How to Design Public Venture Capital Funds: Empirical Evidence from South Korea

Sojin Lim and Yeonbae Kim

Journal of Small Business Management, 2015, vol. 53, issue 4, 843-867

Abstract: This study examines the effects of several features of government‐managed, sponsored venture capital (), and private funds on overall investments in new technology‐based firms () during two developmental stages (i.e., growth and restructuring) in outh orean market and suggests hints for designing effective government programs. Our results from data on 463 funds in the period 1995–2005 indicate the factors bearing a positive effect on investments targeted to . Such factors are the fund specialization focusing on certain industrial sectors, performance‐sensitive compensation for venture capitalists in private and government funds.

Date: 2015
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DOI: 10.1111/jsbm.12109

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