• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.4
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• pp.131-148
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• 2023

The purpose of this study is to investigate the effects of entrepreneurial environment and entrepreneurial competency on entrepreneurial intention by setting degree of self-determination as a moderating variable for pre-entrepreneur of agriculture industry. The entrepreneurial environment was divided into perceived support and perceived barriers, and the sub-variables of entrepreneurial competence were set as creativity, problem solving, communication, marketing, and business plan. 253 questionnaires were used for empirical analysis. The results of the analysis using SPSS v25.0 and Process macro v4.2 are as follows. First, the perceived support and perceived barriers of the entrepreneurial environment have a significant effect on entrepreneurial intention. Creativity, problem solving, marketing and business plan of entrepreneurial competency have a significant effect on entrepreneurial intention, but the effect of communication was non-significant. Second, the degree of self-determination did not moderate the relationship between perceived support, barriers and entrepreneurial intention. This means that the level of self-determination may not have a significant effect on the relationship between entrepreneurial environment and entrepreneurial intention. Third, the degree of self-determination was found to moderate the relationship between creativity, problem solving, communication, marketing and business plan of entrepreneurial competency and entrepreneurial intention. Specifically, as the degree of self-determination increases, the size of the influence of creativity, problem solving, marketing, and business plan on entrepreneurial intention plays a role of strengthening in a positive direction. On the other hand, as the degree of self-determination increases, the degree of self-determination, which weakens the relationship between communication and entrepreneurial intention. Future research will require exploration of other factors that can explain entrepreneurial environment and entrepreneurial capacity, and follow-up studies are needed to analyze the moderated mediating effects through conditional process models that include new mediating and moderating variables.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.5
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• pp.77-90
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• 2023

This study aims to investigate the potential of alternative credit assessment through Social Networking Sites (SNS) as a complementary tool to conventional loan review processes. It seeks to discern the impact of SNS usage characteristics and loan product attributes on credit loan repayment. To achieve this objective, we conducted a binomial logistic regression analysis examining the influence of SNS usage patterns, loan characteristics, and personal attributes on credit loan conditions, utilizing data from Company A's credit loan program, which integrates SNS data into its actual loan review processes. Our findings reveal several noteworthy insights. Firstly, with respect to profile photos that reflect users' personalities and individual characteristics, individuals who choose to upload photos directly connected to their personal lives, such as images of themselves, their private circles (e.g., family and friends), and photos depicting social activities like hobbies, which tend to be favored by individuals with extroverted tendencies, as well as character and humor-themed photos, which are typically favored by individuals with conscientious traits, demonstrate a higher propensity for diligently repaying credit loans. Conversely, the utilization of photos like landscapes or images concealing one's identity did not exhibit a statistically significant causal relationship with loan repayment. Furthermore, a positive correlation was observed between the extent of SNS usage and the likelihood of loan repayment. However, the level of SNS interaction did not exert a significant effect on the probability of loan repayment. This observation may be attributed to the passive nature of the interaction variable, which primarily involves expressing sympathy for other users' comments rather than generating original content. The study also unveiled the statistical significance of loan duration and the number of loans, representing key characteristics of loan portfolios, in influencing credit loan repayment. This underscores the importance of considering loan duration and the quantity of loans as crucial determinants in the design of microcredit products. Among the personal characteristic variables examined, only gender emerged as a significant factor. This implies that the loan program scrutinized in this analysis does not exhibit substantial discrimination based on age and credit scores, as its customer base predominantly consists of individuals in their twenties and thirties with low credit scores, who encounter challenges in securing loans from traditional financial institutions. This research stands out from prior studies by empirically exploring the relationship between SNS usage and credit loan repayment while incorporating variables not typically addressed in existing credit rating research, such as profile pictures. It underscores the significance of harnessing subjective, unstructured information from SNS for loan screening, offering the potential to mitigate the financial disadvantages faced by borrowers with low credit scores or those ensnared in short-term liquidity constraints due to limited credit history a group often referred to as "thin filers." By utilizing such information, these individuals can potentially reduce their credit costs, whereas they are supposed to accrue a more substantial financial history through credit transactions under conventional credit assessment system.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.5
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• pp.169-185
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• 2022

This study analyzed the effect of entrepreneurial competency on entrepreneurial intentions by using the entrepreneurial opportunity recognition as a mediator for middle and middle-aged office workers. The sub-variables of entrepreneurial competency are classified into management competency, technology competency, business competency and funding competency. 222 copies of questionnaires collected from middle-aged and elderly office workers residing across the country centered on the metropolitan area were used for empirical analysis. Based on a simple mediating model with singular mediator using SPSS v22.0 and PROCESS macro v4.0. was analyzed. As a result of the analysis, first, among entrepreneurial competencies, business competency and funding capacity were found to have a positive (+) significant effect on the entrepreneurial intentions, but management and technical competency did not have a significant effect. The higher the business competency and funding competency. Second, it was found that all of the sub-variables of entrepreneurial competency had a significant effect in the positive (+) direction on the recognition of entrepreneurial opportunities. It was confirmed that management competency has the greatest influence on the entrepreneurial opportunity recognition and technology competence has the smallest effect. Third, it was found that the entrepreneurial opportunity recognition had a significant effect on entrepreneurial intentions. The discovery of an opportunity recognizing opportunities for start-up is a prerequisite for entrepreneur. Fourth, it was found that the entrepreneurial opportunity recognition mediates between the management competency, technological competency, business competency, funding competency, and entrepreneurial intention. It suggests that opportunity discovery by recognizing opportunities for entrepreneurship is a prerequisite for start-up. As implications of this study, it suggests that in order to inspire middle-aged and elderly office workers to start their own business, it is necessary to have indirect experience with education and to establish and promote a government support system for financing.. Second, It suggests that education on leadership and organizational management is particularly necessary to strengthen the opportunity recognition. Third, it suggests that the discovery of opportunities to recognize opportunities for start-up is a prerequisite for entrepreneur. Therefore, it is necessary to prepare a manual and conduct training on opportunity search, recognition, evaluation, and utilization according to the stage of opportunity development. Fourth, it suggests that in order to strengthen the intention to start a business, ALso, it is necessary to manage both the entrepreneurial competency and entrepreneurial opportunities recognition at the same time. By presenting the practical directions that can be given differentially, we intend to contribute to the provision of practical directions and policy establishment for the promotion of entrepreneurial activities of office workers who can give vitality to the ecosystem.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.5
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• pp.17-30
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• 2022

It has been verified in several studies that dynamic capabilities has a very important effect on the competitive advantage of technology startups. And the network has an important influence on this dynamic capability. This is even more important for start-ups that lack the resources and knowledge. Networks that directly and significantly affect dynamic capabilities have been studied mainly the value chain internal. However, network activities of start-ups are conducted not only with the value chain internal networks but also with the value chain external networks. Therefore, it is necessary to study the effect of the value chain internal and external network activity of start-ups on the dynamic capabilities, but prior studies are lacked. In this study, We make a model that encompass the value chain internal and external network for technology startups, and a study was conducted to demonstrate the effect on dynamic capabilities and competitive advantage. As a result of the study, value chain internal network activity directly and significantly affected dynamic capabilities, and value chain external network activity did not directly significantly affect dynamic capacity. And dynamic capabilities had a significant effect on competitive advantage. As confirmed through additional research, value chain external network activity affects value chain internal network activity, and through this, dynamic capabilities are strengthened, and positively affect competitive advantage.. The intensity of value chain external network activity was not significant to dynamic capabilities and the diversity of value chain external network activity had a significant effect on the competitive advantage by double mediating the value chain internal network activity and dynamic capability. Through this study, it is confirmed that the value chain internal networks is important in order for startups to strengthen their dynamic capabilities and increase their competitive advantage, and that both strong and diversified the value chain internal networks positively affects competitive advantage by enhancing dynamic capabilities.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.4
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• pp.87-100
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• 2022

Early start-up companies have an inherent limitation of lack of resources. Despite these limitations, in order to survive, the entrepreneur's personal ability to efficiently use limited resources is required. In the marketing field, various studies are needed to reduce the business failure rate through establishing growth strategies and innovation. Accordingly, it is necessary to apply the concept of entrepreneurial marketing, which has been researched and developed overseas for 30 years, to fit the domestic reality. According to the flow of this study, an empirical study should be preceded to clarify the influence relationship between entrepreneurial marketing orientation, marketing competency, and management performance, along with a theoretical theorem on entrepreneurial marketing that is suitable for early start-ups and small and medium-sized enterprises(SMEs) and can respond innovatively to changes. The establishment of entrepreneurial marketing orientation and the processes from which this concept leads to business performance through the organization's marketing capabilities and its effects will be empirically verified. For an empirical survey, a survey was conducted on founders of 220 companies, and path analysis using structural equations was used for hypothesis verification. The findings are as follows. First, it was found that the entrepreneurial marketing orientation had a positive effect on both the organization's marketing capabilities and management performance. Second, it was found that the organization's marketing capabilities also had a positive effect on management performance. Third, as a result of empirical analysis of the mediating effect of the organization's marketing capabilities on the relationship between entrepreneurial marketing orientation and management performance, it was found that marketing capabilities showed a greater mediating effect on non-financial performance than financial performance. On the other hand, it was confirmed that marketing performance had a stronger mediating effect on financial performance than non-financial performance. By confirming and presenting the concept and constituent factors of entrepreneurial marketing orientation of domestic start-ups, which were academic gaps for the purpose of this paper, the academic research is differentiated in that they were verified as six components of entrepreneurial marketing. The practical implications of the research results will be that the entrepreneurial marketing-oriented mindset of small and medium-sized companies will optimize market analysis capabilities, network with various stakeholders, and increase the organization's ability to demonstrate marketing capabilities.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.6
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• pp.87-104
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• 2023

Recently, concerns are growing over small and medium-sized companies holding out on debt as domestic loan interest rates have risen sharply due to the prolonged impact of COVID-19 and soaring raw material prices. In addition, loans from small and medium-sized enterprises, which are difficult in the business environment, are increasingly being rejected due to high loan interest rates and excessive submission documents and financial statements-oriented screening of loans by the financial sector. Therefore, since it is necessary to discuss ways to promote financing and investment by SMEs, this study intends to suggest ways to promote investment through the use of SMEs' ESG systems. The purpose of this study is to suggest that the use of ESG evaluation indicators used as non-financial indicators helps predict the corporate value of SMEs and the importance of SMEs actively participating in ESG information disclosure. This study suggests the necessity of introducing and practicing ESG by SMEs where financing is important, and aims to analyze as an empirical result that the use of non-financial indicators helps predict corporate value. As a result of the study, the ESG performance and corporate value of SMEs showed a positive (+) relationship. It can be seen that both the grades and corporate value of SMEs by ESG sector have a positive (+) influence relationship. The total ESG rating was confirmed to have a positive effect on corporate value, and it was confirmed that SMEs with higher ESG environment, social, and governance ratings were evaluated higher. According to the research results, it is suggested that SMEs also need to use ESG evaluation indicators, and in order to promote the growth of SMEs, it is suggested that research on ways to re-examine the corporate value of SMEs is necessary. Therefore, this study suggests that the use of ESG should be actively recommended and implemented as a way to establish a management strategy for SMEs, and that efforts to disclose ESG information can soon help SMEs solve information asymmetry. In addition, SMEs want to understand the investment mechanism that the introduction and practice of ESG can lead to the improvement of the value of SMEs and suggest the necessity of SME-type ESG policies in the future.

• Journal of the Korea Organic Resources Recycling Association
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• v.31 no.4
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• pp.13-28
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• 2023

This study assessed the biochemical methane potential (B_u-P) of three grass species-Poa pratensis (PP), Zoysia japonica (ZJ), and Agrostis stolonifera (AS). B_u-P values were determined as 0.330 Nm³/kg-VS_added for PP, 0.297 Nm³/kg-VS_added for ZJ, and 0.261 Nm³/kg-VS_added for AS. Notably, PP exhibited superior suitability for methane production. The investigation also examined the impact of silage storage duration on PP grass clippings, revealing a 19% decline in B_u-P from an initial value of 0.269 Nm³/kg-VS_added on day 0 to 0.217 Nm³/kg-VS_added on day 180. Throughout the storage period, there were significant increases in neutral detergent fiber (NDF), acid detergent fiber (ADF), and crude protein (CP) contents, rising from 67.59%, 39.68%, and 3.02% on day 0 to 77.12%, 54.65%, and 6.24% on day 180, respectively. These findings highlight the influence of storage duration on the anaerobic digestibility of PP grass clippings. To effectively utilize grass clippings as a renewable resource for methane production, further studies considering factors such as initial moisture content, pretreatment methods, and potential effects of residual pesticides are necessary to optimize anaerobic digestion efficiency for herbaceous biomass.

• Journal of the Korea Institute of Building Construction
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• v.24 no.2
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• pp.273-284
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• 2024

This study investigates the impact of international oil price fluctuations on overseas construction orders secured by domestic and foreign companies. The analysis employs statistical data spanning the past 20 years, encompassing international oil prices, overseas construction orders from domestic firms, and new overseas construction orders from the top 250 global construction companies. The correlation between these variables is assessed using correlation coefficients(R), determination coefficients(R²), and p-values. The results indicate a strong positive correlation between international oil prices and overseas construction orders. The correlation coefficient between domestic overseas construction orders and oil prices is found to be 0.8 or higher, signifying a significant influence. Similarly, a high correlation coefficient of 0.76 is observed between oil prices and new orders from leading global construction companies. Further analysis reveals a particularly strong correlation between oil prices and overseas construction orders in Asia and the Middle East, potentially due to the prevalence of oil-related projects in these regions. Additionally, a high correlation is observed between oil prices and orders for industrial facilities compared to architectural projects. This suggests an increase in plant construction volumes driven by fluctuations in oil prices. Based on these findings, the study proposes an entry strategy for navigating oil price volatility and maintaining competitiveness in the overseas construction market. Key recommendations include diversifying project locations and supplier bases; utilizing hedging techniques for exchange rate risk management, adapting to local infrastructure and market conditions, establishing local partnerships and securing skilled local labor, implementing technological innovations and digitization at construction sites to enhance productivity and cost reduction The insights gained from this study, coupled with the proposed overseas expansion strategies, offer valuable guidance for mitigating risks in the global construction market and fostering resilience in response to international oil price fluctuations. This approach is expected to strengthen the competitiveness of domestic and foreign construction firms seeking success in the international arena.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.19 no.2
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• pp.109-124
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• 2024

The value of platform companies is rapidly increasing, exerting significant influence across industries. Identifying and fostering promising platform companies is crucial for enhancing national competitiveness. Consequently, tailored evaluation standards are necessary for such companies. This study derived investment decision factors specific to platform companies and compared the importance of each factor using Analytic Hierarchy Process (AHP) analysis. Key factors included platform characteristics, finance, entrepreneur (team), market, and product/service attributes. The findings revealed that platform characteristics were deemed the most crucial factor for investors. Specifically, factors such as platform size, ease of value fixation, core participant group, and data value were identified as pertinent for evaluating platform companies. Moreover, analysis distinguished between investors with prior platform investment experience and those without. Significantly, investors with platform investment experience placed greater emphasis on the value of data secured by platform Furthermore, it was observed that investors prioritized future value and growth potential over current value when investing in platform. Notably, founder/team characteristics, typically highly regarded in previous studies, ranked lower in importance in this study, highlighting a shift in focus. The discrepancy between this study's results and prior research on investment decision factors is attributed to the specificity of the questions posed. By focusing on investment decision factors for platform startups rather than generic startup inquiries, investor responses aligned more closely with platform-focused considerations. Given the burgeoning venture investment landscape, there's a growing need for detailed research on startups within specific sectors like IT, travel, and biotech. This approach can replace extensive research covering all startup types to identify investment decision factors suited to the characteristics of each individual industry.

• Korean Journal of Environment and Ecology
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• v.38 no.2
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• pp.217-226
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• 2024

This study aimed to investigate the influence of anions in the air on the purification of fine dust (PM10 and PM2.5) and to evaluate the effects of plants on the generation of anions in the air and the purification of fine dust. Subsequently, the fine dust reduction models were compared according to each factor and plant volume. The characteristics of anion generation by each factor were observed to be in the order of Type N.I (negative ion generator; 204,133.33 ea/cm³) > Type P₃₀ (plant vol. 30%; 362.55 ea/cm³) > Type C (control; 46.22 ea/cm³), indicating that the amount of anion generation in the anion generator treatment group and the plant arrangement group were approximately 4,417 times and 7 times higher, respectively, than that in the untreated group. Consequently, the fine dust reduction characteristics by anion generation source showed that for PM10, Type NI had a purification efficiency 2.52 times higher than Type C, and Type P₃₀ was 1.46 times higher, while for PM2.5, Type NI had a purification efficiency 2.26 times higher than Type C, and Type P₃₀ was 1.31 times higher. The efficiency of fine dust purification by plant volume was in the order of Type P₂₀ (84.60 minutes) > Type P₃₀ (106.50 minutes) = Type P₂₅ (115.50 minutes) = Type P₁₅ (117.60 minutes) > Type P₅ (125.25 minutes) = Type P₁₀ (129.75 minutes), and for ultrafine dust, Type P₂₀ (104.00 minutes) > Type P₃₀ (133.20 minutes) = Type P₂₅ (144.00 minutes) = Type P₁₅ (147.60 minutes) > Type P₅ (161.25 minutes) = Type P₁₀ (168.00 minutes). Thus, a quantitative analysis of the anions and plants for purifying fine dust and suggested matters to be considered for future green space planning and plant planting considering fine dust purification.