Venture Capital, Ownership Concentration and Enterprise R&D Investment
- Wen, Hongxing
- Xia, Kui
Publication date
December 2016
DOI Publisher
The Author(s). Published by Elsevier B.V.Abstract
AbstractWe empirically examine the relationship among venture capital (VC), ownership concentration and enterprise R&D investment. Drawing on the data of China's GEM from 2010 to 2014, we find that VC and enterprise R&D investment are significantly positively correlated while ownership concentration and enterprise R&D investment are significantly negatively correlated. Further research shows that in the VC-backed companies ownership concentration has no significant impact on R&D investment
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