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Financing young high tech companies in Japan: The role of Japanese venture capital managers

18.11.2008 | 18:30

Nikolaus Raupp

Abriss

Since the end of the 1990s the Japanese venture capital market has undergone some enormous institutional changes. Many new independent venture capital firms with a specialised focus and new investment strategies have entered the market and through deregulation new risk management approaches have now become available in Japan.

Regarding these changes I want to answer following questions:

  • How does this new investment environment influence the investment decision of Japanese venture capital managers?
  • What are the main reasons for the difficulties of financing young high tech companies in Japan and will there be an improvement in the near future?
  • Is it still fair to criticise Japanese venture capital firms for inefficient investment behaviour as it is done by Japanese as well as by Western authors?

To answer these questions I analyse the risk perception of Japanese venture capital managers. Collecting quantitative data by interviewing Japanese venture capital professionals I focus on the relationship between individual professional experiences, risk perception, risk management approaches and investment behaviour.

My presentation will consist of three parts: First I will give a short introduction about venture capital in Japan and how it is reviewed. Second I will present the theoretical background and my research design, before I will finally discuss my latest results in the third part of my presentation.


CV: Nik Raupp is a PhD candidate at the University of Duisburg-Essen and currently a doctoral research fellow at the DIJ. He studied Economics and Japanese Studies at University of Bonn and at Keio University.

Koordination: Florian Kohlbacher; Volker Elis

Veranstaltungsort

Deutsches Institut für Japanstudien
Jochi Kioizaka Bldg. 2F
7-1 Kioicho, Chiyoda-ku
Tokyo 102-0094, Japan
Tel: 03 - 3222 5198, Fax: 03 - 3222 5420

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