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This paper aims to investigate if the collaboration intensity of the company with local and international stakeholders facilitates the attracting of venture capital (VC) financing. The reputation of the company was incorporated as a factor, which can potentially influence investment decision-making. The study also aims to make a cross-national comparison of new ventures financing in two innovation regions – Chinese Zhongguancun and American Silicon Valley.

Quantitative methodology involving data gathered from 176 venture-backed as well as non-venture backed SME located in Chinese Zhongguancun and American Silicon Valley was applied. The data has been gathered through a survey. A logistic regression model has been adopted to test the hypotheses and explore relationships among concerned variables.

The results spotlight that collaboration intensity with the company’s domestic stakeholders could enhance the attractiveness of the company for external investments. Collaboration intensity with foreign stakeholders increases the likelihood of acquiring financial support only for Chinese companies. For American companies, the reputation of their stakeholders did not show a significant effect. However, positive reputation acquired from the Chinese company’s stakeholders enhances the chance of getting funding and moderates the investment effect of collaboration intensity with domestic stakeholders.

This paper unfolds that the network strength and the reputation of the SME could play the role in getting VC investment. The results are shown in two different contexts (Silicon Valley in the USA and Zhongguancun in China), characterizing the completely different cultural, legal, institutional and operating environments.

The purpose of this paper is to contribute to the understanding of similarities and differences between small and medium technology enterprises of Zhongguancun in China and Silicon Valley in the USA in the following aspects of their activities: scale, diversity and the strength of entrepreneurial networks; quality of collaboration network; reputation in the sense of stakeholders’ perception at the local market; and foreign networks.

The study uses a survey method. The analysis of variance statistical technique was applied to each aspect.

The investigation reveals that Chinese companies have more stakeholders among relatives and friends, government, universities, accounting/law, as well as collaborate more with competitors and suppliers, while the US companies have more and collaborate diverse relations with its clients. In America, companies tend to trust their partners more than they do in China. For Chinese companies, the local government appraises business more than the USA. Employees from the US companies also take more pride in telling others that they are members of the business. Domestic customers positively rate business products. Chinese companies actually have better access to foreign resources than the USA and collaborate more with their foreign stakeholders.

Understanding the distinctive features of each regional system is crucial for the success of small and medium technology enterprises for both Chinese and US entrepreneurs.

This paper is a pioneer in the comparison and analysis of the two regions.

Science and technology innovation policy has important strategic significance with respect to the promotion of an innovation orientation in our country, and the classification and measurement of regional science and technology innovation policy urgently require research attention.

In this paper, we use text mining and principal component analysis to analyze the classification and measurement of technology innovation policy based on data obtained from Zhongguancun Science Park.

The empirical results indicate that regional science and technology innovation policy can be divided into four types: authoritative, guiding, urgent and periodical. The key measurements are function type, intensity, resource supply, funding level and funding effectiveness.

A comparative analysis is performed to investigate the different types of regional science and technology innovation policy measurement. Additionally, the study’s limitations are discussed, and future research directions are proposed.

This paper aims to examine the behavioral determinants of firm research and development (R&D) investment in China by looking into the interaction between performance aspiration and industrial search.

The author argues that the performance aspiration effect is strengthened in R&D-intensive industries based on the isomorphism rationale, whereas it is weakened by high industry R&D intensity owing to the differentiation rationale. Deriving from the isomorphism and differentiation rationales, the author developed a set of competitive hypotheses and empirically tested them by using a large panel data of 6,539 company-years from China for the period 2001-2003.

First, R&D intensity is positively related to the deviation of firm performance from aspiration. Second, industry R&D intensity negatively moderates the relationship between performance aspiration and firm R&D intensity for firms performing above aspiration. Therefore, the results provide support for the differentiation rationale.

The study contributes to the ongoing research that provides and tests the behavioral explanations for R&D and innovation. By delving into the moderating role of industry R&D intensity, the author advocate the need for contextualizing performance aspiration in industrial environments. The study informs policymakers and business leaders about the interaction between the external environment and internal decision process in R&D investment decision.

The purpose of this paper is to analyze and summarize the development of science and technology (S & T) policies in China from a government-driven perspective in chronological order. To develop knowledge-based economy, China enacts a range of S & T policies since “Reform and Open Policy” started in 1978. Furthermore, it investigates the overall effects of these S & T policies on university-industry linkages (UILs).

This paper conducts an analysis framework of S & T policies in historical sequence to explain how government drives UILs to stimulate technological progress and economic growth in China.

More than a site for high-quality workforce education and knowledge spread, universities as an important part of national innovation are required to participate in economic activities. Considering that most Chinese universities are national, S & T policies with particular regard to university technology transfer would be more important and essential. This research finds that S & T policies enacted by government have made critical contributions to UILs in economic transition period, such as improving academic faculty, enhancing university–industry collaborations and supporting university spin-off formation. The experiences of China suggest that government should enact more effective S & T policies in the knowledge-based economy era.

First, universities need to educate high-level human resources that are important for economic growth and social development. Second, universities need to engage in R & D activities and enhance their collaboration with industries, such as consulting services, research contracts with industry, patent licensing and other general knowledge commercial mechanisms. Third, universities also can directly transfer commercial knowledge to start up new businesses by itself or in partnership with industrial sectors. Without doubt, a series of S & T policies or programs enacted by China’s government to drive entrepreneurship continuously played critical role in the UILs over the past 26 years.

This paper is a pioneering work on how S & T policies enacted by government drive UILs to stimulate technological progress in transitional China.

The purpose of this paper is to present a structural evaluation methodology to link key performance indicators (KPIs) into the strategy map of the balance scorecard (BSC) for Chinese science parks (CSPs). We establish the visualized strategy map with the logical links to improve the science parks’ (SPs’) performance.

Corresponding to the four BSC perspectives (finance, customer, internal process and employee learning and growth), KPIs for CSPs are synthesized and screened in the relevant literature. The application for Zhongguancun Science Park (ZSP) is provided as an example.

The research results show that the presented approach is an objective and feasible way to construct a more justifiable strategy map. The proposed framework can be applied to non-profit organizations, such as SPs.

This work provides a systematic method to establish strategy maps for SPs (non-profit organizations), based on the consideration of the intricate causal relationships among KPIs, and the analysis of the important strategic improvement paths and proposes the model of assessment of emphasizing the processes rather than outcomes.

Although the role of returnees is critical to firm innovation, the literature offers inconsistent findings regarding returnees' effect on firms' innovation performance. To reconcile this issue, the authors argue that taking the types of innovation into account – i.e. technical innovation and commercial innovation – is necessary. Thus, the purpose of this study is to examine how firms led by returnees affect the relationship between research and development (R&D) input and above two types of innovation output, as well as the contingent role of political connections (PCs) and venture capital funding (VC funding).

This study empirically tested the hypotheses using a dataset of 54,617 firm-year observations for 18,475 Chinese firms in Zhongguancun Science Park (ZSP) from 2009 to 2014.

The results show that the positive effect of R&D input on technical innovation performance (TIP) is reinforced when firms are led by returnees, while the positive effect of R&D input on commercial innovation performance (CIP) is weakened when firms are led by returnees compared with those firms led by the local counterparts. The findings further show that returnee firms' positive effect on the relationship between R&D input and technical innovation performance is more salient for firms with more PCs but weakened for those with more VC funding.

This study enriches the research on returnee firms' advantages and disadvantages in transforming R&D input into innovation performance, and the findings highlight that firms led by returnees can increase R&D efficiency of technical innovation, but reduce R&D efficiency of commercial innovation. Moreover, this study offers a contingent view of political and economic stakeholders' roles in returnee firms' innovation, by revealing PCs help returnee firms to enhance R&D efficiency in technological innovation, while venture capital can hamper such R&D efficiency.

Little attention has been given to the effects of returnee entrepreneurs on external and internal corporate social responsibility (CSR). This study aims to investigate whether returnee entrepreneurs engage in more external or internal CSR and to further explore the contingency effects of foreign market embeddedness and local government endorsement.

This study uses 11,967 startups in China to examine the relationship between returnee entrepreneurs and external and internal CSR. The authors use an ordinary least square regression and propensity scoring matching approach to analyze the data.

The empirical results show that returnee entrepreneurs are more likely to undertake external CSR but less likely to undertake internal CSR. Foreign market embeddedness and local government endorsement have opposite moderating effects on these relationships.

This study has important implications for returnee entrepreneurs’ strategic choice between external and internal CSR and also provides theoretical support for policymakers to make effective and enforceable CSR policies.

This study discusses how returnee entrepreneurs implement external or internal CSR in China, answering the call to distinguish between external and internal CSR. Drawing on a legitimacy perspective, the authors find interesting and seemingly counterintuitive effects of returnees on external and internal CSR, which also necessitates distinguishing between these two types of CSR. In addition, the authors find different moderating roles of foreign market embeddedness and local government endorsement.

This paper seeks to serve as an introduction to a networking platform called iBridge, recently launched by the administrative office of Zhongguancun Haidian Science Park (HSP) in Beijing, China. With the goal of enabling knowledge sharing and collaboration between members and businesses across the world, iBridge has evolved to include features such as communities, blogs, search, recommendation and content customization. The emergence of iBridge is viewed in the context of China's national innovation policy, paying specific attention to the role that collaboration plays as a means of fostering the exchange of ideas and innovation. The paper also aims to discuss the challenges involved in adopting this approach.

The information for this paper was gathered through visits by the author to HSP in 2006 and 2008, as well as through secondary written and web‐based sources.

The paper finds that, since its inception in 2006, the iBridge platform has incorporated many new features and increased its membership substantially. It is anticipated that Web 2.0 features, such as blogs and community forums, will encourage greater levels of innovation as iBridge membership increases.

No empirical evidence is presented in this paper to support the claim that iBridge has increased innovation. However, a greater exchange of ideas is expected, as a “network effect” takes hold and the platform grows in terms of functionality and usage.

The iBridge platform is still in its infancy, having a very limited member base. While it has started to gain notoriety in the high‐tech community within China, it has still not received much international attention. With this paper the iBridge platform will be known to a wider audience.

Generally speaking, the three‐year synchronous impact factor is larger than the two‐year one. This follows from theoretical models derived from observations based on ISIÒs database. In this article we present an exception to this general rule, based on data from the Chinese Science Citation Database (CSCD). In 1998 42% of this databaseÒs source journals did not follow the expected trend. As a possible explanation we note that, contrary to intuition, in the CSCD the changes in the number of both publications and citations are largely independent. It is, however, not ruled out that the observed discrepancies are nothing but statistical fluctuations of the basic publication‐citation model.