DETERMINANTS OF VENTURE CAPITAL IN THE PEARL RIVER DELTA REGION
Venture capital is an important financial institutional arrangement for technology enterprises to obtain equity capital financing, and it is an important driving force in the process of integrated collaborative innovation in the Pearl River Delta region. Therefore, it is necessary to ensure the increasing trend of venture capital investment in the Pearl River Delta region. However, there is not enough evidence to examine the factors affecting venture capital in the Pearl River Delta region, as past researchers have focused research in this area on more macro areas. Therefore, this study explored the influencing factors of venture capital investment in the Pearl River Delta region. Using the method of econometrics, the panel data of NINE (9) prefecture-level cities in the Pearl River Delta region from 2001 to 2021 are selected as samples, and the panel measurement model was constructed by using statistical software for analysis. The empirical results show that, government policy environment, financial development level, scientific and technological innovation level, human resource environment, economic development level, intermediary service organization development level and information infrastructure level had affected the development of venture capital in the Pearl River Delta region. Therefore, by integrating these attributes into the relevant environment of the region, the development of venture capital in the Pearl River Delta region will be improved.
Pearl River Delta Region, Venture Capital, Influencing Factors