Entrepreneurs’ resource background, innovation, philanthropy and the exit of external Investment in Private Ventures in China

Retaining external investment is an important task for private firms. However, the entrepreneurial financing literature has primarily focused on how to attract, instead of retain, start-up funding. Integrating social embeddedness, signaling, and strategic choice theories, we propose that entrepreneurs’ resource background, philanthropic, and innovative activities affect the exit speed of external investment for Chinese private ventures. In...