The paradox of prosperity in China: the interplay among entrepreneurs, government, and venture capitalists at initial public offering
Abstract
This dissertation includes three essays and focuses on a key entrepreneurial event in a life
of a new venture, the initial public offering. Each essay investigates the mechanisms through
which three key players, namely founders, government, and venture capitalists, influence
governance structure and value creation in an emerging market. I have collected data on all 274
entrepreneurial firms with initial public offering from 2004 to 2009 in the “Small and Medium
Enterprise Board” and “Growth Enterprise Market Board” in China. Drawing on resource
dependency, multiple agency, and signaling theories, together these three essays aim to develop
new theories and provide empirical insights into initial public offering of new ventures in the
Chinese context.
Table of Contents
Introduction -- Are founder directors detrimental to new ventures? -- Entrepreneurial finance meets government investment: a good match or not? -- Two sides of the same coin: conflicting signals in a nascent financial market
Degree
Ph.D.