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Research seeks to find out CVC's contributing role to the venture business(VC) by analyzing the promoting effect on the "Technology Innovation" for the companies invested. It has analyzed the number of patent registration and amount of investment in intangible assets of the 52 companies invested by CVC for the period from Jan. 1999 to Dec. 2008. The results of research is like as followings.
First, the company has shown its growth in registering the patent after receiving the CVC's investment, which verifying the CVC's pumping-up role in technology innovation. The result supports the analysis of Kortum & Lerner(2000), Hellman & Puri(2000), McNally(1997), Ki-whan Lee and Byung-seop Yoon(2007) by proving the fact that VC's number of patent registration, which is playing a role of spreading the technology innovation.
Second, the number of patent registration of IT VCs invested by CVC was larger than that of Non-IT VCs. The result implies that the high-tech of IT VCs' plays a critical role in registering the patent comparing with Low-tech Non-IT VCs.
Third, the ratio of investment in intangible assets by the VCs has grown after receiving CVC's fund, which gives us an implication that the CVC's investment plays a stimulating role for the VCs to invest more budget into R&D so that they can accomplish technology innovation.

This paper attempts to investigate pro-cyclicality of bank loan to SMEs (Small and Medium sized Enterprises) and to LEs(Large sized Enterprises) using the aggregated and the cross-sectional data including major private, foreign, and state-owned banks in Korea over the period 1999-2008. Based on the previous related literature, it is hypothesized that bank loan to SMEs may be vulnerable to the external economic shock rather than loan to LEs. The reason why bank loan to SMEs is comparatively risky loan that shorts collateral and dependents heavily to banks in raising fund as mentioned by Berger and Udell (1994) etc. In this paper, it is designed that real GDP is adopted as a proxy for business cycle, and it is used to confirm on long-term relationship & short-term dynamics with the bank loan on the aggregated or the cross-sectional basis. The empirical tests are verified by applying of the Rolling VECM (Vector Error Correction Model) and Panel data analysis such as Panel GLS & Clustering Fixed Effect model. Some findings provide strong robust support for pro-cyclicality of bank loan to SMEs, not LEs. In addition, through reviewing short-term dynamics among 1st differential variables such as loan and GDP, it is found that there exist some evidences to support related hypotheses : the profit-oriented motivation of commercial banks in enhancing relationships with SMEs, the characteristics of governance structure in three type banks(private, state-owned, and foreign owned banks), and the large-bank barriers assumption. Therefore, bank loan to SMEs is more vulnerable to external economic shock than to LEs over the long-term even though the smaller domestically owned & private banks maintain to enhance a lucrative SMEs financing business for a short-term period. This finding suggests that credit stabilization role of Korean state owned banks to SMEs should be strengthened to prepare for the economically long slump.

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This study investigates the intensity of technology management on innovations in SMEs. There are few studies to understand management processes to transform inputs for innovations to outputs or outcomes. This paper focuses on the effects of technology management processes on performances and impediments of innovations in SMEs. Based on 336 data, the results show that technology management is important for SMEs to enhance innovation performances and reduce impediments in innovations. The intensity of market intelligence and R&D management activities contribute to increasing innovation performance and to decreasing difficulties in commercialization. R&D management and organizational commitment decrease difficulties in R&D project ution. This study suggests some practical implications and policy recommendations to help SMEs to improve technological capabilities.

This paper studies the empirical relationship of research and development (R&D), other investment of intangible asset and business performance.
The results of the study are summarized as below.
Firstly, firm size, industrial and IPO shape were found to have positively significant impact on Employment, Sales, market capitalization, intangible asset. But the firm age was found to have no significant impact on Employment, Sales, market capitalization and intangible asset.
Secondly, R&D expenditure and educational & training expenses were found to have significant impact on Employment, Sales, market capitalization, and intangible asset. Advertising costs was found to have no significant impact on Sales. But to have significant and influence on Employment, market capitalization and intangible asset.
We propose some explanations about the cause of that. But, more specific discussions has not be done.

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This study reviews business networking by multinational corporations (MNCs) in the Chinese
automobile industry from the perspective of internationalization process. We examine how three
factors importantly treated in the literature of internationalization process – entry strategy, entry
timing, and headquarters-subsidiary relationship – have affected MNCs’ speed of business
networking in a foreign market, particularly in an emerging market. The experiences of three
MNCs illustrate that entry strategy, entry timing, and headquarters-subsidiary relationship are
related to MNCs’ learning and commitment-building, which influence on business networking
between MNCs and the key business actors in a given international socio-political context. Our
cases also show that entry strategy and headquarters-subsidiary relationship, however, tend to
generate multi-dimensional and even conflicting effects on MNCs’ speed of business networking.
In addition, while early entry offers certain advantages, we have found that the effects of entry
timing on speed of business networking are mixed.

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In this research important issues were whether women and men are different in the traits of starting up a business and in the attitude of business. The survey sample questionnaires were collected from two groups. One group of people had business experience and the other group had no business experience. The research was focused whether gender affected to one's attitude toward business and desire to start up a business, and tried to find out other factors that affect on the intention of start up businesses.
The result of the study was as follows. First of all among the people who had business experience there were no meaningful statistic differences in business related characteristics between women and men. However, among the people who had no business experience there were some statistic differences in the attitude toward business and the business related traits. Women had lower level of social risk recognition on business than men. Also they had a negative attitude on business and showed lower recognition level for business failure. However, after the failure of the business, for the treatment system of business women had a positive way of thinking than men. Generally female had lower entrepreneurial intention than male.
Second, in this survey majority of female business women were doing their business on service industry. On the other hand many of the male businessmen were doing their business on construction business and manufacturing industry. Female businesswomen's average total sales were KRW 1,500,000,000 but male businessmen's average total sales were KRW 5,500,000,000. Also female businesswomen had lower paid in capitals, loan amounts from financial institutions, and guaranteed-debt amounts from credit guarantee institutions than male businessmen.
Third, usually males had positive attitudes toward businesses. However, once they have business experience, they showed negative attitudes toward business. Men's entrepreneurial intention was higher than women's. Parents' business experience had positive impacts on their descendents. People who have a direct business experience showed lower entrepreneurial intention than people who had no past business experience.

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It is well-known that forward trading has a pro-competitive effect in duopoly. (Allaz and Vila, 1993) This paper extends the model of Allaz and Vila (1993) by considering an n-player case. From this approach, we derive the following implications. First, allowing competitive forward trading has a greater effect on competition among producers than encouraging competitive entry in both linear and quadratic cost cases. In addition, this paper extends the model of Allaz and Vila (1993) by considering not only substitutes competition (Cournot game) as in Allaz and Vila (1993), but also complements competition (Nash game). Nash price competition analysis for (perfect) complements also shows that allowing forward trading should lead to a substantial expansion in the supply of final goods.
Finally, we consider the possibility of implicit collusion among oligopolistic producers. In contrast with Liski et al.(2006), we derive the more simple conclusion that forward trading plays a role of threatening to punish and promoting collusion in a multiperiod Allaz-Vila game.

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The aim of this study is to investigate the consultant's competency and establish the competency model for consulting services. We derive twenty consulting competencies from previous studies and then eighteen competencies needed to perform consulting services based on job analysis. Eighteen competencies are categorized into three groups, namely: task-related competency, managerial competency and common competency. Using AHP method, we can probe ten core competencies which consultants consider more importantly than other competencies and establish the consultant's competency model which consists of eight basic competencies and ten core competencies. In this study, it is revealed that task-related competency is the most important among three competency groups and there are some differences between the core competencies for small business consulting and large business consulting. For example, consultants specialized in small business consulting consider that 'the expertise' and 'drive(initiative)' are more important than any other competencies. In contrast, consultants specialized in consulting to large businesses or government agencies consider that 'professional ethics' is the most important competency among common competency. This study is expected to provide practical implications for consultants training and education system.