Institutional transition and the financing of high-tech SMEs in China: a longitudinal perspective
Li, Xiao and North, David J. (2012) Institutional transition and the financing of high-tech SMEs in China: a longitudinal perspective. Venture Capital: an International Journal of Entrepreneurial Finance, 14 (4) . pp. 269-287. ISSN 1369-1066 [Article] (doi:10.1080/13691066.2012.688578)
Abstract
This article examines changes in Chinese high-tech SMEs’ access to both bank and informal finance in response to the institutional changes relating to the private sector and financial transactions. It draws upon two rounds of face-to-face interviews with the owners of high-tech SMEs and finance providers in the Chinese provinces of Guangdong and Guangxi covering two consecutive time periods: from 1998 to 2004 and then from 2004 to 2009. The findings show that the effects of the changes in institutional regulations on the availability of finance to high-tech SMEs vary according to the type of finance provider. Access to informal sources of finance grew, including to longer-term equity finance, whereas that to bank finance did not significantly improve.
| Item Type: | Article |
|---|---|
| Keywords (uncontrolled): | institutional transition, access to finance, high-tech SMEs, China |
| Research Areas: | A. > Business School |
| Item ID: | 10032 |
| Useful Links: | |
| Depositing User: | Pamela Macaulay |
| Date Deposited: | 11 Feb 2013 08:21 |
| Last Modified: | 13 Oct 2016 14:26 |
| URI: | https://eprints.mdx.ac.uk/id/eprint/10032 |
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