Returnees Versus Locals: Who Perform Better in China's Technology Entrepreneurship?

We examine performance differences between new ventures led by returnees and those led by their local counterparts in C hina. We argue that while, compared with locals, returnees have the advantages of higher education and overseas experience, they also have disadvantages in their home country in terms of lack of both local connections and local knowledge. Since returnees' effect on venture performance is the net effect of their advantages and...