Policies of promoting entrepreneurship and Angel Investment: Evidence from China

Using a sample of angel investments in China from 1994 to 2013, we examine effects of government policies that are favorable to start-ups on angel investment. Our findings show that positive effects of these policies on the amounts of angel investments are more significant in provinces with higher e...

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Bibliographic Details
Published in:Emerging markets review 2016-12, Vol.29, p.154-167
Main Authors: Li, Changhong, Shi, Yulin, Wu, Cong, Wu, Zhenyu, Zheng, Li
Format: Article
Language:English
Subjects:
Angel investment
Angel investors
China
Entrepreneurship
Government policy
Public policy
Startups
Studies
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Summary:Using a sample of angel investments in China from 1994 to 2013, we examine effects of government policies that are favorable to start-ups on angel investment. Our findings show that positive effects of these policies on the amounts of angel investments are more significant in provinces with higher economic growth than those in provinces with lower economic growth. Policies that promote entrepreneurship affect the returns from high-amount angel investments more than those from low-amount ones. These findings indicate that such policies help to shape the new venture market in China and guide angel investors in making more efficient investments.
ISSN:1566-0141
1873-6173
DOI:10.1016/j.ememar.2016.08.011