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The Impact of Entrepreneurs' Cognitive Biases on Business Opportunity Evaluation Depending on Social Networks (기업가의 인지편향이 사회적 네트워크에 따라 사업 기회 평가에 미치는 영향)

  • Jang, Hyo Shik;Yang, Dong Woo
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.18 no.5
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    • pp.185-196
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    • 2023
  • This paper investigates the effects of entrepreneurs' cognitive biases on business opportunity evaluation, given their strong entrepreneurial spirit, which is characterized by innovation, proactivity, and risk-taking. When making decisions related to business activities, entrepreneurs typically make rational judgments based on their knowledge, experience, and the advice of external experts. However, in situations of extreme stress or when quick decisions are required, they often rely on heuristics based on their cognitive biases. In particular, we often see cases where entrepreneurs fail because they make decisions based on heuristics in the process of evaluating and selecting new business opportunities that are planned to guarantee the growth and sustainability of their companies. This study was conducted in response to the need for research to clarify the effects of entrepreneurs' cognitive biases on new business opportunity evaluation, given that the cognitive biases of entrepreneurs, which are formed by repeated successful experiences, can sometimes lead to business failure. Although there have been many studies on the effects of cognitive biases on entrepreneurship and opportunity evaluation among university students and general people who aspire to start a business, there have been few studies that have clarified the relationship between cognitive biases and social networks among entrepreneurs. In contrast to previous studies, this study conducted empirical surveys of entrepreneurs only, and also conducted research on the relationship with social networks. For the study, a survey was conducted using a parallel survey method using online mobile surveys and self-report questionnaires from 150 entrepreneurs of small and medium-sized enterprises. The results of the study showed that 'overconfidence' and 'illusion of control', among the independent variables of entrepreneurs' cognitive biases, had a statistically significant positive(+) effect on business opportunity evaluation. In addition, it was confirmed that the moderating variable, social network, moderates the effect of overconfidence on business opportunity evaluation. This study showed that entrepreneurs' cognitive biases play a role in the process of evaluating and selecting new business opportunities, and that social networks play a role in moderating the structural relationship between entrepreneurs' cognitive biases and business opportunity evaluation. This study is expected to be of great help not only to entrepreneurs, but also to entrepreneur education and policy making, by showing how entrepreneurs can use cognitive biases in a positive way and the influence of social networks.

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A Study on Factors Affecting Entrepreneurial Intention of Pre-entrepreneurs in Agricultural Industry: Focusing on Moderating Effect of Degree of Self-determination (농산업 예비창업자의 창업의도에 미치는 영향요인에 관한 연구: 자기결정성 정도의 조절효과 중심으로)

  • Eun Hee Byun;Chul Moo Heo
    • 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.

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A Study on Entrepreneurship and the Effects of Entrepreneurship Education Program on Entrepreneurship Intention and Entrepreneurship Behavior of University Students (대학생의 기업가정신과 창업교육프로그램이 창업의지와 창업행동에 미치는 영향에 관한 연구)

  • Bae, Byung Yun
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.17 no.4
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    • pp.115-125
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    • 2022
  • In today's era when the concept of a lifelong job has disappeared, starting a business is an essential consideration for university students not only as an alternative factor in finding employment, but also from the perspective of the entire life. Today, most universities in Korea are operating entrepreneurship education programs, such as entrepreneurship classes as a curriculum, and start-up clubs as a non-curricular program to foster entrepreneurship among university students. In previous studies, entrepreneurship is a factor influencing the entrepreneurship intention. The purpose of this study is to empirically examine the effects of university students' entrepreneurship and the entrepreneurship intention through a entrepreneurship education program (participation in a start-up club, taking an entrepreneurship course) on entrepreneurship behavior. There are some empirical studies on whether entrepreneurship education programs such as participation in startup contests affect the entrepreneurship intention of university students, but not much compared to their importance. It is difficult to find an empirical study examining the effects of entrepreneurship and start-up education programs on entrepreneurship intention and entrepreneurship behavior in domestic and foreign studies. Therefore, in this study, one domestic university that operates a start-up club and a entrepreneurship course was selected and the online questionnaire was distributed to all current students, and the collected 127 questionnaires were used for empirical analysis As a result of the study, first, it was confirmed that initiative and risk-taking, which are sub-factors of entrepreneurship of university students, had a significant positive effect on entrepreneurial intention, respectively, and that innovation did not have a significant positive effect. Second, it was confirmed that university students' participation in a start-up club, a sub-factor of the start-up education program, had a significant positive effect on their entrepreneurial intention, and that taking a start-up course did not have a significant positive effect. Third, it was confirmed that the entrepreneurial intention of university students had a significant positive effect on entrepreneurship behavior. Fourth, it was confirmed that the entrepreneurial intention had a mediating effect between each of the factors of risk-taking, and participation in a start-up club and entrepreneurial behavior. This study suggests that university students can increase their risk-taking, increase their entrepreneurial intention by participating in a startup club, and reach a entrepreneurial behavior through this as a medium.

A Study on Factors Affecting BigData Acceptance Intention of Agricultural Enterprises (농업 관련 기업의 빅데이터 수용 의도에 미치는 영향요인 연구)

  • Ryu, GaHyun;Heo, Chul-Moo
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.17 no.1
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    • pp.157-175
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    • 2022
  • At this moment, a paradigm shift is taking place across all sectors of society for the transition movements to the digital economy. Various movements are taking place in the global agricultural industry to achieve innovative growth using big data which is a key resource of the 4th industrial revolution. Although the government is making various attempts to promote the use of big data, the movement of the agricultural industry as a key player in the use of big data, is still insufficient. Therefore, in this study, effects of performance expectations, effort expectations, social impact, facilitation conditions, based on the Unified Theory of Acceptance and Use of Technology(UTAUT), and innovation tendencies on the acceptance intention of big data were analyzed using the economic and practical benefits that can be obtained from the use of big data for agricultural-related companies as moderating variables. 333 questionnaires collected from agricultural-related companies were used for empirical analysis. The analysis results using SPSS v22.0 and Process macro v3.4 were found to have a significant positive (+) effect on the intention to accept big data by effort expectations, social impact, facilitation conditions, and innovation tendencies. However, it was found that the effect of performance expectations on acceptance intention was insignificant, with social impact having the greatest influence on acceptance intention and innovation tendency the least. Moderating effects of economic benefit and practical benefit between effort expectation and acceptance intention, moderating effect of practical benefit between social impact and acceptance intention, and moderating effect of economic benefit and practical benefit between facilitation condition and acceptance intention were found to be significant. On the other hand, it was found that economic benefits and practical benefits did not moderate the magnitude of the influence of performance expectations and innovation tendency on acceptance intention. These results suggest the following implications. First, in order to promote the use of big data by companies, the government needs to establish a policy to support the use of big data tailored to companies. Significant results can only be achieved when corporate members form a correct understanding and consensus on the use of big data. Second, it is necessary to establish and implement a platform specialized for agricultural data which can support standardized linkage between diverse agricultural big data, and support for a unified path for data access. Building such a platform will be able to advance the industry by forming an independent cooperative relationship between companies. Finally, the limitations of this study and follow-up tasks are presented.

The Structural Relationship between Entrepreneurial Competency, Entrepreneurial Opportunity Recognition on and Entrepreneurial Intentions of Middle-aged Eldery Office Workers (중·장년 직장인의 창업역량과 창업기회인식 및 창업의지의 구조적 관계)

  • Choi, In Woo
    • 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.

A Study on the Effect of Healing Experience Program on Satisfaction: Focused on Experience Cost and Experience Time (치유체험프로그램이 만족도에 미치는 영향에 관한 연구: 체험비용과 체험시간을 중심으로)

  • An, Hye-Jung;Kan, Soon-Ah
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.17 no.3
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    • pp.183-200
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    • 2022
  • This study is a study on the effect of a healing experience program on satisfaction in the field of healing agriculture. In the development of a rural experience program, what factors constituting the healing experience program affect satisfaction, and how much time and participation cost affect the satisfaction of the healing experience program from the marketing point of view of the healing experience program. I want to analyze By researching the effect of experience cost and experience time on satisfaction of the healing experience program, I would like to suggest the development direction of the healing experience program. To this end, by empirically analyzing the effect of a healing experience program using experience cost and experience time as parameters on satisfaction, we present a theoretical basis for priority considerations when developing a rural experience program. There are entertainment experience, educational experience, deviant experience, and aesthetic experience as sub-factors of the experience program, experience time and experience cost as parameters, and satisfaction as a dependent variable. In addition, the reliability of the research results was secured by setting the demographic variables of the survey subjects as control variables. The empirical analysis was conducted on 314 valid questionnaires from the unspecified majority who were interested in or aware of the healing experience program. SPSS v22.0 was used, and to test the mediating effect, the three-step verification method of Baron & Kenny(1986) and the SPSS PROCESS Macro Model No. of Andrew F. Hayes(2018). 4 The reliability of the mediating effect was secured by applying the verification method and comparing the analysis resul. As a result of the study, it was found that educational experience (𝛽=.134, t=1.759*) had a positive (+) effect on experience cost, and aesthetic experience (𝛽=.144 t=1.684*) had a positive (+) effect on experience time. +) was found to have an effect. Also, educational experience (𝛽=.239, t=4.112***) was found to have a positive (+) effect on satisfaction, and aesthetic experience (𝛽=.330 t=4.921***) had a positive effect on satisfaction. It has been shown to have a (+) effect. Experience time was found to have a negative (-) inconsistent mediating effect between aesthetic experience and satisfaction. That is, it is the total effect (𝛽=.330 t=4.921***), and the direct effect (𝛽=.349 t=5.241***) increased by 𝛽=.019 compared to the total effect when the experience time was input, while the indirect effect (𝛽=-.019), which was shown to exert a negative (-) mediating effect.

A Study on the Effects of Young Entrepreneur Competency on Startup Performance: Focusing on the Mediating Effect of Network Activities (청년창업가의 역량이 창업성과에 미치는 영향 요인에 관한 연구: 네트워크활동의 매개효과 중심으로)

  • Hyun Chae Song;Chul-Moo Heo
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.19 no.2
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    • pp.141-157
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    • 2024
  • This study analyzes the effect of enterepreneurial competencies on start-up performance through network activities for young entrepreneurs. Enterepreneurial competencies are composed of opportunity recognition competencies, marketing competencies, technical competencies, and creative competencies. A total of 354 questionnaires collected from young entrepreneurs residing in the country were used for empirical analysis. SPSS v28.0 and PROCESS macro v4.3 were analyzed based on the research model of a single-parameter single-mediated model. As a result of the analysis, first, it was found that among the enterepreneurial competencies, opportunity recognition competencies, marketing competencies, technical competencies, and creative competencies have a positive (+) significant effect on network activities. Among them, it was found that marketing competence has the greatest effect on network activities and technical competence has the least effect. Second, network activities were found to have a significant effect on start-up performance in a positive (+) direction. Third, among enterepreneurial competencies, opportunity recognition competence, marketing competence, technical competence, and creative competence were found to have a positive (+) effect on start-up performance. Among them, it was found that creative competence had the greatest effect and technical competence had the smallest effect. Fourth, network activities were found to mediate between enterepreneurial competencies and start-up performance. As for the relative effect size of the indirect effects of independent variables, it was found that marketing competence had the greatest effect on start-up performance and technology competence had the smallest effect. The academic implications of this study include investigating the significance and relationship of various variables, providing verification of theoretical frameworks related to entrepreneurship, identifying the main drivers of start-up success, and suggesting the importance of the network between enterepreneurial competencies and start-up performance. In addition, the practical implications of this study suggest the importance of marketing competencies for networking, and suggest differentiation of competencies. It emphasizes the strategic role of creative competence and provides guidance to policymakers for supporting start-ups on customized policies for fostering valuable start-ups.

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Development and Application of an Appropriate Technology Educational Program Related to Water Acquisition and Purification (물의 취득 및 정수와 관련된 적정기술 교육 프로그램 개발 및 적용)

  • Hyunguk Kim;Sojean Jeong;Sori Jeong;SungYun Mun
    • Journal of Science Education
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    • v.47 no.3
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    • pp.238-250
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    • 2023
  • This study aims to explore the effect of an appropriate technology program related to water acquisition and purification on scientific attitudes and creative problem-solving skills in elementary school students. Thus, this study developed a learning program related to the appropriate technology composed of 8 sessions, and some were for exploring water acquisition-related scientific principles and the appropriated technology of Warka Tower, and the others were for conducting water purification-related inquiry experiments, such as Life Straw and Drinkable Book, and the last two sessions were for presenting practical tasks through creative ideas and designs and carrying out the relevant campaign activities. For research subjects, this study selected 51 students from two sixth-grade classes, and after modifying the scientific attitude questionnaire and the creative problem-solving skill questionnaire fit for the environment and situation, this study conducted a paired-sample t-test by applying both the questionnaires before and after this program. In addition, while looking into the correlation between scientific attitudes and creative problem-solving skills, based on the post-test results, this study examined relationships between sub-domains perceived by the students after this program was applied. The results can be summarized as below. Out of all the scientific attitudes, curiosity, openness, cooperation, and creativity showed statistically significant results with an increase in the average value when their overall averages of the pre-test were compared with those of the post-test. With creative problem-solving skills, the domain of mastering a specific area and the domain of divergent thinking showed statistically significant results. The correlation analysis results showed that cooperation out of the scientific attitudes had a significant correlation with all the domains of creative problem-solving skills, especially showing the highest correlation coefficient with such sub-domains as critical and logical thinking. All the four domains of creative problem-solving skills showed a number of significant correlations with the sub-domains of scientific attitudes. Through the research results above, this study has several implications on how and where to apply such appropriate technology-related topics in the future and various responses from students.

Patterns in the Use and Perception of Digital Breast Tomosynthesis: A Survey of Korean Breast Radiologists (디지털 유방 토모신테시스에 대한 국내 사용 현황과 인식에 관한 설문조사 연구)

  • Eun Young Chae;Joo Hee Cha;Hee Jung Shin;Woo Jung Choi;Jihye Kim;Sun Mi Kim;Hak Hee Kim
    • Journal of the Korean Society of Radiology
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    • v.83 no.6
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    • pp.1327-1341
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    • 2022
  • Purpose To evaluate the pattern of use and the perception of digital breast tomosynthesis (DBT) among Korean breast radiologists. Materials and Methods From March 22 to 29, 2021, an online survey comprising 27 questions was sent to members of the Korean Society of Breast Imaging. Questions related to practice characteristics, utilization and perception of DBT, and research interests. Results were analyzed based on factors using logistic regression. Results Overall, 120 of 257 members responded to the survey (response rate, 46.7%), 67 (55.8%) of whom reported using DBT. The overall satisfaction with DBT was 3.31 (1-5 scale). The most-cited DBT advantages were decreased recall rate (55.8%), increased lesion conspicuity (48.3%), and increased cancer detection (45.8%). The most-cited DBT disadvantages were extra cost for patients (46.7%), insufficient calcification characterization (43.3%), insufficient improvement in diagnostic performance (39.2%), and radiation dose (35.8%). Radiologists reported increased storage requirements and interpretation time for barriers to implementing DBT. Conclusion Further improvement of DBT techniques reflecting feedback from the user's perspective will help increase the acceptance of DBT in Korea.

Dietary Behavior Related to Salty Food Intake of Adults Living in a Rural Area according to Saline Sensitivity (농촌 지역의 중년이후 성인의 염분 민감도에 따른 짠 음식 섭취 관련 식행동)

  • Kim, Mi-Kyoung;Han, Jang-Il;Chung, Young-Jin
    • Journal of Nutrition and Health
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    • v.44 no.6
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    • pp.537-550
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    • 2011
  • This study was conducted to identify behavioral characteristics of salty food intake according to saline sensitivity of adults living in a rural area. Anthropometry and blood pressure were measured and salt intake-related dietary behavior was surveyed by questionnaires through interviews with 402 subjects aged ${\geq}$ 40 years in Chungcheongbuk-Do, Korea. The percentages of overweight and obese among the subjects were 37.8% and 3.8% respectively. Mean blood pressure of the subjects was in the normal range, but the distribution of subjects who were normotensive, high normal, and hypertensive was 48.7%, 17.7%, and 33.6% respectively. Approximately 27% of all subjects habitually consumed salty food, which was the smallest group, followed by 38.1% normal and 35.1% not-salty food. However, 34.6% of the eldest group of ${\geq}$ 65 years consumed salty food. The saline insensitive group showed a higher percentage of irregular meals, overeating, speed-eating, an unbalanced diet, a preference for fried food, and habitual intake of salty foods. These subjects recognized the risk for eating salty food, but they lacked the will to reduce their salty food intake. Compared to spouses and family members, experts such as doctors, nurses, and dieticians were the most influential for reducing the salty food intake of subjects. Saline sensitive group had relatively better control over salty food intake at every meal, eating out, and even when eating salty food that the spouse preferred. The saline sensitive group ate more frequently vegetables and fruits, whereas the saline insensitive group ate more frequently hot spicy foods. In conclusion, the results suggest that it is necessary to establish a social atmosphere toward reducing salt intake at the level of the government and food industry and to set action plans to be available for nutrition education programs to reduce salt intake nationwide.