Entrepreneurs' resource background, innovation, philanthropy and the exit of external Investment in Private Ventures in China

被引：7
|
作者：
Tang, Jintong [1 ]
Tang, Zhi [2 ]
Zhu, Renhong [3 ]
Li, Xinchun [3 ]
机构：
[1] St Louis Univ, Richard A Chaifetz Sch Business, St Louis, MO 63103 USA
[2] Rochester Inst Technol, Saunders Coll Business, Rochester, NY 14623 USA
[3] Sun Yat Sen Univ, Business Sch, Guangzhou 510275, Guangdong, Peoples R China
来源：
ASIA PACIFIC JOURNAL OF MANAGEMENT | 2021年 / 38卷 / 02期
基金：
中国国家自然科学基金;
关键词：
Innovation; Philanthropy; External investment exit; Resource background; Signaling theory; Social embeddedness theory; China; SOCIAL-RESPONSIBILITY; FIRM PERFORMANCE; SIGNALING THEORY; STRATEGIC MANAGEMENT; CORPORATE; NETWORKS; SMES; DETERMINANTS; ORIENTATION; OWNERSHIP;
D O I：
10.1007/s10490-019-09674-0
中图分类号：
C93 [管理学];
学科分类号：
12 ; 1201 ; 1202 ; 120202 ;
摘要：
Retaining external investment is an important task for private firms. However, the entrepreneurial financing literature has primarily focused on how to attract, instead of retain, start-up funding. Integrating social embeddedness, signaling, and strategic choice theories, we propose that entrepreneurs' resource background, philanthropic, and innovative activities affect the exit speed of external investment for Chinese private ventures. In particular, we propose that external investment exits entrepreneurs with deprived resources faster than those more resourceful entrepreneurs. Yet, external investment stays longer when less resourceful entrepreneurs commit to innovative or philanthropic activities.
引用
收藏
页码：467 / 489
页数：23
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