Legitimate Social Purpose and South Korea’s Support for Entrepreneurial Finance Since the Asian Financial Crisis

Klingler-Vidra, Robyn; Pardo, Ramon Pacheco

doi:10.1080/13563467.2018.1563058

Cited by 14 publications

(3 citation statements)

References 31 publications

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“…As discussed earlier, the failure ratio of newly born ventures is very high worldwide (Antretter et al, 2019;Anwar & Ali Shah, 2020). In response to this, many countries have initiated special financial schemes to facilitate new ventures (Anwar, Tajeddini, et al, 2020;Klingler-Vidra & Pacheco Pardo, 2020;Zhang et al, 2017). The alternative goal of this support is to achieve sustainable development and economic growth (Khattak, 2020).…”

Section: Firms Observe Their Financial Conditions While Investing In Csrmentioning

confidence: 99%

The Role of Entrepreneurial Finance in Corporate Social Responsibility and New Venture Performance in an Emerging Market

Khattak

Anwar

Clauß

2021

The Journal of Entrepreneurship

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Corporate social responsibility (CSR) has over the past decades transformed from a philanthropic attribute to something compulsory. It has become the imperative duty of organisations, irrespective of their size, nature of business and age. However, because of poor financial capabilities and lack of support, newly established ventures too often fail to voluntarily participate in social and environmental activities. This is one reason why national governments have initiated various programs and policies to encourage CSR and environmental activities in new ventures. However, previous studies have yet to fully reveal the effects of entrepreneurial finance on CSR and the environmental, financial and innovative performance of newly established ventures. To fill this gap, we used a survey to gather empirical evidence from 255 newly established ventures. The results indicate that entrepreneurial finance directly contributes to financial performance, while indirectly contributing to environmental and innovative performance through CSR. Our research recommends that new ventures efficiently utilise entrepreneurial finance to configure CSR activities that achieve high profitability, and environmental and innovative performance. Moreover, our research encourages governments to make financial loans to ventures engaged in social and environmental activities to help them reach their sustainable development goals.

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Section: Firms Observe Their Financial Conditions While Investing In Csrmentioning

confidence: 99%

The Role of Entrepreneurial Finance in Corporate Social Responsibility and New Venture Performance in an Emerging Market

Khattak

Anwar

Clauß

2021

The Journal of Entrepreneurship

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“…Haggard (2018) and Wade (2018) also argued that it is premature to say the Korean developmental state is dead. Klingler-Vidra and Pacheco-Pardo (2019, 2020) show that the Korean state is still an archetypal developmental state that monitors and coordinates private sector activities and even fosters collaboration among Government-SMEs-Chaebols to realize policy goals. Above all, as some studies show, the Moon government's strategic intervention and public–private partnerships were critical for Korea's success in the timely and sufficient production and export of test kits in 2020 (Kumar, 2021; Park and Chung, 2020).…”

Section: Analytical Frameworkmentioning

confidence: 99%

Taking the developmental state seriously: Why South Korea outperformed neoliberal regulatory states in rapid coronavirus disease 2019 vaccinations and saving lives

Kumar

2023

International Area Studies Review

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Coronavirus disease 2019 claimed more than three million lives worldwide in 2020, giving national governments the most urgent task for 2021 to achieve high vaccination rates to save lives. The World Health Organization declared that “vaccines are the most critical tool to end the pandemic and save lives.” In this context, South Korea (hereafter, Korea) achieved a remarkable milestone by outperforming the United Kingdom and the United States in vaccinations rate, where the world's earliest vaccination programs started. Thanks to its high vaccination rate, Korea recorded less than 100 deaths per million populations in 2021 compared to more than 1000 in the United Kingdom and the United States. Why Korea leaped ahead of the United Kingdom and the United States in rapid vaccinations that saved many lives? To answer this question, I first conceptualize contemporary Korea as a developmental state which retained its institutional capacity despite its transition from authoritarianism to liberal democracy, distinguishing it from the UK and the US's neoliberal regulatory states, where reforms hallowed out state capacity. I then advance two core claims. First, Korea surpassed the United Kingdom and the United States in vaccine rollout because of its developmental state-type goal-oriented autonomous policymaking and strong institutional capacity, manifested as Korea's central agency deployed a command and control vaccination program led by a coherent health bureaucracy. Second, the Korean state's strategic intervention in the market and its capacity to foster public–private partnerships to realize national goals boosted its vaccinations. Finally, the paper suggests how neoliberal regulatory states in the global north can learn lessons from the Korean experience in rebuilding state capacity to deal with the future global pandemic.

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“…The state is conceived as either directly engaging large firms, as in classic consortium (Anchordoguy, 2005), or fostering startup-centric entrepreneurial ecosystems (Mazzucato, 2013). Yet, initial studies have suggested that one of the social purposes of startup policy includes boosting the innovation capacity of incumbent firms, rather than the destructive capacity of startups (Klingler-Vidra & Pacheco Pardo, 2020). This emerging line of research argues that the 21 st century version of the developmental state can be depicted by the rise of an 'entrepreneurial developmental state', which is a state that is active in coordinating and directing resources through engagement of incumbent firms in entrepreneurial ecosystems (Maggor, 2020;Pacheco Pardo & Klingler-Vidra, 2019).…”

Section: Introductionmentioning

confidence: 99%

Bridging developmental state and entrepreneurial state theory: A typology of startup policies’ incumbent firm benefits

Klingler-Vidra

Pardo

2022

Journal of Asian Public Policy

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Legitimate Social Purpose and South Korea’s Support for Entrepreneurial Finance Since the Asian Financial Crisis

Cited by 14 publications

References 31 publications

The Role of Entrepreneurial Finance in Corporate Social Responsibility and New Venture Performance in an Emerging Market

The Role of Entrepreneurial Finance in Corporate Social Responsibility and New Venture Performance in an Emerging Market

Taking the developmental state seriously: Why South Korea outperformed neoliberal regulatory states in rapid coronavirus disease 2019 vaccinations and saving lives

Bridging developmental state and entrepreneurial state theory: A typology of startup policies’ incumbent firm benefits

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