Access to external financing is a major obstacle for starting a new business across various country contexts. Ethnic minorities, in particular, tend to face more extreme financial constraints, although the linkages between ethnicity, finance and entrepreneurship has never been previously studied...

This article investigates the characteristics of high-growth (HG) firms in Chinese manufacturing, and further explores the effects of firm characteristics on persistence of high-growth. We employ a multidimensional definition of HG firms that simultaneously accounts for growth of sales and...

Disruptive innovation often requires new, autonomous entities that are supported by (Corporate) Venture Capital. Although China has become the second-largest Venture Capital (VC) market in the world, knowledge about Chinese CVC remains underdeveloped and lacks academic attention despite its...

Although the history of China's venture capital (VC) market is relatively short, it has already become the second largest VC market in the world and produced the second largest number of "unicorns" (startups with a valuation over $1 billion) after the US. Despite the remarkable growth of both...

This paper studies how investing in venture capital (VC) affects the entrepreneurial outcomes of individual limited partners (LPs). Using comprehensive administrative data on entrepreneurial activities and VC fundraising and investments in China, we first document that individual LPs, on...

We examine how investor-level tax incentives affect financing for start-ups using the introduction of a generous tax deduction for qualified angel and VC investment in China as a quasi-natural experiment. We find that the tax incentive increases funding for eligible start-ups, with stronger...

The gender gap in social networks has long been seen as a determinant of the glass ceiling for women to advance to top corporate positions. Exploiting China’s anti-corruption campaign launched in 2012 as an exogenous shock and adopting a novel identification strategy, we find that the...

This chapter offers a retrospective account of Baumol's contribution in light of its influence on economics and entrepreneurship studies. The first section describes the core arguments of his original paper. The second section discusses its impact on the entrepreneurship discipline. Following...

Many entrepreneurs proclaim proudly to have learned from the School of Hard Knocks rather than business schools. These claims challenge the social value of investments in entrepreneurship education and training. Yet, there is little empirical evidence of the effect of earlier life challenges on...

Using China's provincial-level panel data from 1978–2008, we examine the effects of entrepreneurship on economic growth in the context of China's transformation from a centrally planned to a market-oriented economy. We divide entrepreneurship into two types: business creation and innovation....