The size of venture capital funds' portfolios: evidence from Mainland China

被引：0

作者：

Sun, Ming ^{[1
]}

Fang, Sihai ^{[1
]}

机构：

[1] Univ Elect Sci & Technol China, Sch Management & Econ, Chengdu 610054, Peoples R China

来源：

PROCEEDINGS OF THE THIRD INTERNATIONAL CONFERENCE ON MANAGEMENT SCIENCE AND ENGINEERING MANAGEMENT | 2009年

关键词：

venture capital; portfolio size; Mainland China; financial applications; economic analysis;

D O I：

暂无

中图分类号：

C93 [管理学];

学科分类号：

12 ; 1201 ; 1202 ; 120202 ;

摘要：

Through three rounds of total coverage survey on VC funds registered in Mainland China, we receive 41 VC fund samples. This paper, we empirically test the relation among the size of VC fund portfolios, entrepreneurs' profit share and exogenous factors and find: (1) the portfolio size of a VC fund significantly varies non-monotonically with entrepreneurs' profit share, the number of venture firms is fist increasing when entrepreneurs' profit share is low and then decreasing when it is high; (2) entrepreneurs' profit share is significantly positive related with the number of venture firms in a VC fund; (3) government-sponsored VCs invest more venture firms but retain less profit share in a venture firm.

引用

页码：369 / 373

页数：5

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