Abstract
Development and innovation of science and technology are a source of inexhaustible power for a country and nation to flourish.
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Notes
- 1.
It is controversial whether government participation (mixed syndication) bring positive influence as compared with private venture capital (PVC). On the one hand, existing studies find a positive effect of mixed syndication compared to syndication solely among PVCs in Europe (Cumming et al. 2017), and globally (Brander et al. 2015). On the other hand, Zhang (2018) find that start-ups backed by mixed syndication underperform in China, compared to those backed by syndication solely among PVCs. A possible explanations of the underperformance is less complementary resources but higher coordination cost in mixed syndication.
- 2.
This is contrast to the argument of Aizenman and Kendall (2008) that China was the dominant net importer of VC investment during 2003–2007.
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Xu, R., Zhao, D. (2023). Technology Innovation and Private Equity. In: Digital Transformation of Private Equity in China. Contributions to Finance and Accounting. Springer, Singapore. https://doi.org/10.1007/978-981-99-8482-4_2
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