투자의사결정에서 사업화요소와 기술요소가 투자의도에 미치는 영향에 관한 연구 : 비즈니스모델평가의 매개효과 중심으로 = Effects of Commercialization and Technology Factors on Investment Intentions in Corporate Investment Decision-making : Focusing on the Mediating Effect of Business Model Evaluation

다국어 초록 (Multilingual Abstract)

This study analyzes the effects of commercialization factors and technology factors on investment intentions through business model evaluation in corporate investment decision-making. The commercialization factors were divided into industrial prospects, growth, and profitability, and the technology elements were divided into R&D capabilities, innovations, and technology levels. 211 questionnaires collected from CEOs, employees of investment-related departments, and startup founders of companies located in the metropolitan area were used for empirical analysis. SPSS v26.0 and PROCESS macro v4.2 were used to analyze the analysis based on a single-mediated model with a single mediator. As a result of the analysis, first, it was found that commercialization factors and technology factors, excluding industrial prospects, have a positive (+) effect on the business model evaluation. Of these, the effectt of technology level was found to be the largest and the profitability had the least effect. Second, the business model evaluation was found to have a significant effect on investment intention in the positive (+) direction. Third, commercialization factors and technology factors have been found to have a positive (+) effect on investment intention. Among them, the level of technology had the greatest effect and the prospect of the industry had the least effect. Fourth, it was found that the business model evaluation mediates between commercialization factors and technology factors and investment intentions, excluding industrial prospects. The results that the prospect of the industry had a significant direct effect on the investment intention, but the indirect effect of the business model evaluation were not significant, suggests that the growth potential of the industry is considered as a basic investment review factor, but the unique capabilities and competitiveness of the company are valued when evaluating the actual business model. In the comparison of the relative size of influence using standardization coefficients, the indirect effect of technology level was the largest in mediating business model evaluation. This suggests that investors consider technology maturity and competitiveness as the most important factors when evaluating business models. The academic implications of this study are that it empirically clarified the mechanism of the process of investment intention formation. It also provides new theoretical insights into the key success factors in attracting investment from technology-based companies. In practical terms, it is suggested that strengthening the level of technology and innovation is the top priority in order to attract investment. In addition, it suggests that a balanced consideration of technology and business feasibility is necessary when building a business model, and that the focus should be on strengthening the company's unique competitiveness rather than the growth potential of the overall industry.