. This area is an ideal spot with a propitious spatial arrangement in terms of its Feng Shui. Feng Shui analysis reveals the site to be a place that holds an earth energy-hub transmitting a great energy of nature that cannot be measured by human power alone.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.1
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• pp.253-270
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• 2023

Research on investment determinants of accelerators, which are attracting attention by greatly improving the survival rate of startups by providing professional incubation and investment to startups at the same time, is gradually expanding. However, previous studies do not have a theoretical basis in developing investment determinants in the early stages, and they use factors of angel investors or venture capital, which are similar investors, and are still in the stage of analyzing importance and priority through empirical research. Therefore, this study verified for the first time in Korea the discrimination and effectiveness of investment determinants using accelerator investment determinants developed based on the business model innovation framework in previous studies. To this end, we first set the criteria for success and failure of startup investment based on scale-up theory and conducted a survey of 22 investment experts from 14 accelerators in Korea, and secured valid data on a total of 97 startups, including 52 successful scale-up startups and 45 failed scale-up startups, were obtained and an independent sample t-test was conducted to verify the mean difference between these two groups by accelerator investment determinants. As a result of the analysis, it was confirmed that the investment determinants of accelerators based on business model innovation framework have considerable discrimination in finding successful startups and making investment decisions. In addition, as a result of analyzing manufacturing-related startups and service-related startups considering the characteristics of innovation by industry, manufacturing-related startups differed in business model, strategy, and dynamic capability factors, while service-related startups differed in dynamic capabilities. This study has great academic implications in that it verified the practical effectiveness of accelerator investment determinants derived based on business model innovation framework for the first time in Korea, and it has high practical value in that it can make effective investments by providing theoretical grounds and detailed information for investment decisions.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.6
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• pp.195-208
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• 2022

The role of venture CEO and their intrinsic capabilities on organizational performance can be determined by the level of resource synchronization initiated by the focal managers. Despite the important role of venture CEOs, a systematic lack of in-depth theoretical and empirical studies on ruminating the relationship between the effects of a CEO's capabilities and organizational performance depending on the level of resource synchronization exist for the rationale of investigation. To supplement the limitations of previous studies, this research empirically analyzes the role of managers specifically synchronizing organizational resources that affect organizational performance in the professional sports industry. Based on the entrepreneurship theory and resource-based view (RBV), this research conceptualizes the roles of venture CEO and basketball head coach in the professional sports industry as very similar in terms of organizational structure and performance mechanism embedding entrepreneurial characteristics necessary for managing organizational resources. In this research, we hypothesized (1) organizational resource synchronization will mediate the positive relationship between the ability of professional basketball head coach and organizational performance and (2) the indirect effect of the professional basketball head coach's capabilities on organizational performance mediated by resource synchronization will be moderated by the capabilities of players. To test these hypotheses, we utilized the PROCESS macro model 58 with the empirical data of 9 seasons (2013~2014-2021~2022) of 30 National Basketball Association (NBA) and 10 Korean Basketball League (KBL) teams. The statistical results showed that (1) resource synchronization mediates the positive relationship between professional basketball head coach capabilities and organizational performance and (2) the capabilities of players moderated the indirect effects of the abilities of head coaches on team performance via resource synchronization. This paper contributes to both academic and practical domains of entrepreneurship by empirically testing the research model through objective professional sports data.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.4
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• pp.193-206
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• 2023

In a workplace, workers exhaust their resources due to workplace adversity or acquire resources through job-related passion. The purpose of this study is to verify the factors that affect the conversion of workers to entrepreneurs and through what paths entrepreneurial intention is generated. To this end, the effects of workplace adversity and job-related passion on entrepreneurial intention were explored with workers in Korea. Also, by empirically analyzing the effects of workplace adversity and job-related passion on entrepreneurial intention through the mediation of job-related creativity, this author attempted to derive the factors and implications associated with the conversion of workers to entrepreneurs. Analyzing 333 workers' data acquired through online surveys with the statistical packages of SPSS and AMOS, this study has gained the following results. First, workplace adversity is found to have positive(+) effects on entrepreneurial intention. This implies that workplace adversity that is negatively regarded is rather a crucial variable that increases entrepreneurial intention. Second, workplace adversity has positive(+) effects on job-related creativity. It means that job-related creativity is an effective factor to overcome workplace adversity. Third, job-related passion is found to have positive(+) effects on entrepreneurial intention. The passion to concentrate on the resources secured is an important factor to elevate entrepreneurial intention. Fourth, job-related passion is verified to have positive(+) effects on job-related creativity. It implies that creative methods can be effective in achieving the goal. Fifth, job-related creativity is found to have positive(+) effects on entrepreneurial intention. Creativity is an intention or action that precedes starting up a business, and it is judged that high job-related creativity reflects high expectation about the possibility of success in starting up a business. Sixth, job-related creativity is found to have mediating effects in correlation between workplace adversity and entrepreneurial intention. Seventh, job-related creativity is found to have mediating effects in correlation between job-related passion and entrepreneurial intention. This means that job-related creativity is an effective factor to alleviate the adversity of workers and increase job-related passion in the process of becoming entrepreneurs. Academically, there were few previous studies related to the adversity of workers in Korea. As this study targets office workers, it can be said that it is a differentiated study extending the range of subjects. Also, practically, it has been learned that negative workplace adversity, too, is an important variable that affect entrepreneurial intention positively. This is practically meaningful in terms of office workers' career management because even in adverse situations that are negative, starting up a business through work experiences may work as an alternative.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.4
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• pp.165-175
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• 2023

In venture creation research, studying 'entrepreneurial leadership' is important for uncovering and comprehending the underlying causal process in innovative behavior performance. Although previous studies provide that entrepreneurial leadership enhances followers' innovative behavior, there is few research on entrepreneurial leadership and followers' characteristics interaction. The present study's focus is paradoxical effects of entrepreneurial leadership on self-efficacy and innovative behavior. On the basis of individual regulatory focus, this study suggests that interaction effects of entrepreneurial leadership and followers' regulatory focus differed in promotion view and prevention view followers' innovative behavior. To strengthen the casual mechanism, this study conducted in priming experiment method using employees in SMEs. This study used a 2(entrepreneurial leadership vs. control) x 2 (regulatory focus: promotion vs. prevention) between-participants design. The results of this study provide that (1) Individuals in promotion focus especially benefited from entrepreneurial leadership in terms of its effect on their self-efficacy and innovative behavior; (2) whereas entrepreneurial leadership was negatively related to self-efficacy and innovative behavior of followers' prevention focus. In sum, results of the present study supporting evidence for hypotheses, combined effect of entrepreneurial leadership and regulatory focus on innovative behavior through self-efficacy. Experimental results confirmed hypotheses of this study, revealing that promotion focus show more innovative behavior than prevention focus when their leaders' leadership style is entrepreneurial leadership. Also, the paradoxical effect of entrepreneurial leadership and regulatory focus of followers on innovative behavior was mediated by followers' self-efficacy. This study helps explain how leaders' entrepreneurial leadership boost followers' innovative behavior, particularly for those employees who have promotion focus. The current study contributes to the theory of entrepreneurial leadership and regulatory focus and innovation literature. Findings of this study shed light on the organizational processes that shape innovative behavior in venture/startup corporations and provide contributions for venture business field.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.2
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• pp.65-80
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• 2022

Despite the uncertainty and risky factors of startups, the special and critical role of accelerators in carrying out professional nurturing and investment for them is becoming increasingly significant in the startup social-system. However, academic research on investment determinants that have a profound impact on the survival of accelerators is lacking, and there are only a few empirical studies on the classification and importance of factors, and they do not enjoy the benefits of theoretical studies. This study proposes a business model innovation framework based on the business model innovation theory that reflects the nature and properties of startups that are investment targets of accelerators and derives 12 investment decision factors. The framework defines that the target, direction, and performable force of startup innovation are a business model, strategy, and dynamic capability. Besides, the framework analyzes the investment decision factors of the existing accelerators based on the business model innovation framework to verify the suitability and sufficiency of the composition. As a result of the analysis, first, most of the items were faithfully composed from a static point of view of business model innovation, but it was found that the factors related to the core activities to evaluate the activity and customer relationship were insufficient. Second, from the strategic point of view, the necessity of developing factors that can encompass the definition and content of core resources, which are internal strategic factors, was raised. Third, from the dynamic point of view, it was found that many of the investment determinants of accelerators were concentrated on the lower level of dynamic competencies. This can be judged as a result of reflecting the characteristics of a startup that needs to develop a solution with few resources and a small number of team members. In addition, the roles and interrelationships between each factor are not clear, thus it was found as a limiting point for startups to view and evaluate the direction and process in which startups dynamically innovate their business models. This study is considerably differentiated in that it provides a business model innovation framework and offers a theoretical basis for investment determinants by deriving the investment determinants of accelerators based on the framework and design the foundation for subsequent research. The business model innovation framework presented in this study has great implications in that it contributes to the achievement of startups, accelerators, and startup support organizations.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.1
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• pp.157-175
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• 2022

At this moment, a paradigm shift is taking place across all sectors of society for the transition movements to the digital economy. Various movements are taking place in the global agricultural industry to achieve innovative growth using big data which is a key resource of the 4th industrial revolution. Although the government is making various attempts to promote the use of big data, the movement of the agricultural industry as a key player in the use of big data, is still insufficient. Therefore, in this study, effects of performance expectations, effort expectations, social impact, facilitation conditions, based on the Unified Theory of Acceptance and Use of Technology(UTAUT), and innovation tendencies on the acceptance intention of big data were analyzed using the economic and practical benefits that can be obtained from the use of big data for agricultural-related companies as moderating variables. 333 questionnaires collected from agricultural-related companies were used for empirical analysis. The analysis results using SPSS v22.0 and Process macro v3.4 were found to have a significant positive (+) effect on the intention to accept big data by effort expectations, social impact, facilitation conditions, and innovation tendencies. However, it was found that the effect of performance expectations on acceptance intention was insignificant, with social impact having the greatest influence on acceptance intention and innovation tendency the least. Moderating effects of economic benefit and practical benefit between effort expectation and acceptance intention, moderating effect of practical benefit between social impact and acceptance intention, and moderating effect of economic benefit and practical benefit between facilitation condition and acceptance intention were found to be significant. On the other hand, it was found that economic benefits and practical benefits did not moderate the magnitude of the influence of performance expectations and innovation tendency on acceptance intention. These results suggest the following implications. First, in order to promote the use of big data by companies, the government needs to establish a policy to support the use of big data tailored to companies. Significant results can only be achieved when corporate members form a correct understanding and consensus on the use of big data. Second, it is necessary to establish and implement a platform specialized for agricultural data which can support standardized linkage between diverse agricultural big data, and support for a unified path for data access. Building such a platform will be able to advance the industry by forming an independent cooperative relationship between companies. Finally, the limitations of this study and follow-up tasks are presented.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.5
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• pp.1-16
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• 2022

Although start-up is a key national strategy to increase national competitiveness and create employment, the survival rate of start-ups has not improved significantly. This is an important reason for the inability to provide timely and appropriate support to startups, which are in the early stages of start-up, due to the unique limitations of existing start-up support institutions and investors. The relatively recent accelerator is attracting attention as a subject of solving the above problems through professional incubation and investment. However, there are only a few empirical studies on investment determinants that affect the survival and success of accelerators, and there is a lack of theoretical evidence. Accordingly, in previous studies, 12 investment determinants were derived from a static, strategic, and dynamic perspective as accelerator investment determinants based on a business model innovation framework. This study subdivided the accelerator investment determinants derived through previous studies into 21 and analyzed the importance and priority of each factor using AHP (Analytic Hierarchy Process) analysis technique for domestic accelerator investment experts. As a result of the analysis, the top factors of importance of accelerator investment determinants were in the order of 'human resources', 'customer and market', 'intellectual resources', and 'entrepreneur's ability to realize opportunities'. It can be seen that the accelerator considers the core competencies of startups to implement solutions as the most important factor when making startup investment decisions. It was also confirmed that accelerators are strategic to create a clear value proposition and differentiated market position based on the core competitiveness of startups, and that the core value delivery method prefers a market-oriented business model and recognizes entrepreneurs's innovation capability is an important factor to realize a business model with limited resources in a rapidly changing market. This study is of academic significance in that it analyzes the importance and priority of accelerator investment determinants through demonstration as a follow-up study on accelerator investment determinants derived based on business model innovation theory that reflects the nature, goals, and major activities of accelerator investment. In addition, it is of practical value as it contributes to revitalizing the domestic startup investment ecosystem by providing accelerators with theoretical grounds for investment decisions and specific information on detailed investment determinants.