scholarly journals The Performance of Foreign Venture Capital Firms in Emerging Economies: A Study of U.S. Firms in China

2016 ◽  
Vol 11 (11) ◽  
pp. 26
Author(s):  
Xiaodan Wang
Keyword(s):  
Venture Capital ◽  
Emerging Economies ◽  
Host Countries ◽  
Institutional Perspective ◽  
Investment Performance ◽  
Country Comparison ◽  
Venture Capital Firms ◽  
Cross Country ◽  
Investment Experience ◽  
International Venture

<p>Extant research on the international venture capital (VC) firms largely focuses on cross-country comparison; only a limited number of studies have examined the internationalization of VC firms and their strategies in host countries. This study approaches the research topic mainly from an institutional perspective, and intends to understand the performance of foreign VC firms in emerging economies, a topic that has rarely been examined in previous research. Using a sample of U.S. VC firms investing in China, this study finds that U.S. VC firms with more investment experience at home have weaker investment performance in China. The empirical results also show that U.S. VC firms investing in ventures with larger top management team, staging their investments, and syndicating with other U.S. VC firms are likely to achieve better performance in China. Contrary to what was hypothesized, syndicating with Chinese VC firms decreases U.S. VC firms’ investment performance in China.</p>

A cross-country comparison of full and partial venture capital exits

2003 ◽  
Vol 27 (3) ◽  
pp. 511-548 ◽  
Author(s):  
Douglas J Cumming ◽  
Jeffrey G MacIntosh
Keyword(s):  
Venture Capital ◽  
Country Comparison ◽  
Cross Country

scholarly journals Entrepreneurship and Innovation in the Digital Economy

2016 ◽  
Vol 21 (Special Edition) ◽  
pp. 273-312 ◽  
Author(s):  
Naved Hamid ◽  
Faizan Khalid
Keyword(s):  
Venture Capital ◽  
Digital Economy ◽  
Country Risk ◽  
Monitoring And Control ◽  
Venture Capital Firms ◽  
The Government ◽  
And Control ◽  
Immense Potential ◽  
Similar Growth ◽  
International Venture

It is believed that Pakistan’s digital economy will follow a similar growth trajectory to India, but with a lag of about five to six years. This implies that the digital economy in Pakistan carries immense potential and is likely to see very rapid growth in the next five years or so. This paper provides an overview of Pakistan’s digital economy in terms of international players, successful local businesses and rising stars in different segments of the industry. We also evaluate the role played by incubation centers. The industry’s emerging financial landscape appears to be attracting international venture capital firms, which is surprising, given the country risk and monitoring and control issues that are usually seen as binding constraints to investment. However, these investors use models tested in Silicon Valley and in countries such as India to estimate the potential for increase in the capital valuation of digital businesses in Pakistan. This development has also started to attract local investors. As a result, we are seeing the emergence of a venture capital industry in Pakistan. Finally, we examine the policy environment in the country and find that the existing tax policies, which were designed for traditional businesses, could be a major obstacle to the growth of the digital economy. We conclude by recommending that the government review its tax policy in view of the different nature of digital businesses and adapt it accordingly.

How Venture Capital Shapes Emerging Bio-clusters—A Cross-country Comparison

2008 ◽  
Vol 16 (3) ◽  
pp. 441-463 ◽  
Author(s):  
Finn Valentin ◽  
Rasmus Lund Jensen ◽  
Henrich Dahlgren
Keyword(s):  
Venture Capital ◽  
Country Comparison ◽  
Cross Country
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