 |
|
|
|
- Song Kyoung-Mo (SK Securities)
- Bahn Sung-Sik (Jinju National University)
- Kim Sung-Tae (National Information and Credit Evaluation Inc)
|
[논문다운받기]
|
|
|
 |
This study derives financial models from the expert-driven credit ratings for ventures in Korea and compared it with that of large corporates. The data used here were the venture credit ratings of 2001 and the valid ratings of large corporates as of at the beginning of 2006, which were provided by NICE, a Korean credit rating agency. Existing credit rating models for large corporates is not fit for ventures and statistical credit rating models of small-and-medium-sized firms without consideration of experts’ knowledge may raise some judgment errors. In evaluating start-up ventures, the roles of financial variables are often considered insignificant and too many focuses are put on qualitative factors.
This study shows that some significant financial models can be derived for ventures using a small of number of variables, even though their financial performances are weak and irregular. The variables discovered in ventures differ greatly from those of large corporates. Only size-related variable is commonly discovered in both the two areas. ROIC and investment assets were important for ventures, and several variables related with debt-structure and profitability were significant for large corporates. |
 |
|
|
|
|
|
- Chi Sung-Kwon (Pusan National University)
- Kim Suk-Jeong (Pusan National University)
|
[논문다운받기]
|
|
|
|
This paper examines the determinants of the non-financial performance measures that venture firms use for the purpose of internal control and planning. We use data collected from survey questionnaire. Specifically, we empirically investigate how venture firms’ characteristics such as R&D strategy of venture firms, investment of venture capitals, and development stage of venture firms affect the use of non-financial performance measures.
The results of this paper are as follows:
First, venture firms in the early stage give more weight to the non-financial performance measures as compared to the venture firms in the later stage.
Second, The venture firms that adopt innovation strategy in R&D and are financed by venture capitals use non-financial performance measures more heavily than other venture firms. |
|
|
|
|
|
|
- Kim Yeon-Bae (Seoul University)
- Lee Seong-Hoon (Hana Institure of Fianace)
- Kim Young-Hoon (Seoul University)
|
[논문다운받기]
|
|
|
|
| Venture capitals are not homogeneous, but heterogeneous. Classifying them into individual, public, corporate, financial and mixed venture capitals according to their source of fund, this study verifies whether their financial sources induce distinctive patterns in selecting invested targets and deciding the amount of investment, and how these patterns have been changed as time goes. Even though investment patterns by each type of venture capitals were diverse in the period from 1999 to 2001, the results were not identical with the expectation based on previous studies. As another main finding, however, the diversity came to disappear in the period from 2002 to 2004, showing that compared to individual venture capitals, all other types such as public, corporate and financial venture capitals turned to be risk-averse. Finally, the result of current study requires more attention to and mediation for these venture capitals as primary source of fund in venture capital industry. |
|
|
|
|
|
|
- Chung Dae-Yong (Soongsil University)
- Yoo Bong-Ho (Soongsil University)
|
[논문다운받기]
|
|
|
|
The challenges facing a new enterprise establishment especially with a satisfactory business performance in the competitive marketing industry environment are escalating while the creation of a market oriented business profit is essential. In this regards, Peter F. Drucker previously asserted that even though material resource management of the industry is principal, the intangible resources such as entrepreneurship and marketing innovation strategies are the antecedental key to a success of the business performance in terms of industry management.
This research focused on identifying effects, resulted from two determinants of the organizational effectiveness and business performance. Toward this end, this research has covered 120 empirical survey results from CEOs at 36 small & medium-sized enterprises of pharmaceutical and medical device companies.
From this research, the risk sensibility of the entrepreneurial orientation has effected on organization effectiveness(organizational formality and centralization), and the competition-focused commitment has made significant impacts on business performance(sales growth rate, ROI, business profits compared to competitors). Secondly, inter organizational collaboration of the market orientation has significantly impacted on the organization effectiveness while competition-focused orientation was important determinant to the business performance compared to profits of other business competitors. Furthermore, costumer-centered orientation was emerged as the important determinant to both of organizational effectiveness and business performance. |
|
|
|
|
|
|
- Park Mi-Suk (Seoul University of Venture &)
- Yang Hae-Sool (Hoseo Graduate Shool of Venture)
|
[논문다운받기]
|
|
|
|
Environmental contaminations that are warming, ozone layer destruction and endocrine disruptor emission are to be serious not only in our country but in the earth. Currently the central and local government s construction companies and orders the environmental facility by receiving competition. In the process too much price competition, indistinct evaluation standard of scenery and inhabitant- friendly facility concept and lack of understanding of the importance are presented the point at issue to improve immediately.
This thesis is purposed to find a way to overcome the resistance on the basis of the causes and the cases analyzed and a solution to frame a government policy and to establish examination basis.
We emphasized founding perfect prevention facilities first to improve the image of unwanted facility from the result of question investigation and researched new related techniques.
Also, we concluded that advanced process and inhabitant’s confidence are prior to the other solutions to decrease the resistance against the location of the facility. We focused applying the facility to inhabitant-friendly space, conversing the unwanted image by informing and educating and making symbols. We studied the role as land mark for the area, the construction drawing considering a view of nature and the landscape planning and the management that are eco-friendly and resident-friendly.
Also, we introduced the concept of environmentally sound and sustainable development(ESSD) and tried to find a fundamental solution to be an affirmative facility to the people of the region. |
|
|
|
|
|
|
- Kim Jung-Woo (HRD Service of Korea)
- Kim Jong-In (Konkuk University)
- An Jun-Mo (Konkuk University)
|
[논문다운받기]
|
|
|
|
The purpose of this study is to examine human resource development supporting policies for Korean small and medium enterprises based on the system approach. In small and medium enterprises, are quite fluctuating the social positions, organizational forms, operating systems. and the quantitative and qualitative levels of manpower. Thus it is important to understand the above mentioned human resource and or development systems and then apply rigorous policies to these companies in order to upgrade their human resource development systems.
By analyzing basic factors for the small and medium enterprises’ studying systems and examining the “Best Human business” cases, this study provided major policy implications for the systematic developmental plans for the enterprises. |
|
|
중소기업연구
