- P-ISSN2287-1608
- E-ISSN2287-1616
- KCI
ISSN : 2287-1608
Vol.11 No.3
Abstract
This study examines the implications on the valuations of privately held firms when stakes are acquired by venture capitalists in India. In addition, the effect of fund size and revenue multiple is considered as a determinant of firm value. The study is based on a sample of 1229 rounds of funding during the period 2007-2015. The data was obtained from Venture Intelligence. Three major observations emerged based on an OLS regression. Firstly, it is observed that the stake acquired by venture capitalists has a negative effect on firm value. It supports the belief that when a firm reaches its maximum valuation from the promoter's perspective, there is a tendency to liquidate additional stakes. Secondly, a positive association between the revenue multiple and valuation is recognized. Thirdly, the convex relationship (U-shaped) between the fund size and firm valuations as seen in the case of developed economies, appears to be non-existent in India.
Abstract
By analyzing the adaptive capacity, market formation and policy direction as functional areas of Technological Innovation System (TIS), the article evaluates the progress of renewable energy transition in the Maldives, with the inclusion of ideas from Mauritius and Cabo Verde. On the policy direction in the Maldives, technology roadmaps produced with assistance from International Renewable Energy Agency (IRENA) and Asian Development Bank (ADB) are evaluated. Although there are inducing factors such as the Solar Risk Management Initiative, the progress of energy transition is hindered by the lack of technical capacity and local value chain. The findings indicate the importance of facilitating and establishing industry and knowledge networks, incorporating innovation policies, greater involvement of the local private sector along with international investors, and taking water-energy nexus to achieve complementary targets. The study adds value to knowledge by offering a simplified TIS framework, with a current insight of the energy transition in Small Island Developing States with a focus on the Maldives
Abstract
Empirical applications to explain criminogenic events are abundant. While much of the research in criminal studies concentrates on understanding the motivations of offenders and preventing victimization from a micro perspective, there have been recent theoretical advancements that give priority to the role of spatial factors in directly impacting crime rates. The primary purpose of this study is to investigate the empirical inference between violent crime incidence and spatial characteristics of local areas focusing particularly on spatial accessibility conditions in the areas. Applying discrete spatial econometrics models, this study reveals a significant relationship between spatial accessibility and the formation of violent crime hot spots in South Korea. Along with other variables, it is revealed that road accessibility has a clear association with violent crime hot spots. Based on the findings, this study suggests some policy implications such as effective surveillance systems, land use restrictions, and advanced street lighting.
Abstract
The national R&D project is a major strategy for the development of science and technology in the country. This is promoted for the purpose of improving the welfare of the people, such as creating jobs and fostering small and medium-sized enterprises, through the results of science and technology research conducted with support from the national budget. Therefore, analysis of the performance evaluation and budgeting system of the current national R&D project is one of the essential parts of preparing a system improvement plan. This study derived improvement plans through a comparative analysis of national R&D project performance evaluation and budget systems in Korea and leading countries such as the United States and Japan. As a result, it was confirmed that it may be difficult to derive innovative research results due to the lack of sustainability and a short period of time to require quantitative performance. To overcome these difficulties, the need for system improvement as follows was suggested. First, it is necessary to enlarge and prolong national R&D projects. Second, a plan for securing sustainability is needed in consideration of the main characteristics of each research field. Finally, it is necessary to strengthen the linkage between organizations in charge of national R&D projects. And also, there is a need for a system that can continuously identify problems and improve the system. In addition, the constitutional amendment will be necessary to separate science and technology from economic development, which states that Article 127, Paragraph 1, “Science and technology should be subordinated to economic development,” which is the science and technology article of the current constitution.
Abstract
This study focuses on the happiness of the generation MZ of innovative enterprises, which are evaluated as the driving force of economic growth at a time when the value of happiness is emerging. Happiness is related to the prosperity and performance of the organization. However, MZ generation office workers, who account for 45% of the economically active population, are considered unhappy at work. Therefore, this study attempted to explore the preceding factors (organizational factors, relationship and communication factors, and personal factors) of happiness for the generation MZ of innovative enterprises and to examine the effect of happiness on employee engagement. For the study, 300 usable responses were collected from generation MZ working in innovative enterprises through an online survey. Research hypotheses and research questions were verified using SPSS 26.0 and AMOS 23.0. As a result, it was confirmed that procedural justice among the organizational factors, rewarding co-worker/supervisor relationship among the relationship/communication factors, and personal factors (meaningfulness of work, personal accomplishment) positively affected the MZ generation's workplace happiness. In particular, the meaningfulness of work, which corresponds to personal factors, exerted the most significant influence. In addition, in the case of happiness at the workplace, there was a positive effect on employee engagement, which was stronger in organizational engagement than in job engagement. As a result of examining the structural relationship between variables used in the study, it was found that procedural justice, rewarding co-worker/supervisor relationships, the meaningfulness of work, and personal accomplishment positively affected employee engagement through happiness. Through research, the importance of happiness at the workplace was suggested by systematically reviewing the preceding variables of happiness at the workplace and grasping the positive effects of happiness. In addition, the management measure of generation MZ employees of innovative enterprises was discussed, the necessity of research on happiness at the workplace was emphasized, and follow-up studies were proposed.
Abstract
This research was conducted by applying a bibliometric analysis to determine the dynamics of research topics from ten percent of research output (international publications) generated by Indonesian scientists from the period of 1945-2021. This study utilizes VOSviewers version 1.6.18 for analysis and visualization of bibliometric networks. The research results indicate that 50.24% of Indonesian international publications are published in the form of articles, with subjects such as: Agricultural and Biological Sciences, Medicine, and Earth and Planetary Sciences as the most dominating subject areas. Regarding the author, Tjia, MO from Bandung Institute of Technology was acknowledged as the top author in terms of the number of publications produced for two periods. The article entitled "Global, regional, and national prevalence of overweight and obesity in children and adults during 1980-2013: A systematic analysis for the Global Burden of Disease Study 2013" (Ng et al., 2014) became the most cited one.