• Journal of Venture Innovation
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• v.1 no.2
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• pp.35-46
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• 2018

The research on the efficiency analysis of domestic auto parts companies is mostly based on the calculation of the magnitude of the performance creation such as the sales amount compared to the input assets. However, the performance indicators such as sales, operating profit, and net profit are directly related to the cost structure and This cost structure is affected by changes in the firm's asset and capital structure. As a result, it is considered that efficient capital procurement needs to be done at the same time to create efficient management performance through proper investment. This study focuses on this point and attempts to measure the efficiency of procurement capital relative to the sales and other performance indicators generated by the first 33 suppliers who supply parts to Hyundai Kia Motors. Among the methods of evaluating efficiency, the DEA model based on the linear programming method is most widely used as a nonparametric method but The efficient frontier-based DEA model has the limitation that it can not use the variables that have a downward influence on the efficiency. This is inadequate to directly consider variables such as borrowings and total liabilities related to capital procurement. In this study, the efficiency of capital procurement was measured using Worst Practice DEA and the improvement direction of the capital procurement aspect of domestic auto parts companies was suggested

• Asian Journal of Business Environment
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• v.3 no.2
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• pp.5-15
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• 2013

Purpose - This pilot study explores the gap between venture capitalists and young business graduates in Pakistan. Though the young graduates remain enthusiastic about choosing entrepreneurship as a profession, their success is subject to financial constraints. Research design, data, methodology - We administered a Likert-scale based questionnaire to 200 business graduates from June to July 2012, and interviewed ten venture capitalists from Islamabad and Lahore-two highly business oriented cities of Pakistan-to collect the data. The survey participation was on a voluntary basis without any financial sponsorship. Findings- There is a communication gap between the two parties (venture capitalists and business graduates), and a lack of trust in the entrepreneurial education and training offered in the educational institutions in Pakistan. The study, however, reveals the leading role of the Government in reducing this gap through certain measures. Conclusions - Some measures that can reduce the gap between venture capitalists and young graduates are: association of business schools with industry; financial institutions'initiatives to financially support the small and medium level projects of the economics and business students during their studies; establishment of placement bureaus in the business schools; and organization of regular open houses in the universities.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.18
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• pp.159-188
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• 2002

International joint ventures are usually formed and managed by domestic companies and foreign investors for the common objectives. They offer an opportunity for each partner to benefit significantly from the comparative advantages of the other. Local partners bring knowledge of the domestic market; familiarity with government bureaucracies and regulations; understanding of local labor markets; and existing manufacturing facilities. Foreign partners can offer advanced process and product technologies, management know-how, and access to export markets. In Korea, joint ventures have been encouraged to usher in foreign investors with foreign currency capital badly needed during the IMF financial crisis. In the meantime, Korean laws and regulations with respect to joint ventures have been largely overhauled to promote foreign direct investment (FDI) both inbound and outbound. They include four types of FDI, i.e., acquisition of foreign stocks, provision of long-term loans, participation in joint operations like resources development, and establishment of foreign offices. From the legal point of view, the formal joint venture agreement must be an offspring of a series of tough negotiations between domestic and foreign partners. They usually stress the long-term relationship with the good will and dedication to each other, and restrict the free transfer of stocks. Both partners are earnestly interested in the ownership and management of the joint venture. So they keep a close eye on the articles of incorporation, changes of business environment, conflict resolution methods, transparency of accounting and other financial matters. When a multinational corporation (MNC) is involved in the joint venture, conflicts over management strategies, marketing and other issues take place more often than not between the MNC and local partners. We have to pay attention to joint ventures, particularly, in China and North Korea. As witnessed in other transition economies, China is eagerly bringing in foreign direct investments for the development of nation's economy. China encourages foreign investors to establish ordinary joint ventures, contractual joint ventures, solely invested foreign capital companies and jointly operated development companies with local partners. In North Korea, however, joint ventures have a different meaning like contractual joint ventures in China, in which North Korean partners have an initiative in the management. Rather, jointly operated companies or simply processing-for-wage companies are recommended in view of the unpredictable legal infrastructure in North Korea.

• Journal of Industrial Convergence
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• v.20 no.12
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• pp.227-233
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• 2022

The purpose of this research is to grasp the purpose of patent applications by companies. Based on this, we grasped the purpose of the patent application through consideration of previous research, selected 10 factors through expert Delphi, and conducted a questionnaire survey on these factors among practitioners in charge of patents in Chinese companies. Analysis results, Improve the technological image of your company, For use in negotiation: cross licensing, joint venture, Improve the situation in R&D cooperations, Enhance Reputation, Measure performance, Aacquire venture capital, Prevent patent infringement suits, Licensing Revenue, competitors' patenting and application activities, prevent copying or protect own technology from imitation. We hope that the results of this research will be useful as practical guidelines for understanding and applying factors that companies should prioritize when filing patent applications.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.4 no.3
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• pp.23-38
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• 2009

The paper tried to search the characteristics and performances of the new business openers in the area of the beauty salon business. Most of the business owners are women and university graduates. They are mostly active and positive. The search found that the location is one of the most important subject in the small service business. They also tend to calculate the revenues and expenses everyday. They pay lots of attention for the financial performance. They were not much confident with their capital raising. The lowest point was in the area of governmental support. The size and equity capital followed next. The regression analysis showed that continuous marketing activity is important for the performance of the venture.

• Journal of Venture Innovation
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• v.7 no.1
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• pp.131-149
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• 2024

This study was important considering the prevalence of small business owners in the Korean economy and the challenges they faced amidst an economic downturn. The business performance of these owners was crucial for their survival. Thus, an empirical analysis was conducted to identify factors influencing their management performance. The analysis included personal characteristics of small business owners such as innovativeness, management capability, need for achievement, and technical capability as independent variables, along with product differentiation factors. Additionally, the moderating effect of social capital on these variables and their impact on management performance was tested. To achieve this, a survey targeting small business owners across Korea was conducted, and data from 250 respondents were utilized. Hierarchical regression analysis using SPSS 24.0 was employed for the empirical analysis. The results indicated that management capability, need for achievement, and product differentiation significantly positively impacted business performance. However, the impact of innovativeness and technical capability was not tested. The influence of the variables on business performance ranked as follows: product differentiation, management capability, and need for achievement. The moderating effect of social capital was significant in the relationship between management capability, need for achievement, and management performance, enhancing these relationships. However, the moderating effect of social capital on the relationship between innovativeness, technical capability, product differentiation, and management performance was not tested. These findings underscored the importance of management capability, need for achievement, and product differentiation as key factors affecting the management performance of Korean small businesses. This study was significant as it provided insights into improving the management performance of small business owners in challenging economic conditions by highlighting how the influence of these factors varied depending on the social capital possessed by the owners.

• Journal of Korean Society for Quality Management
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• v.40 no.2
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• pp.126-144
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• 2012

Lately, the importance of social responsibility of venture companies is becoming highlighted in Korea.This study is to empirically suggest that the practice of social responsibility by venture companies will become the foundation for formation of the organizational trust and for the sustainable growth of the organization. The certification on social responsibility for venture companies has been conducted for past five year and based on the research on difference of organizational validity on companies that are certified and non-certified by its practice of social responsibility, we've found organizational trust difference in two groups; the companies that already formed organizational trust did not have new mediation effect due to organizational commitment but the non-certified companies that did not have organization trust created new medication effect from organizational commitment. This can be understood that the organizational commitment effect through social responsibility is already formed for companies that have created organizational trust through social responsibility certification. The organizational infrastructure is needed for sustainable growth and development of an organization; therefore, the differentiated organizational trust for social responsibility certified organization will become the infrastructure for growth of the certified organizations.

• Journal of the Korean Operations Research and Management Science Society
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• v.26 no.3
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• pp.21-37
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• 2001

Riding on the wave of the information technology revolution, a slow of internet venture businesses (IVB) came into being. Hence, one of the recent developments in Korean capital market has been the proliferation of IVB, which is in accordance with the worldwide trend of ‘new economy’. Although the fair valuation is crucial for the nourishment of IVB, it is difficult to apply traditional valuation methods to these firms without reservation. It is due to the facts that most venture firms have little records of performance, grow unprecedently fast, and have highly uncertain future. The main purpose of this study is to suggest performance evaluation system of IVB and to develop KPE (Key Performance Indicators). Our empirical study is based upon Kaplan & Norton’s Balance Scorecard (BSC) approach. Specifically, our research has been conducted by the following two subsequent procedures: Firstly, seven internet venture firms have been selected and their executives have been interviewed by FGI(Focus Group Interview) method. Based upon these results, performance indicators have been developed. Secondly, by using the above mentioned BSC items (i.e., financial perspective, customer perspective, internal perspective and innovation & learning perspective), questionnaires have been constructed and sent to IVB through e-mail as well as over the Fax. Among the collected 110 samples, reliable 106 samples have been used to build BSC model and to draw our conclusion. In the future study, it would be much better to consider the role of strategy in IVB and the causal relationship among Key Performance Indicators of BSC.

• 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.

• KDI Journal of Economic Policy
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• v.38 no.2
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• pp.21-44
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• 2016

There has been a surge of interest in private equity as an alternative corporate restructuring scheme to complement the current institutional forms such as workouts and court receivership. By empirically examining whether private equity in Korea can improve investee companies, we find that while private equity in Korea did not sacrifice the long-term growth potential of investee firms, it did not improve their profitability (e.g. ROA, ROE, and ROS) or growth (e.g. sales growth) either. Both the negative correlation between business performance and firm age and our empirical results showing that young firms were favored by private equity for investment imply that Korean private equity may perform as growth capital, similar to venture capital rather than as buyouts for corporate restructuring.