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Growth of New Technology Ventures in China’s Emerging Market
New ventures have played a significant role in the world’s economic and social development. In particular, the development of high technology ventures has been viewed as both a revitalization tool for developed market economies, such as the USA, and a driving force for economic transformation in transition economies, such as China. With a focus on new technology ventures in China’s emerging market, this volume brings together researchers from a variety of disciplines and countries to provide a comprehensive understanding of this phenomenon.
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Critical Acclaim
Contributors
Contents
More Information
New ventures have played a significant role in the world’s economic and social development. In particular, the development of high technology ventures has been viewed as both a revitalization tool for developed market economies, such as the USA, and a driving force for economic transformation in transition economies, such as China. With a focus on new technology ventures in China’s emerging market, this volume brings together researchers from a variety of disciplines and countries to provide a comprehensive understanding of this phenomenon.
New technology ventures are highly vulnerable to environmental selection because they lack adequate knowledge of their environments, new product experience, and managerial and financial resources. Thus, these ventures tend to have high failure rates. Not surprisingly, a major stream of research in strategic management and entrepreneurship literature has focused on identifying the strategies that new technology ventures use to offset their liability of newness in order to improve their performance. However, previous studies have been done in the context of developed markets. This volume explores how new ventures successfully grow in China’s transition economy where strategic factor markets and institutional frameworks have not been developed in this context. Significant issues addressed in this volume include:
• Factors contributing to the growth of technology entrepreneurship in China
• Ownership and survival of technology ventures in China
• Challenges faced by venture capitalists in China
• Growth strategies and environment-strategy interaction in Chinese technology ventures
• Organizational control and reward and technology innovation in Chinese technology ventures
• Political risks of foreign ventures in China’s emerging market
• R&D globalization and internationalization strategy of Chinese technology ventures.
The contributors’ conclusions will be highly valuable to managers of new technology ventures and to Western firms attempting to enter the high technology industries in China. Researchers interested in new technology ventures and innovation will also find this volume a useful addition to their libraries.
New technology ventures are highly vulnerable to environmental selection because they lack adequate knowledge of their environments, new product experience, and managerial and financial resources. Thus, these ventures tend to have high failure rates. Not surprisingly, a major stream of research in strategic management and entrepreneurship literature has focused on identifying the strategies that new technology ventures use to offset their liability of newness in order to improve their performance. However, previous studies have been done in the context of developed markets. This volume explores how new ventures successfully grow in China’s transition economy where strategic factor markets and institutional frameworks have not been developed in this context. Significant issues addressed in this volume include:
• Factors contributing to the growth of technology entrepreneurship in China
• Ownership and survival of technology ventures in China
• Challenges faced by venture capitalists in China
• Growth strategies and environment-strategy interaction in Chinese technology ventures
• Organizational control and reward and technology innovation in Chinese technology ventures
• Political risks of foreign ventures in China’s emerging market
• R&D globalization and internationalization strategy of Chinese technology ventures.
The contributors’ conclusions will be highly valuable to managers of new technology ventures and to Western firms attempting to enter the high technology industries in China. Researchers interested in new technology ventures and innovation will also find this volume a useful addition to their libraries.
Critical Acclaim
‘. . . this text is an impressive contribution to the understanding of entrepreneurship and new technology ventures in emerging markets. It should become an essential source of reference for students, academics and professionals in the field of entrepreneurial management in emerging markets, and it will be much referenced and cited in the near future – it is an essential purchase for university libraries.’
– Jun Yeup Kim, Entrepreneurship and Innovation
– Jun Yeup Kim, Entrepreneurship and Innovation
Contributors
Contributors: D. Ahlstrom, J. Brookfield, G.D. Bruton, T.-S. Chan, J. Chen, W. Gao, X. Gao, Q. Gu, M.A. Hitt, R.M. Holmes, Jr., S. Khavul, D. Li, Haiyang Li, Hongbin Li, J. Li, M. Li, Y. Li, T. Miller, M.W. Peng, Y. Wu, K.S. Yeh, S.A. Zahra, W. Zhang,Y. Zhang, Y. Zhao, C. Zheng, L.-A. Zhou
Contents
Contents:
PART I: OVERVIEW OF NEW TECHNOLOGY VENTURES IN CHINA
1. Growth of New Technology Ventures in China: An Introduction
Haiyang Li and Michael A. Hitt
2. New Ventures in Emerging Markets: Comprehensive Review and Future Directions
Haiyang Li and Toyah Miller
3. Firm Dynamics in Economic Transition: Evidence from a Chinese Science Park
Quanlin Gu, Hongbin Li, Weiying Zhang and Li-An Zhou
4. Venture Capital in China: High Technology Investing in an Emerging Economy
David Ahlstrom, Kuang S. Yeh and Garry D. Bruton
PART II: ENVIRONMENT AND NEW VENTURE STRATEGIES
5. How Do Entrepreneurs Create Wealth in Transition Economies?
Mike W. Peng
6. External Environments, Strategy and High Tech New Ventures in China
Mingfang Li, Xudong Gao and Yajun Wu
7. Entrepreneurial Strategy Making and Performance in China’s New Technology Ventures: The Contingency Effect of Environments and Firm Competences
Haiyang Li, Yan Zhang and Tsang-Sing Chan
8. Innovation Capabilities and the Rise of the Local Telecom Equipment Firms in China
Xudong Gao and Weiqing Gao
9. The Effect of Organizational Reward and Control on Firm Innovation and Financial Performance in Chinese Technology Firms
Yuan Li, Dan Li, Haiyang Li and Yongbin Zhao
PART III: ENTRY OF FOREIGN VENTURES AND GLOBALIZATION OF LOCAL VENTURES IN CHINA
10. Location, Political Risk and Foreign Ventures in the PRC
Jonathan Brookfield and Jun Li
11. International New Ventures’ Learning in Culturally Distant Markets: The Case of China
Shaker A. Zahra
12. Theory and Empirical Evidence on R&D Globalization in Chinese Firms
Jin Chen and R. Michael Holmes, Jr.
13. Aspiration, Motivation and Internationalization Behaviour of Chinese Technology Firms
Congcong Zheng and Susanna Khavul
Index
PART I: OVERVIEW OF NEW TECHNOLOGY VENTURES IN CHINA
1. Growth of New Technology Ventures in China: An Introduction
Haiyang Li and Michael A. Hitt
2. New Ventures in Emerging Markets: Comprehensive Review and Future Directions
Haiyang Li and Toyah Miller
3. Firm Dynamics in Economic Transition: Evidence from a Chinese Science Park
Quanlin Gu, Hongbin Li, Weiying Zhang and Li-An Zhou
4. Venture Capital in China: High Technology Investing in an Emerging Economy
David Ahlstrom, Kuang S. Yeh and Garry D. Bruton
PART II: ENVIRONMENT AND NEW VENTURE STRATEGIES
5. How Do Entrepreneurs Create Wealth in Transition Economies?
Mike W. Peng
6. External Environments, Strategy and High Tech New Ventures in China
Mingfang Li, Xudong Gao and Yajun Wu
7. Entrepreneurial Strategy Making and Performance in China’s New Technology Ventures: The Contingency Effect of Environments and Firm Competences
Haiyang Li, Yan Zhang and Tsang-Sing Chan
8. Innovation Capabilities and the Rise of the Local Telecom Equipment Firms in China
Xudong Gao and Weiqing Gao
9. The Effect of Organizational Reward and Control on Firm Innovation and Financial Performance in Chinese Technology Firms
Yuan Li, Dan Li, Haiyang Li and Yongbin Zhao
PART III: ENTRY OF FOREIGN VENTURES AND GLOBALIZATION OF LOCAL VENTURES IN CHINA
10. Location, Political Risk and Foreign Ventures in the PRC
Jonathan Brookfield and Jun Li
11. International New Ventures’ Learning in Culturally Distant Markets: The Case of China
Shaker A. Zahra
12. Theory and Empirical Evidence on R&D Globalization in Chinese Firms
Jin Chen and R. Michael Holmes, Jr.
13. Aspiration, Motivation and Internationalization Behaviour of Chinese Technology Firms
Congcong Zheng and Susanna Khavul
Index
