{"title":"The impact of venture capital on the digital industry development: evidence from China","authors":"Yan Li, Qina Zhu, Fengfu Mao","doi":"10.1111/apel.12404","DOIUrl":null,"url":null,"abstract":"<p>Promoting digital industry development is an important path to accelerating high-quality economic development. Using the net growth rate of number of digital enterprises to measure the digital industry development and the data at the city level in China from 2005 to 2016 as a sample, this study analyses the mechanisms through which venture capital impacts on digital industry development. This study finds that the increase in venture capital will promote the digital industry development. The impact of the increase in venture capital on the digital industry development is mainly achieved by reducing the exit rate of digital enterprises. In inland areas and non-city group, the increase in venture capital can significantly promote the digital industry development and the magnitude of the impact is greater.</p>","PeriodicalId":44776,"journal":{"name":"Asian-Pacific Economic Literature","volume":"38 1","pages":"93-109"},"PeriodicalIF":1.1000,"publicationDate":"2024-02-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Asian-Pacific Economic Literature","FirstCategoryId":"96","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1111/apel.12404","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
Abstract
Promoting digital industry development is an important path to accelerating high-quality economic development. Using the net growth rate of number of digital enterprises to measure the digital industry development and the data at the city level in China from 2005 to 2016 as a sample, this study analyses the mechanisms through which venture capital impacts on digital industry development. This study finds that the increase in venture capital will promote the digital industry development. The impact of the increase in venture capital on the digital industry development is mainly achieved by reducing the exit rate of digital enterprises. In inland areas and non-city group, the increase in venture capital can significantly promote the digital industry development and the magnitude of the impact is greater.
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Asian-Pacific Economic Literature (APEL) is an essential resource for anyone interested in economic development in the Asian-Pacific region. With original articles on topical policy issues, literature surveys, and abstracts of articles from over 300 journals, APEL makes it easy for you to keep ahead of the proliferating research on this dynamic and increasingly important region. Read by politicians, journalists, businesspeople, policy-makers, industrialists and academics, APEL avoids technical jargon, and is the only journal devoted to one-stop, in-depth reporting of research on the development of Asian-Pacific economies.
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