Private Equity Development in Emerging Asian Markets: Impact of Foreign Direct Investment, IPOs, R&D, and Patents

• 발행기관: People & Global Business Association
• 저자명: Jihyeon Rhie Jongho Lee Gukdo Byun Ye Dai Junghwan Lee
• 간행물 정보: 『Global Business and Finance Review』Vol.30 No.7, 92~106쪽, 전체 15쪽
• 주제분류: 경제경영 > 경영학
• 파일형태: PDF
• 발행일자: 2025.07.31

국문 초록

Purpose: This study aims to explore the key drivers influencing private equity fund (PE) development in emerging Asian markets. To analyze the unique factors specific to these markets, we compare them with developed markets. Design/methodology/approach: We analyzed panel data from 13 developed and 8 Asian markets between 2011 and 2020. Market growth, GDP, foreign direct investment (FDI), R&D spending, patents, and initial public offering (IPO) were considered factors affecting PE fund development. Findings: Market growth did not significantly impact PE fund growth in either market. GDP and FDI were neg-atively associated with PE fund growth in Asian markets. Patents had contrasting effects: a negative impact on PE fund growth in Asian markets and a positive effect in developed markets. R&D did not significantly influence PE fund growth in either market. IPO activity had a significant positive influence on PE fund development in both regions. Research limitations/implications: The findings imply that strategies for fostering PE fund development may need to be tailored to the specific characteristics of different regions. However, the analysis grouped 8 Asian markets together, potentially overlooking country-specific factors that influence PE fund development. Originality/value: These results highlight GDP, FDI, and patents as critical factors differentiating PE fund develop-ment in Asian markets from that in developed ones. By examining these unique drivers, this study provides valuable insights for stakeholders, particularly as investment in Asian markets continues to rise, and contributes to a deeper understanding of PE fund markets.

목차

I. Introduction

II. Hypothesis Development

III. Methodology

IV. Results

V. Conclusion

VI. Limitations and Further Directions

References

키워드

Private Equity Fund (PE) Foreign Direct Investment (FDI) Patent Emerging Asian Market Developed Western Market