스타트업이 인지하는 액셀러레이터의 투자결정요인이 스타트업 성과에 미치는 영향 : 한국과 미국 비교

다국어 초록 (Multilingual Abstract)

Accelerators play a crucial role in the rapidly growing global startup ecosystem, offering mentorship, education, networking programs, and early-stage investments to accelerate startup growth. This study investigates the influence of accelerator investment decision factors on startup performance, incorporating the mediating effects of social capital (network strength, trust) and the moderating effects of accelerator capabilities, with a comparative analysis between South Korea and the United States.
The study set accelerator investment decision factors (entrepreneurial competency, product/service competitiveness, market orientation, profit orientation) as independent variables, social capital (network strength, trust) as mediating variables, startup performance (financial performance, customer performance) as dependent variables, and accelerator capability as a moderating variable. To empirically analyze these relationships, surveys were conducted with startup CEOs in both South Korea and the United States.
Out of 18 hypotheses, 14 were commonly supported in both countries, while 4 were rejected based on different criteria.
Entrepreneurial competency positively influenced social capital (network strength, trust) in both South Korea and the United States. This suggests that founders can enhance business performance by aligning their understanding and perception of accelerator investment decision factors with increased network strength and trust.
Product/service competitiveness, market orientation, and profit orientation all showed a positive impact on startup performance (financial performance, customer performance) in both countries. This indicates that improving these aspects is crucial for startups to receive high evaluations from accelerators and to genuinely boost their performance.
In South Korea, accelerator capability moderated the relationship between market orientation and startup performance (financial performance, customer performance). This implies that higher accelerator capability strengthens the relationship between market orientation and both financial and customer performance.
In the United States, accelerator capability moderated the relationship between product/service competitiveness and startup performance (financial performance, customer performance). This suggests that greater accelerator capability strengthens the relationship between product/service competitiveness and both financial and customer performance.
A multi-group analysis(MGA) revealed significant differences between South Korea and the United States regarding the impact of entrepreneurial competency on network strength and trust. Furthermore, statistically significant differences were found in the mean values of entrepreneurial competency, market orientation, profit orientation, network strength, and trust between the two countries. Specifically, entrepreneurial competency, market orientation, and trust were rated higher in the United States than in South Korea, while profit orientation and network strength were rated higher in South Korea. These differences can be attributed to cultural backgrounds and market sizes.
This research provides theoretical foundations for understanding accelerator investment decision factors from the perspective of startups. It underscores the importance of social capital for accelerators and offers strategic insights for startups and related organizations aiming to secure investment and enhance growth. Given that accelerators originated in the United States and South Korea is actively promoting startup support through institutional registration, comparative empirical studies between the two countries on accelerator investment decision factors and startup performance are particularly significant.

목차 (Table of Contents)

• 제 1 장 서 론 1
• 제 1 절 연구의 배경 및 목적 1
• 제 2 절 연구의 방법 및 구성 4
• 제 2 장 이론적 배경 및 선행연구 6
• 제 1 절 액셀러레이터 6
• 제 2 절 스타트업 20
• 제 3 절 액셀러레이터의 투자결정요인 25
• 제 4 절 사회적 자본 48
• 제 5 절 스타트업 성과 55
• 제 6 절 액셀러레이터 역량 61
• 제 3 장 연구방법 65
• 제 1 절 연구모형 도출 근거 65
• 제 2 절 연구모형 68
• 제 3 절 연구가설 69
• 제 4 절 조사 설계 78
• 제 5 절 변수의 조작적 정의 및 측정 80
• 제 4 장 실증분석 89
• 제 1 절 인구통계 분석 89
• 제 2 절 기술통계 및 자료의 정규성 검증 93
• 제 3 절 측정항목의 평가 98
• 제 4 절 연구가설의 검증 107
• 제 5 장 결 론 137
• 제 1 절 연구의 결과 및 시사점 137
• 제 2 절 연구의 한계점 및 추후연구방향 144
• 참 고 문 헌 146
• Abstracts 191