• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• 제17권6호
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• pp.115-125
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• 2022

As the digital economy has emerged as a means of building a new business order and creating new values, the number of small business owners participating in digital platforms is gradually increasing. This study aims to check whether small business owners participating in the digital platform are being helped to properly respond to the market environment and establish and implement strategies necessary for growth through learning within the platform. To this end, this study attempted to examine the effect of the absorptive capacity of small business owners using e-commerce platforms on market orientation and the moderating effect of vicarious learning and experiential learning, which are two types of learning within the platform. As a result of verifying the hypothesis through the survey, it was found that the absorption capacity of small business owners using digital platforms positively affected their market orientation. In addition, as a result of the moderating effect analysis, it was found that vicarious learning within the platform strengthens the relationship between absorptive capacity and market orientation. This result implies that small business owners can not only prepare for market uncertainties through indirect learning (vicarious learning) but also establish strategies to provide products and services that meet the market's needs. On the other hand, the effect of experiential learning was found to lower market orientation, which means that previous business experiences can rather lower attention to the environment. The significance and implications of the study were presented.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• 제18권2호
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• pp.21-34
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• 2023

The purpose of this study is to examine the extent of Sustainable Development Goals (SDGs)-related research in the field of entrepreneurship globally since the adoption of the SDGs at the UN General Assembly, and to compare international and domestic research trends in order to determine the direction of SDGs-related research in entrepreneurship in Korea. Utilizing three databases-Web of Science (WoS), KCI, and DBpia- SDGs-related studies in entrepreneurship were extracted by employing specific search terms. After data purification, a total of 356 studies abroad and 4 studies in Korea were used for analysis. After data purification, a total of 356 international studies and 4 Korean studies were analyzed. Due to the limited number of domestic studies, the research trends were examined by conducting frequency analysis and keyword network analysis on international studies alone. Frequency analysis revealed that SDGs research in entrepreneurship primarily focused on sustainability-related terms and was conducted in conjunction with business models, innovation, entrepreneurship education, and strategies. Furthermore, yearly frequency analysis demonstrated an expansion of topics to encompass research on entrepreneurship and SDGs policies, the roles and capabilities of female entrepreneurs in SDGs implementation, energy start-ups and SDGs, directions for implementing SDGs in business schools and SDGs education, indicators for SDGs implementation and evaluation, and technologies for sustainability. The keyword network analysis identified central topics such as business, sustainability, SDGs, innovation, entrepreneurship, business models, and education, with research areas extending to entrepreneurship ecosystems, change and strategy, ethics, and climate. This study holds significance in establishing a foundation for SDGs research in entrepreneurship, which is currently an underexplored area in Korea, by presenting emerging research trends related to SDGs in entrepreneurship.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• 제18권3호
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• pp.141-156
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• 2023

Due to the unprecedented worldwide pandemic of the new Covid-19 infection, business trends of companies have changed significantly. Therefore, it is strongly required to monitor the rapid changes of innovation trends to design and plan future businesses. Since the pandemic, many studies have attempted to analyze business changes, but they are limited to specific industries and are insufficient in terms of data objectivity. In response, this study aims to analyze business trends after Covid-19 using Crunchbase, a global startup data. The data is collected and preprocessed every two years from 2018 to 2021 to compare the business trends. To capture the major trends, a network analysis is conducted for the industry groups and industry information based on the co-occurrence. To analyze the minor trends, LDA-based topic modelling and word2vec-based clustering is used. As a result, e-commerce, education, delivery, game and entertainment industries are promising based on their technological advances, showing extension and diversification of industry boundaries as well as digitalization and servitization of business contents. This study is expected to help venture capitalists and entrepreneurs to understand the rapid changes under the impact of Covid-19 and to make right decisions for the future.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• 제17권1호
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• pp.213-227
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• 2022

Recently, research on social entrepreneurship, which simultaneously pursues social value creation and economic sustainability has increased rapidly. Researchers conducted several empirical studies, noting that social entrepreneurship is a major factor in improving the performance of social enterprises. However, most previous studies usually have limitations in measuring the performance of social enterprises based on the subjective perception of entrepreneurs, which implies the limitations of the common method bias. In addition, there is a lack of empirical evidence that can explain the specific process in which the personal characteristic of an entrepreneur, social entrepreneurship, affects the achievement of dual goals. Therefore, this study empirically investigates the effect of social entrepreneurship on performance increasing the objectivity of performance measurement and including blended value orientation(BVO), a characteristic of viewing social and economic performance as a single thing. The purpose of the study is to verify the effect of social entrepreneurship and BVO on the social and economic performance of social enterprises. We conducted regression analysis using the results of the perception survey of social enterprises in South Korea and objective performance data. As a result, risk-taking, a sub-factor of social entrepreneurship, had a positive effect on economic and social performance at a significant level. In addition, it was confirmed that social entrepreneurship improves BVO, and it affects social performance. Therefore, this study found that social entrepreneurship and BVO have a discriminatory effect on economic and social performance, respectively. This study is meaningful in that it attempted to overcome the common method bias as measuring subjectivity performance.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• 제17권2호
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• pp.141-151
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• 2022

This exploratory study was conducted to derive the components of digital entrepreneurship by targeting the experts related to Information and Communication Technology (ICT). Through the review of previous studies and Delphi analysis, the major components of digital entrepreneurship were derived into the 'digital entrepreneurial orientation area' and the 'digital technology competency area'. The components of digital entrepreneurship are innovativeness, proactiveness, risk-taking, desire for achievement, ability to identify digital business opportunities, digital technology utilization capability, digital operation process establishment capability, digital technology development capability, digital technology acceptance, information exchange, and cooperation network establishment, digital-based customer acquisition and management was presented. The importance and execution of success factors were measured through IPA analysis. The first quadrant(keep up the good work) includes proactiveness, ability to identify digital business opportunities, and ability to establish digital business processes. The second quadrant(concentrate here) includes innovativeness, digital technology development capability, and digital technology acceptance. The third quadrant(low priority) includes risk-taking, desire for achievement, digital technology utilization capacity, and digital-based customer acquisition and management. The fourth quadrant(possible overkill) includes information exchange and cooperation network establishment. This study is meaningful in that it presents the concept and components of digital entrepreneurship for digital entrepreneurs that can be applied in Korea.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• 제17권5호
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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.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• 제17권4호
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• pp.101-114
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• 2022

Recently, various studies on the entrepreneurial ecosystem have been conducted. The entrepreneurial ecosystem is composed of various elements such as entrepreneurs, governments, and infrastructure, and these factors interact to contribute to economic development. The purpose of this study was to analyze differences in importance and performance of the entrepreneurial ecosystem for startups using the importance-performance analysis (IPA) method. Based on this, the importance and current level of the components of the entrepreneurial ecosystem were identified and policy implications were presented. The results of the study are as follows. The importance ranking was in the order of startup support program(4.43), startup funding (4.39), market accessibility(4.30). The ranking of performance was startup support program(3.81), ease of starting a business(3.76), support for startup support institutions(3.66), and startup funding(3.66). All elements of the entrepreneurial ecosystem showed higher importance than performance. This means that the components of the entrepreneurial ecosystem in Korea are recognized as important, but do not play a significant role in terms of performance for startups. In addition, the factors with the highest improvement in the importance-performance matrix were 「safety nets for startup failure」, 「culture of acceptance of failure」, 「ease of market entry」, 「ease of startup survival」, and 「ease of exit」. This study suggested improvement measures such as establishing a social safety net, improving awareness of startup failure culture, matching successful startups, strengthening scale-up support by growth stage, easing regulations in new business fields, and diversifying investment recovery strategies.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• 제19권2호
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• pp.181-196
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• 2024

This study examines the impact of university graduate Startup rates on economic growth in the regions where universities are located, using panel data from 35 universities in 17 regions in Korea and 21 universities in 13 cities in China over a six-year period from 2016 to 2021. In Korea, a total of 35 universities were selected as part of the Ministry of Education's "University-initiated Startup" policy, including Startup-oriented universities, leading universities in Startup education innovation, Startup education bases, and excellent universities in Startup education, while in China, 21 universities were selected as part of the pilot bases established as part of the "Mass Entrepreneurship, Mass Innovation" policy. To analyze the economic impact of the universities on the regions where they are located, we aimed to conduct an empirical analysis of the economic impact using economic indicators of the economic growth rate of the regions where they are located. The results of the empirical analysis show that the Startup rate of university graduates in Korea and China both have a positive impact on the regional economic growth rate, but the Startup rate of local university graduates in Korea has a greater impact on the regional economy than in China. Based on the findings that the number of entrepreneurs produced by universities has a positive impact on the economic growth of their regions, this study draws implications for the role of universities and regions in revitalizing local economies and the establishment of systems to resolve the imbalance between metropolitan and non-metropolitan areas.

• Journal of Platform Technology
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• 제12권3호
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• pp.41-54
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• 2024

Recently, support for various types of entrepreneurship has been increasing. At the same time, interest in entrepreneurship education is increasing to expand support for entrepreneurship and improve entrepreneurship performance. Therefore, the scope and interest of entrepreneurship education and support is expanding beyond college students and the general public to include high school students. Accordingly, this study seeks to investigate in more depth the relationship between entrepreneurship competency, entrepreneurship attitude, and intention to start a business in order to increase the intention to start a business. As a result of the analysis, entrepreneurship capabilities (creativity, risk-taking, and innovation) had a positive effect on attitude toward entrepreneurship, and attitude toward entrepreneurship had a positive effect on the will to start a business. In addition, the results of the analysis of the mediating effect of entrepreneurship attitude in the relationship between entrepreneurship capabilities (creativity, risk-taking, and innovation) and entrepreneurship will are as follows. First, in the relationship between creativity and entrepreneurial will, entrepreneurial attitude played a partial mediating role. Additionally, in the relationship between risk tolerance and entrepreneurial intention, entrepreneurial attitude played a partial mediating role. Lastly, in the relationship between innovation and entrepreneurial will, entrepreneurial attitude played a complete mediating role. The research conclusion summarizes the results of this study, suggests implications for entrepreneurs and start-ups, as well as limitations of this study and directions for future research..

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• 제11권3호
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• pp.97-109
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• 2016

In Korea, the survival rate of start-up of 5-year after foundation is as low as 29.6% of the country. This low survival rate is from because of insufficient resources in start-ups compared to those of mid-sized companies. Therefore, the marketing characteristics of entrepreneurship has emerged as a major cause. Therefore, In this study, because learning orientation, marketing experience, competition orientation and etc are differently owned in start-ups, marketing impact to marketing strategy in start-up companies are differently investigated. Therefore, the relationship of learning orientation, marketing experience, competition Orientation with marketing strategies was examined. Based on this, Business performance was examined to suggest contents related to eco-system of start-up companies to representative of start-up companies. For this study, Survey was conducted for 250 start-up entrepreneurs within 3 and half year since foundation from Nov. 20 to Dec. 20, 2015. In result of data-cleaning, 207 meaningful samples were gathered. Based on these, conclusion was obtained. Using SPSS 20.0 statistical program, frequency analysis, reliability analysis, correlation analysis and regression analysis were conducted. the following conclusions were drawn. First, in the impact of marketing environment of Phase 1 start-up companies on marketing strategy, product strategy, distribution strategy and promotion strategy were positively affected by learning orientation, marketing experience and competition orientation. Second, in the effect of 2nd phase marketing strategy to business performance, the financial performance and the non-financial performance. Were positively affected by product strategy, distribution strategy and promotion strategies. Third, The effect of learning orientation, marketing experience and competition orientation to financial performance was positively mediated by product strategy and distribution strategy among 3rd phase meditation strategies. the effect of learning orientation, marketing experience and competition orientation to non-financial performance was positively mediated by products strategy. In comprehensive summary, in order to increase business performance in start-up companies, marketing strategy should be applied in. Especially, the role of learning orientation and marketing experience is vital. In increasement of business performance to characteristics of star up marketing, financial performance can be increased by product strategy and distribution strategy. And, both of financial and non-financial performance can be increased by product strategy. Therefore, in conducting of marketing characteristics of start-up, to increase business performance, the apply of marketing strategy to marketing characteristics of start-up should be required.