Full metadata record
| DC Field | Value | Language |
|---|---|---|
| dc.contributor | Faculty of Business | en_US |
| dc.contributor.advisor | Jin, Jimmy (AF) | en_US |
| dc.contributor.advisor | Xu, Xin (MM) | en_US |
| dc.creator | Wang, Peng | - |
| dc.identifier.uri | https://theses.lib.polyu.edu.hk/handle/200/13441 | - |
| dc.language | English | en_US |
| dc.publisher | Hong Kong Polytechnic University | en_US |
| dc.rights | All rights reserved | en_US |
| dc.title | University venture fund : subpar investment instrument or effective technology transfer tool? | en_US |
| dcterms.abstract | University venture capital and private equity funds (UFs) have gained popularity in recent years as vehicles for advancing university research outcomes and fostering student entrepreneurship. However, questions remain about their alignment with university missions and their actual impact on academic start-ups within innovation ecosystems. Despite their increasing adoption, the establishment and management of UFs remain largely unexplored and under-researched (Croce et al., 2014). | en_US |
| dcterms.abstract | This paper investigates the effectiveness of UFs within innovation ecosystems, employing a comprehensive global dataset spanning 285,667 investment deals involving 126,207 companies from 2000 to 2021. It explores UFs as a technology transfer policy intervention, focusing on their primary goal of propelling investees past the challenging “Valley of Death.” This is evidenced by their ability to secure subsequent financing shortly after receiving UF investment. Employing an instrumental variable to address endogeneity and benchmarking against Government Venture Capital Funds (GVCs), this research reveals that UFs offer a distinct “signalling” effect regarding the technology's content, surpassing the traditional roles of “scarcity compensation” and “certification” functions typically associated with GVCs. | en_US |
| dcterms.abstract | This unique “signalling” effect is further examined in regional innovation systems. UFs exhibit superior performance in less innovative ecosystems characterised by limited venture capital activities and moderate R&D levels, suggesting a pronounced "signalling" impact in contexts marked by heightened information asymmetry. This observation is also strengthened by findings that UFs prove counterproductive in the consumer product industry and within the American landscape, implying a weakened or even reversed "signalling" effect in environments where investors are well-informed and sophisticated. | en_US |
| dcterms.abstract | Beyond its academic significance, this study provides essential insights into the design and management of UFs. It highlights the importance of understanding ecosystem contextual factors to establish realistic expectations and tailor management frameworks that align with the intrinsic value proposition of UFs. | en_US |
| dcterms.extent | x, 111 pages : color illustrations | en_US |
| dcterms.isPartOf | PolyU Electronic Theses | en_US |
| dcterms.issued | 2024 | en_US |
| dcterms.educationalLevel | D.B.A. | en_US |
| dcterms.educationalLevel | All Doctorate | en_US |
| dcterms.LCSH | Private equity funds | en_US |
| dcterms.LCSH | Universities and colleges -- Research | en_US |
| dcterms.LCSH | Academic-industrial collaboration | en_US |
| dcterms.LCSH | Technology transfer | en_US |
| dcterms.LCSH | Hong Kong Polytechnic University -- Dissertations | en_US |
| dcterms.accessRights | restricted access | en_US |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| 7917.pdf | For All Users (off-campus access for PolyU Staff & Students only) | 1.36 MB | Adobe PDF | View/Open |
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