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

Younghoon Kim, Yeonbae Kim and Jeong-Dong Lee ()

No 200918, TEMEP Discussion Papers from Seoul National University; Technology Management, Economics, and Policy Program (TEMEP)

Abstract: 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.

Keywords: Corporate Venture Capital; Intermediate-goods Firm; Financial Sources; Vertical Value Chain Linkage (search for similar items in EconPapers)
JEL-codes: G24 G38 L14 (search for similar items in EconPapers)
Pages: 23 pages
Date: 2009-09, Revised 2009-10
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Published in Wiley-Blackwell, Asian Economic Journal (later version of this paper)

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Journal Article: Corporate Venture Capital and Its Contribution to Intermediate Goods Firms in South Korea (2011)
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