论文题目：Can Governments Foster the Development of Venture Capital?
论文摘要：Exploring a novel dataset and a unique policy experiment, this paper examines the role of government intervention in the emergence of venture capital (VC) in China during 1999-2013. Using difference-in-difference methodology, I find that the central government program leads to an increase in local investment from both government and private VCs, which doubles the number of successful companies. The positive impact is most pronounced in relatively less developed regions and during the early development of the VC sector. I present two micro-level transmission channels of the crowding-in effects, through networks formed by previous investments and through co-ownership in VC affiliates.
报告人简介：费越，2013年毕业于中央财经大学中国经济与管理研究院数理经济与数理金融实验班，2019年毕业于法国图卢兹经济学院（Toulouse School of Economics），获得经济学博士学位。目前在美国北卡大学教堂山分校凯南-弗拉格勒商学院从事博士后研究，研究领域为corporate finance，entrepreneurship。