This study investigates underpricing of IPOs of venture business in Korea associated with the certification role of venture capitalist. The sample covers 80 venture companies listed on KOSDAQ from January, 1997 to December, 2001. We find the following results.

Firstly, we find evidence of the certification role of venture capitalist when venture capitalist‘s reputation is considered while we find no such evidence with respect to the venture capitalist‘s ownership in venture business.

Secondly, unlike the US results, we do not find that reputation of underwriter plays an important role in explaining the IPOs performance of venture business in Korea.

Lastly, we find that the certification role of venture capitalist still exists even after controlling reputation of underwriter, venture capitalist‘s ownership in venture business, and history of venture business.

From the above results, we conclude that the key factor for the underpricing of venture business IPOs in Korea is the venture capitalist‘s reputation rather than the venture capitalist's ownership. The result in this study contradicts the result in US.

This study empirically examines the influencing factors of internationalization activities and the impacts of internationalization activities on firm's performance. Based on the sample of 2,336 ventures in manufacturing sectors, proposed hypotheses are tested using non-parametric analysis.
Major findings of this study are as follows. First, the industry's technological level and venture's capital structure, asset and cost structure affect the patterns of internationalization activities. Second, the extent of internationalization activity is related to firm's performance.

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The purpose of this research is to identify problems of the Small Business Development Center in Korea(KSBDC) and to propose how to resolve them. In order to identify problems a survey of counsellors of KSBDC and officials of Korea Small and Medium Business Administration was conducted. For in-depth understanding of the problems, qualifications of the counsellors, assessment of work compensation, and work attitude of the counsellors were examined and analyzed. Based on the results of survey and analyses, how to resolve the problems is suggested.

Aiming at the research of human resource management of venture business, who play a critical role in development and success of venture business, this study to intend to make some policy suggestions for successful establishment of such enterprises, and this study is based on the mail survey for 482 venture business in Busan city and Kyung Nam province and then the result analysis of the collected inquiries.
This study is not focused on the establishment or verification of a hypothesis but on the description of an actual state itself, and the contents of inquiry are composed of such items as the initial conditions at the time of the business founding, current management standing, and personnel situation and management.
Subject business concerns of this study are those which were initially registered under the Office of Small and Medium Industry since the special laws of venture business was enacted.
Accordingly, it is anticipated that these business housed concerned will offer valuable data and momentum for additional study in future.