THE LINKAGE BETWEEN INWARD INVESTMENT AND OUTWARD INVESTMENT IN THE VENTURE CAPITAL INDUSTRY

Gu QIAN; Jane W. LU

doi:10.5465/ambpp.2009.44249927

THE LINKAGE BETWEEN INWARD INVESTMENT AND OUTWARD INVESTMENT IN THE VENTURE CAPITAL INDUSTRY

Research output: Chapters, Conference Papers, Creative and Literary Works › RGC 32 - Refereed conference paper (with host publication) › peer-review

Abstract

The linkage between the entries of foreign firms and the international expansion of host country firms has been understudied. In this study, we incorporate both the spillover effects and competition effects of foreign entrants and develop an integral framework of inward and outward investment relationship between different pairs of home and host countries. Our analysis of Venture Capital (VC) investments worldwide of 1980-2007 period shows that there is a strong connection between the inward and outward VC investments of pair countries. Moreover, this connection is contingent upon the relative stages of VC industry establishment of the pair countries, which entail various spillover effects and competition effects. When the host country is a laggard and the home country is a leader in the VC industry, the impact of inward VC investment on outward VC investment between the pair countries is the most prominent. Meanwhile, the host country's propensity to make outward VC investments to the home country will be enhanced with an increased number of co-investments between the two.

Original language	English
Title of host publication	Academy of Management 2009 Annual Meeting: Green Management Matters, AOM 2009
Number of pages	8
DOIs	https://doi.org/10.5465/ambpp.2009.44249927
Publication status	Published - Aug 2009
Externally published	Yes
Event	69th Annual Meeting of the Academy of Management (AOM 2009) - Chicago, United States Duration: 7 Aug 2009 → 11 Aug 2009

Publication series

Name	Academy of Management Annual Meeting Proceedingsis, AOM
Number	1
Volume	2009
ISSN (Print)	0065-0668
ISSN (Electronic)	2151-6561

Conference

Conference	69th Annual Meeting of the Academy of Management (AOM 2009)
Place	United States
City	Chicago
Period	7/08/09 → 11/08/09

Research Keywords

Inward investment
Outward investment
VC industry

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10.5465/ambpp.2009.44249927

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Cite this

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title = "THE LINKAGE BETWEEN INWARD INVESTMENT AND OUTWARD INVESTMENT IN THE VENTURE CAPITAL INDUSTRY",

abstract = "The linkage between the entries of foreign firms and the international expansion of host country firms has been understudied. In this study, we incorporate both the spillover effects and competition effects of foreign entrants and develop an integral framework of inward and outward investment relationship between different pairs of home and host countries. Our analysis of Venture Capital (VC) investments worldwide of 1980-2007 period shows that there is a strong connection between the inward and outward VC investments of pair countries. Moreover, this connection is contingent upon the relative stages of VC industry establishment of the pair countries, which entail various spillover effects and competition effects. When the host country is a laggard and the home country is a leader in the VC industry, the impact of inward VC investment on outward VC investment between the pair countries is the most prominent. Meanwhile, the host country's propensity to make outward VC investments to the home country will be enhanced with an increased number of co-investments between the two.",

keywords = "Inward investment, Outward investment, VC industry",

author = "Gu QIAN and LU, {Jane W.}",

year = "2009",

month = aug,

doi = "10.5465/ambpp.2009.44249927",

language = "English",

series = "Academy of Management Annual Meeting Proceedingsis, AOM",

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booktitle = "Academy of Management 2009 Annual Meeting: Green Management Matters, AOM 2009",

note = "69th Annual Meeting of the Academy of Management (AOM 2009) ; Conference date: 07-08-2009 Through 11-08-2009",

}

QIAN, G & LU, JW 2009, THE LINKAGE BETWEEN INWARD INVESTMENT AND OUTWARD INVESTMENT IN THE VENTURE CAPITAL INDUSTRY. in Academy of Management 2009 Annual Meeting: Green Management Matters, AOM 2009. Academy of Management Annual Meeting Proceedingsis, AOM, no. 1, vol. 2009, 69th Annual Meeting of the Academy of Management (AOM 2009), Chicago, Illinois, United States, 7/08/09. https://doi.org/10.5465/ambpp.2009.44249927

THE LINKAGE BETWEEN INWARD INVESTMENT AND OUTWARD INVESTMENT IN THE VENTURE CAPITAL INDUSTRY. / QIAN, Gu; LU, Jane W.
Academy of Management 2009 Annual Meeting: Green Management Matters, AOM 2009. 2009. (Academy of Management Annual Meeting Proceedingsis, AOM; Vol. 2009, No. 1).

Research output: Chapters, Conference Papers, Creative and Literary Works › RGC 32 - Refereed conference paper (with host publication) › peer-review

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AU - QIAN, Gu

AU - LU, Jane W.

PY - 2009/8

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N2 - The linkage between the entries of foreign firms and the international expansion of host country firms has been understudied. In this study, we incorporate both the spillover effects and competition effects of foreign entrants and develop an integral framework of inward and outward investment relationship between different pairs of home and host countries. Our analysis of Venture Capital (VC) investments worldwide of 1980-2007 period shows that there is a strong connection between the inward and outward VC investments of pair countries. Moreover, this connection is contingent upon the relative stages of VC industry establishment of the pair countries, which entail various spillover effects and competition effects. When the host country is a laggard and the home country is a leader in the VC industry, the impact of inward VC investment on outward VC investment between the pair countries is the most prominent. Meanwhile, the host country's propensity to make outward VC investments to the home country will be enhanced with an increased number of co-investments between the two.

AB - The linkage between the entries of foreign firms and the international expansion of host country firms has been understudied. In this study, we incorporate both the spillover effects and competition effects of foreign entrants and develop an integral framework of inward and outward investment relationship between different pairs of home and host countries. Our analysis of Venture Capital (VC) investments worldwide of 1980-2007 period shows that there is a strong connection between the inward and outward VC investments of pair countries. Moreover, this connection is contingent upon the relative stages of VC industry establishment of the pair countries, which entail various spillover effects and competition effects. When the host country is a laggard and the home country is a leader in the VC industry, the impact of inward VC investment on outward VC investment between the pair countries is the most prominent. Meanwhile, the host country's propensity to make outward VC investments to the home country will be enhanced with an increased number of co-investments between the two.

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KW - Outward investment

KW - VC industry

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M3 - RGC 32 - Refereed conference paper (with host publication)

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THE LINKAGE BETWEEN INWARD INVESTMENT AND OUTWARD INVESTMENT IN THE VENTURE CAPITAL INDUSTRY

Abstract

Publication series

Conference

Research Keywords

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Other Access Options

Permanent Link

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Fingerprint

Douglas Nigh Memorial Best Paper Award Finalist

Cite this

THE LINKAGE BETWEEN INWARD INVESTMENT AND OUTWARD INVESTMENT IN THE VENTURE CAPITAL INDUSTRY

Abstract

Publication series

Conference

Research Keywords

Access Output

Other Access Options

Permanent Link

Other Files and Links

Fingerprint

Prizes

Douglas Nigh Memorial Best Paper Award Finalist

Cite this