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The Behavior of Japanese Venture Capitalists and the Role of Intellectual Capital Information
http://hdl.handle.net/10173/1782
http://hdl.handle.net/10173/1782d3269c16-e57b-49de-881f-128a3e2b94cf
| 名前 / ファイル | ライセンス | アクション |
|---|---|---|
SMS09-139.pdf (227.3 kB)
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| Item type | 会議発表論文 / Conference Paper(1) | |||||
|---|---|---|---|---|---|---|
| 公開日 | 2018-02-06 | |||||
| タイトル | ||||||
| タイトル | The Behavior of Japanese Venture Capitalists and the Role of Intellectual Capital Information | |||||
| 言語 | ||||||
| 言語 | eng | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | intellectual capital information | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | business risk | |||||
| 資源タイプ | ||||||
| 資源タイプ識別子 | http://purl.org/coar/resource_type/c_5794 | |||||
| 資源タイプ | conference paper | |||||
| 著者 |
Fu, Xin
× Fu, Xin× Chen, Guifu |
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| 抄録 | ||||||
| 内容記述タイプ | Abstract | |||||
| 内容記述 | This paper examines Japanese venture capitalists’ behavior and the role of intellectual capital information. Besides, this paper also intends to provide empirical evidence on the disclosure of intellectual capital information. Venture enterprises, in their early stage usually characterized as knowledge-intensive firm, in which knowledge instead of physical asset is the most important assets. The other characteristic is they also often lack of fund to support their development. One way to solve the problem is to get external financing from venture capitalists, which are often the main sources of fund for a venture capital corporation in Japan. Many previous studies have discussed how venture capital corporations analyze venture enterprises and how they get information needed. However there are only few studies using empirical approach to examine venture capitalists’ investment behavior and the way the intellectual capital information are used. To investigate how the intellectual capital information serves to the investment decision making of venture capitalists, we sent two copies of questionnaires for every venture capital corporation. There were total of 216 respondents (108 venture capital corporations x 2 persons), and only 50 effective answers are received (23.1% of respond rate). We used descriptive statistics and multiple regression analysis to analyze the data. The findings suggest that Japanese venture capitalists use intellectual capital information in their investment decision making process. However, even the intellectual capital information disclosed in Chitekishisan Keiei Houkokusyo (the report of intellectual capital information made according to Japanese intellectual Capital Statement by venture enterprises) is starting to be available, most of the venture capitalists seem not so prevalently use it. The respondents also reveal that the information concerning risk valuation is not so easy to be acquired and valued. Based on the multiple regression tests, we find that the ratio of intellectual capital information used by Japanese venture capitalists is significantly affected by some risk factors such as market risk, product risk, organization and strategy risk. Therefore, it can be inferred that in future, the database of intellectual capital information should provide more detail information on risk factors. | |||||
| 書誌情報 |
Society for Social Management Systems Internet Journal 巻 5, 号 1, 発行日 2009-03 |
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| ISSN | ||||||
| 収録物識別子タイプ | ISSN | |||||
| 収録物識別子 | 2432-552X | |||||
| 著者版フラグ | ||||||
| 出版タイプ | VoR | |||||
| 出版タイプResource | http://purl.org/coar/version/c_970fb48d4fbd8a85 | |||||
| 出版者 | ||||||
| 出版者 | Society for Social Management Systems | |||||
