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An exploratory study of business angels in China: a research note

Author

Listed:
  • Yaokuang Li
  • Shuoyuan Jiang
  • Dan Long
  • Huidao Tang
  • Juan Wu

Abstract

There have been a number of studies shedding light on the characteristics of business angels and their investment behavior across the world, but few are in the Chinese context. This study provides an initial profile of Chinese business angels via a questionnaire survey. Based on a sample of 78 respondents, this paper describes the characteristics and investment behavior of business angels in China. An international comparison is made between the findings reported in this paper and those from the USA, the UK, Japan, Singapore, the Philippines, and Thailand. Chinese business angels are comparable to those in foreign countries in terms of age, educational background and business experience. The key differences lie in the fact that Chinese business angels are not all high net worth individuals and are less involved in hands-on involvement, having large-sized investments and co-investing in many of the deals within their cities with a short holding period.

Suggested Citation

  • Yaokuang Li & Shuoyuan Jiang & Dan Long & Huidao Tang & Juan Wu, 2014. "An exploratory study of business angels in China: a research note," Venture Capital, Taylor & Francis Journals, vol. 16(1), pages 69-83, January.
    • Handle: RePEc:taf:veecee:v:16:y:2014:i:1:p:69-83
    DOI: 10.1080/13691066.2013.833370
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    Cited by:

    1. Li, Changhong & Shi, Yulin & Wu, Cong & Wu, Zhenyu & Zheng, Li, 2016. "Policies of promoting entrepreneurship and Angel Investment: Evidence from China," Emerging Markets Review, Elsevier, vol. 29(C), pages 154-167.
    2. William Scheela & Edmundo Isidro & Thawatchai Jittrapanun & Nguyen Trang, 2015. "Formal and informal venture capital investing in emerging economies in Southeast Asia," Asia Pacific Journal of Management, Springer, vol. 32(3), pages 597-617, September.
    3. Cumming, Douglas & Zhang, Yelin, 2016. "Alternative investments in emerging markets: A review and new trends," Emerging Markets Review, Elsevier, vol. 29(C), pages 1-23.
    4. Inda Arfa Syera & Masnia Nasution & Andri Zainal, 2018. "Angel Investors in Indonesia’s Creative Industry: Profile and Role," International Journal of Academic Research in Business and Social Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Business and Social Sciences, vol. 8(7), pages 554-564, July.
    5. Bonini, Stefano & Capizzi, Vincenzo & Valletta, Mario & Zocchi, Paola, 2018. "Angel network affiliation and business angels' investment practices," Journal of Corporate Finance, Elsevier, vol. 50(C), pages 592-608.
    6. Yaokuang Li & Li Ling & Daru Zhang & Juan Wu, 2021. "Lead investors and information disclosure: A test of signaling theory by fuzzy‐set qualitative comparative analysis approach," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 42(4), pages 836-849, June.

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