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Venture Capital Investment and the Post-IPO Performance of Entrepreneurial Firms: Evidence from the People’s Republic of China

dc.contributor.authorDi Guo
dc.contributor.authorKun Jiang
dc.contributor.authorXiaoting Mai
dc.date.accessioned2015-04-29T14:29:03Z
dc.date.available2015-04-29T14:29:03Z
dc.date.issued2015-04-15
dc.identifier.urihttp://hdl.handle.net/11540/4090
dc.description.abstractWe examine the effects of venture capital (VC) investment on the performance (measured by return on assets, return on equity, and Tobin’s Q) and growth (measured by growth of total sales and total number of employees) of entrepreneurial firms in the People’s Republic of China (PRC) after an initial public offering (IPO). Firm-level panel data analysis shows that VC investment contributes to the long-term performance and growth of entrepreneurial firms after an IPO. Meanwhile,we observe a significant and positive relationship between corporate governance of firms and VC investment. However, we do not find that experience or specialization of VC firms influences the effects of venture investment on post-IPO performance or growth of entrepreneurial firms in the PRC.
dc.languageEnglish
dc.publisherAsian Development Bank
dc.rightsCC BY 3.0 IGO
dc.rights.urihttps://creativecommons.org/licenses/by/3.0/igo/
dc.titleVenture Capital Investment and the Post-IPO Performance of Entrepreneurial Firms: Evidence from the People’s Republic of China
dc.typeReports
dc.subject.expertClimate
dc.subject.expertClimate change
dc.subject.expertClimate impacts assessment
dc.subject.expertGlobal climate change
dc.subject.expertRural Development
dc.subject.expertRural Development Projects
dc.subject.expertRural Development Research
dc.subject.expertAid And Development
dc.subject.expertAsian Development Bank
dc.subject.expertComprehensive Development Framework
dc.subject.expertDevelopment Cooperation
dc.subject.expertDevelopment Management
dc.subject.expertDevelopment Planning
dc.subject.expertDevelopment Strategies
dc.subject.adbClimatic change
dc.subject.adbClimatic influence
dc.subject.adbClimatology
dc.subject.adbInvestment bank
dc.subject.adbInvestment policy
dc.subject.adbRural areas
dc.subject.adbRural economy
dc.subject.adbRural planning
dc.subject.adbRural poverty
dc.subject.adbDevelopment potential
dc.subject.adbRural planning
dc.subject.adbAid coordination
dc.subject.adbIndustrial projects
dc.subject.adbInfrastructure projects
dc.subject.adbNatural resources policy
dc.subject.adbEducational development
dc.subject.naturalCity planning
dc.subject.naturalUrban climatology
dc.subject.naturalBank investment
dc.subject.naturalCapital investment
dc.subject.naturalInvestment banking
dc.subject.naturalVenture capital
dc.subject.naturalCommunication in rural development
dc.subject.naturalCommunication in community development
dc.subject.naturalEconomic development projects
dc.subject.naturalDevelopment banks
dc.subject.naturalEconomic forecasting
dc.subject.naturalEnvironmental auditing
dc.subject.naturalCumulative effects assessment
dc.subject.naturalHuman rights and globalization
dc.contributor.imprintAsian Development Bank
oar.themeClimate
oar.themeDevelopment
oar.adminregionEast Asia Region
oar.countryPeople's Republic of China
oar.identifierOAR-004614
oar.authorGuo, Di
oar.authorJiang, Kun
oar.authorMai, Xiaoting
oar.importtrue
oar.googlescholar.linkpresenttrue


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  • Asian Development Review
    The Asian Development Review (ADR) is a professional journal for disseminating the results of economic and development research relevant to Asia and the Pacific. Since 1983, the ADR has been an important part of the history of the Asian Development Bank and its mission to reduce poverty across Asia and the Pacific.

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