유통업 혁신 성장 벤처기업 확인⋅인증 평가 정보의 유용성

Abstract

Purpose: This study aims to promote investment in distribution ventures for the distribution industry in Korea, induce more innovative and efficient management activities, and examine innovative growth companies among the types of venture business identification and certification that can serve as a basis for sustainable growth and development. Finally, through the analysis of the difference in stock excess returns, whether or not the venture company confirmation/certification evaluation index can be used as useful information. Research design, data, and methodology: In order to achieve the purpose of this study, 130 companies that have undergone due diligence for venture confirmation by the Ministry of SMEs and Startups among innovative growth venture companies belonging to the distribution industry were analyzed. A multiple regression analysis was conducted by inputting the evaluation score of innovative growth venture companies. In addition, average excess return analysis is conducted through event studies. Results: First, the higher the human resource competency, the higher the evaluation score of innovative growth venture companies. Second, the higher the competitiveness of products and services, the higher the evaluation score of innovative growth venture companies. Third, it was confirmed that the higher the risk response ability, the higher the evaluation score of innovative growth venture companies. Finally It was found that investors in the Korean stock market make investment decisions by reflecting the evaluation scores of venture companies confirmed and certified. Implications: It is necessary to improve the evaluation index considering the characteristics and reality of the distribution industry and prepare an application plan. Venture companies in the distribution field should also be encouraged to secure high-level innovation, professional ability, creativity, and entrepreneurship.