[Abstract]
This paper raises important questions about what the main determinants in international
new venture. The aim of our empirical study is to identify international new
ventures from two points of view, foreign direct investment and export. We describe
the main independent variables: years of operation, industry, foreign ownership, firm
type, firm size, and ownership type. This empirical study is designed to determine
what independent variables impact on international new venture in terms of foreign
direct investment and export.
Our sample is based on samples of 53 firms listed in the 2005 Human Capital
Corporate Panel (HCCP) of Korea Research Institute for Vocational Education and¡¡
Training (KRIVET) data.
Our empirical results suggest that the main determinants are foreign ownership,
industry, and years of operation in case of international new venture as to foreign
direct investment. We report our findings that international new venture as to foreign
direct investment shows the characteristics of firms with no foreign ownership, service
industry, and longer years of operation. Furthermore, we find that the key determinants
are industry and foreign ownership in international new venture regarding export.
This findings suggest that international new venture regarding export shows the characteristics
of firms with service industry and no foreign ownership.