• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.6
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• pp.27-38
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• 2018

The purpose of this study is to find out common investment decision factors for CVC's invested technology-based startups and analyze them. We examined 17 CVCs that invested in technology startups for three years and six months from 2015 to June 2018. As a result, the final 9 CVCs that can be used in this study were confirmed and 188 companies were analyzed. This study was conducted as a case study to propose and demonstrate CVC investment objectives and investment decision factors analysis model. The results of this study are as follows. First, CVC focused on strengthening investment. Second, In 2015, Invested in an average of 19 months of technology-based startups. In recent years, we invested in 36 months of proven technology-based startups. Thirdly, ICT service was the main business type of the invested startups. Fourth, the investors were concentrated on the stage of Series A~B. It is observed that CVC investment determinants have a significant impact on product or service and parent company relations. In addition, it was found that factors such as innovation, business planning competency, enterprising, strategic competency, leadership, and opportunity recognition competency were influential factors for the startups of invested companies and it was found that these factors are important for CVC investment decision. Understanding of CVC investment determinants presented in this study is based on the establishment of the investment process of the investee, entrepreneurship and management education program. The results of this study can be applied to the selection of excellent startups, entrepreneurship education programs, mentoring, development of coaching guidelines, and establishment of investment process of other investment institutions when investing in CVC.

• Journal of Digital Convergence
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• v.12 no.11
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• pp.141-157
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• 2014

This study explored the entrepreneurial intention of university students by empirical study on them and studied the various variables, which have impact on their entrepreneurial intention. The result of examination on the impact factors of each independent variable on entrepreneurial intention was as following. There were significant relation with individual ability in individual characteristics and with safety orientation, autonomy orientation, technology orientation and business orientation in career orientation. The examination result on the impact of entrepreneurial environment on entrepreneurial intention was as following. There was significant relation between individual network and entrepreneurial policy. It was also possible to find that a student, who received entrepreneurial education as one of control variables, has higher entrepreneurial intention than a student who did not receive entrepreneurial education. Especially, business orientation was the most significant factor on entrepreneurial intention among multiple significant variables. Therefore, diverse entrepreneurial education programs should be developed and supplied so that university students can create business idea of own and reinforce the design ability related to the business.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.1
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• pp.31-44
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• 2020

Accelerators that invest in early startups, as well as nursery and overall management, have recently emerged as "key players" in the startup ecosystem. This can be proved by the case where the number of domestic accelerators registered in the Korean Ministry of SMEs and Startups has recently reached 208. Accelerators provide the necessary education for early-stage companies, including guidance for a certain period of time, and support startups in ways such as demo days to attract subsequent investment after the seed investment. There is not much research in academia about what factors impact on these accelerators when making investment decisions at the time of seed investment. In this study, we checked the meaning and function of the accelerator and tried to analyze what factors affect on accelerators when making a decision to invest in startups. The research method is based on a literature survey of previous studies on investment decision-making factors of venture capital and angel investors, and a lens model and judgment analysis method through empirical research targeting 43 accelerator investment decision-makers. Empirical analysis shows that accelerators have three of the key factors to consider when choosing the first startup to invest and educate; entrepreneurs' entrepreneurial traits, their product and service expertise and a potential return on success. This will provide an opportunity for early startups to gain strategic access to accelerators when they need money or need a structured educational program. Also, the results obtained through this research will be a kind of guideline for startups to attract accelerators' investment. The significance of this study is that discriminatory evidence was presented on the accelerator determinants of investment, and it would be highly suggestive to startups and related public institutions.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.14 no.8
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• pp.3691-3695
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• 2013

This study focuses on the internalization process of service sector, especially on the foreign market entry modes of Korean healthcare industry. The paper examined the effects of country and firm specific factors, and strategic elements of the industry on the selection of foreign market entry modes by using multiple regression analysis. The findings indicate that firms' global experience and documented strategic assets have significant effects on the high control organizational types in the selection of entry mode while the other determinants including size of the firm were found to be less significance. This study provides the academic implications to the subject of the internationalization of Asian service industry and the practical reference to this highly specialized soft service sector.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.10 no.6
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• pp.177-186
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• 2015

This study is related to determination of the intention to watch a movie, which is affected by various emotional, environmental, and behavioral factors. In case of personal factors, personal taste formed on the basis of previously experienced movie related information affects selection of movies, while environmental factors are affected mostly by residental community experience, cognitive attitude, subjective norms, as well as the view of values. In this study, the determinants on decision to watch movie have been analyzed applying the theory of planned behavior. Taking into consideration that the determination, based on either personal factors or environmental factors, of consuming movie products stars from reasonable information collecting and that movie poster has been the primary source of information on movie products since the inception of the movie industry, this study analyzed tastes of movie watchers and many variables of movie poster format on determination of intention to watch movie. The results from this empirical study indicate that movie poster is effective means of low cost marketing inducing movie watching in terms of consuming minimum time and space with high speed of delivery while satisfying primary interest on the movie product. It is suggested movie posters should be prepared to make appeal to each generation of target consumers and be put on the market as a product of artistic work.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.6
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• pp.51-59
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• 2016

Recently the company is getting bigger and has many employees. Therefore, sometimes, the uniform internal marketing devices for whole employees are inappropriate because they are different demographic aspects. To find efficient internal marketing factors, this paper analyzes empirically the determinants of employee's satisfaction to their firm, by group based demographic aspects(male and female : 2 groups, ages : 3 group, employment period : 3 groups), for a insurance claim adjuster company As a result, it is found that the psychological factor has the statically significant determinant in all the 8 groups, with biggest positive coefficient in the 7 groups. Other factors, such as the organizational factor, the individual factor and spatial factor are statically significant determinant depending on the groups differently.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.5
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• pp.31-47
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• 2022

The TIPS, a representative public-private cooperative project to revitalize the start-up ecosystem, is a government supported policy that promotes successful commercialization through various start-up support for technology-based startups. The purpose of this study is to analyze the investment decision factors of the TIPS program and to derive priorities. In order to achieve the research purpose, first, the investment decision factors were derived through literature analysis, a Delphi surveys were conducted on investors and experts participating in the evaluation of the TIPS program, and an AHP analysis was conducted on 20 VCs to empirically analyze the priority of factors on investment decisions. As a result of the analysis, the importance of critical factors was confirmed in the order of entrepreneurs(team) > market > product/service > finance > network. The importance of detailed factors was found in the order of entrepreneur's reliability and authenticity > market growth and scalability > team members' expertise and capabilities > adequacy of current market size > new market creation. This study presented the capabilities of technology-based startups preparing to participate in the TIPS program by deriving factors that influence investment decisions from an investor's perspective and comparing and analyzing the importance. It is also meaningful that basic data on determinants of private-led investment decision-making were presented to stake-holders such as venture capital, accelerator, and start-up support institutions.

• International Area Studies Review
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• v.13 no.2
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• pp.393-416
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• 2009

This paper explores the technology resource-based determinants influencing internationalization performance of Korean software-related new ventures. On the ground of the study by Zahra et al.(2003), this paper aims to test empirically in Korea how interaction effects of tangible and intangible technological resources, as firm capability, are related to software new ventures' internationalization performance. The test results shows that intangible technological resource represented by R&D intensity is not significantly related to internationalization performance, but reveals that intangible technological resource represented by strength of technological cooperation network and technological reputation is positively and significantly associated with internationalization performance. Internationalization performance is more significantly and positively associated with the interactions of tangible technological resource and intangible technological resource than those resources respectively. The implication for the findings in the paper is that cutting edge technological capability of software new ventures can be more closely associated with internationalization performance if those resources are fully utilized or leveraged by intangible resources acquired by cooperation with local networks and created through technological reputation of new ventures.

• Information Systems Review
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• v.10 no.1
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• pp.21-45
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• 2008

Over the years a lot of organizations or enterprises are spending the majority of their IT budgets on IT resources procurement and maintenance. IT resources are typically duplicated in each Region, Division, and/or Business Unit. The biggest sources of cost savings come directly from the reduction in maintenance cost and the elimination of duplicated resources. Global corporations are investing heavily in shared services implementations in order to stay competitive in an industry environment. A number of financial services firms have turned to IT shared services to reduce the level of IT asset and infrastructure redundancies. Recently, Korean financial services industry is moving to diversification(bank, securities, insurance, etc.) and consolidation(M&A, strategic alliance, etc.), and wants the elimination of duplicated IT resources. This research is intended to find out and demonstrate the factors having a significant effect on adoption of IT shared services center in finance services industry.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.13 no.5
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• pp.2096-2109
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• 2012

This study investigates empirical issues that have received little attention in the previous research in the Korean capital market. It is to find any financial determinants on the capital structure for the firms listed in the KOSDAQ(Korea Securities Dealers Automated Quotation). Another test is performed to find any possible discriminating factors by utilizing a robust methodology, which may distinguish between the firms belonging the 'prime section' and the 'venture section' in terms of their financial aspects. Moreover, the null hypothesis that the changing trend or movement of a firm's capital structure with respect to its industry mean (or median) may be random, is also tested. For the book-value based debt ratios, size(INSIZE), growth(GROWTH), Market to book value of equity(MVBV), volatility(VOLATILITY), market value of equity (MVE) and section dummy (SECTION) showed their statistically significant effects on the book-value based leverage ratios, respectively, while size(INSIZE), growth(GROWTH), market value of equity(MVE), beta(BETA) and section dummy (SECTION) showed their statistically significant effects on the market-value based leverage ratios. This study also found an interesting result that a firm belonging to each corresponding industry has a tendency for reversion toward its mean and median leverage ratios over the five-year tested period.