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

Chen, Zuanxu

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

Chen, Zuanxu

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Publication Type:: Thesis
Issue Date:: 2025

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Field	Value	Language
dc.contributor.author	Chen, Zuanxu
dc.date.accessioned	2025-11-10T22:44:44Z
dc.date.available	2025-11-10T22:44:44Z
dc.date.issued	2025
dc.identifier.uri	http://hdl.handle.net/10453/190646
dc.description	University of Technology Sydney. Faculty of Business.	en_US.UTF-8
dc.description.abstract	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.	en_US.UTF-8
dc.format	Thesis (PhD)
dc.language.iso	en_US	en_US.UTF-8
dc.relation	https://opus.lib.uts.edu.au/bitstream/10453/190646/1/thesis.pdf
dc.rights	info:eu-repo/semantics/openAccess
dc.rights	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.
dc.rights	© 2025 Zuanxu Chen
dc.rights	au.edu.uts.lib/cph
dc.title	Configurational pathways of government venture capital and their impact on regional innovation : an empirical analysis of Chinese cities	en_US.UTF-8
dc.type	Thesis
utslib.copyright.status	open_access	*

Abstract:

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.

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