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:
Journal Article
Journal or Publication Title:
Venture Capital: An International Journal of Entrepreneurial Finance
Uncontrolled Keywords:
/dk/atira/pure/subjectarea/asjc/2000/2003
Subjects:
ID Code:
64825
Deposited By:
Deposited On:
31 May 2013 08:48
Refereed?:
Yes
Published?:
Published
Last Modified:
29 Jul 2020 11:07