벤처기업의 매출구조 및 환율변동이 경영성과에 미치는 영향

초록

This study examined the effect of sales structure of venture firms on financial situation and the performance. Also this study tested the effect of exchange fluctuations on the performance of sales structure of venture firms. Samples are consists of 4,954 venture firms－year observations for the period of year 2007 to 2010. According to the result, sales and profits of business－to－world (B2W) venture firms are the far higher than those of others. On the other hand, sales and profits of business－to－government (B2G) venture firms are the lower than ever. In addition, sales of business－to－business (B2B) venture firms are higher than those of business－to－consumer (B2C) venture firms. However, profits of business－to－business (B2B) venture firms are lower than those of business－to－consumer (B2C). Meanwhile, an increase(decrease) in the exchange rate impacts negatively(positively) on net income to sales ratio of B2W venture firms, return on assets (ROA) of B2B, B2C, and B2W venture firms, and return on equity (ROE) of B2B venture firms. The results of the study provide implications as follow. It is necessary to supervise fair trade between venture firms and first and second vendors. This study propose that it is essential to promote the policy hedging foreign currency risk in order to support B2W venture firms.

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