This study examines the effects of several features of government‐managed, sponsored venture capital (VC), and private VC funds on overall VC investments in new technology‐based firms (NTBFs) during two developmental stages (i.e., growth and restructuring) in South Korean VC market and suggests hints for designing effective government VC programs. Our results from data on 463 funds in the period 1995–2005 indicate the factors bearing a positive effect on VC investments targeted to NTBFs. Such factors are the fund specialization focusing on certain industrial sectors, performance‐sensitive compensation for venture capitalists in private and government VC funds.

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Compared to legacy frequency hopping communications, future radio communications are required the secure and high data rate, ad-hoc network communication. In this paper, we have designed the network communication structure on the frequency hopping mode, and analyzed the performance of synchronization on the frequency hopping network radio systems. The design results are shown the initial sync. phase of approximately 9 hops and the traffic packet phase of approximately 30 hops. Also, we have simulated the performance on the communication conditions which are carrier bandwidth of 50kHz, user data rate of 64kbps and OQPSK modulation scheme in AWGN. In the simulation, we analyzed the correlation and the performance of synchronization success. The result of simulation show 99% probability for synchronization success at E b /N o -4dB.

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