• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.12 no.4
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• pp.15-24
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• 2017

The major goal of this paper falls on developing new rational valuation model, to help companies and investors in the early stage of growth as to preparing and negotiating valuation of investment, by applying new reasonable discount indexes of calculating Discount Cash Flow in valuation of the start-up which has been recognized the critical fatal flaws of DCF with them. There are three specific studies done in this paper. First, this paper found the solid and viable bases of rational discount indexes as to applying DCF in valuing companies in the early growth stage with reviewing the previous studies including Berkus method, Scorecard Method, and Risk factor Summation method classified the most effective tools of valuing pre-revenue generating companies. Second, this paper quoted and analyzed the previous models and studies, so called, 'DCF-Prime' of applying DCF method as to value companies in the early growth stage by taking all risk factors innate to the companies in the early growth stage as the discount rate Beta coefficient. Third, this paper propose more viable and solid valuation models, so called, 'DCF-Plus'of combing all validated valuation factors in Berkus, Scorecard, and Risk Factor Summation methods into applying separate discount bracket after DCF Valuation over the companies in the early growth stage instead of taking them as the factors of discount rate, beta coefficient, like the previous model of DCF-Prime. DCF-Plus mainly developed in this paper will not only provide more rational valuation bases as to investment negotiation between companies and investors in the early growth stage, but also providing more accountable guidelines to companies in the early growth as to prepare investment raising and accelerating their company's value by themselves.

• Fashion & Textile Research Journal
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• v.23 no.5
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• pp.598-610
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• 2021

Korean textile and fashion companies have played a major role not only in developing the Korean economy since Korea's industrialization started in the early 1960s but also in providing opportunities to form and expand chaebols (conglomerates of family-owned businesses). This study reviewed and analyzed the historical development of chaebols, which started the fiber/textile/fashion business before the 1960s and maintained their chaebol status until 2010. The Samsung, Samyang, Kolon, Taekwang, Hyosung, LG, and SK groups were included in the study, and data were collected from diverse sources, including the publications and websites of the chaebol companies, newspapers, magazines, and research articles. The strategies of the companies at the corporate and group levels were examined based on the corporate lifecycle, which consists of existence, growth, maturity, rebirth, and decline stages. The results showed that all the analyzed companies actively engaged in product line expansion during the growth stage. Vertical integration, especially backward integration, was common during the growth stage. Some groups established new companies to manage additional product lines and integration, while others pursued growth strategies mainly at the corporate level. The rebirth stage occurred in only a few companies and groups. Some seemed to be going through the decline stage, and the rest of the groups exited the textile and fashion business.

• Asia pacific journal of information systems
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• v.9 no.3
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• pp.143-157
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• 1999

EDI is one of the most important information technologies in todays business environment. This study is an exploratory study on the EDI control of Korean companies in their early stage of EDI implementation. The purpose of this study is to examine the impact of EDI controls on the security and usefulness of EDI systems for Korean companies who have adopted EDI. The data of fifty-one Korean companies for financial, manufacturing, and trade industries are collected by the mail survey and interview methods. The level of EDI control is mediocre on the average. The level of EDI security is low while that of EDI usefulness is mediocre. The empirical results show that the EDI controls in general improve the EDI security and usefulness significantly. Especially, the application and security control affect the EDI security significantly while the management, application, and security controls affect the EDI usefulness significantly. The gap between the level and perceived importance of control does not affect the EDI security but decreses the EDI usefulness at the marginal level of significance. The limitation of this study is that only a small number of companies are available for data collection because Korea is in the early stage of EDI implementation.

• Journal of Information Technology Applications and Management
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• v.10 no.4
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• pp.65-84
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• 2003

The Purpose of this study is to Identify and analyze the factors that determine the survival or success of internet-based companies in the start-up phase. The reason why we focus on companies which are in the early stage of development is because internet business is still at its early stage, and statistics indicate that many internet businesses have failed during the start-up phase. Using the model of new product outcomes proposed by Cooper(1979), we have formulated a conceptual model for more successful internet business ventures. On the basis of this model, the relationship between the financial and non-financial performance and various variables in the model is analyzed. For collecting empirical data, a web-based survey questionnaire was designed. A total of 97 usable questionnaires were gathered from internet companies nationwide. The results showed that controllable variables such as the commercial entity and information acquired during the new business process are related to the non-financial performance, while environment variables such as the compatibility of the resource base of the firm with the business, including a few controllable variables, are related to the financial performance. Future research needs to explore more precisely how the success factors are different according to the types of internet businesses and/or the stages of growth of the business.

• Journal of the Society of Naval Architects of Korea
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• v.54 no.1
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• pp.57-62
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• 2017

These days, shipbuilding companies are making an effort to adopt the IT technology in order to improve the production efficiency. One such effort is to utilize a planning and scheduling system to predict the production cost in advance. In this system, assessing the welding material quantity is an important factor. Unfortunately, obtaining the welding material quantity in the early design stage is extremely difficult because the detailed production information, which is essential in deriving the cost associated with welding, is normally available at a later stage. This paper aims at developing a computerized program that produces an index to estimate the welding material quantity in the early design stage. By using only three-dimensional geometric information, the program analyzes the production process and estimates the welding material quantity at any design or production stage when no production information is available. The results can be used for the planning and scheduling system.

• Journal of Korea Technology Innovation Society
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• v.4 no.3
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• pp.369-382
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• 2001

In this research, the world top steel companies' technical changes were measured by the nonparametric Malmquist index. Steel industry's production frontier which was composed of multiple inputs and multiple outputs was defined by using real data of the companies from 1986 to 1998, and then the variability of technical progress(or regress) was analyzed during that period. The dynamics of individual steel companies\` technical changes, periodical technical changes, and each country's technical chanties were explained. A matrix which was based on technical chanties, technical efficiency changes, and scale efficiency changes was designed to assist to find out current position and In build up future strategies. This research results will be an valuable input to the early stage of formulating competitive strategy because the technical core capability is an important source of the each companies's competitiveness.

• Asia-Pacific Journal of Business
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• v.9 no.1
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• pp.39-55
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• 2018

Exports play an important role in Korea's economy and industry. Korea's share in world trade is also increasing. Governments and trade organizations are making great efforts to promote exports. However, since SMEs lack resources of enterprises, SMEs have a lot of difficulties in increasing exports compared to large enterprises. For this reason, in this study, we analyzed the difference of perception of export difficulties according to characteristics of small and medium export companies. As a result, four factors such as overseas market information, price and cost, competitiveness and regulation of importing country were derived. In addition, we investigated the differences in recognition of export difficulties by the stage of growth of company, period of export, products exported, export department, size of company. There was a significant difference in recognition. Especially, The companies which are the early stages of growth, short export period, finished product, the smaller the size of exports companies are more difficult in export difficulties.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.5
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• pp.197-215
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• 2023

The main purpose of this study is to investigate the impact of COVID-19 risk perception on the operational activities and performance of incubator tenant companies during the early stages of the COVID-19 outbreak. The primary variables considered for the operational activities of incubator tenant companies include financial management, research and development, marketing, and downsizing. Financial and non-financial performance are the key variables for business performance. The research findings indicate that COVID-19 risk perception has a significant impact only on downsizing, but it does not significantly affect financial management, research and development, or marketing. Additionally, COVID-19 risk perception has a significantly negative impact on both financial and non-financial performance. Financial management and marketing significantly influence financial performance, while research and development and downsizing do not seem to have a significant impact on financial performance. Conversely, research and development, as well as marketing activities, significantly impact non-financial performance, while financial management and downsizing lack a significant influence on non-financial performance. Finally, when examining incubator tenant companies categorized into early-stage, leap-stage, and growth-stage companies, it was observed that only marketing activities have a common and significant impact on non-financial performance across all three types of companies.

• International Journal of Advanced Culture Technology
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• v.12 no.2
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• pp.167-179
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• 2024

This study addresses the challenge of objectively evaluating the performance of early-stage startups amidst limited information and uncertainty. Focusing on companies selected by TIPS, a leading private sector-driven startup support policy in Korea, the research develops a new indicator to assess technological efficiency. By analyzing various input and output variables collected from Crunchbase and KIND (Korea Investor's Network for Disclosure System) databases, including technology use metrics, patents, and Crunchbase rankings, the study derives technological efficiency for TIPS-selected startups. A prediction model is then developed utilizing machine learning techniques such as Random Forest and boosting (XGBoost) to classify startups into efficiency percentiles (10th, 30th, and 50th). The results indicate that prediction accuracy improves with higher percentiles based on the technical efficiency index, providing valuable insights for evaluating and predicting startup performance in early markets characterized by information scarcity and uncertainty. Future research directions should focus on assessing growth potential and sustainability using the developed classification and prediction models, aiding investors in making data-driven investment decisions and contributing to the development of the early startup ecosystem.

• Knowledge Management Research
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• v.13 no.3
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• pp.17-36
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• 2012

With wide recognition of significant roles of venture companies in economic and industrial developments, substantial academic attention has been paid to understanding venture success and numerous policy measures have been made to help them. A serious problem, however, is that only a few limited number of venture could successfully grow to be large firm. The goal of this paper is to identify critical factors to drive 'leapfrogging' growth of venture companies by analyzing the success cases in Daejeon area. The theoretical analysis and case study suggest 1) founders' entrepreneurship continuity as a significant internal organization factor for growth and highlight importance of 2) exploring foreign markets and globalization of business operation in the early stage of growth. Furthermore, the research results identify two critical innovation strategies, 3) ambidextrous R&D strategy and 4) open innovation strategy, for entrepreneurial founders to effectively catch the business chances brought by environment change.