Venture Capital in China: Development, Confidence, and Lessons

Mark V. Cannicea , Cathy Goldberg, Ling Ding () and Mark V. Cannicea , Cathy Goldberg, Ling Ding

No 10471, Economía, Gestión y Desarrollo from Universidad Javeriana - Cali

Abstract: The venture capital industry in China is in a formative stage with an evolving set of governmentregulations to respond to and new metrics to adopt. Through this development process, the confidence that venture capitalists possess in the high-growth entrepreneurial environment in China is critical as it provides a platform from which future fund-raising and investment decisions are made. While China´s rapid economic growth is driven, in part, by its entrepreneurialexpansion and the development of its venture capital industry, there has not before been a systematic study of venture capitalist (VC) confidence in China. We began tracking the confidence of venture capitalists in China each quarter in Q2 2005. In this report we explore the practical and theoretical relation that Chinese VC confidence has to other aspects of the Chinese entrepreneurial environment. We found that changes in China VC confidence tend to precede changes in the Shanghai Index in the same direction; they also tend to precede changes in the NASDAQ Index in a similar manner. Based on these discovered relationships we offer theoretical and managerial contributions to the stream of venture capital research in China and a discussion of potential lessons for the development of venture capital in other regions.

Keywords: Capital riego; China; Inversiones (search for similar items in EconPapers)
Pages: 18
Date: 2012-12-27
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