Investment Timing, Risk, Uncertainty, and Return: Evidence From Venture Capital Backed IPOs

Corporate Venture Capital (CVC) Investment Timing, Strategic Misalignment, and CVC Value Addition

Academy of Management Proceedings ◽

10.5465/ambpp.2021.15170abstract ◽

2021 ◽

Vol 2021 (1) ◽

pp. 15170

Author(s):

Jukyeong Han ◽

Minyoung Kim ◽

Jongkuk Lee

Keyword(s):

Venture Capital ◽

Corporate Venture Capital ◽

Value Addition ◽

Investment Timing ◽

Corporate Venture

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Does venture capital spur innovation or the other way around? Evidence on the significance of investment timing from China

Growth and Change ◽

10.1111/grow.12274 ◽

2018 ◽

Vol 50 (1) ◽

pp. 90-113 ◽

Cited By ~ 1

Author(s):

Xiao Lin ◽

Wei Xu ◽

Baiping Zhang ◽

Fan Yang

Keyword(s):

Venture Capital ◽

The Other ◽

Investment Timing

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Determinants of Investment Timing of Government Venture Capital Guiding Funds in China

Discrete Dynamics in Nature and Society ◽

10.1155/2021/7140807 ◽

2021 ◽

Vol 2021 ◽

pp. 1-10

Author(s):

Jing Cui ◽

Shuqin Zhang ◽

Xianan Yin ◽

Kun Xu

Keyword(s):

Resource Allocation ◽

Venture Capital ◽

Early Development ◽

Significant Relationship ◽

Policy Improvement ◽

Investment Timing ◽

Financial Difficulties ◽

Market Competitiveness ◽

Innovation Ability ◽

Management Optimization

With the prosperity of venture capital, all kinds of government venture capital guiding funds have sprung up, and the scale is explosive growth. However, the current investment of government guiding funds in enterprises has not fundamentally solved the financial difficulties in the early development of enterprises. This study examines the determinants of investment timing of government guiding funds. We investigate this question using the data of China’s new three board companies that have been invested by government guiding funds in the year of 2015-2016. We find that government guiding funds enter the enterprises into developed areas earlier. The innovation ability and the market competitiveness of the invested enterprises are positively correlated with the investment timing of government guiding funds. There is no significant relationship between the investment proportion of government guiding funds and the timing of entering the enterprises. The research of this paper can provide theoretical reference for the subsequent optimization of the resource allocation and provide ideas and methods for the policy improvement and management optimization of government venture capital guiding funds in the future.

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