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Corporate Venture Capital and Its Contribution to Intermediate-Goods Firms in South Korea

  • Younghoon Kim
  • Yeonbae Kim
  • Jeong-Dong Lee

    ()

    (Technology Management, Economics and Policy Program(TEMEP), Seoul National University)

Set 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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Paper provided by Seoul National University; Technology Management, Economics, and Policy Program (TEMEP) in its series TEMEP Discussion Papers with number 200918.

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Length: 23 pages
Date of creation: Sep 2009
Date of revision: Oct 2009
Publication status: Published in Wiley-Blackwell, Asian Economic Journal (later version of this paper)
Handle: RePEc:snv:dp2009:200918
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