Value cognition of new technology-based firms: An exploratory research on Chinese technology entrepreneurs and venture capitalists

Luo Guofeng; Tan Yi; Haitian Lu

doi:10.1109/WiCom.2008.1371

Value cognition of new technology-based firms: An exploratory research on Chinese technology entrepreneurs and venture capitalists

Luo Guofeng, Tan Yi, Haitian Lu

Research output: Chapter in book / Conference proceeding › Conference article published in proceeding or book › Academic research › peer-review

Abstract

In understanding the value cognition process and divergence between Chinese venture capitalists ("VC") and techno-entrepreneurs ("TE"), we classify the numerous value cognitive criteria into two types, Resource and Performance, and construct a new dependent variable "Importance of resource over performance ("IROP)" to explore the value cognition gap between Chinese VCs and TEs. Based on a survey data of 33 TEs and 27 VCs collected in China in 2007, we show that the perceived relative importance of Resource over Performance decreases along the NTBF's development stage, with both VCs and TEs allocating higher weight on Performance over Resource indicators as the NTBF grows. Furthermore, we find the gap in the perceived IROP between VCs and TEs is significant in the middle and late stages; however such difference is not significant in early stages. Our findings have implications on both the techno-entrepreneurship literature and the venture capital financing practices.

Original language	English
Title of host publication	2008 International Conference on Wireless Communications, Networking and Mobile Computing, WiCOM 2008
DOIs	https://doi.org/10.1109/WiCom.2008.1371
Publication status	Published - 31 Dec 2008
Event	2008 International Conference on Wireless Communications, Networking and Mobile Computing, WiCOM 2008 - Dalian, China Duration: 12 Oct 2008 → 14 Oct 2008

Conference

Conference	2008 International Conference on Wireless Communications, Networking and Mobile Computing, WiCOM 2008
Country/Territory	China
City	Dalian
Period	12/10/08 → 14/10/08

Keywords

New technology-based firm (NTBF)
Performance
Resource
Techno-entrepreneur (TE)
Venture capitalist (VC)

ASJC Scopus subject areas

Computer Networks and Communications
Software
Electrical and Electronic Engineering

More information

10.1109/WiCom.2008.1371

Cite this

@inproceedings{004de115686149c4b21695dc9225b50b,

title = "Value cognition of new technology-based firms: An exploratory research on Chinese technology entrepreneurs and venture capitalists",

abstract = "In understanding the value cognition process and divergence between Chinese venture capitalists ({"}VC{"}) and techno-entrepreneurs ({"}TE{"}), we classify the numerous value cognitive criteria into two types, Resource and Performance, and construct a new dependent variable {"}Importance of resource over performance ({"}IROP){"} to explore the value cognition gap between Chinese VCs and TEs. Based on a survey data of 33 TEs and 27 VCs collected in China in 2007, we show that the perceived relative importance of Resource over Performance decreases along the NTBF's development stage, with both VCs and TEs allocating higher weight on Performance over Resource indicators as the NTBF grows. Furthermore, we find the gap in the perceived IROP between VCs and TEs is significant in the middle and late stages; however such difference is not significant in early stages. Our findings have implications on both the techno-entrepreneurship literature and the venture capital financing practices.",

keywords = "New technology-based firm (NTBF), Performance, Resource, Techno-entrepreneur (TE), Venture capitalist (VC)",

author = "Luo Guofeng and Tan Yi and Haitian Lu",

year = "2008",

month = dec,

day = "31",

doi = "10.1109/WiCom.2008.1371",

language = "English",

isbn = "9781424421084",

booktitle = "2008 International Conference on Wireless Communications, Networking and Mobile Computing, WiCOM 2008",

note = "2008 International Conference on Wireless Communications, Networking and Mobile Computing, WiCOM 2008 ; Conference date: 12-10-2008 Through 14-10-2008",

}

Guofeng, L, Yi, T & Lu, H 2008, Value cognition of new technology-based firms: An exploratory research on Chinese technology entrepreneurs and venture capitalists. in 2008 International Conference on Wireless Communications, Networking and Mobile Computing, WiCOM 2008., 4679279, 2008 International Conference on Wireless Communications, Networking and Mobile Computing, WiCOM 2008, Dalian, China, 12/10/08. https://doi.org/10.1109/WiCom.2008.1371

Value cognition of new technology-based firms: An exploratory research on Chinese technology entrepreneurs and venture capitalists. / Guofeng, Luo; Yi, Tan; Lu, Haitian.
2008 International Conference on Wireless Communications, Networking and Mobile Computing, WiCOM 2008. 2008. 4679279.

Research output: Chapter in book / Conference proceeding › Conference article published in proceeding or book › Academic research › peer-review

TY - GEN

T1 - Value cognition of new technology-based firms: An exploratory research on Chinese technology entrepreneurs and venture capitalists

AU - Guofeng, Luo

AU - Yi, Tan

AU - Lu, Haitian

PY - 2008/12/31

Y1 - 2008/12/31

N2 - In understanding the value cognition process and divergence between Chinese venture capitalists ("VC") and techno-entrepreneurs ("TE"), we classify the numerous value cognitive criteria into two types, Resource and Performance, and construct a new dependent variable "Importance of resource over performance ("IROP)" to explore the value cognition gap between Chinese VCs and TEs. Based on a survey data of 33 TEs and 27 VCs collected in China in 2007, we show that the perceived relative importance of Resource over Performance decreases along the NTBF's development stage, with both VCs and TEs allocating higher weight on Performance over Resource indicators as the NTBF grows. Furthermore, we find the gap in the perceived IROP between VCs and TEs is significant in the middle and late stages; however such difference is not significant in early stages. Our findings have implications on both the techno-entrepreneurship literature and the venture capital financing practices.

AB - In understanding the value cognition process and divergence between Chinese venture capitalists ("VC") and techno-entrepreneurs ("TE"), we classify the numerous value cognitive criteria into two types, Resource and Performance, and construct a new dependent variable "Importance of resource over performance ("IROP)" to explore the value cognition gap between Chinese VCs and TEs. Based on a survey data of 33 TEs and 27 VCs collected in China in 2007, we show that the perceived relative importance of Resource over Performance decreases along the NTBF's development stage, with both VCs and TEs allocating higher weight on Performance over Resource indicators as the NTBF grows. Furthermore, we find the gap in the perceived IROP between VCs and TEs is significant in the middle and late stages; however such difference is not significant in early stages. Our findings have implications on both the techno-entrepreneurship literature and the venture capital financing practices.

KW - New technology-based firm (NTBF)

KW - Performance

KW - Resource

KW - Techno-entrepreneur (TE)

KW - Venture capitalist (VC)

UR - http://www.scopus.com/inward/record.url?scp=58049105406&partnerID=8YFLogxK

U2 - 10.1109/WiCom.2008.1371

DO - 10.1109/WiCom.2008.1371

M3 - Conference article published in proceeding or book

SN - 9781424421084

BT - 2008 International Conference on Wireless Communications, Networking and Mobile Computing, WiCOM 2008

T2 - 2008 International Conference on Wireless Communications, Networking and Mobile Computing, WiCOM 2008

Y2 - 12 October 2008 through 14 October 2008

ER -

Value cognition of new technology-based firms: An exploratory research on Chinese technology entrepreneurs and venture capitalists

Abstract

Conference

Keywords

ASJC Scopus subject areas

More information

Other files and links

Fingerprint

Cite this