• Asian Journal of Innovation and Policy
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• v.7 no.1
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• pp.150-177
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• 2018

We review two specific risk management strategies of venture capitalists (VCs): deal syndication and domain specialization with respect to their explicit role in adjudging and managing the overall magnitude of information asymmetry risks. These are analyzed for three distinct categories of VC firms as classified by their funding stage focus (early vs. late), ownership type (foreign vs. domestic) and the human capital composition of the core VC team (entrepreneurial vs. investor). The analysis is based on both secondary data and primary data for active 72 VC firms in India. Syndication is moderately important for entrepreneurial VC firms, but not at all important for early-stage focused and foreign VC firms. This finding is distinctly different from what has been conventionally observed in the literature. Among the various arenas of domain specialization, high-technology focus is important for all segments of VC firms. In the context of investment-stage focus, foreign VC firms exhibit growth-stage specialization, while entrepreneurial VC firms concentrate on earlier investment stages.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.10 no.4
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• pp.39-47
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• 2015

"Series A Crunch"problem has become worse off as funding gap between angel seed investment and traditional VC Series A investment is getting the larger due to big boom over early startup investment both in Korea and US. The strong needs for new concept of fund alternative such as bridge fund is outstanding to fill up the funding gap in the early stage of venture investment. This research is brought to define the concept of 'Series A Crunch' problem and to diagnose its causes, eventually, popping up 'the concept of Micro VC Fund' to come up with this problem in Korea. Also, this paper suggests the policy alternatives to introduce Mivro VC Fund and accommodate its successful performance.

• 한국벤처창업학회:학술대회논문집
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• 2017.04a
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• pp.49-49
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• 2017

This paper provides theory and evidence on how venture capital's (VC's) investment influence on new venture (NV) performance. Despite the wealth of research on the relationship between VC's investment and NV's performance, there are conflicts about whether the VC's investment can contribute to the performance of NV and NV's market value or not. For the accurate measure of the investment effect from VC, this research explored how the venture capital's investment in each development stage affects the NV's performance. The research was based on signaling theory and the theory of information asymmetry and looked for which factors affect a NV's performance. Using a sample of 364 firms went to public from 2000 to 2007, we find NV performance increases as NV acquires initial investment of VC in the early stage of development. While NV's potential absorptive capacity moderates the main relationship positively, we find no indication that NV's realized abortive capacity and NV's reputation have significant effect on the main relationship as moderators.

• Tuberculosis and Respiratory Diseases
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• v.40 no.5
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• pp.540-547
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• 1993

Backgrounds: The measurement of volume of isoflow has been considered as a sensitive test for detecting small airway diseases showing normal pulmonary function in a routine pulmonary function test. To evaluate the functions of small airway among dust exposed workers, the changes of volume of isoflow were measured and its applicability of managing early stage pneumoconiosis patients was studied. Method: The subjects were 67 male, pneumoconiosis with small opacity and FEV1>80%, FEV1/FVC>75% in spirometry and the controls were 20 male, no dust-exposed office workers. The maximal epiratory volume curves after inhalation of indoor air and $He-O_2$ gas mixtures were measured and ${\Delta}V_{max50},\;{\Delta}V_{max75},\;V_{iso}V/VC$ between the dust exposed and control workers were compaired. Results: 1) There were no significant differences between two group in ${\Delta}V_{max50}$ and ${\Delta}V_{max75}$. But the ratio of $V_{iso}V/VC$ of the subjects was siginificantly higher than that of the control (p<0.01). This study confirms that $V_{iso}V/VC$ is a very useful index in early detection of small airway dysfunction. 2) The ratio of $V_{iso}V/VC$ of the subjects was signigicantly different between only smoker group and mixed group(smoker and nonsmoker). It suggestes that smoking is an important cousative factor of small airway dysfunction. 3) As the profusion of the chest X-ray increased, the rartio of $V_{iso}V/VC$ increased, but no significant difference of $V_{iso}V/VC$ was found between categories of pneumoconiosis. The categories of pneumoconiosis and small airway dysfunction may not be related. 4) No significant relationship was established between the duration of work and the ratio of $V_{iso}V/VC$. Conclusions : It is concluded that the measurement of $V_{iso}V/VC$ is useful to detect small airway dysfuction of early stage pnuemoconiosis patents with small opacities but showing normal pulmonary function in a routine pulmonary function test.

• Asia-Pacific Journal of Business
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• v.15 no.1
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• pp.179-192
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• 2024

Purpose - The purpose of this study is to examine the effect of entrepreneurial experience, business model innovation and financing on new venture performance. Design/methodology/approach - This study analyzes survey data on new ventures in Korea and investigated research hypothesis by multiple regression analysis. Findings - Founders' prior startup experience have different impacts on performance depending on whether they had a successful or failed startup. Successful experience has a positive impact on early performance, while failure experience has a negative impact. Business model innovation shows a positive and significant relationship with early performance. External financing has different effects depending on the type of funding source and performance variables. VC funding is positively related to employment creation, while government R&D funding is negatively related to sales volume. Research implications or Originality - This study confirms that the impact of entrepreneurial experience on early performance varies depending on the characteristics of successful and unsuccessful entrepreneurs. It also empirically confirms that business model innovation has a significant impact on early performance. We empirically examine the relationship between various external financing sources of venture firms and early performance. Since the effects of entrepreneurial experience, business model innovation, and external financing on early stage performance may be different, entrepreneurs should consider these relationships when pursuing early stage business opportunities.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.4
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• pp.21-35
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• 2023

Expectations surrounding generative AI technology and its profound ramifications are sweeping across various industrial domains. Given the anticipated pivotal role of the startup ecosystem in the utilization and advancement of generative AI technology, it is imperative to cultivate a deeper comprehension of the present state and distinctive attributes characterizing venture capital (VC) investments within this domain. The current investigation delves into South Korea's landscape of VC investment deals and prognosticates the projected VC investments by juxtaposing these against the United States, the frontrunner in the generative AI industry and its associated ecosystem. For analytical purposes, a compilation of 286 investment deals originating from 117 U.S. generative AI startups spanning the period from 2008 to 2023, as well as 144 investment deals from 42 South Korean generative AI startups covering the years 2011 to 2023, was amassed to construct new datasets. The outcomes of this endeavor reveal an upward trajectory in the count of VC investment deals within both the U.S. and South Korea during recent years. Predominantly, these deals have been concentrated within the early-stage investment realm. Noteworthy disparities between the two nations have also come to light. Specifically, in the U.S., in contrast to South Korea, the quantum of recent VC deals has escalated, marking an augmentation ranging from 285% to 488% in the corresponding developmental stage. While the interval between disparate investment stages demonstrated a slight elongation in South Korea relative to the U.S., this discrepancy did not achieve statistical significance. Furthermore, the proportion of VC investments channeled into generative AI enterprises, relative to the aggregate number of deals, exhibited a higher quotient in South Korea compared to the U.S. Upon a comprehensive sectoral breakdown of generative AI, it was discerned that within the U.S., 59.2% of total deals were concentrated in the text and model sectors, whereas in South Korea, 61.9% of deals centered around the video, image, and chat sectors. Through forecasting, the anticipated VC investments in South Korea from 2023 to 2029 were derived via four distinct models, culminating in an estimated average requirement of 3.4 trillion Korean won (ranging from at least 2.408 trillion won to a maximum of 5.919 trillion won). This research bears pragmatic significance as it methodically dissects VC investments within the generative AI domain across both the U.S. and South Korea, culminating in the presentation of an estimated VC investment projection for the latter. Furthermore, its academic significance lies in laying the groundwork for prospective scholarly inquiries by dissecting the current landscape of generative AI VC investments, a sphere that has hitherto remained void of rigorous academic investigation supported by empirical data. Additionally, the study introduces two innovative methodologies for the prediction of VC investment sums. Upon broader integration, application, and refinement of these methodologies within diverse academic explorations, they stand poised to enhance the prognosticative capacity pertaining to VC investment costs.

• English Language & Literature Teaching
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• no.1
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• pp.21-42
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• 1995

The purpose of this study is to point out that the segment-based study on child phonological acquisition is not sufficient in accounting for the ever-changing dynamic development of child phonology and to attempt to explain child phonology in terms of syllable-based theory of phonology, one of various types of non -linear phonology which have been studied since the late 1970's. According to Gruber's observation. it is obvious that children perceive their own concept of syllable even at the early stage of babbling. In addition, the statistical data show that the CV-type syllable is most frequently used in child phonology. These evidences seem to suffice to conclude that the CV-type syllable is the most unmarked of all four core syllable types in the sense of Clements & Keyser(1983). Starting with this observation, it is further argued that in child phonology the markedness of syllable types increases in the order of CV, CVC, VC and V.

• Asian Journal of Innovation and Policy
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• v.3 no.2
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• pp.216-244
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• 2014

This paper empirically establishes the role played by the ecosystem related parameters in the emergence and growth of high technology start-up clusters in India. It is mainly based on secondary data from six major start-up hubs in India during the period 2005-2013. Our results throw up several interesting findings. First of all, we find that traditional infrastructure related factors or robust macroeconomic situation in general are not the most important drivers. What really seem to matter are the specific start-up ecosystem related factors - such as the Internet penetration, volume of deal flow, availability of VC funding and a pre-existing critical mass of relevant high technology businesses and skill-sets. Above all, our study points out that high economic growth alone will not automatically lead to spillovers in the form of a vibrant start-up ecosystem. Rather it has to be a product of conscious and concerted policy efforts at all levels that directly address the main challenges faced by the early-stage start-ups.

• Journal of the Korea Computer Industry Society
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• v.7 no.4
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• pp.447-454
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• 2006

Imbecility, Parkinson's disease, the brain disease occurrence rate such as motor nerve disease are increasing rapidly since 1980 years, according to the Britain, the United States of America, Japan, Germany, result that investigate the spanish occurrence rate, was expose that imbecility mortality including Alzheimer's disease increased more than man case 3 triple and man and woman of brain disease mortality increases by about 50% with Parkinson's disease and motor nerve disease. <중략> first of all, courtesy call is important. So that can find out danger benevolence and occurrence danger at early stage, person arranged brain vein because examination does special Quality examination and modelling Tuesday embodying possible Cerebrovascular Ultrasonogram (brain vein supersonic waves) and prove excellency of performance from time to time. Is going to apply to brain disease patient of other disease if supplement system hereafter, and this research tried to study special quality that standardization is not producing poetic theme width directly and approach.

• Journal of Nutrition and Health
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• v.42 no.8
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• pp.673-681
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• 2009

Diabetes mellitus is a multifactorial disease. Particularly, diabetic nephropathy is a serious complication for diabetic patients, yet the precise mechanisms that underline the initial stage of diabetic renal inflammation remain unknown. However, oxidative stress induced by hyperglycemia in diabetes is implicated in diabetic renal disease. We hypothesized that dietary supplementation of antioxidants either VCE (0.5% VC + 0.5% VE) or Comb (0.5% VC + 0.5% VE + 2.5% N-acetylcysteine) improves acute diabetic renal inflammation through modulation of blood glucose levels and antioxidant and anti-inflammatory responses. Experimental animals (5.5 weeks old female ICR) used were treated with alloxan (180 mg/kg) once. When fasting blood glucose levels were higher than 250 mg/dL, mice were divided into 3 groups fed different levels of antioxidant supplementation, DM (diabetic mice fed AIN 93G purified rodent diet); VCE (diabetic mice fed 0.5% vitamin C and 0.5% vitamin E supplemented diet); Comb (diabetic mice fed 0.5% vitamin C, 0.5% vitamin E and 2.5% N-acetylcysteine supplemented diet), for 10 days and then sacrificed. Body weights were measured once a week and blood glucose levels were monitored twice a week. Lipid peroxidation products, thiobarbituric acid reacting substances were measured in kidney. NF-${\kappa}B$ activation was indirectly demonstrated by pI${\kappa}B$-${\alpna}$ and expressions of selective inflammatory and oxidative stress markers including antioxidant enzymes were also determined. Dietary antioxidant supplementation improved levels of blood glucose as well as kidney lipid peroxi-dation. Dietary antioxidant supplementation improved NF-${\kappa}B$ activation and protein expression of HO-1, but not mRNA expression levels in diabetic mice fed Comb diet. In contrast, the mRNA and protein expression of CuZnSOD was decreased in diabetic mice fed Comb diet. However, antioxidant supplementation did not improve mRNA and protein expressions of IL-$1{\beta}$ and MnSOD in diabetic mice. These findings demonstrate that acute diabetic renal inflammation was associated with altered inflammatory and antioxidant responses and suggest that antioxidant cocktail supplementation may have beneficial effects on early stage of diabetic nephropathy through modulation of blood glucose levels and antioxidant enzyme expressions.