창업기업의 성과에 미치는 영향요인 분석 :매출액과 종업원수 증가요인을 중심으로 (Factors Affecting the Growth of Corporate Start-ups Focused on Sales Performance and Job Creation)

서지정보

· 발행기관 : 한국중소기업학회
· 수록지 정보 : 중소기업연구 / 32권 / 3호 / 109 ~ 128페이지
· 저자명 : 박종복, 김종호, 양현봉

초록

우리경제가 경제위기에서 벗어나 회복기에 접어들면서 새로운 고용과 부가가치의 지속적인 창출이 긴요한 시점에서, 본 연구는 창업을 통해 고용을 창출하고, 기업의 매출액이 늘어나는 현상에 영향을 미치는 요인을 규명함으로써 창업의 경제성장 기여 효과를 배가하기 위한 정책적 시사점을 도출함을 목적으로 하고 있다. 이를 위해 이론적 배경의 검토를 토대로 창업 후 3년 간 창업기업의 매출액 성장과 종업원수 증가에 영향을 미치는 기본변수와 창업과정상의 단계별 영향요인을 나타내는 확대변수를 도출하고, 다중회귀분석을 통하여 영향관계를 살펴보았다. 그 결과를 요약하면 매출액 성장률의 영향요인으로는 ‘수도권에서의 입지’, ‘사회공헌(사회적 동기)’, ‘외부금융 활용 가능성’, ‘제품 및 서비스의 가격(경쟁우위)’ 등이 보다 중요한 것으로 나타났다. 종업원수 증가율의 경우에는 ‘창업자의 성별(남성)’, ‘성공 기업가처럼 닮고 싶은 욕구’, ‘시장 규모 및 성장성’, ‘학력’, ‘기업에서의 근무 경험’, ‘제품 및 서비스의 수명주기’ 등이 중요한 것으로 나타났다. 따라서 창업기업의 매출액 증대 효과를 배가하기 위해서는 그간 지방에서의 창업을 활성화하기 위한 정책적 지원이 어느 정도 이루어져 왔으므로 향후에는 수도권에서도 창업이 촉진될 수 있도록 하는 규제완화 방안을 강구하고, 창업을 통해 사회에 공헌하고자 하는 기업가정신을 고취시키며, 창업자금의 공급 확대 및 활용도를 제고시킬 뿐 아니라 혁신을 통한 차별화 전략을 구사하는 창업기업에 판로지원을 보다 강화할 필요가 있다. 창업을 통해 고용창출의 효과를 제고하기 위해서는 여성의 창업을 성장성이 비교적 높은 기회형 창업으로 유도하고, 성공한 기업가를 인생모델로 삼을 수 있는 분위기를 조성시키며, 시장규모가 크고 성장성이 높은 유망산업 분야로의 창업을 유도하고, 우수인력 채용지원시 배태조직 창업기업에 비해 사업위험이 상대적으로 높은 개인 창업기업의 비중을 보다 높이며, 기술집약형 신기술 창업을 활성화시킬 필요가 있다.

영어초록

As the Korean economy gets better from the financial crisis of 2008~2009, creating new jobs and value added in Korea has gained more attention. It is well known that entrepreneurship has positive influences on economic growth through job creation and increases in GDP per capita (Audretsch and Thurik, 2001). It is noted that existing studies on entrepreneurial activities are likely to focus on factors affecting entrepreneurial intention or they may consider start-ups older than 5 years. Most studies that address entrepreneurial intention take affecting factors into consideration such as the demographic characteristics of nascent entrepreneurs and the environment surrounding entrepreneurial activities (Mazzarol et al., 1999; Storey, 1994; Evans and Leighton, 1990; Dolton and Makepeace, 1990). The majority of existing literature on early stage start-ups explore the determinants of managerial performance or theoretical growth models for the start-ups (Kazanjian, 1988; Gartner, 1985; Bantel, 1998; Glancey, 1998). Unlike previous literature, this paper investigates the factors affecting the early growth of corporate start-ups in terms of sales and number of employees from the business creation to 3 years later.
Following the introduction, the 2nd chapter examines the growth stages of corporate start-ups and sets up a research model based on the existing literature. The 3rd chapter provides primary and secondary variables with operational definition or measurement, and explains the research method including data collection and sampling. The 4th chapter provides the descriptive statistics of variables and analyzes the estimation results. Lastly, the 5th chapter summarizes this study and suggests policy implications for elevating the effect of entrepreneurial activities.
Based on the existing literature, research variables are selected. Dependent variable of growth rate is calculated by using firm size that is based on either number of employees or sales. Independent variables include basic independent variables including size, location, and industry, extended variables based on the entrepreneurial process, and control variables such as year of establishment and entrepreneur's gender. Research models are estimated by using multiple regression. With respect to independent variables, both basic independent variables and control variables are commonly employed in the econometric models (Evans, 1987a; Evans, 1987b; Glancey, 1998), while extended variables are selectively employed according to the entrepreneurial process consisting of the inception stage, start-up stage, and early development stage (Kantis et al., 2002). Yi=β1X1i+…+β1Xli+βl+1Cl+1i+…+βmCmi+βm+1Zm+1i+…+βnZn+ui where Yi : growth rate of corporate start - ups,Xi : basic independent variables, Ci : control variables,Zi : extended variables, β : regression coefficients, ui : error terms



Since growth rate during the first 3 business years is affected by macro-economic conditions, this research takes year of establishment into consideration as one of the control variables. It is noted that all the variables are measured at the year of establishment. At the inception stage, 5 extended variables are employed under the 3 categories of personal motivation, economic motivation, and social motivation. At the start-up stage, 8 variables are used under the 2 categories of external economic conditions and internal capacities for mobilizing resources. At the early development stage, 3 variables are utilized under the 2 categories of market entry and external financing.
Although 313 corporate start-ups responded to the survey, two sub-samples were employed for the regressions due to the restrictions of data availability. One sample of size 127 (hereinafter, A-type sample) was used for the estimation of growth model based on sales, while the other sample of size 252 (hereinafter, B-type sample) was utilized for the estimation of growth model based on number of employees. It is noted that the two sub-samples are not different from each other according to the results of independence tests, or χ2 tests.
The estimation results of the econometric models by multivariate ordinary least squares are summarized as follows: With respect to estimation result of growth model based on sales, it is found that location, non-economic motivation, access to external financing, and price as a competitive strategy for entering the market significantly affect the sales growth of the firms of the A-type sample (refer to Table 6).
Locating the firms in the metropolitan area affects their sales growth in a positive direction within the significance levels of 5%. This finding is in accordances with that of Glancey (1998). Moreover, the finding may support the incubator hypothesis that the central business district of the region is the logical site for a large number of the region's new firms, owing in part to the external economies to be found there (Hoover and Vernon, 1959). At the inception stage, non-economic motivation affects the sales growth of the firms rather than economic motivation within the significance levels of 10%. At the start-up stage, access to external financing affects the sales growth of the firms in a positive direction at the significance level of 1%. This finding is well agreed in that financing from external sources is one of the most demanded necessities. At the early development stage, price as a competitive strategy for entering the market affects the sales growth of the firms in a positive direction at the significance level of 10%. This finding comes from the fact that firms usually employ a penetration pricing strategy in order to increase their market share rapidly.
When it comes to the estimation result of growth model based on number of employees, it is also found that the gender of entrepreneur, economic motivation, size and growth potential of the targeted market, education, work experience and business life cycle of product or service significantly affect the employee growth of the firms of the B-type sample (refer to Table 7).
Having a male entrepreneur affects the employee growth of the firms in a positive direction within the significance levels of 5%. This finding may come from the trend that female entrepreneurs are more likely to pursue a low-risk, low-return style in managing at early stages and thus show a low growth rate in hiring new employees. At the inception stage, economic motivation affects the employee growth of the firms in a positive direction at the significance level of 5%. It is inferred that entrepreneurs with economic motivation may hire more talents during the early stages.
At the start-up stage, the size and growth potential of the targeted market affect the employee growth of the firms in a positive direction at the significance level of 10%. In addition, the entrepreneur's education affects the employee growth of the firms in a positive direction at the significance level of 5%. These findings are considered to be obvious. However, work experience in enterprises affects the employee growth of the firms in a negative direction at the significance level of 5%. It is inferred that the firm sizes of incubator organization start-ups may be larger than those of independent ones, and thus may show relatively lower employee growth rates for the part of incubator organization start-ups.
At the early development stage, the business life cycle of the product or service affects the employee growth of the firms in a negative direction at the significance level of 5%. This finding comes from the fact that the corporate start-ups may not expand the size of business as the life cycle evolves to maturity or the declining stages.
As a result, this study suggests policy implications for magnifying the effect of entrepreneurial activities. Most of all, in order to increase sales growth, the Korean government needs to mitigate related regulations so that business creation can be facilitated in the metropolitan area, while fostering the entrepreneurship so that more people become entrepreneurs in order to contribute to society. In addition, external financing for launching needs to be amply provided to, and easily accessed by an entrepreneur. Lastly, corporate start-ups employing strategies of innovative differentiation should be provided with more marketing promotions.
For the faster creation of jobs within firms, the government needs to redirect business startups by female entrepreneurs into an opportunity-motivated business creation, while consolidating a social atmosphere to respect successful entrepreneurs as a role model. Moreover, the government needs to guide entrepreneurs to identify business opportunities which have larger market and growth potential. Also, the Korean government needs to subsidize independent start-ups the cost of hiring employees rather than incubator organization ones, because independent start-ups may not be proactive in recruiting new talents due to relatively higher business risks. Lastly, it is necessary to facilitate the creation of high-tech based start-ups that produce a product or service at earlier stages of business life cycle.
It is noted that most of the significant affecting factors don't affect the other dependent variable. For example, an independent variable that significantly affects the sales growth of surveyed firms, doesn't affect the employee growth directly. Therefore, policy makers need to pay attention when preparing related policy or programs to support corporate start-ups, so that government's efforts can lead to both job creation and an increase in sales of corporate start-ups.

참고자료

· 없음