The financial political economy of venture capital

Author: Liu Zhiyang
Publisher:
Publish Date: 2005-04-01
Features: This book studies the mechanism and trends of venture capital movement. Chapter 1, Introduction. Chapter 2, based on a review of the technical and institutional approaches in existing literature, emphasizes the importance of introducing the financial political economy method and proposes a financial political economy analytical framework for the operation of venture capital. Chapter 3, explores the cyclical movement of venture capital and international differences. Chapter 4, analyzes the mechanism of movement in the mobilization, investment, and exit stages of market-dominated venture capital, attempting to summarize the movement patterns of venture capital. Chapter 5, examines the trends of venture capital movement and the economic relationships they reflect. Chapter 6, reveals the mechanism of government-led venture capital movement and capital movement, identifies existing problems in China's venture capital movement, and proposes corresponding solutions. The core argument of this book is that venture capital, as an independent capital form separated from industrial capital and specifically tasked with investing in the research and development stage of enterprises, exhibits both connections and distinctions in its movement patterns compared to industrial capital. Its movement trends reflect the complex economic relationships within venture capital. The innovations of this book primarily lie in the following aspects: First, compared to existing research methods on the technical and institutional approaches of venture capital movement, this book attempts to construct a political economy analytical framework for the operation of venture capital. Second, based on an in-depth and systematic study of the movement mechanisms at various stages of venture capital, it attempts to summarize the movement patterns of venture capital relative to industrial capital. Third, it summarizes four trends in the movement of venture capital and attempts to reveal the underlying economic relationships. Fourth, it provides a preliminary comparison of the differences in movement mechanisms between government-led and market-oriented venture capital movement models.