학회지
중소기업연구
JSBI
학회게재논문
 
학회사무국
벤처경영연구4권1호 (2001년 03월)
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The Development Path of an Internet Venture:The Case of Internet Auction Company, Ltd.
[Abstract]
This case describes key development challenges patterns as experienced by Internet Auction Company, Ltd. from the startup stage through IPO to the sale to eBay. In 1997, Mr. Hyuk Oh saw a business opportunity in the Internet allowing two-way communications. Around that time, the success stories of eBay Onsale in the United States were good stimuli to his startup of an auction site. He opened the Website in April 1, 1998 after four months of development efforts. While experiencing financial difficulties due to the lack of initial acceptance of Internet auction, Mr. Oh finally succeeded in raising 2 billion wons from Will-bes Company. By May 2000, Internet Auction Co. had 950,000 registered members, reached the average rate of 185,000 transactions per day. Currently an eBay company, Internet Auction Co. continues to pursue new auction systems substitute distribution systems for the future with a renewed entrepreneurial spirit.

The Performances of Korean Venture Capital
[Abstract]
This study analyses Korean venture capital industry to find out characteristics of risks and to evaluate investment performances of Korean venture capital. The results show that Korean venture capitals have larger unsystematic risk than systematic risk, which implies they specialize in specific business and/or regional areas instead of diversification. The Sharpe measure and Jensen measure reveal that the performances of Korean venture capital are very low relative to even the market portfolio and stock beneficiary certificates.
Effects of Networking Activities on Venture Business Performance
  • - Weon Jong Ha ()
  • - Lee Do Hwa ()
[Abstract]
This study aims to analyze the effects of networking activities on venture business performance. Specifically, this study proposed and tested the hypotheses that the range and intensity(frequency, trust) of networking activities have positive relationships with venture business performance.
In order to test the hypotheses, this study surveyed 435 firms registered as venture businesses in Pusan, Ulsan, and Kyungnam regions in Korea about networking activities and other firm and founder characteristics. Ninety questionnaires were returned and used for analyses.
The regression analyses results showed significant positive relationship between internal competency and performance. Also, trust with networking sources turned out to be positively related to firm performance, while the relationships between range and frequency of networking activities and performance were nonsignificant. When trust with each networking source was separately related to performance, 6 sources -- accountants, research institutions, universities, government ministry, SMIPC, and customers and suppliers-- turned out to be significantly related to firm performance.
Implications and limitations of this study and future research directions are discussed in the conclusion.

An Exploratory Study on the Determinants of Management Performance to Venture Business
  • - Young-BaePark (semyung university)
  • - Chang-Seok Yoon (semyung university)
[Abstract]
This study investigated impacts of the characteristics of entrepreneur, environment, competitive strategies, and organizational characteristics on the performance of venture business. For empirical data for this study, 101 leading venture business written in Economist and 349 companies registered in Small & Medium Business Administration(SMBA) are sampled and surveyed as subjects. And the valid qusetionnaries being recollected totaled to 91. The factor analysis, cluster analysis, multiple regression analysis, one-way ANOVA, and T-test were used for the data analysis.
The results of this study indicate that the performance of venture business is determined by characteristics of entrepreneur(need for achievement, motivation and age of entrepreneur), environmental characteristics, competitive strategies, and organizational characteristics(task autonomy). These results also indicate that the key elements play a major role in the performance of Korean Venture business. Theoretical and practical implications of these results were discussed in the conclusion.