Corporate Venture Capital and Its Contribution to Intermediate Goods Firms in South Korea
AbstractSet by government, corporate, financial, and individual sources, venture capitals(VCs) in South Korea adapted themselves to a new and uncertain VC market through stand-alone as well as syndicated investments. This study raises questions about whether the various financial sources differentially preferred and contributed to their portfolio firms even during the market boom in 2000. Even though there was no single capital source to show better performance, only corporate VCs are found not only to prefer, but also to contribute to intermediate-goods firms. This result can be based on the unique role of corporate VCs to make use of vertical value chain linkage for their investment.
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Bibliographic InfoArticle provided by East Asian Economic Association in its journal Asian Economic Journal.
Volume (Year): 25 (2011)
Issue (Month): 3 (09)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=1351-3958
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Other versions of this item:
- Younghoon Kim & Yeonbae Kim & Jeong-Dong Lee, 2009. "Corporate Venture Capital and Its Contribution to Intermediate-Goods Firms in South Korea," TEMEP Discussion Papers 200918, Seoul National University; Technology Management, Economics, and Policy Program (TEMEP), revised Oct 2009.
- G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
- G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
- L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation
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