BazEkon - Biblioteka Główna Uniwersytetu Ekonomicznego w Krakowie

BazEkon home page

Meny główne

Choi Youngkeun (Sangmyung University)
How Korean Venture Capitals Invest In New Technology Ventures
Journal of Entrepreneurship, Management and Innovation (JEMI), 2013, vol. 9, nr 3, s. 79-96, tab., bibliogr. 65 poz.
Tytuł własny numeru
Entrepreneurial Orientation and Opportunities
Słowa kluczowe
Venture capital, Nowe technologie
Venture capital, High-tech
streszcz., summ.
Korea Południowa
South Korea
Niniejszy artykuł bada, jakiego rodzaju zewnętrzne wsparcie jest pomocne dla inwestycji typu venture capital oraz dla rozwoju przedsięwzięć dotyczących nowych technologii. Praca ta korzysta z teorii sygnalizacji oraz metodologii wielokrotnej regresji oraz analizy przetrwania, wykorzystując dane panelowe dotyczące przedsięwzięć powstałych w Korei. Wyniki pokazują, że współpraca z grupami biznesu oraz poświadczenie przez rząd mają pozytywny wpływ na przyciągnięcie inwestycji typu venture capital, które przyspieszają wzrost przedsięwzięć dotyczących nowych technologii. Praktyczna implikacja dla przedsiębiorców jest taka, że potrzebują oni uzyskać strategiczne wsparcie od grup biznesu oraz rządu. (abstrakt oryginalny)

In the entrepreneurship field, this study examines what kinds of externa I endorsements are helpful for venture capitals investment and the growth of new technology ventures in developing countries. This study uses the signalling theory and the methodologies of multiple regression and survival analysis with the panel data of the ventures in Korea. In the results, collaboration with business groups and certification of government are positively influential in attracting venture capitals' investment, which accelerate the growth of new technology ventures. The practical implication for entrepreneurs is that they need to obtain the endorsement from business groups and governments strategically. (original abstract)
Dostępne w
Biblioteka Główna Uniwersytetu Ekonomicznego w Katowicach
Pełny tekst
  1. Acs, Z., Audresch, D. B. (1990). Innovation and small firms. Cambridge: MIT Press.
  2. Aldrich, H., Fiol, M. (1994). Fools rush in? The institutional context of industry creation. Academy of Management Review, 19, 645-670.
  3. Audretsch, D.B. (1995). Innovation and industry evolution. Cambridge: The MIT Press.
  4. Baron, R. M., Kenny, D. A. (1986). The moderator-mediator variable distinction in social psychological research: Conceptual, strategic, and statistical considerations. Journal of Personality and Social Psychology, 51(6), 1173-1182.
  5. Bates, T. (1995). Self-employment entry across industry groups. Journal of Business Venturing, 10(2), 143-56.
  6. Baum J, Silverman B. (2004). Picking Winners or building them? Alliance, intellectual, and human capital as selection criteria in venture financing and performance of biotechnology startups. Journal of Business Venturing, 19{3), 411-436.
  7. Becker, G. S. (1964). Human Capital: a Theoretical and Empirical Analysis. Columbia University Press: New York.
  8. Bruderl, J., Preisendorfer, P., Ziegler, R. (1992). Survival chances of newly founded business organizations. American Sociological Review, 227-242.
  9. Baum, J. (1996). Organizational ecology. In: Clegg, S., Hardy, C., Nord, W. (Eds.), Handbook of Organization Studies (pp. 77-114). London: Sage Publications.
  10. Carpenter R. E., Petersen B. C. (2002a). Capital market imperfections, hightech investment, and new equity financing. Economic Journal, 112, 54-72.
  11. Carpenter R. E., Petersen B.C. (2002b). Is the growth of small firms constrained by internal finance? The Review of Economics and Statistics, 84, 298-309.
  12. Castanias, R. P., Helfat, C. E. (1991). Managerial resources and rents. Journal of Management, 17(1), 155-171.
  13. Chang, S. J. (2004). Venture capital financing, strategic alliances, and the initial public offerings of internet startups. Journal of Business Venturing, 19(5), 721-741.
  14. Chatterjee, S., Hadi, A. S. (2006). Regression analysis by example. New Jersey: John Wiley and Sons.
  15. Cohen, W. M., Daniel A. L. (1990). Absorptive capacity: a new perspective on learning and innovation. Administrative Science Quarterly, 35,128-152.
  16. Colombo, M. G., Grilli, L. (2007). Funding gaps? Access to bank loans by hightech start-ups. Small Business Economics, 29(1), 25-46.
  17. Deeds, D., Mang, P., Frandsen, M. (1997a). The impact of firm-specific capabilities on the amount of capital raised in an initial public offering: evidence from the biotechnology industry. Journal of Business Venturing, 12, 31- 46.
  18. Deeds, D., Mang, P., Frandsen, M. (1997b). The quest for legitimacy: a study of biotechnology IPO's. Frontiers of Entrepreneurial Research, 533-543.
  19. DiMaggio, P., Powell, W. (1983). The iron cage revisited: institutional isomorphism and collective rationality in organizational field. American Sociology Review, 48,147- 160.
  20. Eisenhardt, K. M., Schoonhoven, C. B. (1996). Resource-based view of strategic alliance formation: Strategic and social effects in entrepreneurial firms. Organization Science, 136-50.
  21. Ernst, D. (2005). Pathways to innovation in Asia's leading electronics-exporting countries-a framework for exploring drivers and policy implications. International Journal of Technology Management, 29(1), 6-20.
  22. Ernst, D., Naughton, B. (2008). China's emerging industrial economy: Insights from the IT industry. London: New York: Routledge.
  23. Fichman, M., Levinthal, D. (1991). Honeymoons and the liabilities of adolescence: a new perspective on duration dependence in social and organizational relationships. Academy of Management Review. 16, 442-468.
  24. Freeman, J. (1999). Venture capital as an economy of time. In Leenders RTAJ, Gabbay S (Eds.), Corporate Social Capital and Liability (pp.460 -482), Norwell, MA. Kluwer Academic Publisher.
  25. Gompers, P. A., Lerner, J. (1997). Risk and reward in private equity investments: the challenge of performance assessment. Journal of Private Equity, 1(2), 5-12.
  26. Granovetter, M. S. (1995). Getting a job: a study of contacts and careers. Chicago: University of Chicago Press.
  27. Green, P. G., Brush, C. G., Hart, M. M. (1999). The corporate venture champion: a resource-based approach to role and process. Entrepreneurship Theory and Practice, 23,103-122.
  28. Griliches, Z. (1998). R&D Productivity. University of Chicago Press: Chicago, IL.
  29. Guthrie, J. P., Grimm, C. M., Smith, K. G. (1991). Environmental change and management staffing: An empirical study. Journal of Management, 17(A), 735-748.
  30. Henderson, R., Cockburn, L. (1994). Measuring competence? Exploring firm effects in pharmaceutical research. Strategic Management Journal, 15 (special issue), 63-84.
  31. Jain, B. A., Kini, 0. (1994). The post-issue operating performance of IPO firms. Journal of Finance, 1699-1726.
  32. Khanna, T., Palepu, K. (1997). Why focused strategies may be wrong for emerging markets. Harvard Business Review, 75(4), 41-51.
  33. Khan, A. M. Manopichetwattana. V. (1989). Innovative and non-innovative small firms: Types and characteristics. Management Science, 35(5), 597-606.
  34. Kirzner, I. M. (1997). Entrepreneurial discovery and the competitive market process: An Austrian approach. Journal of Economic Literature, 35(1), 60-85.
  35. Kogut, B., Zander, U. (1996). What firms do? Coordination, identity, and learning. Organization Science, 7, 502-518.
  36. Lach, S. (2000). Do R&D subsides stimulate or displace private R&D? Evidence from Israel. Working Paper 7943, National Bureau of Economic Research, Inc.
  37. Lee, B. (2002). The growth of venture businesses and policy recommendations. Regulatory Research 11, 2,119.
  38. Lerner J. (1999). The government as venture capitalist: the long-run impact of the SBIR program. Journal of Business, 72(3), 285-318.
  39. MacMillan, I. C., Siegel, R., Narasimha, P. (1985). Criteria used by venture capitalists to evaluate new venture proposals. Journal of Business Venturing, 1(1), 119-128.
  40. McMullen, J. S. Shepherd, D. A. (2006). Entrepreneurial action and the role of uncertainty in the theory of the entrepreneur. The Academy of Management Review, 31(1), 132- 152.
  41. Megginson, W. L., Weiss, K. H. (1991). Venture capitalists certification in initial public offerings. Journal of Finance, 46(3), 897-903.
  42. Mincer J. (1974). Schooling, experience and earnings. Colombia University Press: New York.
  43. OECD (1997). Best practice policies for SMEs venture business policy in Korea and its implication. Paris: Publications Service.
  44. Oliver, C. (1991). Strategic responses to institutional processes. Academy of Management Review, 16,145-179.
  45. Peneder, M. (2008). The problem of private under-investment in innovation: a policy mind map. Technovation 28(8), 518-530.
  46. Podolny, J. M., Stuart, T. E. (1995). a role-based ecology of technological change. American Journal of Sociology, 100,1224-1260.
  47. Podolny J. M. (2001). Network as the pipes and prisms of the market. American Journal of Sociology, 98(4), 829-872.
  48. Podolny, J. M. (1993). A status-based model of market competition. American Journal of Sociology, 98, 829-872.
  49. Porter, M. (1980). Competitive Strategy Free Press, New York.
  50. Ratajczak-Mrozek, M. (2012). Global Business Networks and Cooperation within Supply Chain as a Strategy for High-Tech Companies' Growth. Journal of Entrepreneurship, Management and Innoation, 8(1), 35-51.
  51. Schultz, T. (1959). Investment in man: An economist's view. Social Service Review, 33 (2), 69-75.
  52. Spence, A. M. Michael, A. (1974). Market signaling: Informational transfer in hiring and related screening processes. Cambridge: Harvard University Press.
  53. Spence, M. (1973). Job market signaling. The Quarterly Journal of Economics, 87(3), 355-374.
  54. Stuart, T. E. (2000). Inter-organizational alliances and the performance of firms: a study of growth and innovation rates in a high technology industry. Strategic Management Journal, 21 (8), 791-811.
  55. Stuart, T. E., Hoang, H., Hybels, R. C. (1999). Inter-organizational endorsements and the performance of entrepreneurial ventures. Administrative Science Quarterly, 44(2), 315-349.
  56. Suchman, M. (1995). Managing legitimacy: strategic and institutional approaches. Academy of Management Review, 20, 571-610.
  57. Tan, W. C., Tay, R. S. (1994). Factors contributing to the growth of SMEs: the Singapore case. In Proceedings of the 5th ENDEC World Conference on Entrepreneurship, Singapore: 150-161.
  58. Teece, D. J. (1996). Firm organization, industrial structure, and technological innovation. Journal of Economic Behaviour & Organization, 31(2), 193- 224.
  59. Timmons, J. A., Bygrave, W. D. (1986). Venture capital's role in financing innovation for economic growth. Journal of Business Venturing, 1(2), 161-176.
  60. Turna, N. B. Hannan, M. T. (1984). Social dynamics: Models and methods. New York: Academic Press.
  61. Tushman, M. L. Rosenkopf, L. (1992). Organizational determinants of technological change: Toward a sociology of technological evolution. Research in Organizational Behaviour, 14, 311-331.
  62. USSBA (1995). Foundation for a New Century, USA.
  63. Utterback, J. M., O'neill, R. (1994). Mastering the dynamics of innovation: How companies can seize opportunities in the face of technological change. Boston: Harvard Business School Press.
  64. Weick, K. E. (1996). Drop your tools: An allegory for organizational studies. Administrative Science Quarterly, 41(2), 301-313.
  65. Zimmerman, M. A. Zeitz, G. J. (2002). Beyond survival: Achieving new venture growth by building legitimacy. Academy of Management Review, 27, 414-431.
Cytowane przez
Udostępnij na Facebooku Udostępnij na Twitterze Udostępnij na Google+ Udostępnij na Pinterest Udostępnij na LinkedIn Wyślij znajomemu