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The effect of positive perception of the start-up environment on the performance of early start-up companies: focusing on the mediating effect of the non-financial performance

As the growth of early start-up companies plays a major role in the national economy, the start-up environment continues to improve. This study aims to establish a hypothesis based on existing theories and previous studies on the factors that influence the start-up environment on the performance of start-up companies in the early stage, and to give implications on the perception of the start-up environment through verification. As a result of the study, the start-up environment had a positive (+) effect on the financial and non-financial performance of early start-ups, respectively, and it was found that non-financial performance mediates the performance of early start-ups. However, start-up motivation did not show a significant moderating effect on the effect of start-up environment on non-financial performance. This study is meaningful in that it deals with the practical effects of the start-up environment, including the founder's actual perception, on the financial and non-financial performance of early start-ups.