Title: Understanding venture capital investment decision making in biotech industry: a case of Taiwan

Authors: Shiow-Ying Wen, Ching-Hung Huang

Addresses: Department of Business Administration, Chang Gung University, 259 Wen-Hwa 1st Road, Kwei-Shan, Tao-Yuan, Taiwan. ' EUMED Biotech. Co., Ltd., 4F 131, Bei-Hsin Rd. Sec.1, Hsin-Dien, Taipei County 231, Taiwan

Abstract: This paper aims to investigate the key investment decision-making factors used by the Taiwanese venture capitalists to evaluate the venture in biotech industry. A questionnaire is developed and a factor analysis is conducted. Empirical results suggest that venture capitalists care more about the ability of the management team rather than about other factors when they evaluate an investment project.

Keywords: venture capital; investment decision making; factor analysis; biotech industry; biotechnology; capital investment; Taiwan; management team.

DOI: 10.1504/IJMED.2005.006571

International Journal of Management and Enterprise Development, 2005 Vol.2 No.3/4, pp.427 - 440

Published online: 21 Mar 2005 *

Full-text access for editors Access for subscribers Purchase this article Comment on this article