The impact of venture capital funds with foreign limited partners investment on enterprise internationalization: evidence from China

被引：3
|
作者：
Feng, Ting [1 ]
Guo, Lihong [1 ]
Dong, Jianwei [1 ]
Wang, Han [2 ]
机构：
[1] Northwest Univ, Sch Econ & Management, Xian 710127, Peoples R China
[2] Xian Univ Finance & Econ, Sch Business, Xian 710127, Peoples R China
来源：
HELIYON | 2022年 / 8卷 / 12期
基金：
中国国家自然科学基金;
关键词：
Venture capital; Enterprise internationalization; Foreign limited partner; Emerging markets; FIRM;
D O I：
10.1016/j.heliyon.2022.e12281
中图分类号：
O [数理科学和化学]; P [天文学、地球科学]; Q [生物科学]; N [自然科学总论];
学科分类号：
07 ; 0710 ; 09 ;
摘要：
This paper examines the relationship between local venture capital (VC) funds and portfolio enterprise interna-tionalization from the perspective of limited partners (LPs). Based on a sample consist of 581 listed enterprises invested by local VC funds in China during 2009-2021, it's found that, compared to the VC funds invested by local LPs completely (LLP_VC), the VC funds with foreign LP investment (FLP_VC) are more likely to help portfolio enterprises list overseas. If FLP_VC syndicates or act as a major investor, it will have a greater role in promoting the internationalization of enterprises.
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页数：5
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