The Moderating Effect of University Venture Investment Capabilities on Entrepreneurial University Performance : Focusing on University Student Entrepreneurship Education and Performance

This study investigates the impact of university venture investment capabilities on the performance of entrepreneurial universities, specifically examining the moderating effect of these capabilities on the number of university student entrepreneurs, which is considered a key outcome of entrepreneurial universities. To explore this, the study examines the impact of student entrepreneurship education activities(independent variable) on the number of student entrepreneurs(dependent variable) and investigates the moderating effect of university venture investment capability(moderating variable) across 324 universities nationwide. The results indicate that all detailed variables of university student entrepreneurship education activities significantly affect the number of student entrepreneurs. Specifically, the number of entrepreneurship major courses, entrepreneurship general education courses, entrepreneurship clubs, and entrepreneurship competitions all have a positive relationship with the number of student entrepreneurs. The moderating effect of university venture investment capabilities was statistically significant only in the curricular activities of entrepreneurship major and general education courses, while it was not significant in the extracurricular activities such as entrepreneurship clubs and competitions. The implication of this study is that university venture investment capabilities have a strengthening moderating effect on the outcomes of entrepreneurial universities. Therefore, universities should extend their role beyond traditional education and research to include practical and economic activities as entrepreneurial entities, emphasizing the importance of enhancing university venture investment capability, including the role of University Venture Capital(UVC). Specifically, universities should strengthen their venture investment capabilities by securing and recruiting excellent human resources inside and outside the university, and boldly investing financially in technology holding companies. By focusing on building innovative and professional venture investment capabilities through technology holding companies, universities can vitalize university-led entrepreneurship and strive to grow into entrepreneurial universities that align with global standards.