• Title/Summary/Keyword: venture firm

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Review and Prospects on Venture Firm Accumulation Center: The Case of Kwan-Ak Venture Town (벤처기업집적시설의 현황과 문제점 및 개선방안에 관한 연구 서울시 관악구 벤처타운 사례를 중심으로)

  • 최지훈
    • Journal of the Economic Geographical Society of Korea
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    • v.3 no.2
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    • pp.81-96
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    • 2000
  • The study examines the present condition and prospects of venture firm accumulation center in the case of kwan-ak venture town. The survey shows most of companies have been founded since 1997. Their major items are software development and the average employees are under 10 workers. According to the questionary about the type of R&D and the level of innovation, technology innovation such as the development of new product is advanced whereas tacit innovation like inter-firm cooperation is very weak. And the source of idea and information is concentrated on the within-firms and research center As a result of the analysis of regional linkage, the dependence of production and R & D is large on kwan-ak-gu, but sales and information services have emphasis on Seoul area. In the light of the affiliation of inter-firm, they response sympathy with cooperation, but could not strengthen their commercial ties yet. At last, the policy for venture firm accumulation center must intend to make tacit measures through inventing of system instead of the simple means such as the assistance of location, finance and tax.

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An Empirical Study on the Relationship among Firm Characteristics, Human Resources and Investment Strategies of Korean Private Venture Capitals (한국 벤처캐피탈의 조직상황적 특성, 인적자원 특성 및 투자전략 간의 관계에 관한 연구)

  • Lee, Joo-Heon
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.2 no.4
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    • pp.1-17
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    • 2007
  • There are many different types of risk capital competing for deals in the korean entrepreneurial capital market. In the past, even though korean private venture capitalists did not have their distinctive competitive advantages, due to government support and subsidies, they could be survived in the market. However, the government controlled area has changed to a market driven area which emphasizes market forces and competition rather than support and protection. In order to be competitive, Korean private venture capital firms need to recruit high calibre professionals and build required financial skills for wise entrepreneurial investments. The purpose of this article is to analyze the relationships among firm characteristics, human resources, and investment strategies of korean venture capital firms. We can find that the asset size of venture capital firms has a positive effect on the size of their human resources. However, we can not find any relationship between firm characteristics and investment strategies of venture capitals. Even though we find some evidences among some variables, we need to interpret the results very carefully. Further research would be needed to carried out to clarify the disputable interpretations and our understanding of this area.

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Competitive strategies, CEO characteristics, and firm performance in venture businesses (경영전략과 최고경영자 특성이 기업성과에 미치는 영향: 벤처기업을 중심으로)

  • Park, Kyoungmi;Hwang, Jaewon
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.20 no.1
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    • pp.52-63
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    • 2019
  • Biased performance implications are common in conducting empirical analysis on leading firms in strategic management field. Venture businesses in which successful and failing firms in the future are mixed in the present could provide a better discriminative result for examining the determinants of performance. We suggest hypotheses on how competitive strategy, CEO characteristics, and their interactions affect firm performance. We examine these hypotheses through empirical analyses on the basis of a survey collected from 387 venture businesses in order to assure the validity of strategic management theories by using more deviated data. Empirical results show that innovative differentiation from competitive strategies affects firm performance and innovativeness and long-term orientation from CEO characteristics affect firm performance. According to the results of the interaction analyses between competitive strategies and CEO characteristics, cost-leadership and marketing differentiation strategies have combination effects with risk taking, innovativeness, and long-term orientation, while innovative differentiation strategy has no combination effects with risk taking, innovativeness, and long-term orientation. We conclude that cost-leadership and marketing differentiation strategies have no direct effect on firm performance but have combination effects with CEO characteristics, while innovative differentiation strategy has direct effect on firm performance but has no combination effect. Our primary contribution is that we test and confirm that the fit between competitive strategies and CEO characteristics are an important consideration to increase firm performance in venture businesses.

The Effect of Early Listing and Slack Resources of Newly Public Firm on Internationalization: Based on Entrepreneurship (신규상장기업의 신속한 주식상장과 여유자원이 국제화에 미치는 영향)

  • Kim, Kihyun
    • Journal of Information Technology Applications and Management
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    • v.29 no.3
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    • pp.25-41
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    • 2022
  • While there exists voluminous literature on the internationalization of the firms, it has focused on mature firms or born-global firms. There is still a lack of research on firm that is in the growth stage between venture and mature firm. To fill this gap, this paper focuses on the newly public firm which is enter the stock market through initial public offerings (IPO). Specifically, I examine the relationship between the early listing and internationalization. In the venture firm aspect, the decision of the IPO necessary to allow to change organization structure, ownership and take a risk from environmental movements. This paper suggests early listing is a behavior of entrepreneur orientation. According to empirical results, there is a positive relationship between early listing and internationalization. It implies that early listing may help international expansion by sourcing finance, reputations from market. Furthermore, this study emphasizes the importance of financial slack resources to international expansion. I conclude that ventures need not only early entering in stock market but also securing sufficient financial slack resources to achieve sustainable growth in the international market.

The Difference Analysis between Maturity Stages of Venture Firms by Classification Techniques of Big Data (빅데이터 분류 기법에 따른 벤처 기업의 성장 단계별 차이 분석)

  • Jung, Byoungho
    • Journal of Korea Society of Digital Industry and Information Management
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    • v.15 no.4
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    • pp.197-212
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    • 2019
  • The purpose of this study is to identify the maturity stages of venture firms through classification analysis, which is widely used as a big data technique. Venture companies should develop a competitive advantage in the market. And the maturity stage of a company can be classified into five stages. I will analyze a difference in the growth stage of venture firms between the survey response and the statistical classification methods. The firm growth level distinguished five stages and was divided into the period of start-up and declines. A classification method of big data uses popularly k-mean cluster analysis, hierarchical cluster analysis, artificial neural network, and decision tree analysis. I used variables that asset increase, capital increase, sales increase, operating profit increase, R&D investment increase, operation period and retirement number. The research results, each big data analysis technique showed a large difference of samples sized in the group. In particular, the decision tree and neural networks' methods were classified as three groups rather than five groups. The groups size of all classification analysis was all different by the big data analysis methods. Furthermore, according to the variables' selection and the sample size may be dissimilar results. Also, each classed group showed a number of competitive differences. The research implication is that an analysts need to interpret statistics through management theory in order to interpret classification of big data results correctly. In addition, the choice of classification analysis should be determined by considering not only management theory but also practical experience. Finally, the growth of venture firms needs to be examined by time-series analysis and closely monitored by individual firms. And, future research will need to include significant variables of the company's maturity stages.

The Impact of Work Experience of Related Domain on the 'Good Quality Startup' : K-Ventures Case Study (관련 기업 근무경험이 '질 좋은 청년창업'에 미치는 영향 : K벤처스 투자기업 사례를 중심으로)

  • Park, Wonmi;Choi, Suyoung
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.9 no.5
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    • pp.141-155
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    • 2014
  • This study examines the effect of previous work experience on the long-lived venture firm called 'Good Quality startup'. The research explores entrepreneurs of 16 mobile application startups that were invested by the venture capital, 'K-ventures', through the resource-based view. The results show that all of entrepreneurs had previous experiences of their business domain. They accumulated human resources such as technology capabilities, knowledge of domain, know-how, networking through learning-by-doing. Entrepreneur's human resources are the key factors for opportunity recognition and realisation process; and it is also on the ground that venture capital determines investment. Venture capital provides financial resources, management support and strong network for venture firm. Technology resources, financial resources, know-how and networking are the core managerial resources to be a long-lived venture firm called 'Good Quality Startup'. This research is an exploratory case study based on previous experience and 'good quality entrepreneurship'. The empirical study hereafter is needed.

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The Relationship among Dynamic Capability, Technology Commercialization Competence, Innovation Performance, and Competitive Advantage (수출벤처기업의 동태적 역량이 기술사업화역량, 혁신성과 및 경쟁우위에 미치는 영향)

  • Hwang, Kyung-Yun;Sung, Eul-Hyun
    • Korea Trade Review
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    • v.41 no.2
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    • pp.159-183
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    • 2016
  • This study focuses on export venture firms in Daedeok Innopolis and examines the structural relationships among dynamic capability, technology commercialization competence, innovation performance, and competitive advantage. In particular, this study attempts to analyze dynamic capabilities that may affect technology commercialization competence, innovation performance, and competitive advantage. The development of the research model takes on a dynamic-capability view and is based on empirical studies regarding competitive advantage. A survey of 103 export venture firms was conducted from January 5, 2015, to February 4, 2015. A partial least squares structural equation model is used to test the relationships between constructs set in the study. The results of the study show that the dynamic capability of an export venture firm has a significant positive influence on the firm's technology commercialization competence, innovation performance, and competitive advantage. The study also finds evidence that the export venture firm's technology commercialization competence directly affects its innovation performance and competitive advantage. In addition, the findings indicate that the innovation performance of an export venture firm has a significant positive impact on the firm's competitive advantage. Overall, these findings contribute to a better understanding of the contexts in which dynamic capability represents a specific capability for export venture firms.

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Innovative Advanced Technology through University-Industry Collaboration: Role of Venture Capitals, Entrepreneurs and Process Management in Japan

  • Nakajima, Yoji;Miyashita, Shuto;Sengoku, Shintaro
    • Asian Journal of Innovation and Policy
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    • v.7 no.3
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    • pp.564-580
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    • 2018
  • The creation of academic start-up firms is an important and practical issue in the management of technology in Japan. The present study designs a model for creating academic start-up firms that fits into the social context. It focuses on the case of FIRST Program, an initiative that consists of 30 projects in innovative arenas, analyses the presence of large-scale public funding, and investigates the role of venture capitalists as support personnel in each project. As a result, the presence and significance of 'long-term escort' by an 'entrepreneurial venture capitalist (EP-VCist)' were confirmed as common features across the cases observed. EP-VCist refers to a person who can maintain and fulfil dual roles at a university and a venture capital firm, and who can take the lead throughout the venturing process as a risk taker. 'Long-term escort' is a form of support that reduces risks in the venturing process by supporting university researchers in the pre-entrepreneurial stage and by exerting a robust bridging role between a university and an industry.

Medium-Small and Venture Firm Size Distribution and Trade Welfare (중소벤처기업규모와 무역후생)

  • Cho, Sang Sup;Min, Kyung Se
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.12 no.6
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    • pp.41-47
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    • 2017
  • This study is an empirical analysis of the welfare of small and medium venture company trade. In the past, although the study analyzes the trade welfare for representative firm, this research is focusing on the distribution of an entire industry of companies analyzed. In this study, medium-to venture enterprise-scale for logarithmic normal distribution and Pareto distribution is estimated, and this study investigates the trading welfare changes. Results of the analysis can be summarized as follows. First of all, greater trade benefits enterprise-scale heterogeneity appeared to be significant. The result of this finding appeared to be the same to large firms as well as small and medium ventures. Trading welfare, assuming the distribution of Pareto rather than logarithmic normal distribution it's supposed to be overwhelmingly large. Secondly, the case of large corporations shows the more trade welfare than that of small and medium venture companies. Third, assuming homogeneous distribution of enterprise-scale trade welfare differences did not exist. Finally, from the point of view of increasing the welfare of trade, the diversity aiming of venture business is a very important role in the long term, because of the small and medium-sized ventures trade role.

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A Study on the Development of Tax Support System in Local Tax Law for Venture Company (우리 나라 벤처기업 조세지원제도의 개선방안에 관한 연구 : 창업(벤처)중소기업 관련 지방세감면을 중심으로)

  • Lee, In-Jae;Roh, Hyun-Sub;Jang, Seok-Oh
    • Management & Information Systems Review
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    • v.8
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    • pp.129-146
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    • 2002
  • This study reviews an overview of the current tax support system in Local Tax Law for venture company. And this study provides the directions for developing tax support system in Local Tax Law related policy for the venture company in Korea. The tax authority provides a supporting directions of venture company in three ways: a financing viewpoint, a technical and manpower viewpoint, and the location viewpoint. And the supporting system for venture company is devide into tax support system through tax laws and support system through other law. The requirements of receiving tax supporting for venture company in Local Tax Law are a venture company, a small and medium company, a newly starting firm, and so forth. To mitigate the restriction imposed by the current tax law on venture company encourage venture activities in Korea.

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