벤처기업 경영투명성 수준의 영향요인에 관한 실증연구

다국어 초록 (Multilingual Abstract)

The international financial crisis revealed the significance of transparency and accountability. After IMF bailout program of 1997, management transparency issue has been vigorously discussed and debated in both academia and business world in Korea. Following IMF, we defined managment transparency as a process by which management information about business activities is made accessible, visible and understandable. To investigate the determinants of the level of management transparency in Korean venture firms, a model is developed and analyzed. For this purpose, we developed four sets of hypotheses: Top management characteristics, resource dependence and organizational power perspective, rational expectations, and institutional legitimacy hypotheses. We collected from 98 Korean venture firms out of 750 member firms of the Korean Venture Firms Association. The results showed that all hypothesis sets were (partially) supported. Especially, the institutional legitimacy hypotheses were more strongly and consistently supported by the data thatn the rational expectations hypotheses. Some public policy and practical implications were derived.