Suchard, Jo-Ann; Humphery-Jenner, Mark; Cao, Xiaping - 2021
China’s venture capital (VC) market features significant government ownership of VCs. We examine the impact of … mainland China, where the IPO process is discretionary and heavily regulated. Entrepreneurial firms backed by partially … firms may benefit from government VC investment, but that complete government control of a VC can lead to inefficiencies …