Research on Driving Factors of Venture Capital in China

-- Evidence from Provincial Panel Data from 2001 to 2019

Authors

  • Xiaoxiao Zhou
  • Zhou Zhou
  • Yilin Li

DOI:

https://doi.org/10.54691/bcpbm.v15i.334

Keywords:

Venture Capital; Ordinary Panel Model; Spatial Panel Model; Multiple Matrix.

Abstract

Venture capital is an important factor to promote technological innovation and economic growth. Exploring the influencing factors of venture capital is of great significance to promoting regional high-quality development and enhancing regional comprehensive competitiveness. This paper takes the panel data of various regions in my country from 2001 to 2019 as the research object, and uses the econometric model to study the driving influence factors of venture capital in China. The results show that the level of technological investment, education and government intervention have a significant role in promoting regional venture capital, and environmental regulations have a certain inhibitory effect. Finally, based on the above research conclusions, corresponding suggestions are put forward from the government's perspective.

Downloads

Download data is not yet available.

References

Hirukawa, Masayuki, and Masako Ueda. "Venture capital and innovation: which is first?" Pacific Economic Review 16.4 (2011): 421-465.

Kállay L, Jáki E. The impact of state intervention on the Hungarian venture capital market[J]. Economic research-Ekonomska istraživanja, 2020, 33(1): 0-0.

Lerner J. The future of public efforts to boost entrepreneurship and venture capital[J]. Small Business Economics, 2010, 35(3): 255-264.

Mustafa M, Mazhar S S. Determinants of Venture Capital Investment in India: A Time Series Analysis[J]. The Review of Finance and Banking, 2020, 12(1).

Pezeshkan A, Smith A, Fainshmidt S, et al. A neo-configurational institutional analysis of international venture capital attractiveness and performance: insights for Asia-Pacific[J]. Asia Pacific Journal of Management, 2020: 1-29.

Fang Jiawen, Liu Haimeng. Temporal and spatial distribution characteristics and influence mechanism of venture capital in Beijing-Tianjin-Hebei urban agglomeration[J]. Advances in Geographical Sciences, 2017, 36(01): 68-77.

Zhang Yilin. An Empirical Analysis of the Spatial Distribution and Influencing Factors of Venture Capital in my country [D]. Zhejiang University, 2018.

Sun Xiangxiang, Zhou Xiaoliang. Regional differences in venture capital and its influencing factors: Taking Guangdong Province as an example[J]. Journal of Beijing University of Posts and Telecommunications (Social Science Edition), 2019, 21(03): 25-32. DOI: 10.19722/j.cnki.1008-7729. 2019. 0042.

Qiao Qin, Fan Jie, Sun Yong, Liu Baoyin, Liu Hanchu. Research on the Spatial and Temporal Distribution and Influencing Factors of Venture Capital in the Areas along the "One Belt and One Road" in my country [J]. Science and Technology Progress and Policy, 2021, 38(18): 37-45.

Yao Li. Venture capital, regional technological innovation level and spatial effects--An empirical study based on inter-provincial panel data[J]. Contemporary Economic Management, 2018, 40(06): 7-12.

Downloads

Published

2021-12-30

How to Cite

Zhou, X., Zhou, Z., & Li, Y. (2021). Research on Driving Factors of Venture Capital in China: -- Evidence from Provincial Panel Data from 2001 to 2019. BCP Business & Management, 15, 419-425. https://doi.org/10.54691/bcpbm.v15i.334