Configurational pathways of government venture capital and their impact on regional innovation : an empirical analysis of Chinese cities

Government venture capital (GVC) has emerged as a novel paradigm of government funding to support emerging and strategic technologies, ventures, and industries. Despite significant developments in both practice and academic discourse over recent decades, our understanding of GVC remains fragmented and limited. This thesis addresses critical gaps in GVC research through three interconnected studies to observe the effectiveness of a series of government-led measures under the logic of a strong government in a special scenario of political-business interaction. Study 1 develops an integrated framework, identifying understudied areas, and proposing future agendas. Study 2 applies the fsQCA method to Chinese urban cases, it emphasizes three configurational paths to GVC formation and reveals complementary relationships among regional enablers. Study 3 finds an inverted U-shaped GVC-innovation relationship, which is moderated by fiscal constraints and talent pool. In addition, the inverted U-shaped relationship is more pronounced in areas with lower levels of innovation activities. Theoretically, this thesis integrates GVC frameworks, introduces configurational analysis, and reveals the nonlinear GVC-innovation relationship. Practically, this thesis leverages China’s experience as a large emerging market and second-largest VC hub, it offers insights for emerging economies on leveraging GVC for regional development.

Author dc:creator

• Chen, Zuanxu

Statement dc:rights

• info:eu-repo/semantics/openAccess
• The author owns the copyright in this thesis including all reproduction and reuse rights for the work. The work may not be altered without the permission of the copyright owner. Attribution is essential when quoting or paraphrasing from this thesis.
• © 2025 Zuanxu Chen
• au.edu.uts.lib/cph

Language dc:language.iso

en_US

Handle dc:identifier.uri

http://hdl.handle.net/10453/190646

OAI identifier oai:identifier

oai:opus.lib.uts.edu.au:10453/190646