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International Entrepreneurship and Management Journal
Published in: International Entrepreneurship and Management Journal 1/2018

05-07-2017

Venture capital and entrepreneurship: a conceptual model and research suggestions

Authors: Wentao Gu, Xuzheng Qian, Junpeng Lu

Published in: International Entrepreneurship and Management Journal | Issue 1/2018

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Abstract

This paper discusses the relationship between entrepreneurship, as an important factor to enhance the competitiveness of enterprises, and venture capital (VC) in the context of China which has an emerging and immature market with high proportion of state-owned capital, imperfect legal system, inexperienced investors, and wrong market orientation. According to the exsisting literature and the development of Chinese VC industry, the conceptual framework we propose has five main elements: characteristics of VC, contextual issues in China, the meaning of the entrepreneurship, influence mechanism, and outcomes, including the change of entrepreneurship at individual and firm level as well as region and industry level. In addition to taking into account the selection preference of VC, two-sided moral hazard problem, and the special situation of Chinese market, the authers provide three suggestions for further empirical research to identify the effect of VC more precisely.
previous article Fuzzy-set qualitative comparative analysis (fsQCA) in entrepreneurship and innovation research – the rise of a method
next article Innovation resources integration pattern in high-tech entrepreneurial enterprises

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Footnotes
1
Zero2IPO Research Center, under the flag of Zero2IPO Group, has been committed to providing professional information, data, research and consulting services for limited partners, VC/PE firms, strategic investors as well as government agencies, law firms, accounting firms, investment banks, research institutions, etc. Since 2006, Zero2IPO Research Center has been surveying private equity funds in Chinese mainland on a large scale and producing professional reports accordingly.
 
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Metadata
Title
Venture capital and entrepreneurship: a conceptual model and research suggestions
Authors
Wentao Gu
Xuzheng Qian
Junpeng Lu
Publication date
05-07-2017
Publisher
Springer US
Published in
International Entrepreneurship and Management Journal / Issue 1/2018
Print ISSN: 1554-7191
Electronic ISSN: 1555-1938
DOI
https://doi.org/10.1007/s11365-017-0463-6

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