• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.1 no.1
• /
• pp.1-21
• /
• 2006

The ultimate goal of this paper falls on assessing the magnitude of co- evolutionary pattern existing between the genuine growth of KOSDAQ and KOSDAQ-Listed Companies. This paper define the concept of "genuine growth" as including quantitative and qualitative growth of each entities. This paper take genuine growth indexes of KOSDAQ as liquidity, fairness, volatility, transparency, while that of KOSDAQ-Listed Companies as quantitative financial indexes and qualitative financial indexes. This paper brings three research implications as conclusions. First, growth engine of KOSDAQ resulting in its' qualitative growth besides quantitative one is founded on number of KOSDAQ-Listed companies showing outstanding financial performance qualitatively, Second, increasing permanent profit portion of KOSDAQ-Listed Companies have induced a long-term assessed investment rather than short insight speculation in the year of 2005. In addition, source of lowering market volatility and stabilizing market is strongly correlated with the excellency of profit quality among KOSDAQ-Listed Companies. Third, a high adaptability of KOSDAQ-Listed companies meeting with market sustaining requirements enable KOSDAQ to enhance market efficiency.