• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.6
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• pp.159-174
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• 2022

Entrepreneurs should continuously invest resource and capital for a long time to get tangible business results. In order to be successful, despite difficulties, it is essential for entrepreneurs to continue entrepreneurial businesses without giving up too early. Thus, it can be said that organizational commitment of entrepreneurs is essential for success. According to previous studies, the organizational commitment of entrepreneurs has a significant effect on organizing, establishments of new firms and new product developments. The purpose of this article is to examine the relationships among learning orientation, innovativeness and organizational commitment of entrepreneurs. Especially, we focus on the mediating effect of innovativeness in the relationship between learning orientation and organizational commitment and the moderating effect of career relevance among the relationships. Based on empirical analysis, we reported the following results. First, learning orientation, innovativeness and career relevance of entrepreneurs had significant positive effects on organizational commitment. Second, it was found that innovativeness of entrepreneurs has a partial mediating effect on the relationship between learning orientation and organizational commitment. Third, using Baron & Kenny's hierarchical multiple regression analysis, we examined the moderating effect of career relevance among the relationships of learning orientation, innovativeness and organizational commitment. Third, because the interaction term was found to be positively significant, it was concluded there is a moderating effect of career relevance between learning orientation and innovativeness. This means, when career relevance was higher than average, the influence of learning orientation on innovation increases even more. Fourth, it was also found there is a moderating effect of career relevance between learning orientation and organizational commitment. However, the results of the mediated moderating effect analysis showed the moderating effect of career relevance between learning orientation and organization commitment is an indirect effect of moderating effect of career relevance between learning orientation and innovativeness mediated by innovativeness.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.2
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• pp.187-200
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• 2023

The purpose of this study is to examine how the start-up education, start-up support system, and start-up mentoring directly and indirectly conducted in universities affects entrepreneurial Intention, and to present programs and directions that can increase the possibility of start-up for college students. This study analyzed the effects of college students' satisfaction with university entrepreneurship education, awareness of the entrepreneurship support system, and entrepreneurship mentoring on entrepreneurial will, and then analyzed how entrepreneurship efficacy affects entrepreneurial will as a moderating effect. The recognition of the start-up support system was divided into the government start-up support policy and the university start-up support project, and start-up mentoring was divided into mentoring function (problem-solving function, networking function, communication function, motivation function) and mentor trust (cognitive trust, emotional trust). Regression analysis was performed on satisfaction with college entrepreneurship education, perception of entrepreneurship support system, entrepreneurship mentoring as independent variables, and willingness to entrepreneurship as dependent variables. In addition, entrepreneurship efficacy was designated as a moderating variable and analyzed. As a result of the study, first, it was found that satisfaction with start-up education had a positive (+) effect on college students' willingness to start a business. Second, among the start-up support systems, university start-up support projects were found to have a positive (+) effect on college students' willingness to start a business. Third, as a result of verifying whether entrepreneurial self-efficacy has a moderating effect on the relationship between college start-up support projects and college students' willingness to start a business while recognizing the start-up support system, it was found to have a moderating effect. The following implications can be derived based on the analysis results of this study. First, efforts to improve start-up education will be needed to increase the satisfaction of start-up education. Second, Through the operation of the start-up counseling center in the university, it will be possible to recognize the education system supported by the university, the university start-up support project that can carry out the indirect experience of start-up, and the government start-up support policy that supports funds. Third, It will be necessary to open a program that can provide start-up mentoring through connection with mentors in the start-up field, such as professors, employees, and senior start-ups in universities. Fourth, It is necessary to develop thorough education on the preparation process of start-ups, start-up special lectures where senior start-ups can indirectly experience the failure of start-ups, and programs for customized start-up education according to college students' major and individual tendencies.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.3
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• pp.127-139
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• 2023

During the process of preparing for and initiating a startup, startup entrepreneurs allocate a significant amount of time to developing a business plan. Within this process, the documented business plan serves not only as a roadmap for the venture but also as a communication tool for capital acquisition and internal team collaboration. However, is the business plan, meticulously crafted by entrepreneurs, actually effective in generating startup performance? To answer this question, this study empirically analyzed the impact of a business plan on startup performance. Additionally, it examined how the relationship between the business plan and performance changes based on the satisfaction levels of entrepreneurs regarding the business plan. Through the analysis, the study validated the influence of the completeness of the business plan and entrepreneurial satisfaction on startup performance, and derived implications. To conduct the empirical analysis, a survey was conducted among 150 entrepreneurs. Regression analysis was performed to examine the relationship between the completeness of the business plan and performance, and the sample was further divided into two groups: startups with less than three years of operation and startups with three or more years of operation, for secondary analysis. The analysis results revealed that the completeness of the startup's business plan has a positive impact on both financial and non-financial performance. Furthermore, it is observed that the entrepreneur's satisfaction with the business plan had a moderating effect on the relationship between the business plan and financial performance. Moreover, for startups that are less than three years old, the entrepreneur's satisfaction with the business plan exhibits a moderating effect on the relationship between the completeness of the business plan and non-financial performance. This study holds significance as it reaffirms the importance of business plan development as a means to achieve sustainable growth for early-stage startups and empirically validates its significance. It is expected that this study will provide valuable insights for future startup entrepreneurs to better understand the importance of business planning and contribute to reducing the failure rate of early-stage startups.

• 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.1
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• pp.251-265
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• 2022

According to the 2019 statistics of the National Statistical Office, the population of old people over 65 is 7.69 million which consists of 14.9% of total population in Korea, and the world's fastest compressed-aging is being processed. Employees engaged in financial business as representative high-wage workers tend to choose voluntary retirement regardless of their business types, and rarely get a new job or establish their own business successfully. This study analyzes the effects of retirement expectations, social supports, and entrepreneurial intention for employees engaged in financial business, and the differences by individual characteristics on the preparation for their old age. The subjects include 280 people working at Seoul metropolitan and Daegu area. The data were analyzed with the SPSS Win Ver. 18.0 for frequency analysis, reliability analysis, factor analysis, regression analysis, etc. and the results of the study are as follows. First, the result of analyzing the effect of retirement expectations of employees engaged in financial business on the preparation for old age shows that the retirement expectations of the people who consider retirement is a new start meaningfully affect the financial and physical preparations for old age. Second, it is shown that family relations for employees engaged in financial business meaningfully affect the financial preparation, and family relations and friendship relations meaningfully affect the emotional and social preparations, despite social supports do not relevantly affect the financial preparation for old age. Third, it is also shown that the entrepreneurial intention of employees engaged in financial business does not relevantly affect the financial and physical preparations, but meaningfully affects the emotional and social preparations for old age. Fourth, the result of analyzing the effect of the individual characteristics of employees engaged in financial business on the preparation for their old age shows that age, marital status, and job grade do not relevantly affect, but the experience of entrepreneurship education more affects the preparation for old age than no-experience.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.2
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• pp.115-128
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• 2022

This research aims to analyze of the Effect of Army Start-up Support Program (hereinafter, ASSP) on the level of discharged or scheduled to be discharged soldier's satisfaction of their military service. In addition, this paper also seeks to elaborate on how those Army-supported programs, such as Start-up competitions, mentoring, camp, and school, can increase the level of military service satisfaction. By participating in those programs, service members can leverage their time in the military to make opportunity for their future career rather than consider it as a career break, increasing their military service satisfaction. Finally, on the basis of findings, this paper advocates for expanding Service Members startup Support Program of government agencies and municipalities and enhancing younger population's individual capabilities through ASSP. This research used ASSPs, such as Army Start-up competitions, mentoring, camp, and school, as independent variables. For controlled variables, this paper takes demographic elements such as status and career path of the participants. Our empirical analysis reveals that ASSP has a direct impact on the military service satisfaction, supported by the statistics from the hierarchical regression analysis. However, the research also suggests that individual' military service satisfaction from ASSP may differ from one another in accordance with the controlled variables such as status and career of the participants. This paper proves that ASSP can play a substantial role in enhancing service members' capabilities during their time in military and that Army fosters talent and connects itself to the nation and society. In addition, this research could contribute to increasing employment rate of and expanding Start-up support program of government agencies and municipalities for younger population by providing empirical results which advocates the latter's necessity.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.3
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• pp.201-214
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• 2022

This study theoretically and empirically examined whether organizational communication mediates the effect of organizational learning culture perceived by members in the organization on task performance and contextual performance. Organizational learning culture is defined as a culture that is good at creating, acquiring, transferring, and modifying behavior to reflect new knowledge and insights. The hypothesis of this study is that the perceived organizational learning culture can increase performance through organizational communication between members. In particular, we measured communication within the organization into three types: upward, horizontal, and downward. These communications were set as mediating variables. In empirical studies, independent variables were perceived organizational learning culture, mediation variables were upward, horizontal and downward communication, and dependent variables were task performance and contextual performance. Hypothesis 1 is that the organizational learning culture will have a positive effect on employees' tasks and contextual performance. Hypothesis 2 is about the mediating effect of communication on the relationship between Hypothesis 1. In the empirical study, after verifying the validity and reliability of the research variables, correlation analysis and hypothesis verification were conducted. Hypothesis 1 was verified through regression analysis, and all detailed hypotheses were supported. To verify Hypothesis 2, we conducted a bootstrap test using process macro to separate the total, direct, and indirect effects and examine the significance of the indirect effects. As a result, Hypothesis 2 was partially supported. Downward communication mediated organizational learning culture and task and contextual performance, and horizontal communication mediated organizational learning culture and contextual performance. The mediating effect of upward communication was not significant. The results of this study contributed to the suggestion of implications, research limitations, and research directions. Organizational learning culture is the direction and intention of the organization to achieve its goals through the learning and growth of its members. By strengthening internal motivation, organizational members can take voluntary desirable actions that help groups and organizations as well as essential tasks given. since this relationship appears as a medium of downward communication, organizations can strengthen the relationship between organizational learning culture and performance through leadership education.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.3
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• pp.33-50
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• 2022

While the number of female entrepreneurs has been increasing, and female entrepreneurship has been increasingly perceived as a driving force of sustainable economic development, there is a lack of studies of female entrepreneurship, particularly in the non-Western regions. This study aims to explore current levels of entrepreneurial competences of female college students in four Asian countries (i.e., Indonesia, Korea, Philippines, and Vietnam), differences in the competences between countries, and factors affecting their entrepreneurial competences. Using online surveys, the present study collected data from 516 female Asian college students and examined their entrepreneurial competences in six dimensions-entrepreneurship, sensibility, business management, relationship management, strategic management, and multi-tasking. This study also investigated effects of four variables (i.e., entrepreneurship course taking experiences, on-campus entrepreneurship experiences, off-campus entrepreneurship experiences, and entrepreneurial intentions) on the six aspects of entrepreneurial competences. Data analysis reveals that female Asian college students as a whole group possess quite high levels of entrepreneurial competences while the Filipino students show the biggest competence in all the six dimensions measured. As regards affecting factors, this study finds that, in the total sample, regression equations are significant in all the six dimensions of entrepreneurial competences. On-campus experiences have significantly positive effects on those six dimensions while course taking experiences and entrepreneurial intentions positively affect three different dimensions each. However, out-of-campus experiences turn out to be negative though their effects are insignificant. Meanwhile, in individual samples, different factors affect different dimensions of entrepreneurial competences. Based on these findings, the present study suggests some actions for promoting female entrepreneurship and for conducting future studies.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.19 no.1
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• pp.55-73
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• 2024

Unicorn companies are attracting attention around the world as they are recognized for their high corporate value in a short period of time as an innovative business models. Their growth process presents good lessons for the startup ecosystem and have a positive impact on national economic development and job creation. However, previous studies related to unicorn companies are focused on 'event studies' and 'case studies' such as characteristics of founders, environmental factors, business models and success/failure cases of companies already recognized as unicorns rather than a multifaceted approach. The occurrence of unicorn companies and Macroscopic analysis of related factors is lacking. Against this background, this study are considering the characteristics of unicorns examined through previous research and the current status unicorns with a high proportion of technology companies, the purpose was to analyze the impact of the country's technological competitiveness, such as 'technology human resource index', 'R&D index', and 'technology infrastructure index', on the increase in unicorn companies. For statistical analysis, data published by various international organizations, the Bank of Korea, and Statistics Korea from 2017 to 2020 and unicorn company data compiled by CB Insights were used as panel data for 44 countries to be tested by multiple regression analysis. As a result of the study, it was confirmed that the number of science majors had a positive (+) effect on the increase of unicorn companies in the case of technology human resource index, and in the case of R&D index, the total amount of R&D investment had a positive (+) effect on the increase of unicorn companies, while the number of Triad Patents Families and the number of scientific and technological papers published had a negative (-) effect on the increase of unicorn companies. Finally, in the case of technology infrastructure index, it was confirmed that the number of the world's 500th-ranked universities had a positive (+) effect on the increase of unicorn companies. This study is the first to reveal the causal relationship between national technological competitiveness and unicorn company growth based on country-specific and time-series empirical data, which were insufficiently covered in previous studies. and compared to the UN's ranking of the global industrial competitiveness index and the OECD's total R&D investment by country, Korea is considered to have technological and growth potential, while the number of unicorn companies driving growth as leaders of the innovative economy is relatively small, so the research results can be used when establishing policies to discover and foster unicorn companies in the future.

• Therapeutic Science for Rehabilitation
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• v.13 no.1
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• pp.35-47
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• 2024

Objective : This study aimed to investigate the association between lifestyle factors and risk of frailty and depressive symptoms among older South Korean adults. Methods : This study included 10,072 individuals aged 65 or older from the 2017 National Survey of Older Koreans, a cohort of community-dwelling older South Koreans. The following lifestyle factors were assessed: physical activity, nutrition management (NM), and leisure/social activity participation (AP). Frailty was measured using the frail scale and depressive symptoms were measured using the Geriatric Depression Scale. Logistic regression analyses were performed to determine the odds ratios. Results : All lifestyle factors were associated with the risk of frailty and depressive symptoms in the study population. Regular exercise (≥3 times/wk, odds ratio [OR] = 0.59, 95% confidence interval [95% CI] = 0.52~0.91; OR = 0.66, 95% CI = 0.59~0.75), active NM (OR = 0.86, 95% CI = 0.80~0.91; OR = 0.81, 95% CI = 0.76~0.86), leisure AP (OR = 0.79, 95% CI = 0.74~0.84; OR = 0.71, 95% CI = 0.66~0.77) and social AP (OR = 0.92, 95% CI = 0.88~0.96; OR = 0.82, 95% CI = 0.78~0.87) were correlated with lower odds ratios of frailty and depressive symptoms. Conclusion : Adopting a healthier lifestyle characterized by regular exercise, balanced nutrition, and active engagement in various activities can effectively reduce the risk of frailty and depressive symptoms among the older population. Ultimately, this study emphasized the essential role of lifestyle choices in promoting the physical and mental well-being of older adults.