• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.19 no.2
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• pp.1-11
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• 2024

In the midst of the current turbulent global economy, traditional investment metrics are undergoing a metamorphosis, signaling the onset of what's often referred to as an "Investment cold season". Early-stage startups, despite their boundless potential, grapple with immediate revenue constraints, intensifying their pursuit of critical investments. While financial indicators once took center stage in investment evaluations, a notable paradigm shift is underway. Organizational culture, once relegated to the sidelines, has now emerged as a linchpin in forecasting a startup's resilience and enduring trajectory. Our comprehensive research, integrating insights from CVF and OCAI, unveils the intricate relationship between organizational culture and its magnetic appeal to investors. The results indicate that startups with a pronounced external focus, expertly balanced with flexibility and stability, hold particular allure for investment consideration. Furthermore, the study underscores the pivotal role of adhocracy and market-driven mindsets in shaping investment desirability. A significant observation emerges from the study: startups, whether they secured investment or failed to do so, consistently display strong clan culture, highlighting the widespread importance of nurturing a positive employee environment. Leadership deeply anchored in market culture, combined with an unwavering commitment to innovation and harmonious organizational practices, emerges as a potent recipe for attracting investor attention. Our model, with an impressive 88.3% predictive accuracy, serves as a guiding light for startups and astute investors, illuminating the intricate interplay of culture and investment success in today's economic landscape.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.3
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• pp.13-29
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• 2021

The purpose of this study was to analyze the spatial distribution and location factors of startups by generation (young and middle-aged) in Seoul. To this end, a research model was established that included factors of industry, population, and startup institutions by generation in 424 administrative districts using the Seoul Business Enterprise Survey(2018), which includes data on the age group of entrepreneurs. As an analysis method, descriptive statistics were conducted to confirm the frequency, average and standard deviation of startups by generation and major variables in the administrative districts of Seoul, and spatial distribution and characteristics of startups by generation were analyzed through global and local spatial autocorrelation analysis. In particular, the spatial distribution of startups in Seoul was confirmed in-depth by categorizing and analyzing startups by major industries. Afterwards, an appropriate spatial regression analysis model was selected through the Lagrange test, and based on this, the location factors affecting startups by generation were analyzed. The main results derived from the research results are as follows. First, there was a significant difference in the spatial distribution of young and middle-aged startups. The young people started to startups in the belt-shaped area that connects Seocho·Gangnam-Yongsan-Mapo-Gangseo, while middle-aged people were relatively active in the southeastern region represented by Seocho, Gangnam, Songpa, and Gangdong. Second, startups by generation in Seoul showed various spatial distributions according to the type of business. In the knowledge high-tech industries(ICT, professional services) in common, Seocho, Gangnam, Mapo, Guro, and Geumcheon were the centers, and the manufacturing industry was focused on existing clusters. On the other hand, in the case of the life service industry, young people were active in startups near universities and cultural centers, while middle-aged people were concentrated on new towns. Third, there was a difference in factors that influenced the startup location of each generation in Seoul. For young people, high-tech industries, universities, cultural capital, and densely populated areas were significant factors for startup, and for middle-aged people, professional service areas, low average age, and the level of concentration of start-up support institutions had a significant influence on startup. Also, these location factors had different influences for each industry. The implications suggested through the study are as follows. First, it is necessary to support systematic startups considering the characteristics of each region, industry, and generation in Seoul. As there are significant differences in startup regions and industries by generation, it is necessary to strengthen a customized startup support system that takes into account these regional and industrial characteristics. Second, in terms of research methods, a follow-up study is needed that comprehensively considers culture and finance at the large districts(Gu) level through data accumulation.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.2 no.4
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• pp.71-102
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• 2007

There were many comprehensive analyses conducted within the existing research activities wherein factors affecting technology progress including investment in R&D vis-${\Box}$-vis their influences act as the determinants of TFP. Note, however, that there were few comprehensive analysis in the industrial research performed regarding the impact of the economy of scale as it affects TFP; most of these research studies dealt with the analysis of the non -parametric Malmquist productivity index or used the stochastic frontier production function models. No comprehensive analysis on the impacts of individual independent variables affecting TFP was performed. Therefore, this study obtained the TFP increase rate of each industry by analyzing the factors of the existing growth accounting equation and comprehensively analyzed the TFP determinants by constructing a comprehensive analysis model considering the investment in R&D and economy of scale (smallness by industry) as the influencers of TFP by industry. First, for the TFP increase rate of the 15 industries as a whole, the annual average increase rate for 1993${\sim}$ 1997 was approximately 3.8% only; during 1999${\sim}$ 2000 following the foreign exchange crisis, however, the annual increase rate rose to approximately 7.8%. By industry, the annual average increase rate of TFP between 1993 and 2000 stood at 11.6%, the highest in the electrical and electronic equipment manufacturing business and IT manufacturing sector. In contrast, a -0.4% increase rate was recorded in the furniture and other product manufacturing sectors. In the case of the service industry, the TFP increase rate was 7.3% in the transportation, warehousing, and communication sectors. This is much higher than the 2.9% posted in the electricity, water, and gas sectors and -3.7% recorded in the wholesale, food, and hotel businesses. The results of the comprehensive analysis conducted on the determinants of TFP showed that the correlations between R&D and TFP in general were positive (+) correlations whose significance has yet to be validated; in the model where the self-employed and unpaid family workers were used as proxy variables indicating the smallness of industry out of the total number of workers, however, significant negative (-) correlations were noted. On the other hand, the estimation factors of variables surrogating the smallness of scale in each industry showed that a consistently high "smallness of scale" in an industry means a decrease in the increase rate of TFP in the same industry.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.2
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• pp.1-13
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• 2014

This study is preliminary founding start-ups of restaurant entrepreneurs to study the characteristics of management in order to provide useful information was studied. Survey period is from 2013 March 15 to August 31. About the nature of the preparation and establishment founder findings restaurant entrepreneurs of Western Gyeongnam area were most often in the form of an independent establishment has been compiled, work experience and other industries operating experience was more than restaurant entrepreneurs of operating experience. Hypothesis Testing in accordance with results of this study are as follows. First, the 50 founders than 30 founders quickly when the customer complaint or that service, order food and non-food note is issued after obtaining the order or that provide food, no customer is often inconvenient check the sharing services, such as personnel activities were devoting a lot of effort. Second, the re-startups restaurant entrepreneurs than new startups restaurant entrepreneurs was founded after the founder of career-related customer complaints about food more active coping was, and re-startups restaurant entrepreneurs by the founder other than business founded by the founder of the food-related customer complaints more aggressively for coping, respectively. Third, restaurant entrepreneurs of the store operations management has integrity, words and actions match, such as the degree of belief in the promise of reliability and the possibility of failure, which means the degree of recognition and response efforts are having an impact deal. Fourth, restaurant of food service management services and after-sales service has impact on the founder of the self-efficacy and self-efficacy of pre-service features and reliability founder affecting. Fifth, the revenue of the restaurant for dealing with customer complaints management includes efforts are having an impact. Sixth, restaurant founder of reliability and customer care has influenced the self-efficacy. Seventh, management of operational management activities have a positive impact on business performance are.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.1
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• pp.67-83
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• 2023

The social venture start-up phenomenon is found from the perspectives of social enterprise and for-profit enterprise. This study aims to fundamentally explore the start-up phenomenon of social ventures from these two perspectives. Considering the lack of prior research that researched both social and commercial perspectives at the same time, this paper analyzed using grounded theory approach of Strauss & Corbin(1998), an inductive research method that analyzes based on prior research and interview data. In order to collect data for this study, eight corporate representatives currently operating social ventures were interviewed and data and phenomena were analyzed. This progressed to a theoretical saturation where no additional information was derived. The analysis results of this study using the grounded theory approach are as follows. As a result of open coding and axial coding, 147 concepts and 70 subcategories were derived, and 18 categories were derived through the final abstraction process. In the selective coding, 'expansion of social venture entry in the social domain' and 'expansion of social function of for-profit companies' were selected as key categories, and a story line was formed around this. In this study, we saw that it is necessary to conduct academic research and analysis on the competitive factors required for companies that pursue the values of two conflicting relationships, such as social ventures, to survive with competitiveness. In practice, concepts such as collaboration with for-profit companies, value combination, entrepreneurship competency and performance improvement, social value execution competency reinforcement, communication strategy, for-profit enterprise value investment, and entrepreneur management competency were derived. This study explains the social venture phenomenon for social enterprises, commercial enterprises, and entrepreneurs who want to enter the social venture field. It is expected to provide the implications necessary for successful social venture startups.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.6
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• pp.249-267
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• 2021

The use of big data accumulated along with the progress of digitalization is bringing disruptive innovation to the global agricultural industry. Recently, the government is establishing an agricultural big data platform and a support organization. However, in the domestic agricultural industry, the use of big data is insufficient except for some companies in the field of cultivation and growth. In this context, this study identifies factors affecting the intention to use big data in terms of technology, organization and environment, and also confirm the moderating effect of technical field, focusing on agricultural ventures which should be the main entities in creating innovation by using big data. Research data was obtained from 309 agricultural ventures supported by the A+ Center of FACT(Foundation of AgTech Commercialization and Transfer), and was analyzed using IBM SPSS 22.0. As a result, Among technical factors, relative advantage and compatibility were found to have a significant positive (+) effect. Among organizational factors, it was found that management support had a positive (+) effect and cost had a negative (-) effect. Among environmental factors, policy support were found to have a positive (+) effect. As a result of the verification of the moderating effect of technology field, it was found that firms other than cultivation had a moderating effect that alleviated the relationship between all variables other than relative advantage, compatibility, and competitor pressure and the intention to use big data. These results suggest the following implications. First, it is necessary to select a core business that will provide opportunities to generate new profits and improve operational efficiency to agricultural ventures through the use of big data, and to increase collaboration opportunities through policy. Second, it is necessary to provide a big data analysis solution that can overcome the difficulties of analysis due to the characteristics of the agricultural industry. Third, in small organizations such as agricultural ventures, the will of the top management to reorganize the organizational culture should be preceded by a high level of understanding on the use of big data. Fourth, it is important to discover and promote successful cases that can be benchmarked at the level of SMEs and venture companies. Fifth, it will be more effective to divide the priorities of core business and support business by agricultural venture technology sector. Finally, the limitations of this study and follow-up research tasks are presented.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.8 no.1
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• pp.193-203
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• 2013

The social welfare service is expanding to different field as the social welfare budget is increasing. By this opportunity, it needs to make clear of the basis of argument that the necessity of development of korean government's support and aid by social policy should be worked. Welfare economics perspective, this study used by the operating expenditure in welfare facilities for the elderly old people to effect social benefits to be gained, in other words, business value analysis. Local elderly people, provide opportunities to participate in the economic activities of the family welfare services offered to attainment of the elderly welfare policy, and provide disease prevention and health promotion opportunities, to enhance the satisfaction of life, including a wide range of impact will cause. In this study, elderly people use the welfare facilities for the elderly when they get the benefits by applying the AHP analysis techniques operating value was calculated. Elderly Welfare Center operated by the result of applying P senior welfare center Case of the metropolitan area value was estimated 248.4 billion won. Contribute to the effects caused by the cost factor of the analysis was 23.1% of the total 57.3 billion won. Independence elements 57.6 billion (23.2%), the analysis of the therapeutic elements 133.4 billion (53.7%) of the net was. The result of the study anticipates the role of basic research material for the necessity of intervention, support, and aid by the Welfare facilities for the elderly field at this point in time where the welfare budget policy in terms of universal social service is reinforced, rather than the trend, until recently, of realizing the Elderly welfare budget and service as Consumption expenditure and consumable benefits and the function of performing the effect and evaluation in tentative action of social conflict.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.1
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• pp.105-117
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• 2018

In this study, we identify the obstacles that occur through the relationship between I-U cooperation and look for factors that can overcome them in the 'university administration's efforts' and 'Trust between I-U'. In the study of existing I-U cooperation, the relationship between industry and university has accumulated experiences and various channels of bilateral cooperation by sustaining interactions and absorbing capacity of knowledge by path dependence. However, as cooperation increases, 'I-U cooperation barrier' are inevitable, which is explained by two perspectives: 'Difference in mutual recognition' and 'Institutional barriers'. In order to induce the achievement of effective I-U cooperation, it is necessary to overcome these obstacles stemming from mutual relations, and it will be possible to maintain the relationship of continuous I-U cooperation. The researchers conducted research on companies participating in the I-U cooperation technology development project of the 'Ministry of Small and Medium Venture Business', which is a representative I-U cooperation program in Korea. This project will be promoted in the 'Small & Medium Business I-U cooperation Center', an administration-dedicated organization of the university. The researchers measure 'University administration's efforts' and 'Trust between I-U'to overcome'I-U cooperation barrier' In order to clarify the data of the research sample, a questionnaire survey of organizational units was conducted for all companies participating in the 'I-U cooperation technology development projects' of the SMEs and Startups between 2011 and 2015, and the responses of 356 organizations were drawn. The results showed that the higher the level of 'University administration's efforts' and Trust between I-U', the lower 'Difference in mutual recognition' and 'Institutional barriers'. Particularly, it showed higher explanatory power to overcome 'Institutional barriers' among obstacles. Therefore, it should be accompanied by the interest, implementation and institutional support of I-U-R subjects to raise the level of these two factors that can overcome 'I-U cooperation barrier'.

• Journal of Venture Innovation
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• v.7 no.2
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• pp.77-99
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• 2024

Small and medium-sized venture companies and small business owners play an important role in the Korean economy. According to the Ministry of SMEs and Startups' statistics survey in 2019, the proportion of all employees of small and medium-sized venture companies in Korea was 89.8%, which is overwhelmingly higher than that of Japan's 77.8% and Taiwan's 76.6%, so job creation for small and medium-sized venture companies in Korea is absolute. Compared to large companies, it is known that it is difficult for small and medium-sized venture companies in Korea to secure a competitive advantage due to low cost competitiveness, difficulties in R&D/marketing due to lack of capital, difficulties in securing networks, and lack of management know-how. Many scholars, including Kerr and Schumpeter, have studied entrepreneurship since the mid-1950s. Recently, research has been conducted in various fields such as business administration, psychology, and economics. However, research on the personal characteristics of CEOs of small and medium-sized venture companies such as entrepreneurial passion and corporate reputation, which is the overall image of companies, is still insufficient, and comparisons of effects between variables between groups (by industry, by pressure, etc.) have not yet been presented. Entrepreneurial passion plays an important role in promoting new business creation, job creation, and economic growth. Therefore, entrepreneurial Cultivating and promoting passion will also contribute to socioeconomic development. These are government policies, educational programs, and social awareness It can be achieved through improvement, etc., and is especially important in the current market conditions where innovation and growth are important. In conclusion Entrepreneurial passion is an important factor that has a positive effect on all individuals, businesses, and society. Therefore, research on entrepreneurial passion is It is an essential task to maximize these positive effects. In this study, in order to overcome the limitations of existing studies, entrepreneurs' Whether entrepreneurial passion, which is a personal characteristic, affects competitive advantage, absorption capacity and product and process innovation capabilities are Whether there is a mediating effect between entrepreneurial passion and competitive advantage. Finally, in the relationship between entrepreneurial passion and absorption capacity. The corporate reputation verifies whether it has a moderating effect, etc., and compares the influencing factors between variables by industry and pressure. It is intended to be verified empirically. In this study, 2023 conducted by the Small and Medium Business Distribution Center under the Ministry of SMEs and Startups for 312 CEOs of small and medium-sized venture companies and small business owners who participated in the online market support project for small and medium-sized venture companies and small business owners, December 2023 Survey and analysis were conducted from 1st to 20th, and the analysis used Smart PLS 4.0 to determine the impact on the relationship between variables. It was empirically verified. As a result of the study, it was found that entrepreneurial passion had a positive effect on absorption capacity, and the product was found And it was found to have a positive effect on process innovation capability and competitive advantage. In addition, the higher the corporate reputation, the more entrepreneurial it is. It was confirmed that passion had a greater effect on absorption capacity.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.7 no.3
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• pp.181-190
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• 2012

After industrialization, the labor force participation rates of women, especially married women is drastically increasing. So, this study was designed to analyze the determinants of married women's employment status considered. For this, the determinants of married women's employment status were divided into individual-related, children-related, household-related and job-related variables to establish the research models. Based on this, the following results were drawn from a multinominal logistic regression analysis of the determinants of married women's employment status. First, an analysis of individual-related variable showed that married women had the employment status of labor wages with residence in the center of the city and high academic background. Second, an analysis of children-related variable showed that they had the employment status of labor wages with many their children and no their children under the age of six. Third, an analysis of household-related variable showed that they had the self-employment status of labor wages with nuclear family and few income earners of family members. Finally, an analysis of job-related variable showed that they had the employment status of labor wages when they got a job before they got married, their husband didn't get a job, and their husband worked in a professional field. As for findings stated above, as there was a difference in the determinants of married women's employment status, the ways for improvement in the married women's employment status would be suggested as follows. First, married women with young children have the low employment status, basically, requiring problem-solving ways for this because the housekeeping and child-rearing burden caused by marriage and childbirth are factors that continue to obstruct a job. For this, the flexible working hours system, which housekeeping and child-rearing can harmonize with economic activities like developed countries, needs to be activated. But the activation of such flexible working system will produce actual results under institutional protection, such as a related-protection law. Second, the Leave of Child Care System is debated as one of the most representatively systems that housekeeping can harmonize with economic activities. Now, although the System is legislated, the use is very poor.