• 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.

• Journal of the Institute of Electronics Engineers of Korea TC
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• v.38 no.10
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• pp.41-48
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• 2001

It is necessary to provide the QoS guaranteed end to-end routing services using the internet protocol through the connectionless network based on high speed network. From the above necessities, this paper classified the existing traffic into two type traffics such as real time traffics and non real time traffics and proposes the ATM based IP switching method with traffic type VC merging which allows many routes according to traffic type to be mapped to the same VC label. And this paper suggests the optimum switching architecture through simulation and performance analysis of proposed VC merging output module. From the simulation results, we confirmed the performance of the proposed method better than existing VC merging system under mixed traffic circumstances.

• Toxicological Research
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• v.16 no.1
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• pp.9-16
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• 2000

Ginseng (the root of Panax ginseng C. A. Meyer, Araliaceae) has been used for traditional medicine in China, Korea, Japan and other Asian countries. It is most often used as a general tonic, and it involves a wide range of pharmacological actions, such as antiaging, adaptogen-like effect to foreign deleterious infringement, immunoenhancement, antistress, antitumor, and antioxidant actions. Red ginseng showed anticarcinogenic activity against various chemical carcinogens in mouse and cancer-preventive effect of human being as on mice in experimental and epidemiological studies. In the present study, we have found the protective properties of red ginseng against vinyl carbamate (VC) which is the proximate carcinogen of ethyl carbamate and its ultimate carcinogenic epoxides. Red ginseng exhibited dose-dependent inhibition on the mutagenci activities of boty VC in the presence of S9 mix and vinyl carbamate epoxide (VCO) without metabolic activation in Salmonella typhimurium TA1535. Formation of DNA adducts from VCO was also attenuated in the presence of red ginseng. Oral administration of red ginseng prior to the topical application of each of the above carcinogens and TPA treatment resulted in significant reduction in both incidence and multiplicity of skin tumors in mice. These results indicate that red ginseng possesses a strong chemopreventive effect against mouse skin carcinogenesis induced by VC or VCO.

• Journal of IKEEE
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• v.19 no.1
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• pp.1-9
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• 2015

This paper proposes the design of sub-pixel interpolation circuit for real-time multi-decoder supporting 4K-UHD video images. The proposed sub-pixel interpolation circuit supports H.264, MPEG-4, VC-1 and new video compression standard HEVC. The common part of the interpolation algorithm used in each video compression standard is shared to reduce the circuit size. An intermediate buffer is effectively used to reduce the circuit size and optimize the performance. The proposed sub-pixel interpolation circuit was synthesised by using 130nm standard cell library. The synthesized gate-level circuit consists of 122,564 gates and processes 35~86 image frames per second for 4K-UHD video at the maximum operation frequency of 200MHz. Therefore, the proposed circuit can process 4K-UHD video in real time.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.6
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• pp.13-24
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• 2022

The purpose of this study is to examine whether the existence of related personnel in KOSDAQ technology special listed firms has a signal effect on the market and affects performance when listed. The KOSDAQ technology special listing system is a system introduced to enable future growth by securing financing through corporate public offering based on the technology and marketability of technology-based startups and venture companies. As a result of analyzing 135 special technology companies listed from 2005 to 21 (excluding SPAC mergers and foreign companies) whether or not related personnel affect corporate value and listing period when they are listed, it was analyzed that the presence of related personnel did not significantly affect corporate value or listing period. The same was found in the results of the verification by reducing the scope to related personnel such as public officials and related agencies. However, under certain conditions, significant results were derived from the presence of related personnel on the listing of companies listed in special technology cases. It was found that the presence of related personnel and VC investment had a significant effect on corporate value, and in the case of bio-industry, there was a slight significant effect on the duration of listing. This study is significant in that it systematically analyzed the signal effect of the existence of related personnel for the first time for all 135 companies. In addition, as a result of the analysis, the results suggest that internalized efforts to secure technology and marketability are more important, such as parallel to VC investment, rather than simply recruiting related personnel.

• Management & Information Systems Review
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• v.36 no.4
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• pp.117-127
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• 2017

In recent times the size of the world IPO in general has skyrocketed. Specifically, China's financial market development is becoming important as both the size of China's capital market and the number of companies going public are gradually increasing. This has led to a rapid development of venture vapital(VC) institutions in China for the past couple of decades. This study focuses on one of the three markets of China's Shenzhen Stock Exchange-the Growth Enterprise Board((GEB) hereafter, ChiNext). The ChiNext is established in October, 2009 to enable hi-tech or high growth potential technology companies that find it relatively difficult to fulfil the listing requirements of either the Shenzhen Main Board or Small and Medium Size Enterprise Board(SMEB) to go public. This study covers a three-year period(2012/01/-2015/01) and analyze first day initial return of 83 venture capital-backed companies and 53 non-venture capital-backed companies using T-test. Regression analysis is used as to examine the variables affecting IPO's first-day return. The empirical results are four-fold. First, the level of first day return of venture-backed is significantly lower than non venture capital backed support in the Chinese venture capital market. Second, the level of first-day return of listed companies supported by foreign venture capital is significantly higher than that of companies receiving domestic venture capital support. Third, the firms that have a large number of venture capital firms showed a low level of first-day return. Fourth, regression result for the IPO first-day return which is as dependent variable indicates that the venture capital support(VCAP), number of venture capital(VCNum), offering size(Lnsize) and PER all affect have negative effect on the first day initial return. Also, the venture capital type(VCType), turnover ratio and the the firm type(Tech-firms) statistically affect IPO first day return positively. Finally, by shedding more light on the IPO first-day return, this paper provides meaningful information to investors about the Chinese IPO market.