Start–Up Capital and Chinese Entrepreneurs: The Role of Family
研究中国初创企业初始资本结构，发现家庭资金并非主要来源，仅在预期交易成本低且家庭干预少时，企业家才向家庭融资。
This paper examines the formation of the initial capital structure of Chinese start–up firms. Contrary to the predominant view of Chinese family business, this study found that family funding is not the major source of start–up capital under certain conditions. Employing two surveys conducted separately in Hong Kong and the mainland of the People's Republic of China, it was revealed that Chinese entrepreneurs seek initial funding from their family rather than from outsiders only if they expected lower transaction costs and lower levels of family interference in the business. The implications of the findings for entrepreneurship of ethnic Chinese communities in East Asia are discussed.