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"ABSTRACTUsing data for 341 enterprises listed on the Growth Enterprise Market (GEM) of the Shenzhen Stock Exchange and taking R and D expenditure as an indicator of innovation investment, this paper implements multiple linear regression to test whether venture capital promotes corporate innovation input. It also considers the relationship between the syndicated investment of venture capital and innovation input. The results show that venture capital indeed promotes R and D in the invested enterprises. The innovation input of syndicated investment enterprises is significantly higher than that of sole investment enterprises. Under syndicated investment, the higher the number of syndicated investment members and the greater the heterogeneity of the shareholding ratio among the members, the higher is the innovation input. The reputation of the syndicated investment team, however, has no significant impact on innovation input."

"[State-controlled listed companies have always dominated Chinese stock markets. As a result of the rampant scandals related to them, there have been voluminous academic efforts to explore their corporate governance, underpinned by agency costs. However, these studies have yet to examine the phenomenon from the perspective of venture capital and adaptive efficiency. During the last ten years, despite China's remarkable progress in the development of its venture capital market, its domestic venture capital has been marginalized by American competitors. Given the different performance between them, the author contends that the corporate governance system of Chinese state-controlled listed companies has hampered the performance of the institutional factors which are responsible for the prosperity of American venture capital in Chinese venture capital markets. With the practice of American venture capital as the mirror, he empirically demonstrates that Chinese domestic venture capital lacks the four factors related to the success of their American counterparts: large and independent funding, application of incentive mechanisms, efficient exit channels, and a high risk tolerance level. More importantly, these defects as a whole are closely linked to the corporate governance of state-controlled listed companies. Considering the potential negative consequences on economic and social development, the author identifies policy reforms underway to harmonize agency costs and adaptive efficiency. , State-controlled listed companies have always dominated Chinese stock markets. As a result of the rampant scandals related to them, there have been voluminous academic efforts to explore their corporate governance, underpinned by agency costs. However, these studies have yet to examine the phenomenon from the perspective of venture capital and adaptive efficiency. During the last ten years, despite China's remarkable progress in the development of its venture capital market, its domestic venture capital has been marginalized by American competitors. Given the different performance between them, the author contends that the corporate governance system of Chinese state-controlled listed companies has hampered the performance of the institutional factors which are responsible for the prosperity of American venture capital in Chinese venture capital markets. With the practice of American venture capital as the mirror, he empirically demonstrates that Chinese domestic venture capital lacks the four factors related to the success of their American counterparts: large and independent funding, application of incentive mechanisms, efficient exit channels, and a high risk tolerance level. More importantly, these defects as a whole are closely linked to the corporate governance of state-controlled listed companies. Considering the potential negative consequences on economic and social development, the author identifies policy reforms underway to harmonize agency costs and adaptive efficiency. ]"

"Tesis ini membahas tentang bagaimana inovasi yang dilakukan oleh perusahaan startup dapat memberikan pengaruh kepada Venture Capital berminat untuk memberikan dana kepada perusahaan startup tersebut. Perusahaan startup di Indonesia saat ini banyak yang berbasis teknologi.. Penelitian ini adalah penelitian kualitatif dengan pendekatan melalui Interview. Sampel penelitian ini adalah 4 perusahaan startup yang didanai oleh Venture Capital yang terdiri dari Tech in Asia, Pedals.id, Taralite, dan perusahaan yang tidak dapat disebutkan namanya (perusahaan XYZ). Interview dilakukan di berbeda waktu dan tempat oleh masing-masing narasumber dari perusahaan tersebut. Hasil penelitian yang didapat adalah jika perusahaan startup mengimplementasikan inovasinya dengan melibatkan banyak pihak di perusahaan tersebut, maka semakin tinggi juga minat dari perusahaan Venture Capital dalam memberikan pendanaan dan pendampingan manajemen berupa pemantauan dan saran yang dapat membuat perusahaan startup tersebut dapat berkembang......This thesis concerns analysis of the innovation process given by Indonesian Start-ups Invested by Venture Capital Firms or Angel Investor, whether or not the intention of Venture Capital invest, including the requirement from Venture Capitals to the start-ups in order to get the next stage of financing. As awareness of the importance of technology increased, many Indonesian start-ups was established, most of them are technology-based companies. These companies’ needs of funding are not something very easy to met. Therefore, approachment to Venture Capital or Angel Investor can be met as all the startups in order to develop and compete with others in long term. Innovation should be required in the process and could make a consideration for Venture Capital and Angel Investor to fund. This research uses qualitative method by conducting in-depth interviews. The unit of analysis are Indonesian start-ups funded by Venture Capıtals or Angel Investor. Object of analysis are 4 (four) Indonesian startups. Participants of the study are four representatives of four start-ups who occupy a strategic position to be able to understand the innovation process of each start-ups. We found that Indonesian start-ups financed by Venture Capıtals or angel investor implement their innovation by involving all of company’s stakeholder that can trigger willingness of Venture Capıtal or Angel Investor to give advice in all aspects."

"The development of mobile applications has mushroomed in local and foreign industries. This provides a tremendous opportunity for developers. For technopreneur developer, the capital to run the business is one of the biggest problems despite the fact that they may have great competence in the field. The fact that the business has big potential market in Indonesia has invited investors from local and overseas to invest as venture capital. However, due to the lack of knowledge on building collaboration with the investors and on understanding the market and investor needs in a long term, the developer finds difficulties to grow its business and to compete with bigger competitors. The research intends to seek the influence in selecting the level of revenue and market segmentation to support the investment decisions in the business of mobile applications, so that the mobile application developer is able to monetize their business to attract investors to invest in the venture capital."

"Other books present corporate finance approaches to the venture capital and private equity industry, but many key decisions require an understanding of the ways that law and economics work together. This revised and updated 2e offers broad perspectives and principles not found in other course books, enabling readers to deduce the economic implications of specific contract terms. This approach avoids the common pitfalls of implying that contractual terms apply equally to firms in any industry anywhere in the world.In the 2e, datasets from over 40 countries are used to analyze and consider limited partnership contracts, compensation agreements, and differences in the structure of limited partnership venture capital funds, corporate venture capital funds, and government venture capital funds. There is also an in-depth study of contracts between different types of venture capital funds and entrepreneurial firms, including security design, and detailed cash flow, control and veto rights. The implications of such contracts for value-added effort and for performance are examined with reference to data from an international perspective. "

"Penelitian ini bertujuan untuk melihat peran informasi akuntansi dalam keputusan investasi venture capital di perusahaan baru berbasis teknologi. Studi ini bersifat kualitatif dan eksploratori dengan perolehan bukti empiris dari wawancara yang dilakukan terhadap professional yang berkerja di perusahaan venture capital di Indonesia. Agenda diskusi utama dibagi terhadap 3 preposisi yaitu: peran stewardship laporan keuangan yang tersedia; peran valuation dari laporan keuangan yang tersedia; dan dampak asset tidak berwujud tidak tersingkap pada nilai valuasi value of investment perusahaan. Dalam temuannya, informasi akuntansi tidak memegang peran stewardship dan valuation dalam keputusan investasi yang dimiliki venture capital. Aset tidak berwujud yang tidak tersingkap juga ditemukan mempengaruhi nilai valuasi venture capital.

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This research aims to examine the role of accounting information in venture capital investment decision at technology start ups. The study is qualitative and exploratory in nature, collecting data from a series of interview with professional who works at venture capital firm in Indonesia. Discussion agenda is framed on three propositions stewardship role of accounting information from existing financial statements valuation role of accounting information from existing financial statements and assessing the impact of undisclosed intangible assets to value of investments venture capital. We find that accounting information no longer plays strong stewardship and valuation role, certainly in early stage investment for venture capital investor. We also found undisclosed intangible assets have positive correlation impact on venture capital investment value. "

"ABSTRACTThis paper uses a difference in difference model to study the impact of venture capital (VC) participation on board characteristics. Our sample includes companies listed on the growth enterprise market (GEM) on Chinas Shenzhen stock exchange over the period 2009 to 2014. Our measure of board characteristics is chief executive officer (CEO) duality, the scale of the board of directors, and the proportion of independent directors. Our empirical analysis reveals the following findings: the VC backed GEMlisted companies are more inclined to choose the mode of CEO duality and contain a large board of directors and a high proportion of independent directors. These characteristics, we find, are conducive to improving company performance."