Loading...
|
Please use this identifier to cite or link to this item:
https://nccur.lib.nccu.edu.tw/handle/140.119/33935
|
Title: | Venture Capital in Taiwan |
Authors: | 蘇家義 sossa,jair |
Contributors: | 沈中華 Shen ,Chung Hua 蘇家義 sossa,jair |
Keywords: | 創業投資 Venture Capital in Taiwan |
Date: | 2003 |
Issue Date: | 2009-09-17 18:51:29 (UTC+8) |
Abstract: | 這個論文的題目就是台灣的創業投資. 研究包括五家公司作創業投資. 三家公司是普通的創投公司, 一家是人壽保險公司. 最後一家是工業銀行. The venture capital investment model was established in Taiwan in 1983, following a similar scheme from the United States. Since its inception, it has played a decisive roll in the development of the high technology industry in Taiwan. It helps enterprises by providing them with capital funding, necessary for the creation of innovative projects with high potential to become successful business activities in the future.
Taiwan has one of the most developed Venture Capital markets in the world. By December 31, 1999 the aggregate number of Venture Capital firms came to 145 with a total investment of NT$ 81.1 billion.
With this thesis, an analysis of the investment strategies that five financial institutions adopt for their venture capital will be executed. A number of variables that define the framework of venture capital investing will be examined in order to have a clear picture of those investment strategies.
In one hand we will have three “traditional” Venture Capital firms which have their own criterion and procedure on why and how to do investments in this field. In the other hand, we will study other types of investors, a life insurance company and an industrial bank.
For this study, a qualitative approach was adopted. Interviews with members of those five venture capitalists’ top management team were held.
Interesting results were taken from the empirical study as it was found that not all “traditional” venture capital companies share the exactly same view on how to do venture capital investments. Results regarding the life insurance company were mostly in line with expectations as well as results from the industrial bank. |
Reference: | Ahlberg, Emil & Dahlberg, Anders (1999), Strategic issues and Activities in Venture Capital firms, Master Thesis, Chalmers University of Technology, Gothenburg, Sweden Bygrave, William D. & Timmons, Jeffry A. (1992), Venture Capital at the Crossroads, Harvard Business School, Mass., USA Cardelius, Fredrik & Lundborg, David (1999), Venture capital in Sweden, Master Thesis, School of Economics, Stockholm, Sweden Fredriksen, Ö., Olofsson, C., and Wahlbin, C. (1991), Frontiers of Entrepreneurship Research: The role of venture capital in the development of portfolio firms, Babson College.,Wellesley, Ma, USA Fried, V.H. & Hisrich, R.D. (1994), Toward a model of venture capital investment decision making. Financial Management, 23(3) Gompers, Paul. (1995), Optimal Investment, Monitoring, and the Staging of Venture Capital. Journal of Finance 50, 1461-1489. Gompers, Paul. (1994) The Rise and Fall of Venture Capital. Business and Economic History 23 (2), 1-26. Gompers, P. and J. Lerner (1998), What Drives Venture Capital Fundraising? Brookings Papers on Economic Activity (Microeconomics), 149-192. Gompers, P. and J. Lerner (1999), The Venture Capital Cycle, , MIT Press. Cambridge, Mass, USA Hellman, T. and M. Puri (2000), The Interaction between Product Market and Financing Strategy: The Role of Venture Capital, Review of Financial Studies, Vol. 13, 959-984. Holme, I. M., Solvang. B. K. (1997), Forskningsmetodik: Om kvalitativa och kvantitativa metoder. Studentlitteratur: Lund. Isaac, Robert (1998) Green logic: Ecopreneurship, Theory band Ethics: Greenleaf Publishing, Sheffield, UK Kaplan, S. and P. Stromberg (2000), Financial Contracting Theory Meets the Real World: An Empirical Analysis of Venture Capital Contracts, NBER Working Paper No. 7660. Larsson & Roosvall (2000) Overruling uncertainty - A study of venture capital decision making, Handels Vanner. Lerner, Josh (1995), Venture Capitalists and the Oversight of Private Firms published in Wright, Mike & Robbie, Ken, Venture Capital, 267-284 Lerner, Josh, (2000), Venture capital & Private equity - A case book John Wiley & Sons Inc., New York Leslie A., Philippe C. Wells, The determinants of venture capital funding: evidence across countries, Boston University School of Management, Boston, Mass, USA MacMillan, I.C., Siegal, R., & SubbaNarasimha, (1985). Criteria used by venture capitalists to evaluate new venture proposals. Journal of Business Venturing, 119-128. MacMillan, I.C., Zemann, L., & SubbaNarasimha, (1987). Criteria distinguishing successful from unsuccessful ventures in the venture screening process. Journal of Business Venturing, 123-137. MacMillan, Ian, et all (1985), ”Criteria used by venture capitalists to evaluate new venture proposals”, Journal of Business Venturing, Vol 1, 119-125. Robbie, Ken and Wright, Mike (1997), Venture Capital. Dartmouth Publishing Company Limited. Robinson, R.B., Jr. (1987) Emerging strategies in the venture capital industry. Journal of Business Venturing, 2, 53-77. Sahlman, W. A. (1988), Aspects of financial contracting in venture capital. Journal of Applied Corporate Finance 1:2, 23 -36. Sahlman, W. A. (1990), The structure and governance of venture-capital organizations. Journal of Financial Economics 27, 473-521 Shepherd, D.A. (1999). Venture capitalists’ introspection: A comparison of “in use” and “espoused” decision policies. Journal of Small Business Management, 37(2), 76-87. Timmons, J.A. (1994), New Venture Creation: Entrepreneurship for the 21st Century. Fourth Edition. Boston, Mass, USA. Zider, Bob, (1998), How venture capital works. Harvard Business Review, Volume 76, Number 6, 131-140 |
Description: | 碩士 國立政治大學 國際經營管理碩士班(IMBA) 91933033 92 |
Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0091933033 |
Data Type: | thesis |
Appears in Collections: | [國際經營管理英語碩士學程IMBA] 學位論文
|
All items in 政大典藏 are protected by copyright, with all rights reserved.
|