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In recent years, the impact of venture capital on firm performance has received much more attention from academia. However, because data acquisition is limited, the scholars get little research results of this area, analytical framework and approaches to theory have not been formed. This paper analyzed the relationship between venture capital, corporate governance, firm capability and firm performance...
Decision model for venture capital provider and venture capitalist is established, and the effect of policy support on asset allocation and effort level of venture capitalist and the effect on asset allocation of venture capital provider is studied. The study shows that venture capitalist would enhance his effort level and venture capital company would increase the weight of investment to venture...
The research tries to investigate the relationship among firm life cycle, managerial overconfidence and capital structure. Making listed companies in China as sample, shareholding owned by manager and its variation as a proxy for the overconfidence, and company listing age as a substitute of corporate life cycle, using OLS and panel data analysis method, we make an empirical analysis on the relationship...
In recent years, with the rapid development of small and medium-sized enterprises in China, the partial enterprises have been constructed to be the new power to promote the domestic economic growth. However, due to the particularity of organization structures, corporate standards and business risks, the participation of VC and PE institutions is very important for the development of enterprises. This...
Based on investigation and collection of disclosed information of listed companies on SEM board in China, the paper studies the influence of venture capital to technological innovation in SMEs by analyzing the proportion of venture capital holding as well as the investment and yield of technical innovation in SMEs. Research showed that investment of venture capital in SMEs enabled SMEs to have more...
This paper analyzes the impact of venture capital on accounting performance of the firms, taking 66 Chinese listed companies in SME Board of Shenzhen Stock Exchange as examples. Although ANOVA and cross-section regression analysis show no significant differences of performance between venture capital backed firms and non venture capital backed firms, in a long term venture capital does show a positive...
Drawn on the experience of Griliches-Jaffe Knowledge Production Function (KPF), the paper used spatial econometric model to study the influence of venture capital (VC), the R&D expenditure of R&D institutions (RDI), large & medium-sized enterprises (LME) and institutions of higher education (IHE) on knowledge spillovers. Moran's I index shows that regional innovation has the feature of...
Global IT industry is transferring to the main-land of China in a large scale. The Pearl River Delta has become the world's important manufacturing base for electronic information products. Based on this background, this paper carried out the empirical research between the IT industry and venture capital. It studied the risk investment, IT industry and the technological innovation in the Pearl River...
Resource, opportunity and entrepreneurial experience are three key issues focused in the current entrepreneurial theory and practice continuously. Based on reviewing many literatures, this paper developed a integrated conceptual framework of the relationship between entrepreneurial experience and opportunity identification which entrepreneur resources as a medium variable and put forward five hypotheses...
As a result of the participation of venture capital, the results of scientific research can be easily transferred into commodity quickly. Risk evaluation of venture capital is essential for management decision-making. Based on the AHP method of investment appraisal to determine the risk weights, and based on grey relational analysis method to establish a model to assess the correlation of risk, this...
In this paper a mean-variance model for venture investment decision making has been developed. The model is based on fuzzy simulation method with fuzzy variable. In particular it builds upon the grounded framework. Then we can use the proposed framework to select the projects. The results of the numerical example show that the presented framework is implemented easily and is good for solving the fuzzy...
Integrating resource process has been the base for building capability of the firm and the key to achieve superior performance when facing competitive environment. Resource integration capability is regarded as a crucial factor for bridging the relation between resource integration process and venture performance. Using a contingency-theoretic perspective and resource-based view (RBV), this paper...
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