창업투자회사의 경영성과 분석

Abstract

A venture may be defined as a project prospective converted into a process with an adequate assumed risk and investment, and venture capital is financial capital provided to early stage, high potential growth startup companies. Private equity investments began to emerge marked by the founding of the first two venture capital firms in 1946. One of the first steps toward a professionally-managed venture capital industry was the passage of the Small Business Investment Act of 1958. While the substantial developments in venture capital have made progresses practically after the SBI act and ventures face an increasingly various set of funding sources, the academic researches on this industry are not very filling due to scarcity of data on venture capital. This paper investigates the business analysis using Venture Capital's financial information and analyze the effect of venture capital investment and profitability by implementing the parametric test and the multi-regression analysis on the basis of the venture company DB and its financial data. The major results of this study are as follows. I classify the sample into two groups: the high-evaluated venture firms and low-evaluated firms. The positive influence of fund investment of venture capital moderates the information asymmetry between investors and venture capitals to improve the corporate value of the venture capital firms. The investment decision and management system of venture capital should be strengthened by quality to that of global venture capital firms.