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- Jonghoon Bae (Seoul National University)
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[논문다운받기]
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| This study aims to deconstruct the debates over corporate governance, an institution that controls a firm's value-creation activities and allocates their outcomes, in the context of productivity gains accelerated by artificial intelligence(AI or machine intelligence). AI's role in the workplace is understood primarily through its computational capacity to measure the efficiency of a firm's operations. It follows that (1) the shareholder cannot be considered the owners of the firm; (2) AI enhances measurement efficiency, which in turn underpins the efficiency of separation; and (3) maximizing shareholder value cannot take precedence over maximizing the firm's total value (residual). Under the conditions of efficient separation and measurement, the residual becomes a matter of social value, leaving virtually no space for shareholders, particularly in the era of machine intelligence. |
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- Sangmoon Park (Kangwon National University)
- Jongseon Lee (Myongji University)
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[논문다운받기]
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| This study examines the effect of internal corporate venturing support on firms’ innovative performance and investigates the moderating roles of internal entrepreneurial experience, human resource slack, and entrepreneurial operating systems in this relationship. Using data from the Entrepreneurship Survey for Firms, we applied the propensity score matching to address potential endogeneity issues. The empirical results show that internal corporate venturing support does not have a significant effect on innovative performance across the overall sample. However, among firms with rich internal entrepreneurial experience and sufficient human resource slack, internal corporate venturing support positively influences innovative performance. Furthermore, firms equipped with entrepreneurial operating systems also exhibit a significant positive effect of internal corporate venturing support on innovation outcomes. These findings suggest that internal corporate venturing functions not merely as a vehicle for new business creation but as an effective mechanism to enhance innovation when combined with a firm’s inherent entrepreneurial mindset and organizational capabilities. |
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- Jongwan Bae (Kyungpook National Universit)
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[논문다운받기]
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| This study investigates the ambivalent performance implications of temporal ambidexterity among U.S. technology-based SMEs. Using a panel dataset of 2,413 firms from 1980 to 2019, we examine how temporal ambidexterity influences two distinct performance dimensions: market-based valuation and operational profitability. The results show that balanced switching and unbalanced adjusting strategies enhance firm valuation at the expense of profitability, suggesting an ambivalence between market expectations and operational efficiency. This dual perspective highlights how temporal ambidexterity simultaneously drives firm valuation while imposing short-term performance costs. |
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- Joo Hee Kang (Gachon Universit)
- Jung Min Han (Jeju National University)
- Yoon-Jung Lee (Korea University)
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[논문다운받기]
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| Small business owners play a vital role in national and local economic sustainability; however, they face substantial constraints in capital, labor, and information, making the implementation of ESG practices particularly challenging. While previous ESG research has predominantly focused on large and medium-sized firms, little attention has been paid to how small business owners perceive and adopt ESG in their everyday business operations. To address this gap, this study applies the Transtheoretical Model (TTM) of behavior change to examine the stages through which small business owners progress in their ESG adoption process. The findings reveal two distinct groups: those in the contemplation/preparation stage and those in the action/maintenance stage. Each group exhibited different barriers—such as financial and institutional constraints—and different facilitators, including voluntary efforts, the use of relational resources, and community-based activities. Based on these results, the study proposes stage-specific strategies for promoting ESG adoption and provides theoretical and policy implications for supporting the systematic integration of ESG practices among small business owners. |
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- Seung Hyeon Noh (Ministry of Science and ICT)
- Jaemin Park (Konkuk Universit)
- Kang Ho Bon (Software Policy and Research Institute)
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[논문다운받기]
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| This study examines the determinants of initial funding duration for technology-based startups through empirical analysis utilizing data from Korean laboratory-based startups. The findings reveal that founders’ prior founding experience is negatively associated with the probability of successful venture funding, while simultaneously reducing the initial funding duration. Extended startup preparation periods increase the likelihood of securing funding but paradoxically result in longer initial funding durations. Technology-based startups with dedicated research and development organizations require more time to secure initial funding compared to those without such specialized units. This study contributes theoretical insights to the technology-based startup and entrepreneurship literature, while also offering practical and policy implications that can inform technology startup management and policy development. |
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- Joon-Ho Shin (Ho-Seung Lee)
- Ho-Seung Lee (Ho-Seung Lee)
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[논문다운받기]
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| Extreme weather events have deepened vulnerabilities across societies, particularly within financial systems. In response, countries worldwide are advancing mandatory sustainability disclosures based on ESG frameworks. This study analyzes domestic and international policy and market environments to evaluate the ESG disclosure capabilities and climate adaptation capacity of small and medium-sized enterprises. It empirically examines the relationship between the level of sustainability disclosure and performance, estimates the potential reduction of human and asset losses through climate adaptation investments, and benchmarks practical insights from practitioners in business field. Based on these analyses, the study proposes a policy transition from a carbon-reduction focused approach centered on climate adaptation, thereby contributing to the establishment of a virtuous cycle of sustainable finance and enhancing financial stability. |
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- Sangmoon Park (Kangwon National University)
- Jongseon Lee (Myongji University)
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| This study examines the effect of internal corporate venturing support on firms’ innovative performance and investigates the moderating roles of internal entrepreneurial experience, human resource slack, and entrepreneurial operating systems in this relationship. Using data from the Entrepreneurship Survey for Firms, we applied the propensity score matching to address potential endogeneity issues. The empirical results show that internal corporate venturing support does not have a significant effect on innovative performance across the overall sample. However, among firms with rich internal entrepreneurial experience and sufficient human resource slack, internal corporate venturing support positively influences innovative performance. Furthermore, firms equipped with entrepreneurial operating systems also exhibit a significant positive effect of internal corporate venturing support on innovation outcomes. These findings suggest that internal corporate venturing functions not merely as a vehicle for new business creation but as an effective mechanism to enhance innovation when combined with a firm’s inherent entrepreneurial mindset and organizational capabilities. |
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