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An International Analysis of University Students¡¯ Entrepreneurial Intentions: A Four Country Comparison
  • - Jong-Woon Kim (Hannam University)
[Abstract]
This paper aims to identify determinants of entrepreneurial intentions among young people in four countries. We have used a revised Entrepreneurial Intention Questionnaire including personal traits, demographic characteristics, the three factors of the Theory of Planned Behavior, and entrepreneurial intentions. The empirical basis is formed by surveys among Chinese, Korean, Israel, and the US university students. The main objective is to compare the impact of different economic and cultural contexts. In the total sample, there are strongly significant and positive relationships between the three TPB factors and entrepreneurial intentions. In individual samples, however, there is one factor in every country which is not significant. Gender, academic major, and family member¡¯s business experience have significant impacts, while academic year and motivation to be an entrepreneur have no significant impact. Generally, the level of entrepreneurial intentions are significantly higher among Israel and Korean students than Chinese and the US students. However, Korean students¡¯ entrepreneurial intentions are significantly higher than Chinese and Israel students,¡¯ while the US students¡¯ intentions are significantly lower than Chinese and Israel students,¡¯ after holding all the other factors constant, which may be due to unobserved heterogeneity among countries.
Initial Public Offerings, Earnings Management and Venture Capital: Evidence of Bull and Bear Market Conditions in Korea
  • - Jaemin Cho (Korea Federation of Banks)
  • - Jaeho Lee (Kyung Hee University)
  • - Bong Gyu Jang (POSTECH)
[Abstract]
Earnings management at the time of the IPO is an important issue and has captured considerable attention of academic literatures. However, there have been few studies testing earnings management in the context of market condition, and when financial intermediaries such as venture capital (VC) involve in the IPO process. In this study, we examine the impact of market condition and VC presence on portfolio companies¡¯ earnings management behavior. We find that, with empirical finding in Korea, VCs have incentives to inflate their IPOs¡¯ earnings for harvesting, and that the inflated earnings are more deepened in bear market periods and when less reputable VCs are involved.
Drivers of Knowledge Competence and Performance in Early Internationalising Korean SMEs: A Knowledge-Based View
  • - Taekyung Park (Yeungnam University)
  • - Frank McDonald (University of Liverpool)
  • - Debra Johnson (University of Hull)
[Abstract]
This study investigates the pathways to performance from international business experience of top managers and network value in early internationalising small and medium sized enterprises (SMEs), with a particular focus on the mediating effects of knowledge competence. Analysis of data collected from early internationalising Korean SMEs reveals positive relationships between international business experience of top managers and value of network and knowledge competence that in turn affects international performance. It also finds that knowledge competence fully mediates the link between network value and performance. This study contributes to moving forward our understanding about the pathways to international performance from these drivers and the significance of knowledge competence. Implications, limitations and suggestions for future studies are presented.
Antecedents and Outcomes of Exploitative and Explorative Capabilities in the Innovation Process of Korean Born Globals
  • - So Won Jeong (Sangmyung University)
  • - Byoungho Jin (The University of North Carolina at Greensboro)
  • - Jae-Eun Chung (Sungkyunkwan University)
[Abstract]
The study investigated the role of exploitative and explorative capabilities in the innovation process: 1) how exploitative and explorative capabilities are influenced by international entrepreneurial orientation (proactiveness, risk-taking, and innovativeness); and 2) how exploitative and explorative capabilities affect new product differentiation as the outcome of innovation. Building on the previous research, the study tested a research model using path analysis for the data collected from 192 Korean born globals. The results indicated that, among the three international entrepreneurial orientation variables, only proactiviness positively affected exploitative and explorative capabilities as a key antecedent. Exploitative capabilities were found to be negatively associated with explorative capabilities. While the positive relationship between explorative capabilities and new product differentiation was not supported, exploitative capabilities were revealed to positively influence an innovation outcome variable, new product differentiation. Discussion, implications, limitation, and future direction of this study were further suggested