Keywords: IT clusters, information technology, Teheran Valley, cluster characteristics, cluster types, firm performance, Korea, innovation, industrial clusters
Cluster characteristics and corporate performance: a case study of IT clusters in Korea
In this paper, we examine the nature of relationships existing between characteristics of a cluster and performance of its member companies, and whether and how these relationships vary depending on the type of cluster. This study was conducted on 1000 companies operating in two Korean IT clusters, Teheran Valley and Daedeok Valley; the former is a spontaneously formed cluster and the latter a planned cluster. The results indicate that a significant disparity exists in the relationship between cluster characteristics and firms' performance according to the cluster types.