• Journal of Technology Innovation
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• v.14 no.1
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• pp.67-99
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• 2006

Utilizing the patent application data between 1997 and 2002, this study focuses on analysing the impact of patents on firm value. Especially we attempt to examine the difference of patents between venture firms and general firms. This paper first shows that the number of the patent applications of general firms listed on the securities market is more than that of venture firms listed on KOSDAQ. It is thought that this result is originated from the facts that the size of firms of the securities market is usually bigger than that of the firms of KOSDAQ and that these large firms could manage R&D more efficiently. Second, this paper reports that there is no difference in the ratio of patent maintenance between venture firms and general firms. Both venture firms and non-venture firms would do their best to keep their patents after patent regisration. Third, in the regression of patent index and firm growth, we find that the excellence of patent and the number of patents per employee would have an impact on the growth of firms. Fourth, the regression of patent index and profitability shows that the excellence and the number of patents per employee might have an effect on the profitability of firms.

• Korean System Dynamics Review
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• v.2 no.2
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• pp.119-134
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• 2001

Since 1998, government-led Korean venture business boom now proceeds into the stage of market-oriented venture business growth. At such a moment, this research is to clarify the relations between the success factors of Korean venture businesses, based on domestic and foreign documentary surveys and inquiry surveys over domestic venture businesses. This research starts from the necessity to overcome the limits of the existing researches by uni-dimensional probing research into success factors of Korean venture businesses and to manifest the multi-dimensional relations between the success factors from the various viewpoints. And this research adopts System-Dynamics methodology to manifest and utilize relations among those factors, avoiding the existing metrical approaches. This research can be called a new approach to the current ecosystems of Korean venture in which whether venture businesses success in Korea is considered to depend on the list on the stock market. For this, this research implemented verification analysis through the simulations of each factor at various levels to build causality map which clarifies the causality of success factors of venture businesses through the System-Dynamics methodology and to utilize it as a way of supporting tool for decision-making of venture businesses. This research will be able to suggest the reactions depending on various internal and external situations. This research tried to manifest the causality map of each factor on the basis of inquiry surveys and documentary surveys to verify feedback among each factor by the SD methodology. This research will be a basis bolster up the still fragile substructure of venture businesses through an efficient analysis framework using the verification of SD methodology and resulting outcomes from this research.

• Proceedings of the Korean System Dynamics Society
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• 2001.10a
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• pp.3-14
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• 2001

Since 1998, government-led Korean venture business boom now proceeds into the stage of market-oriented venture business growth. At such a moment, this research is to clarify the relations between the success factors of Korean venture businesses, based on domestic and foreign documentary surveys and inquiry surveys over domestic venture businesses. This research starts from the necessity to overcome the limits of the existing researches by uni-dimensional probing research into success factors of Korean venture businesses and to manifest the multi-dimensional relations between the success factors from the various viewpoints. And this research adopts System-Dynamics methodology to manifest and utilize relations among those factors, avoiding the existing metrical approaches. This research can be called a new approach to the current ecosystems of Korean venture in which whether venture businesses success in Korea is considered to depend on the list on the stock market. For this, this research implemented verification analysis through the simulations of each factor at various levels to build causality map which clarifies the causality of success factors of venture businesses through the System-Dynamics methodology and to utilize it as a way of supporting tool for decision-making of venture businesses. This research will be able to suggest the reactions depending on various internal and external situations. This research tried to manifest the causality map of each factor on the basis of inquiry surveys and documentary surveys to verify feedback among each factor by the SD methodology. This research will be a basis bolster up the still fragile substructure of venture businesses through an efficient analysis framework using the verification of SD methodology and resulting outcomes from this research.

• KDI Journal of Economic Policy
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• v.35 no.1
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• pp.63-101
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• 2013

'Venture firms' in Korea are the firms who are certified as 'venture', whose certification types are defined by a law ('Special Law for the Support of Venture Firms'), and therefore encompass not only the venture capital-financed companies, which are usually regarded as ventures in USA and European countries, but also other types of firms such as R&D-intensive firms and the firms with financial guarantee or loans through technology evaluation ('technology finance or loan firms'). This paper examines the differences in the Korean venture firms' growth between the venture certification types. For the empirical analysis, this paper uses the lists of venture-certified firms from 1998 to 2010 which are then linked with their financial data in Korea Enterprises Database (KED). According to the results of empirical analyses, the companies in the 'venture capital-financed firms' type show greater growth rate in sales and the number of regular employees 3 and 5 years after first venture certification than the firms in type of 'technology finance/loan firms'. Moreover, the newly certified companies in 'R&D-intensive firms' type are also showing faster growth than the 'technology finance/loan firms' since 2003 where the venture industry has undergone a consolidation phase after the blast of so-called 'IT venture bubble' in 2001~2002. These results imply that the so-called 'venture firms' in Korea are composed with heterogeneous firm groups with different characteristics and that the companies selected through market mechanism ('venture capital-financed firms') outperforms the companies selected on the basis of policy interests ('technology finance/loan firms') in terms of the growth in sales and employment. On the basis of these findings, this paper suggests that the current venture-support policy should consider the different policy demands of firms across the type of venture certification more actively and that should refocus the objective of policies on facilitating venture capital market rather than emphasizing the nominal increase in the number of venture-certified firms.

• Journal of Korea Technology Innovation Society
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• v.14 no.4
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• pp.1000-1023
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• 2011

The government adopts mainly three venture-supporting systems such as Venture Certification, InnoBiz Certification, and MainBiz Certification. This study compares the policy effects of productive aspects and technical inefficiency aspects of Venture Certification and InnoBiz Certification using the data on 'The 2010 Actual Conditions of Venture Enterprise.' With the estimation of production functions, it is found that only 'financing and ease of investment' produces a statistically significant effects on productivity. On the other hands, the other effects of 'the venture certification' do not produce positive effects. However, it is revealed that 'the venture certification policy' primarily reduces technical inefficiencies. The InnoBiz certification policy shows primarily insignificant effects in both sides of the production aspects and technical inefficiency aspects. However, the 'marketing ability effect' produces a positive effect on production and reduces the technical inefficiencies as well.

• Venture DIGEST
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• s.36
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• pp.10-11
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• 2003

협회가 매달 개최해 오고 있는 벤처CEO포럼이 '벤처코리아2003' 행사의 일환으로 7일 코엑스에서 열렸다. 이영권 명지대 교수의 사회로 진행된 이날 벤처CEO포럼에는 미국 스탠포드 경영대학원 명예 교수이자 볼랜드소프트웨어 회장인 윌리엄 밀러 교수가 세계 IT시장에 대한 의견을 밝혔다. 이어 해외시장 진출에 경험이 풍부한 로커스 김형순 대표와 휴맥스 변대규 대표가 패널로 참석해 국내 벤처의 해외진출과 글로벌 네트워크 구축에 대해 토의했다.

• Venture DIGEST
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• s.61
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• pp.22-23
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• 2004

독일, 영국에 이어 유럽 마지막 편으로 프랑스와 동유럽의 IT현황을 준비하였다. 프랑스는 세계4위의 경제강국으로 유럽국가 중 GDP규모 1위를 지키고 있고, 동유럽국가들은 EU진출을 계기로 새롭게 주목받고 있다. 이들 나라들의 정보통신 현황을 살펴보고 유럽진출의 방안을 다각도로 모색해보자.

• Venture DIGEST
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• s.90
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• pp.16-17
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• 2006

각지자체들의 적극적인 첨단 IT기업 육성시책과 함께 지역사회를 기반으로 한 작지만 강한 벤처기업들이 주목을 끌고 있다. 지역의 특징을 잡아내 지역 경제 흐름을 이끌고 있는 벤처기업들은 때로는 향토자원을 개발 ·활용해 부가가치를 창출하는 한편 틈새시장을 공략하며 우리나라 지역 경제의 균형을 잡아가고 있다.

• Venture DIGEST
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• s.68
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• pp.20-21
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• 2005

1992년 발족한 정보통신연구진흥원은 정보통신 분야의 기술개발과 인력양성, 연구기반조성 및 정보화촉진기금을 운용∙관리하는 연구기관이다. 정보통신부가 마련한 벤처기업 지원정책들을 실행하는 주체로 다양한 출연사업과 융자사업을 통해 중소∙벤처기업을 지원하고 있다.

• Venture DIGEST
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• s.102
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• pp.42-43
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• 2007

우리에게 브라질은 축구, 아마존 밀림, 열정의 삼바축제의 이미지로 각인되어 있다. 하지만 세계 4위의 비행기 수출국이며 자동차 수출 세계 10위의 국가 역시 브라질의 또 다른 얼굴이다. 자연과 첨단이 어우러진 국가 브라질. 이번 호에서는 브라질의 국가 및 시장 특성 및 IT 시장에 대해 알아 본다.