• The Journal of Asian Finance, Economics and Business
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• v.9 no.4
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• pp.299-306
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• 2022

Entrepreneurs with behavioral finance biases are more likely to make irrational or financially detrimental decisions. Understanding financial behavior biases can assist in making sound financial decisions. Behavioral finance is a new topic that can assist researchers in better understanding investor behavior and preferences while purchasing and selling stocks. Using measures such as independent t-tests and average Likert five-point scale scores, this study seeks to determine how entrepreneurs make investment decisions and whether gender makes a difference. The study is empirical, and data from 1000 entrepreneurs were collected through convenience sampling. The study's main findings show that there are numerous factors to consider while investing in stocks, including family planning, children's education, investment security, and recurring income. Both men and women attempt to invest in many asset classes, but certain investments are extremely risky, while others are low risk. As a result, investors should assess risk based on their age and experience rather than their gender; this indicates that an investment in venture capital has nothing to do with gender but everything to do with the investor's age.

• Journal of Technology Innovation
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• v.4 no.1
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• pp.1-26
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• 1996

Traditional studies of new venture performance have focused on the characteristics of entrepreneurs and have shown conflicting results on the relationship between the characteristics and performance of new ventures. Recently, some researchers have broadened their search to include aspects of the industry and the strategy of new ventures. The purposes of this study are to identify wtrategic archetypes of new ventures based on the taxonomic approach and to explain the differences in new venture characteristics and performance among strategic archetypes. To find the strategic archetypes, 114 new venture CEOs from various industries were asked to describe their ventures' competitive strategy through 19 questionnaire items on competitive methods. Using factor analysis and subsequent cluster analysis, four archetypes were identified such as : versatile type, technology-driven type, market-oriented type, and cost reduction type. The results imply that there exist different types of venture strategy even among new technology-based venture firms in Korea, and show the differences in performance among strategic archetypes: market-oriented type and versatile type are better than cost reduction type in terms of growth rate and profitability. Because the venture strategy in identified as a major determinant of the venture performance in this study, the choice of venture strategy suitable for firm's industrial characteristics and internal resource bases becomes a very strategic decision for firm's sustained growth. Further studies are needed to strengthen some methodological limitations of the study.

• Journal of Venture Innovation
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• v.5 no.1
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• pp.1-18
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• 2022

There is growing empirical evidence that passion is an important part of entrepreneurship and influences the intentions, behaviors and performance of entrepreneurs, employees and startups. Passion is especially important in an entrepreneurial context, given the effort and challenge that entrepreneurs starting a startup must overcome. The purpose of this study was to confirm the effect of the passion of startup entrepreneurs participating in the accelerator incubation program and the passion of accelerator entrepreneurs and managers on the entrepreneurial performance of incubator startups. In addition, we tried to confirm whether entrepreneurial self-efficacy plays a mediating role in this influence relationship. The survey was conducted online by startups entrepreneur who completed the accelerator incubation program. A total of 330 questionnaires were used for the analysis. As a result of the empirical analysis, it was confirmed that the passion of startup entrepreneurs and the passion of accelerator entrepreneurs and managers all had a positive (+) effect on the entrepreneurial performance of incubator startups. The influence of passion was found to be high in the order of startup entrepreneurs, accelerator entrepreneurs, and accelerator managers. It was confirmed that entrepreneurial self-efficacy plays a mediating role between the passion of startup entrepreneurs, the passion of accelerator entrepreneurs, and the entrepreneurial performance of incubator startups, respectively. However, no significant mediating role was identified between the passion of accelerator managers and the entrepreneurial performance of incubator startups. This study is significant in empirically confirming for the first time that the passion of accelerator entrepreneurs and managers has a positive effect on the entrepreneurial performance of incubator startups. The passion of accelerator entrepreneurs and managers is playing an important role as a hidden lynchpin in creating the entrepreneurial performance of incubator startups. In particular, since the passion of accelerator entrepreneurs has a great influence on the performance of incubator startups, it is necessary to recognize this fact and carefully examine their passion reputation when startups select accelerators.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.6
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• pp.175-183
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• 2016

The government set up "national happiness, the hope of a new era of national vision under' job center of the creative economy" to achieve by national goals in the first and figure achieved through the establishment of new growth engines of the youth unemployment problem solve and national level there are a number of business start-up support. September 8, 2015 announced the Government's look at the '2016 Year of the budget, the government for new growth engines greatly promoted the venture entrepreneurship ecosystem revitalization and research and development (R & D) the business for enhanced performance in 2017. According to the direction of this study is to evaluate the current creative economy business incubator at the comparison whether the correct orientation mainly entrepreneurs, entrepreneurs preliminary recognition of student entrepreneurship ecosystem. Entrepreneurs 113 people in that way, 71 people pre-entrepreneurs, students 60, workers were founding agencies conducted an online survey of 47 people, 16 people Investors, 50 public and 11 additional persons including a total of 368 people. This study is in line with the orientation of these entrepreneurs to create economic status and recognition of the Republic of Korea entrepreneurship ecosystem, pre- entrepreneurs, students will examine the comparative analysis around. Analysis, social perception of entrepreneurship is somewhat higher than it was confirmed that the negative response of 32.2% to 36.3% of positive response. Social awareness of entrepreneurs showed a 2-fold higher response rate than the negative of response of 17.1% to 41.7% responding that positive recognition for the current start-up environment is bad, the response is good response to higher response rate than 23.5% to 41.1% It showed. The percentage of responses that better respect the entrepreneurship environment of the future Republic of Korea showed a higher response rate than the rate of 23% in response to deteriorate to 41.2%, with 52.9% awareness is the percentage that responded that the bad part about the ruthless Korea's entrepreneurship environment in China good part as response rate approximately three times greater than the 17.7% showed high response rates. Social awareness of entrepreneurs experience the presence of the founding start-up experience was confirmed that the more negative the number increases, the more the contrary the number of start-up experience increased awareness of the current and future environment of entrepreneurship was identified as a positive entrepreneurship environment. Also recognized was confirmed to change the parent of the more positive changes in the start-up of entrepreneurs doctor also positive about entrepreneurship, start-up entrepreneurs start with a doctor's motivation for founding non-economic reasons than for economic reasons has confirmed Higher. This study showed the overall level overview analysis of the status and recognition of the Republic of Korea entrepreneurship ecosystem. Future studies need to be a proposal for an existing previous studies for more precise direction to go forth to analyze the entrepreneurship ecosystem with a focus on problems and improvement of the Republic of Korea entrepreneurship ecosystem.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.1
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• pp.117-137
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• 2019

In young entrepreneurs, the individual situation of opportunity discovery is very important. It is very important that the opportunities that are created for a particular individual entrepreneur are also recognized and assessed through the process. The need for the development of entrepreneurial opportunity competencies, which have a low proportion of opportunistic entrepreneurship, is low in the entrepreneurship education. In particular, young entrepreneurs are in desperate need of opportunistic entrepreneurship. The purpose of this study is to examine the effect of entrepreneurship motivation on entrepreneurial opportunity competence, using entrepreneurial orientation and entrepreneurship orientation as mediation variables for preliminary young entrepreneurs (19-39 old). In the case of young entrepreneurs, there is a tendency to study entrepreneurship policies and education through the system of youth entrepreneurship schools, mainly on college students and youths, and on the effects of institutional support on entrepreneurship. There is little research on the effect of a entrepreneurial motivation on the entrepreneurial opportunity competence needed to promote an entrepreneurial venture in a model with multiple mediators. The purpose of this study is to investigate the effect of start - up motivation on the entrepreneurial opportunity competence. To do this we analyzed 374 questionnaires collected from preliminary young entrepreneurs in Seoul and Gyeonggi provinces. The results of the analysis using SPSS v22.0 and Process macro v3.0 showed that the motivation of start - up had a significant effect on both opportunity recognition and opportunity evaluation of entrepreneurial opportunity competence. Second, motivation of entrepreneurs has a significant effect on entrepreneurial efficacy. Third, entrepreneurial efficacy has a significant effect on entrepreneurial orientation. Fourth, entrepreneurial orientation has a significant effect on entrepreneurial opportunity competence. Fifth, there is a significant indirect effect between entrepreneurial motivation and entrepreneurial opportunity recognition when passing through entrepreneurial orientation, entrepreneurial efficacy and entrepreneurial orientation at the same time, But indirect effects was insignificant when only entrepreneurship efficacy is passed. There is a significant indirect effect on all mediators between entrepreneurial motivation and entrepreneurial opportunity valuation. It is suggested that strengthening education on entrepreneurship is necessary to cultivate awareness of entrepreneurship opportunities and strengthening education on both entrepreneurial efficacy and entrepreneurship is necessary to cultivate evaluation of entrepreneurship opportunities by type of entrepreneurial motivation.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.5
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• pp.141-155
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• 2014

This study examines the effect of previous work experience on the long-lived venture firm called 'Good Quality startup'. The research explores entrepreneurs of 16 mobile application startups that were invested by the venture capital, 'K-ventures', through the resource-based view. The results show that all of entrepreneurs had previous experiences of their business domain. They accumulated human resources such as technology capabilities, knowledge of domain, know-how, networking through learning-by-doing. Entrepreneur's human resources are the key factors for opportunity recognition and realisation process; and it is also on the ground that venture capital determines investment. Venture capital provides financial resources, management support and strong network for venture firm. Technology resources, financial resources, know-how and networking are the core managerial resources to be a long-lived venture firm called 'Good Quality Startup'. This research is an exploratory case study based on previous experience and 'good quality entrepreneurship'. The empirical study hereafter is needed.

• Journal of Venture Innovation
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• v.5 no.2
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• pp.35-48
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• 2022

This study was conducted to analyze the effect on entrepreneurial intention and empirically analyze which factors have the greatest influence. To this end, self-achievement motivation, indirect experience, role model, awareness of entrepreneurs, and fear of business failure were set as independent variables as factors influencing entrepreneurial intention. In order to empirically analyze this, 399 valid samples for the general public were analyzed. SPSS 25.0 was used for statistical analysis. As a result of the empirical analysis of this study, self-achievement motivation, indirect experience, role model, awareness of entrepreneurs, and fear of business failure all had a positive and significant effect on entrepreneurial intention. The results of this study confirmed that self-achievement motivation had the greatest influence among the factors affecting entrepreneurial intention. It is significant in that indirect experiences and role models such as theoretical entrepreneurship lectures, special entrepreneurship lectures, and parents or acquaintances influence entrepreneurial intention.

• Asian Journal of Business Environment
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• v.3 no.2
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• pp.5-15
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• 2013

Purpose - This pilot study explores the gap between venture capitalists and young business graduates in Pakistan. Though the young graduates remain enthusiastic about choosing entrepreneurship as a profession, their success is subject to financial constraints. Research design, data, methodology - We administered a Likert-scale based questionnaire to 200 business graduates from June to July 2012, and interviewed ten venture capitalists from Islamabad and Lahore-two highly business oriented cities of Pakistan-to collect the data. The survey participation was on a voluntary basis without any financial sponsorship. Findings- There is a communication gap between the two parties (venture capitalists and business graduates), and a lack of trust in the entrepreneurial education and training offered in the educational institutions in Pakistan. The study, however, reveals the leading role of the Government in reducing this gap through certain measures. Conclusions - Some measures that can reduce the gap between venture capitalists and young graduates are: association of business schools with industry; financial institutions'initiatives to financially support the small and medium level projects of the economics and business students during their studies; establishment of placement bureaus in the business schools; and organization of regular open houses in the universities.

• Journal of Venture Innovation
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• v.6 no.1
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• pp.35-57
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• 2023

The purpose of this study was to analyze the moderating effect of venture start-up and general start-up based on what kinds of entrepreneurs' personal characteristics, business capabilities, and start-up motivation factors affecting start-up satisfaction. This study conducted an online survey of companies who received credit guarantee for start-ups from KCGF(Korea Credit Guarantee Fund), and finally collected 320 survey data. And it conducted statistical analyses such as frequency analysis, factor analysis, reliability analysis, correlation analysis, regression analysis, etc. using SPSS 24.0 statistics program. The results of the study were as follows. First, it is tested that creativity, one of entrepreneurs' characteristics, had a positive effect(+) on start-up satisfaction. Second, it is found that the failure burden, one of entrepreneurs' characteristics, had a negative effect(-) on start-up satisfaction. Third, experiences, one of entrepreneurs' characteristics, had not a significant effect on start-up satisfaction. Fourth, it was analyzed that business capabilities such as technology research and development, marketing, networking, and financing had a positive effect(+) on start-up satisfaction. Fifth, it is tested that the economic and self-realization motivation had a positive effect(+) on start-up satisfaction. Sixth, start-up satisfaction had a positive effect(+) on business performances. Last, it was analyzed that venture start-ups had a more positive effect than general start-up in the creativity, technology research and development, and the self-realization of start-up motivation affecting start-up satisfaction. And, it was found that venture start-ups have a less negative effect than general start-up in the failure burden affecting start-up satisfaction.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.4
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• pp.13-25
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• 2014

This study advances research on new venture by taking the organizational ecology perspective to explore the relationship between social legitimacy and new venture performance. We examine how entrepreneurs' organizing activity and social norm shape the social legitimacy. This paper also categorizes the social norms into three parts: social norm that is 1) supporting success achieved through one's own effort 2) encouraging start-up, and 3) promoting risk-taking. Using a dataset of PSED(Panel Study of Entrepreneurial Dynamics) from 2005 to 2011, we found that entrepreneurs' organizing activity has a positive effect on new venture performance. In addition, this study presents the moderating effects of 'liability of newness' that decreases the effect of organizing activity on new venture performance. Interestingly, with respect to the social norm, 'liability of newness' only moderates the relationship between start-up encouraging social norm and new venture performance.