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Mirae Asset Financial Group Entrepreneurship and Globalization
Yong Jin Kim
Seung Hye Jin
Entrepreneurship is known to be the driving force for economic growth and the power of social advancement by creatingnew products and services through new technological innovation, innovating organizations, creating jobs, and thus leading to the growth of companies and nations. Entrepreneurship characteristics can be categorized into five attributes: first, finding business opportunities and starting new businesses through vision and spirit of pioneer, second, pursuing continuous innovation, third, willing to accept risk and have strong motivation for achievement, fourth, putting effort on nurturing human resources, finally fifth, managing companies through transformational leadership. I analyzed Mirae Asset Financial Group from entrepreneurship perspective to find the success factors even in the turbulent environment. This study reavels the success of Mirae Asset Financial Group relies on the entrepreneurial
spirit of CEO Park and his colleagues through which they always find ways forward. |
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The Effect of Knowledge Intensive Business Services on the Korean Economy
Yong Jae Shin
Yong Jin Kim
This study is designed to examine how much impact KIBS as a whole has on South Korea’s economy and which one among KIBS has had the strongest impact towards the development of South Korea’s economy. It also aims to investigate which knowledge- based industry has influenced Korea’s primary, secondary, and tertiary industries the most. This study applies an inter-industry analysis to quantify KIBS’ economic spillover into other industries. Each KIBS sector’s effects on the three industries in terms of production-, value added-, labor cost-inducing Effects, and supply shortage effect have been examined. The results of this study are expected to contribute not only to the development of KIBS industry itself but also to the establishment of KIBS utilization policy and other industrial development policies based on economic effects between KIBS and other industries. |
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What Policy We Need for Cryptocurrency Blockchain and ICO to Facilitate Funding and Innovation for SMEs?
Jaesung James Park
Myungwon Kim
We discuss in this paper the cryptocurrency Blockchain and ICO from the perspective of SME financing and business innovation, and figure out policy directions. Blockchain is a new way of recording in which all terminals on the network share information, thereby eliminating the need for reliability verification (“Trustlessness”). Cryptocurrency is paid as compensation for maintaining such recording system. DApp (Decentralized Application) Coin, which is based on existing cryptocurrencies, is a token, which allows entrepreneurs and ventures to raise funds only with ideas and visions. ICO, or token generation fnancing, is characterized by its ability to raise funds only at future values. Although the speculative nature of ICO is controversial, it is necessary to implement policies to minimize the adverse effects of investment in cryptocurrency and to make the most of cryptocurrency blockchain for SMEs. The main challenges are as follows. First, by using the blockchain technology in the SME supply chain, if pre-set conditions are met, subcontractors will be automatically paid. Second, by introducing blockchain technology to unlisted stocks which are distributed in the form of “stock non-issuance certificate,” liquidity is given to unlisted stocks. Third, it is necessary to establish a private blockchain in which government organizations and agencies participate, and implement smart contracts to automatically support applicants when they meet agreed conditions.
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Learning from Others’ Failure and Successful Innovation in Entrepreneurship: Evidence from France
Carole Hascoet
Namil Kim
Wonjoon Kim
Jae Won Kang
People learn not only from their own success but also from others’ failure. However, we have limited understanding of whether this common knowledge also hold for entrepreneurs. To fill this gap, we analyze whether nascent entrepreneurs also learn from failure and successful innovation of other companies to create their own ventures. Using French firms data from 2010 to 2014, we find the empirical evidence of this kind of learning phenomena. Fixed effect regressions show the positive relationship between the number of entrepreneurs and the number of bankruptcy in a given region. The young and innovative enterprises also show the positive impact on the establishment of start-ups in a region.
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중소기업연구
