It has been 10 years that the venture policies for research institute based entrepreneur was implemented. We could find several problems of them, and make some suggestions to be able to facilitate venture creation of researchers or university professors. Venture creation of researchers or university professors has been decreasing from 2002, because of the unbalance of supportive laws and the climate of the universities in Korea. Also it has bothered the venture creation of researchers or university professors that Korean venture ecological system had no exit system and clusters with strong tight network in local communities. We should suggest several implication of new venture policies for venture creation of researchers or university professors.
Key word : Governmental policies for venture creation of researchers or university professors in Korea

This study analyzed the main effect on organizational commitment of organizational justice factors and the moderating effects of size variable on the relationship of three justice factors(distributive justice, procedural justice, and interactional justice) and organizational commitment. Hypotheses were tested by surveying 585 employees of Dae Gu and Kyung Buk region.
Results of regression analysis indicated that all three justice factors had a significant positive effect on the organizational commitment, and especially, procedural justice and interactional justice had a more significant effect than distributive justice. Distributive justice of three justice factors only had a moderating effects of size variables on the relationship with organizational commitment.
These results suggest following important implications. First. all three justice factors are essential to enhance the level of organizational commitment in both big and medium-small size company. Second, especially, employees of the medium-small size company is more sensitive to the distributive justice than employees of big-size company. Therefore, managers of medium-small size company should pay particular attention to managing the distributive justice.

This study is to identify the effect of information of deferred income taxes to KSE and KOSDAQ enterprise stock price. This study estimate deferred income taxes affect on firm stock using Ohlson model actual proof analyze. Generally deferred income taxes is realizable and value relevance. That is, deferred income taxes recognize the Assets and liability. So this study estimate deferred income taxes effect. The sample consists of KSE and KOSDAQ firms listed on the Korea Stock Exchange with a deferred tax assets and deferred tax liabilities. For the empirical aspects, relationship between deferred income tax and value of companies showed significance level of 1%. And separating net deferred income taxes deferred tax assets are positive and deferred liabilities are negative significance level of 1%.
The results show that deferred income tax account support to present GAAP. In other words, investors recognize deferred income taxes useful information.

This study is to analyze the relation between Medium and Small Firm's Environmental Variables, Cultural Difference and Utilization of Balanced Performance Information. We achieve the this purpose, First factor analysis and cronbach α test were conducted, and then through the cluster analysis three cultural types were identified. Finally We conducted Kruscal-Wallis test and Mann-Whitney test.
The results of this study are as follow;
In case of firms which have the higher uncertainty, balanced performance information are more highly provided. And, In case of firms which have the higher innovative and supportive cultural characteristics(Group 3), Balanced Performance Information are more highly provided.

This article provides a LISREL-based structural model of the effects of external political-economic forces on small medium firms’ managerial interpretations and intentions of the industrial use of GMOs in Korea. The results show that consumer acceptance has a positive influence on only firms' intention, and market attractiveness has a positive influence on both firms' managerial interpretation and intentions of the industrial use of GMOs. The implications of this article's result are followings. One significant implication is that securing the profits from the industrial use of GMOs is based on social consensus. The second implication is that market conditions having the possibility of creating profits are necessary conditions for performing the policy to facilitate the industrial use of GMOs. This article's limitation is the sample size, 218 firms, which limits our ability to draw implications for each industry. In the light of some existing studies, social acceptance of biotechnology applications is different for each industry. For this reason, further research needs to investigate the interpretations and evaluations of possible opportunities to be come from GMOs in the context of individual industries and firms.

This study examines the difference of stocks price reactions to the uncertainty opinion about going concern by external auditors between the companies listed on the KSE(Korea Stock Exchange) and the companies listed on the KOSDAQ.
The sample consists of 108 delisted companies due to bankruptcy during the period from March 1, 2000 to February 28, 2005. These companies are divided into the companies which contain the uncertainty opinion about going concern by external auditor and the others.
The empirical results are as follows. On the audit opinion disclosing date, the companies in KOSDAQ Market which has the uncertainty opinion show significant negative average abnormal return(AR) and cumulative average abnormal return(CAR). This result means the uncertainty opinion has the incremental information contents and usefulness in KOSDAQ Market. But in KSE, uncertainty opinion has no significant effect on the stock return. Also the results of the regression analysis show the significant linear relationship between the uncertainty opinion about going concern and cumulative abnormal return in KOSDAQ Market.
Our results also indicate that the uncertainty opinion about going concern by external auditors has differential information contents between the Markets and therefore it is necessary to differentiate auditor's responsibility between the Markets.