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...

In many Asian countries we observe a rapid expansion of technology-oriented startups. Governments hope that these startups will boost economic growth, create jobs, and foster sustainable development. However, transforming an innovative idea into a successful business is not easy and is...

China’s venture capital (VC) market features significant government ownership of VCs. We examine the impact of government-owned VCs on the exit success of entrepreneurial firms. We distinguish between types of government VC according to the degree of government ownership (whole versus partial)...

Based on the analyses of the relevant Chinese laws and regulations governing the corporate governance structure of VC-invested firms, as well as the discussions over the feasibilities of employing a set of different alternatives to make direct and indirect VC investments in Chinese portfolio...

We examine the impact of mixed ownership on the performance of venture capital (VC) firms in China. We use successful/unsuccessful exits from VC-financed entrepreneurial companies and number of patent applications by VC-financed companies as proxies for VC firms’ performance. Consistent with...