• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.2
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• pp.75-87
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• 2016

This study examines the impact of government funds to venture capital on investment in early-stage firms. We provide novel explanations about this relationship focusing on mechanisms by which government funds influence the perceived uncertainty, decision about investment priority, scale economy of investment, information asymmetry in investment decision, and capital expense. We argue that venture capital's investment in early-stage firms increases as government funds increase and as government funds are explicitly directed for early-stage firms. However, we further claim that the impact of government funds on early-stage investment will be decreasing as their size increases and finally be reverted to negative impact beyond a certain amount of funds to show inverse-U relationship. Our empirical examination using data from 105 Korean venture firms active as of 2013 consistently supports the claims. This study contributes to the venture capital literature by providing novel arguments about mechanisms and effects of policy intervention in venture capital. In practice, we expect our results will provide an opportunity for relevant policy makers to review their venture support policy based on empirical evidences for policy effects.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.4
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• pp.91-101
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• 2016

This research focused on searching the specialized factors which affect the cyber universities' performance. This research was approached from three perspective of professor, graduation and employment, and brand image to embody the cyber universities' performance. We drew five factors of contents variety, contents quality, practical orientation of contents, lecture presence, and learning management as the Influencing factors of cyber universities' performance. We proved our research model by analyzing 170 questionnaires which were completed by college students who were studying at cyber universities in China. The results of analysis are showed as below: 1) The level of contents variety can affect the cyber universities' performance; higher level gains better outcomes. 2) The level of contents quality can affect the cyber universities' performance; better quality gains better outcomes. 3) The level of practical orientation of contents can affect the cyber universities' performance; the higher the better. 4) The level of lecture presence can affect the cyber universities' performance; the stronger the better. 5) The level of learning management can affect the cyber universities' performance; the higher the better.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.4
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• pp.97-108
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• 2020

This study analyzes factors of the influence of university start-up education and start-up support on the employment rate. For this purpose, we study prior research on university factors that affect the employment rate. we add university startup education & support to the university factors that are the type of university establishment and the university location, affecting the employment rate. The information of start-up education and start-up support is derived from the university disclosure information. In the start-up education, the number of participants in the start-up lecture, the number of participants in the start-up club, the number of participants in the start-up competition, the number of participants in the start-up camp and in the start-up support, the number of dedicated faculty members for start-up support, and the start-up training budget are added. The research model is empirically analyzed with 118 universities, excluding special purpose universities and universities with less than 1,000 graduates as a national 4-year university. Empirical analysis shows that the type of university establishment has a positive effect on the employment rate, and the university location has a positive effect on the employment rate. Among the factors of start-up education and start-up support, the number of participants in entrepreneurship courses is found to have a positive effect on the employment rate. In addition, although the number of participants in the start-up camp don't have a positive effect on the employment rate, it is found that the significance level p=0.070. Based on the results of this empirical analysis, academic and policy implications are presented.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.4
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• pp.143-160
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• 2019

The domestic pharmacy market has undergone a lot of changes starting from the division of medicine. Along with the division of medicine, patients who had previously visited the pharmacy were moved to a hospital or clinic. As the pharmacy became more dependent on the illness and the clinic, the pharmacy began various activities to search for ways other than prescription drugs. At this time, the importance of distribution was emphasized around the time, and as the need to strengthen the competitiveness of pharmacies increased, they rapidly grew into the franchise market. Pharmacy franchise companies continue to lecture on academic management to strengthen the expertise of pharmacists' functions in line with the pharmacy market, which is different from ordinary franchise, in addition to private brand products for pharmacies, diversifying pharmacy handling items, And strengthening its market competitiveness. but research to support it are insufficient. As a research to help this, we analyzed factors affecting the intention of re-contracting and recommendation intention that affect the maintenance and expansion size of the drugstore franchise market. As a result showed the intention of re-contracting and the intention of recommending are affected by positive influence in brand trust. In addition, Brand Promise, Employee authenticity, Originality, Product excellence, Brand reputation, Brand identification, Educational Satisfaction were found to affect brand trust.