by Chang Wai Kwan, Vincent. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1999. / Includes bibliographical references (leaf 157). / ABSTRACT --- p.5 / INTRODUCTION --- p.6 / METHODOLOGY --- p.11 / FOREIGN DIRECT INVESTMENT IN CHINA --- p.12 / Overview --- p.14 / China Industrial Development & Invitation to Foreign Investors --- p.18 / Driving force for China's industrial development --- p.18 / Evolution of China's industrial policy --- p.18 / China's Framework of National Industrial Policies in the 1990s --- p.20 / China's Ninth Five Year Plan (1996-2000) --- p.21 / Declining Attraction to Foreign Investors? --- p.23 / Cooling of the China Mania --- p.24 / Investment Rationale and Concerns for China Direct Investments --- p.26 / The Paradigm Change for China Direct Investment --- p.27 / How to Maintain China's Competitiveness to Foreign Investors --- p.31 / Chapter 1. --- Stable Economic and Political Environment --- p.32 / Chapter 2. --- Favourable Operating Condition --- p.37 / Chapter 3. --- Transparent Government Policy --- p.38 / Chapter 4. --- Disintegration of Government Political and Business Interests --- p.40 / The Roads Ahead for China --- p.44 / China's WTO Entry --- p.48 / China's World Trade Organisation market access concessions --- p.50 / What WTO entry means for the PRC reform process --- p.52 / To invest in China or not?! --- p.55 / VENTURE CAPITAL BASICS --- p.57 / Industry Growth in the States --- p.59 / The First Wave --- p.60 / The Subsequent Waves --- p.61 / Private Equity Investment Returns and Increasing Popularity --- p.61 / The source of venture capital funds --- p.63 / The Asian Migration --- p.66 / The Emergence of Asian Pioneers --- p.67 / The China Fund Crusaders --- p.73 / First Wave (1986- 1991) --- p.74 / Second Wave (mid-1992) --- p.75 / Third Wave (1993) --- p.76 / Fund management firms --- p.78 / What Entrepreneurs don't Know about Venture Capital --- p.79 / Common Deals Structure and Patterns of Investments --- p.81 / Looking into the Future --- p.81 / Overview of Venture Capital in China --- p.84 / Sources of Venture Capital Funding --- p.84 / Disbursement of Funds --- p.85 / Problems facing VC firms --- p.85 / Conclusion --- p.86 / THE CAPITAL GAP --- p.88 / Asian Emerging Businesses Offer Venture Capital Opportunities --- p.91 / China Business Strategy and Outlook for Venture Capitalists - a SME perspective --- p.92 / Rooting the Finance Gap for SMEs --- p.95 / What do Banks Look for in Making a Small Business Loan? --- p.96 / Venture Capital as a potential alternative financing --- p.97 / Entrepreneurs' Misconceptions for the Venture Capitalists --- p.99 / How Venture Capitalist can help --- p.100 / "Five Stages of Small Business Growth"" model" --- p.101 / Does this business idea work? --- p.102 / Scaling up business operations --- p.102 / Fostering the corporate infrastructure as a platform of growth --- p.103 / Reducing risk level and dynamic financing needs --- p.103 / Linking Financing Needs and Stages of Business Development --- p.106 / Key Investment Concerns of Venture Capitalists --- p.109 / Gap Bridging: Self-Evaluation for Business Plans --- p.111 / Key Elements in Structuring a Private Equity Deal --- p.113 / Partnering with Venture capitalists: a Win-Win situation --- p.113 / Financial Impact on Investee Company --- p.114 / Financial Impact on Investor / Shareholder --- p.115 / Appendix I: Alternative Non-Bank Financing --- p.116 / INDUSTRY ANALYSIS --- p.118 / Michael Porter's Structural Analysis of Industries --- p.120 / Michael Porter's Five-Forces Model --- p.121 / Industry Structure and Equilibrium --- p.122 / Chapter [a] --- Industry Rivalry Factors --- p.123 / Chapter [b] --- Entry Barriers --- p.126 / Chapter [c] --- Substitution Threat Determinants --- p.128 / Chapter [d] --- Suppliers (investee) Bargaining Power Determinants --- p.129 / Chapter [e] --- Buyer (venture capitalists) Bargaining Power Determinants --- p.130 / Refining Michael Porter's Model and Incorporating China Elements --- p.132 / Value and Management --- p.133 / Putting Competitive Strategy into Action --- p.136 / Legal and Regulatory Environment --- p.136 / Legal Aspects of Joint Venture Restructuring --- p.137 / Merger and Acquisitions Opportunities Ahead --- p.141 / Foreign Acquisition of State-Owned Enterprises --- p.141 / Sum Up: Legal Aspects of China Investment Projects Structuring --- p.142 / LESSONS LEARNED --- p.143 / Critical Success Factors for Venture Capital Houses Operating in China --- p.144 / Chapter 1. --- Looks for proven service concepts that can be transplanted into China --- p.144 / Chapter 2. --- Team up with local or foreign industrial partner --- p.145 / Chapter 3. --- Conduct extensive market research --- p.146 / Chapter 4. --- Legal concerns (investment retractions & regulatory frameworks).… --- p.147 / Chapter 5. --- Undertake extensive pre-acquisition due diligence --- p.147 / Chapter 6. --- Maintain active and supportive oversight of investees --- p.148 / Prescription for a Model Venture Capital Investment House --- p.148 / Road-map for a 21st Century Investment House --- p.149 / Chapter 1. --- Focused investment strategy --- p.151 / Chapter 2. --- Global direct investment presence and team-up with industrial operators --- p.152 / Chapter 3. --- Support market leaders and domestic rising star --- p.152 / Chapter 4. --- Multi-facet exit mechanism --- p.153 / Chapter 5. --- Responsive and prompt decision making process --- p.153 / Chapter 6. --- Building deal flow and entrepreneurs networks --- p.154 / Chapter 7. --- Brand recognition --- p.155 / Final Words --- p.155 / BIBLIOGRAPHY --- p.157
| Identifer | oai:union.ndltd.org:cuhk.edu.hk/oai:cuhk-dr:cuhk_322455 |
| Date | January 1999 |
| Contributors | Chang, Wai Kwan Vincent., Chinese University of Hong Kong Graduate School. Division of Business Administration. |
| Source Sets | The Chinese University of Hong Kong |
| Language | English |
| Detected Language | English |
| Type | Text, bibliography |
| Format | print, 3, xi, 157, 4 leaves, [1] leaf of folded plates : ill. (some col.) ; 30 cm. |
| Coverage | China, China, China, 1976-2000 |
| Rights | Use of this resource is governed by the terms and conditions of the Creative Commons “Attribution-NonCommercial-NoDerivatives 4.0 International” License (http://creativecommons.org/licenses/by-nc-nd/4.0/) |
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