References
- Ahlstrom, D., G. Bruton, and K. Yeh (2007). “Venture Capital in China: Past, Present, and Future,” Asia Pacific Journal of Management 24(3), 247–268.
- Allen, F., and G. R. Faulhaber (1989). “Signaling by Underpricing in the IPO Market,” Journal of Financial Economics 23(2), 303–323.
- Amit, R., J. Brander, and C. Zott (1998). “Why Do Venture Capital Firms Exist? Theory and Canadian Evidence,” Journal of Business Venturing 13(6), 441–466.
- Amit, R., L. Glosten, and E. Muller (1990). “Entrepreneurial Ability, Venture Investments, and Risk Sharing,” Management Science 36(10), 1232–1245.
- Armour, J. (2004). “The Legal Road to Replicating Silicon Valley,” ESRC Centre for Business Research, University of Cambridge Working Paper No. 281.
- Ayyagari, M., A. Demirgüç‐kunt, and V. Maksimovic (2010). “Formal versus Informal Finance: Evidence from China,” Review of Financial Studies 23(8), 3048–3097.
- Beatty, R. P., and J. R. Ritter (1986). “Investment Banking, Reputation and the Underpricing of Initial Public Offerings,” Journal of Financial Economics 15, 213–232.
- Ber, H., and Y. Yafeh (2007). “Can Venture Capital Funds Pick Winners? Evidence from Pre‐IPO Survival Rates and Post‐IPO Performance,” Israel Economic Review 5(1), 23–46.
- Booth, J. R., and R. L. Smith (1986). “Capital Raising, Underwriting and the Certification Hypothesis,” Journal of Financial Economics 15(1‐2), 261–281.
- Bruton, G. D., and D. Ahlstrom (2003). “An Institutional View of China's Venture Capital Industry: Explaining the Differences between China and the West,” Journal of Business Venturing 18(2), 233–259.
- Chan, K., J. Wang, and K. C. J. Wei (2004). “Underpricing and Long‐Term Performance of IPOs in China,” Journal of Corporate Finance 10(3), 409–430.
- Chang, E., C. Chen, J. Chi, and M. Young (2008). “IPO Underpricing in China: New Evidence from the Primary and Secondary Markets,” Emerging Markets Review 9(1), 1–16.
- Chen, G., M. Firth, and J. Kim (2004). “IPO Underpricing in China's New Stock Markets,” Journal of Multinational Financial Management 14(3), 283–302.
- de Bettignies, J., and J.A. Brander (2007). “Financing Entrepreneurship: Bank Finance Versus Venture Capital,” Journal of Business Venturing 22, 808–832.
- Dolvin, S. (2005). “Venture Capitalist Certification of IPOs,” Venture Capital 7(2), 131–148.
- Fan, J. P. H., and T. J. Wong (2002). “Corporate Ownership Structure and the Informativeness of Accounting Earnings in East Asia,” Journal of Accounting and Economics 33(3), 401–425.
- Fiet, J. O. (1995). “Risk Avoidance Strategies in Venture Capital Markets,” Journal of Management Studies 32(4), 551–574.
- Fuller, D. B. (2009). “How Law, Politics and Transnational Networks Affect Technology Entrepreneurship: Explaining Divergent Venture Capital Investing Strategies in China,” Asia Pacific Journal of Management 27(3), 445–459.
- Fung, H., Q. Liu, and J. Yau (2007). “Financing Alternatives for Chinese Small and Medium Enterprises: The Case for a Small and Medium Enterprise Stock Market,” China & World Economy 15(1), 26–42.
- Gilson, R. J. (2003). “Engineering a Venture Capital Market: Lessons from the American Experience,” Stanford Law Review 55(4), 1067–1104.
- Gompers, P. (1996). “Grandstanding in the Venture Capital Industry,” Journal of Financial Economics 42, 133–156.
- Gorman, M., and W. A. Sahlman (1989). “What Do Venture Capitalists Do?,” Journal of Business Venturing 4(4), 231–249.
- Hoberg, G., and H. N. Seyhun (2009). “Do Underwriters Collaborate with Venture Capitalists in IPOs? Implications and Evidence,” Unpublished Working Paper, University of Maryland and University of Michigan.
- Hussain, J., C. Millman, and H. Matlay (2006). “SME Financing in the UK and in China: A Comparative Perspective,” Journal of Small Business and Enterprise Development 13(4), 584–599.
- Ibbotson, R. G. (1975). “Price Performance of Common Stock New Issues,” Journal of Financial Economics 2(3), 235–272.
- Jain, B. A., and O. Kini (1995). “Venture Capitalist Participation and the Post‐Issue Operating Performance of IPO Firms,” Managerial & Decision Economics 16(6), 593–606.
- Jeng, L. A., and P. C. Wells (2000). “The Determinants of Venture Capital Funding: Evidence across Countries,” Journal of Corporate Finance 6, 241–289.
- Lee, P. M., and S. Wahal (2004). “Grandstanding, Certification and the Underpricing of Venture Capital Backed IPOs,” Journal of Financial Economics 73(2), 375–407.
- Leeds, R., and J. Sunderland (2003). “Private Equity Investing in Emerging Markets,” Journal of Applied Corporate Finance 15, 111–119.
- Li, H. B., L. S. Meng, Q. Wang, and L. A. Zhou (2008). “Political Connections, Financing and Firm Performance: Evidence from Chinese Private Firms,” Journal of Development Economics 87(2), 283–299.
- Lu, H. T., M. E. Solt, and Y. Tan (2010). “Do Foreign and Local Venture Capitalists Behave Alike in Transitional Economies? Evidence from China,” Journal of International Business and Economics 10(1), 1–10.
- Lu, H. T., Y. Tan, and G. M. Chen (2007). “Venture Capital and Law in China,” Hong Kong Law Journal 37(1), 229–271.
- Megginson, W. L., and K. A. Weiss (1991). “Venture Capitalist Certification in Initial Public Offerings,” Journal of Finance 46(3), 879–903.
- Milhaupt, C. J. (1997). “The Market for Innovation in the United States and Japan: Venture Capital and the Comparative Corporate Governance Debate,” Northwest University Law Review 91, 865–898.
- Mok, H. M. K., and Y. V. Hui (1998). “Underpricing and Aftermarket Performance of IPOs in Shanghai, China,” Pacific‐Basin Finance Journal 6(5), 453–474.
- Naqi, S. A., and S. Hettihewa (2007). “Venture Capital or Private Equity? The Asian Experience,” Business Horizons 50(4), 335–344.
- Narayanan, V. K., and L. Fahey (2005). “The Relevance of the Institutional Underpinnings of Porter's Five Forces Framework to Emerging Economies: An Epistemological Analysis,” Journal of Management Studies 42(1), 207–223.
- Oliver, C., and I. Holzinger (2008). “The Effectiveness of Strategic Political Management: A Dynamic Capabilities Framework,” Academy of Management Journal 33(2), 496–520.
- Peltzman, S. (1976). “Toward a More General Theory of Regulation,” Journal of Law and Economics 19(2), 211–240.
- Pukthuanthong, K., and T. Walker (2007). “Venture Capital in China: A Culture Shock for Western Investors,” Management Decision 45(4), 708–731.
- Robinson, R. B. Jr (1987). “Emerging Strategies in the Venture Capital Industry,” Journal of Business Venturing 2, 53–77.
- Rock, K. (1986). “Why New Issues Are Underpriced,” Journal of Financial Economics 16(1‐2), 187–212.
- Shleifer, A., and R. W. Vishny (1993). “Corruption,” The Quarterly Journal of Economics 108(3), 599–617.
- Su, D., and B. M. Fleisher (1999). “An Empirical Investigation of Underpricing in Chinese IPOs,” Pacific‐Basin Finance Journal 7(2), 173–202.
- Tan, J., W. Zhang, and J. Xia (2008). “Managing Risk in a Transitional Environment: An Exploratory Study of Control and Incentive Mechanisms of Venture Capital Firms in China,” Journal of Small Business Management 46(2), 263–285.
- Timmons, J. A., and W. D. Bygrave (1986). “Venture Capital's Role in Financing Innovation for Economic Growth,” Journal of Business Venturing 1(2), 161–176.
- Tykvová, T., and U. Walz (2007). “How Important Is Participation of Different Venture Capitalists in German IPOs?,” Global Finance Journal 17(3), 350–378.
- Wang, C. (2005). “Ownership and Operating Performance of Chinese IPOs,” Journal of Banking & Finance 29(7), 1835–1856.
- Wang, C. K., K. Wang, and Q. Lu (2003). “Effects of Venture Capitalists’ Participation in Listed Companies,” Journal of Banking & Finance 27(10), 2015–2034.
- Wells, W. A. (1974). “Venture Capital Decision Making,” Ph.D. thesis, Carnegie‐Mellon University, Pittsburgh, PA.
- White, S., J. Gao, and W. Zhang (2005). “Financing New Ventures in China: System Antecedents and Institutionalization,” Research Policy 34(5), 894–913.
- Wright, M., S. Pruthi, and A. Lockett (2002). “Internationalization of Western Venture Capitalists into Emerging Markets: Risk Assessment and Information in India,” Small Business Economics 19(1), 13–29.
- Wright, M., and K. Robbie (1998). “Venture Capital and Private Equity: A Review and Synthesis,” Journal of Business Finance & Accounting 25(5), 521–570.
- Yu, T., and Y. K. Tse (2006). “An Empirical Examination of IPO Underpricing in the Chinese A‐Share Market,” China Economic Review 17(4), 363–382.
- Zacharakis, A. L., J. Mcmullen, and D. A. Shepherd (2007). “Venture Capitalists’ Decision Making Across Three Countries: An Institutional Theory Perspective,” Journal of International Business Studies 38, 691–708.