- P-ISSN 1738-656X
한국개발연구. Vol. 27, No. 1, June 2005, pp. 123-156
https://doi.org/10.23895/kdijep.2005.27.1.123
Strengthening the competitive edge of SMEs has become one of the most important economic issues in Korea as the bipolarization between large firms and SMEs has deepened. Accordingly, small innovative firms (referred as 'venture firms' in Korea) attract keen attention both from policy makers and academia. Also, we can sufficiently observe how the growth environment for venture firms has evolved, since it has been almost ten years after the Korean government started its support policy for venture firms. Considering this, now is the appropriate time to carry out an analysis of venture firms. From this point of view, this study looks at growth factors for venture firms to draw out policy implications. The empirical analysis shows interesting results. Firms with the following features all showed higher growth rates: firms with high R&D intensity, younger firms, bigger firms, firms using more policy loans, and firms located within and around the Seoul region. However, the empirical analysis has some limitations. The data used in the study is limited in terms of firm information and so there are some insufficiencies. Thus it is of great importance to compile the required data on firms to enable further in-depth studies.
혁신(Innovation), 성장(Growth), 초기투자(Early Stage Investment)
L19, L52, C21