Financial crises and venture capital development: evidence from Indonesia

被引：0

作者：

Lingelbach, David ^{[1
]}

机构：

[1] Univ Baltimore, Merrick Sch Business, Baltimore, MD 21201 USA

来源：

ASIA PACIFIC BUSINESS REVIEW | 2019年 / 25卷 / 01期

关键词：

Asian financial crisis; external shocks; financial crises; Indonesia; mixed methods; venture capital; OPPORTUNITY; ALLIANCES; EMERGENCE; ECONOMY; MARKET; IMPACT;

D O I：

10.1080/13602381.2018.1519173

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This exploratory study examines how financial crises impede or support venture capital (VC) development in the context of Indonesia and the 1997-1998 Asian financial crisis (AFC). Using a mixed-methods research methodology, the study finds that financial crises have divergent effects on VC development. Financial crises support VC development through accelerated VC practise diffusion, but impede that development by slowing VC enabling conditions. The effects of the substantial macro institutional changes often associated with financial crises are insufficient to overcome these impediments, resulting in a smaller VC industry.

引用

页码：61 / 80

页数：20

共 50 条

[1] Investor abilities and financial contracting: Evidence from venture capital
Bengtsson, Ola
Sensoy, Berk A.
[J]. JOURNAL OF FINANCIAL INTERMEDIATION, 2011, 20 (04) : 477 - 502
[2] Bank Ownership and Efficiency in the Aftermath of Financial Crises: Evidence from Indonesia
Parinduri, Rasyad A.
Riyanto, Yohanes E.
[J]. REVIEW OF DEVELOPMENT ECONOMICS, 2014, 18 (01) : 93 - 106
[3] Financial contracting with strategic investors: Evidence from corporate venture capital backed IPOs
Masulis, Ronald W.
Nahata, Rajarishi
[J]. JOURNAL OF FINANCIAL INTERMEDIATION, 2009, 18 (04) : 599 - 631
[4] Financial intermediaries, ownership structure and the provision of venture capital to SMEs: evidence from Japan
Cumming, Douglas
Fleming, Grant
Schwienbacher, Armin
[J]. SMALL BUSINESS ECONOMICS, 2008, 31 (01) : 59 - 92
[5] Capital flows and financial crises: Theory versus reality capital flows and financial crises
Benzing C.
[J]. Atlantic Economic Journal, 2001, 29 (1) : 107 - 112
[6] Financial intermediaries, ownership structure and the provision of venture capital to SMEs: evidence from Japan
Douglas Cumming
Grant Fleming
Armin Schwienbacher
[J]. Small Business Economics, 2008, 31 : 59 - 92
[7] The impact of venture capital on the digital industry development: evidence from China
Li, Yan
Zhu, Qina
Mao, Fengfu
[J]. ASIAN-PACIFIC ECONOMIC LITERATURE, 2024, 38 (01) : 93 - 109
[8] IMPACT OF FINANCIAL CRISES ON THE DYNAMICS OF CAPITAL STRUCTURE: EVIDENCE FROM KOREAN LISTED COMPANIES
Lyubov, Tsoy
Heshmati, Almas
[J]. SINGAPORE ECONOMIC REVIEW, 2023, 68 (03): : 867 - 898
[9] Financial Crises and Bank Capital
Aliber, Robert Z.
[J]. ATLANTIC ECONOMIC JOURNAL, 2019, 47 (01) : 1 - 11
[10] Capital flows and financial crises
Sookmark, S
[J]. MILLENNIUM-JOURNAL OF INTERNATIONAL STUDIES, 1999, 28 (03): : 793 - 794

← 1 2 3 4 5 →