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Institutional transition and the financing of high-tech SMEs in China:a longitudinal perspective

Xiao, Li and North, David (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

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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
Journal or Publication Title: Venture Capital: An International Journal of Entrepreneurial Finance
Uncontrolled Keywords: institutional transition ; access to finance ; high-tech SMEs ; China
Subjects:
Departments: Lancaster University Management School > Institute for Enterprise & Entrepeneurial Development (IEED)
ID Code: 64825
Deposited By: ep_importer_pure
Deposited On: 31 May 2013 09:48
Refereed?: Yes
Published?: Published
Last Modified: 24 Nov 2017 05:17
Identification Number:
URI: http://eprints.lancs.ac.uk/id/eprint/64825

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