• Journal of the Economic Geographical Society of Korea
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• v.25 no.1
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• pp.1-22
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• 2022

The purpose of this study is to analyze key concepts of Entrepreneurial Ecosystems and to suggest implications for economic geographical studies. The definition and concept of entrepreneurship as well as changes of its research trends were examined. By combining entrepreneurship and geography, Entrepreneurial Ecosystems, which have recently emerged as important concepts and theories, were examined with the focus on the key concepts such as 'actors and factors', 'productive' and 'territory'. It is important that the individual, organizational and institutional components such as entrepreneurs, start-ups, existing companies, institutions and cultural elements are interconnected to build communities through 'entrepreneurial recycling'. Entrepreneurial Ecosystems support to create innovative high-growth start-ups based on entrepreneurial culture in the local region. Despite conceptual limitations, theoretical and empirical analyses should be conducted from economic geographical perspectives in order to reveal the geographical and spatial processes of productive entrepreneurship and to suggest policy implications for region-based start-up ecosystems.

• Asia-Pacific Journal of Business
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• v.14 no.3
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• pp.241-250
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• 2023

Purpose - The purpose of this study was to investigate the perception of 'unmanned cafes' on the network through big data analysis, and to identify the latest trends in rapidly changing consumer perception. Based on this, I would like to suggest that it can be used as basic data for the revitalization of unmanned cafes and differentiated marketing strategies. Design/methodology/approach - This study collected documents containing unmanned cafe keywords for about three years, and the data collected using text mining techniques were analyzed using methods such as keyword frequency analysis, centrality analysis, and keyword network analysis. Findings - First, the top 10 words with a high frequency of appearance were identified in the order of unmanned cafes, unmanned cafes, start-up, operation, coffee, time, coffee machine, franchise, and robot cafes. Second, visualization of the semantic network confirmed that the key keyword "unmanned cafe" was at the center of the keyword cluster. Research implications or Originality - Using big data to collect and analyze keywords with high web visibility, we tried to identify new issues or trends in unmanned cafe recognition, which consists of keywords related to start-ups, mainly deals with topics related to start-ups when unmanned cafes are mentioned on the network.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.1
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• pp.29-43
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• 2022

This study measures the realized rate of return of venture capital(VC) fund at the level of investment agreement(as opposed to fund level returns reported by most of the relevant studies). It also measures the stock price return of the VC's portfolio firms (unlisted start-ups) at firm level(as opposed to fund returns) and its variance for the first time using unique data of the VC funds held by the Korean Venture Capital Association. Results of the analysis confirm that VC fund returns exceed individual stock price returns. Additionally, it is confirmed that VC portfolio firms exhibit a positive relationship between risk and return measured by total risk. Finally, we find that stock price returns at firm level are lower than that implied by the associated levels of risk. Consequently, this may make individual investors hesitate to directly buy unlisted startups' stocks even when investment in individual startup companies guarantees high risk-high returns relationship.

• Journal of Industrial Convergence
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• v.18 no.6
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• pp.1-7
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• 2020

In this study, we hypothesized that the needs for start-up support services may vary depending on the founder's psychological characteristics, such as self-efficacy or his attitude toward uncertainty. To verify this, a survey was conducted on the founders of 86 companies located in Business Incubators at Seoul and Daejeon and an empirical analysis was conducted based on the data. According to the analysis, the higher the self-efficacy of the founder, the more active he expressed his willingness to accept the start-up support service, which aims to provide start-up zones to busy areas outside the university. While the founder, who has experienced failure in the past, responded positively to attracting customers located outside the university. The results of this study supported the hypothesis and suggest that differentiated start-up support services should be designed by including not only characteristics at the level of start-up companies, such as industries and growth stages, but also the psychological characteristics of start-ups in important consideration.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.2
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• pp.19-32
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• 2020

The purpose of this study was to investigate the influence factors of the university level centering on the entrepreneurial performance of the university students and full-time faculties in the situation of increasing interest in entrepreneurial university. In order to achieve the purpose of the study, a panel data was established from 2015 to 2018 on the basis of the university notification data. The panel data included universities with data on the number of university students and full-time faculty founders for at least two years. Through this, four year data from 154 universities were used for analysis. As an analysis method, frequency analysis and descriptive statistics were conducted to understand the characteristics of the university. Since then, panel negative binomial regression analysis has been conducted in consideration of the longitudinal features and distribution of the data. Also, based on the Hausman test results, the results were interpreted based on random effect model. The results of this study are as follows. First, as a result of the analysis of the entrepreneurial performance and the change trend of the domestic university from 2015 to 2018, the entrepreneurial performance of the university has been steadily increasing in the last four years, and the increase in the number of university student entrepreneurs was relatively higher than the full-time faculties. Second, economic and educational approaches need to be combined to promote university students' start-ups. The university factors that promote the start-up of university students were found to be scholarships, start-up grants, startup lectures, and startup clubs. Third, the openness and regional characteristics of the univeristy can promote the establishment of university students. Fourth, the establishment of a research environment and support for start-ups for full-time faculty members can enhance their start-up performance. The university factors that promote the start-up of full-time faculty were research funds and staffes who support start-up. The conclusions drawn from these findings are as follows. First, overall efforts are needed to develop into an entrepreneurial university. Second, in order to change into an entrepreneurial university, direct support for entrepreneurship is needed. Third, as an entrepreneurial university, it is necessary to find a way to bridge the gap by university according to region and size. Fourth, it is necessary to reinforce the support for linking the research results of universities to start-ups. Fifth, it is necessary to improve the atmosphere for full-time faculty members to be entrepreneur.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.12 no.3
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• pp.75-86
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• 2017

The development of web technologies and the generalization of smartphones have dramatically increased the number of social media users using the Internet. As a result, companies are perceived social media as a major marketing tool and operate a variety of SNS channels. In particular, start-ups conducting businesses with limited resources, social media is being used as an effective marketing tool to meet many potential customers at a low cost. Among them, facebook is the most used channel in the world and plays an important promotional tool not only in overseas but also in marketing activities of domestic start-ups. The purpose of this study is to analyze the relationship between satisfaction and purchase intention according to four personal characteristics of users who use social media contents and to measure the mediating effect of satisfaction on the relationship between content type and purchase intention. To this end, we classified into three types based on the previous research, and social media content is provided to 200 fans of Minbak Danawa(Minda), one of representative start-ups related to accommodation, The questionnaires were conducted for 3 weeks, and a total of 145 copies were collected. All the collected questionnaires were used for statistical analysis through SPSS 18.0. The empirical results show that all three types of content, such as task-oriented, self-oriented, and interaction-oriented, have a significant effect on the satisfaction level. Among them, it is confirmed that the satisfaction level plays a mediating role on the relationship between task-oriented contents and purchase intention. And the user 's personal characteristics showed a partially moderate effect on the satisfaction according to the content type. Therefore, social media content provided by corporations has an important effect on consumer satisfaction and purchasing, in order for start-up to prevail in the market, it is necessary to have an operational strategy to communicate with customers continuously through systematic contents analysis and planning. The result of this study suggests effective ways to build a social media marketing strategy for start-ups and suggests ways to utilize contents considering the characteristics of internet users.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.4
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• pp.1-15
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• 2020

As the entrepreneurial ecosystem turns out to be a leading factor in improving nation's entrepreneurship, many studies are underway in the country to develop the start-up ecosystem. Although the entrepreneurial ecosystem is receiving attention as an essential factor for the nation's economic growth as well as entrepreneurship due to its inter-relationship with start-ups, government agencies and investors, criticism of measurement indicators has been increasing due to the different institutional and political contexts of each country, including the various definition of start-up ecosystem. In this study, we develop indicators that are suitable for domestic conditions in Korea and that can measure the level of start-up ecosystems in each regional level. FGI and Delphi surveys by scholarly experts in each field of start-ups & entrepreneurship were conducted to verify how well existing indicators fit the domestic situation and to develop indicators that can measure the local entrepreneurial ecosystem in Korea through close examination. As a result, the local entrepreneurial ecosystem consisted of three to four sub-components and 38 sub-components, each consisting of seven indicators, including Policy, Investment, Culture, Market, Human Capital, Support and Knowledge. It is expected that this research will be used to diagnose local start-up ecosystems and to propose discriminatory policies that can complement regional strengths and weaknesses.

• The Journal of Industrial Distribution & Business
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• v.10 no.10
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• pp.67-79
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• 2019

Purpose - The purpose of this study was to explore the model that supports the recipient country by using the ODA (Official Development Assistance) project and at the same time fits the global start-up/employment support of donor country with CSV business model. Specifically, we wanted to examine the feasibility of the project based on the existing ODA projects. Research design, data, and methodology - As the methodology, case studies and interview were conducted as well as literature studies. The case analysis is based on a press release of the entire KOICA's ODA project, which has been implemented for one year, based on 2017. After consideration, the actual results and future feasibility were analyzed. The interviews were conducted on senior Korean officials and Indian officials involved in Vietnam's ODA project. Results - As a result, some of the project cases applied and analyzed according to the model of this study were judged to be highly potential. Based on the results of this analysis, as the model derived from this study pursues, the global business model is developed under the CSV (Creating Shared Value) strategy through ODA projects to support recipient countries and global start-up/employment support of donor country. The possibility of simultaneously pursuing this model based on CSV business model was also confirmed. Conclusions - In the past, free aid agencies like KOICA focused solely on supporting recipient countries, but in terms of sustainability, they could discover the potential of supporting the global start-up/employment of the donor country using CSV business model in ODA project. In this study, we tried to find the theoretical background and potential possibilities in some ODA projects based on CSV business model. As a result of the analysis of KOICA ODA projects in 2017 and interviews, some ODA projects could be used to improve the economic development of the recipient country as well as the global start-up/employment of the donor country. Therefore, it is necessary for the ministries of the government to promote ODA projects to understand the framework that achieves these two objectives simultaneously and to promote ODA projects based on various strategic considerations.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.1
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• pp.73-83
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• 2019

As the awareness of the importance of Start-up increases, the number of entrepreneurs who decide to start their career is gradually increasing. However, the rate of start-up failure is still high and the qualitative level is very low due to lack of start-up performance. In this study, we analyzed the effect of entrepreneurship capability and start-up support system on start-up performance. To that end, 361 valid data were collected from businesses that were established less than seven years ago in Jeollabuk-do on August 1, 2018 and used for study verification through SPSS 21 and AMOS 21. First, the entrepreneurial competence (entrepreneurial competence, managerial competency) has a positive effect on the start-up support system and the technical competency has no significant effect. Second, entrepreneurial competence (entrepreneurial competence, managerial competency, technical competency) has a significant effect on entrepreneurial performance. However, entrepreneurial competence has a meaningful effect on the start-up performance of entrepreneurs with a negative (-) effect. Third, it was found that the start - up support system had a positive effect on the start - up performance. Finally, the start - up support system proved to have mediating effect between entrepreneurial competence and start - up performance. The implications of this study are as follows. In order to increase the start-up performance of the start-up companies, it is proved that increasing the capacity of the start-ups is an important factor. In addition, empirical studies have proved that the use of start-up support system is an important factor that directly or indirectly has a significant effect on start-up performance, We have made meaningful implications that actively supporting and utilizing entrepreneurship is necessary to enhance start-up performance.

• Journal of Korea Society of Industrial Information Systems
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• v.25 no.6
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• pp.171-192
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• 2020

The purpose of this study is, first, to empirically verify the relationship between the influences of the start-up performance and the inherent fear factor of failure on the start-up performance through the preparation of the start-up. Second, this study aims to prove the influence of the moderating effect of social support on the relationship between start-up preparation and the burden of start-up failure. The research subjects were sampled and analyzed by 298 start-ups who are currently starting their own businesses. This study founds that preparation of start-up items, which is a subordinate theory of start-up preparation, had a significant effect on start-up performance, and that anxiety about failure had a significant effect on start-up performance. Using the SPSS statistical program, the hierarchical regression analysis proved the moderating effect of social support in the relationship between star-tup preparation, start-up failure burden and startup performance. Furthermore, the moderating effect of social support among start-up preparation, start-up failure burden and start-up achievement was analyzed, but no significant results were found for start-up failure burden. Besides, the effect of the opposite concept of independent variables on the dependent variables at the same time is to be analysed.