*

The purpose of this research is to examine the relationships between family influence, as measured by the F-PEC scale of Astrachan, etc(2002), Klein, etc(2005), and performance. The F-PEC scale constitutes power, experience, and culture. This research is exploratory research to test relationship between F-PEC and performance.
The results of this research indicate that: there is a direct relationship between ownership of power and net income of performance, there isn't a positive relationship between generation of ownership and number of contributing family members and net income of performance, there is a positive relationship between passion and attitude of family members and performance. It also discussed some theoretical and practical implications of these results.

Using in-depth case analysis of two companies, this paper examines the effect of social capital on firm performance in direct selling business of functional food industry. The two companies are superficially similar, but from the social capital perspective, they are quite different. The difference of two companies in terms of three dimensions of social capital such as structural, relational and cognitive dimension, made a sharp effect on performance measured in number and productivity of agent and salesperson.

This study empirically examines the intangible asset valuation approaches used in the process of online game license agreements. During the 2001~2004 period, fifteen Korean online games published in China under license agreements are used as samples.
Smith and Parr(2000) argue that the appropriate valuation approach used for game software is the income approach. Contrary to their argument, Korean developers marginally prefer the market approach while Chinese publishers, the income approach. In addition, at the earlier time, both parties used the market approach more than they used it at the later time. In particular, at Korean party the earlier time heavily depended on the market approach(84%) whereas Chinese party at the later time also heavily depended on the income approach(88%). It is due to the information asymmetries between the two parties about prospects of Chinese game market. It is concluded that the contents and quality of information obtained by licensors and licensees play an important role in ing the intangible valuation approaches.

The purpose of this article is to test the hypotheses theoretically derived from Lee and Venkataraman(2001, 2006)’s entrepreneurial decision making model and work motivation theories in management. By applying Nobel laureate Kahneman’s prospect theory in analyzing entrepreneurship, entrepreneurial decisions can be modeled as a function of entrepreneurs’ aspirations and their market offering opportunities. In this article, by applying work motivation theories to the entrepreneurial decision making model, we develop the following hypotheses regarding the relationships between entrepreneurial decisions and real wage levels. First, the probability an individual starts her own business(or, the rate of entrepreneurship) tends to be inversely proportional to the real wage level she can get from her best job opportunity. Second, the rate of entrepreneurship tends to be correlated with the second power of the real wage levels. Using longitudinal regression analysis techniques, we test and confirm the above hypotheses. In order to promote entrepreneurship, in addition to satisfying basic economic needs and requirements, developing various programs that can help entrepreneurs satisfy higher level of needs and desires would be necessary. This article also provides a theoretical micro-foundation for understanding the relationship between rates of entrepreneurship and real wage levels of non-entrepreneurs.

In this paper, we study empirically adjustment speed and determinants of capital structure of small and medium firms listed on Korea Securities Market and Kosdaq Market. The main results of this study can be summarized as follows.
Partial adjustment model of capital structure indicates that firms have long run target leverage, and that small and medium firms adjust partially the gap between actual and target leverage each year.
Capital structure variables suggested by the tradeoff theory explain mainly adjustment speed of leverage, but capital structure variables suggested by pecking order, market timing, initial growth status, and inertia theory explain also partially adjustment speed of leverage. So to speak, capital structure variables suggested by the tradeoff theory have effects on adjusting behavior toward target leverage with capital structure variables suggested by pecking order, market timing, initial growth status, and inertia theory. If capital structure variables suggested by the tradeoff theory as well as pecking order, market timing, initial growth status, and inertia theory are involved in the partial adjustment model, adjustment speed of leverage of small and medium firms decrease from 0.546 to 0.239. Adjustment speed of leverage of small and medium firms listed on Kosdaq Market is faster than that of small and medium firms listed on Korea Securities Market.
Conclusively, capital structure variables suggested by the tradeoff theory as well as pecking order, initial growth status, and inertia theory appears to have impact on adjustment speed of capital structure of small and medium firms listed on Korea Securities Market and Kosdaq Market.

It is necessary to adopt various research methods with a view to both suggesting the managerial disciplines for SMEs operations and creating the related knowledges for performance enhancement in SMEs. However, academic researches on Korean SMEs have been mainly uted with the aid of quantitative statistical method. If researchers choose and depend on the quantitative statistical method exclusively, it may reveal some inescapable limitations, if rigid, in designing research plan and interpreting research consequences. So, it is plausible to argue that quantitative statistical method, which is nothing if not, needs to be complemented by case study method, which is aided by qualitative analysis, so as to make some methodological improvement in the field of researches on Korean SMEs. According to the results of analysis about existing literatures published in Korean Small Business Review during the latest 5 years 2003～2007, it was uncovered that there have been only a few researches which adopted case-based analysis as a main research instrument. Moreover, although those researches adopted case-based method, it is not easy to acknowledge that they followed substantially case study procedures as generally-accepted scientific research method. In order to unravel some questions from up-to-date research trends on Korean SMEs, (ⅰ) potential benefits of case-based research on SMEs, (ⅱ) substantial procedures of case study as scientific method, and (ⅲ) implications for future research on Korean SMEs were proposed in this paper.