11th Annual Conference
Academic Luncheon Keynote by Professor Josh Lerner

 

America, China, and the Rise of Emerging Market Venture Capital


Global high-potential entrepreneurship was traditionally dominated by rich countries, especially the US, until the rise of China as a venture capital powerhouse. Professor Josh Lerner will discuss recent research that explores the international ramifications of China's rise using comprehensive data on global venture activities. The work suggests that this growth in emerging-market investment had wide-ranging positive consequences, including a rise in serial entrepreneurship, innovation, and broader measures of economic well-being, as well as positive spillover effects, even in sectors in which Chinese firms were less active. Taken together, the authors’ findings suggest that developing countries benefited from more "appropriate" businesses and technology pioneered by China, and that expanding leadership in global innovation beyond a handful of rich countries could have global benefits. Professor Josh Lerner will also discuss the likely impact of the very recent changes in Chinese entrepreneurship policy.

22
MAY 
2024
Wednesday
Venue: Pacific Ballroom, Level 1
Pan Pacific Singapore, 7 Raffles Boulevard, Marina Square, Singapore 039595

12:15 pm
12:30 pm
1:00 pm – 1:30 pm
Academic Luncheon Keynote by Professor Josh LERNER
Jacob H. Schiff Professor of Investment Banking, Harvard Business School, Harvard University; Co-Director of the HBS Private Capital Project

"America, China, and the Rise of Emerging Market Venture Capital"
1:30 pm – 1:50 pm
Moderated Q&A Session by Professor David M. REEB
Mr & Mrs Lin Jo Yan Professor in Banking and Finance; Head of Department, Accounting, NUS Business School, National University of Singapore and Senior Fellow of ABFER
2:00 pm


Program is subjected to change. Updated on 30 May 2024.

Speakers

  • Professor Josh LERNER

    Professor Josh LERNER

     

    Jacob H. Schiff Professor at Harvard Business School, Harvard University; Co-Director of the HBS Private Capital Project

    Josh Lerner is the Jacob H. Schiff Professor at Harvard Business School and Co-Director of the HBS Private Capital Project. Much of his research focuses on venture capital and private equity organizations. (This research is summarized in The Money of Invention, Patent Capital, and The Venture Capital Cycle.) He also has extensively examined innovation policy. (That research is discussed in the books The Architecture of Innovation, The Boulevard of Broken Dreams, The Comingled Code, and Innovation and Its Discontents.)

    He co-directs the National Bureau of Economic Research’s Productivity, Innovation, and Entrepreneurship Program and serves as co-editor of their publication, Entrepreneurship and Innovation Policy and the Economy. He founded and runs the Private Capital Research Institute, a nonprofit devoted to encouraging access to data and research, and has been a frequent leader of and participant in the World Economic Forum projects and events.

    In the 1993-1994 academic year, he introduced an elective course for second-year MBAs. Over the past two decades, “Venture Capital and Private Equity” has consistently been one of the largest elective courses at Harvard Business School. (The course materials are collected in Venture Capital and Private Equity: A Casebook, now in its fifth edition, and the textbook Venture Capital, Private Equity, and the Financing of Entrepreneurship, whose second edition recently appeared.) He also established and teaches undergraduate and doctoral courses on entrepreneurship and teaches in a wide variety of executive courses relating to venture capital, private equity, and entrepreneurship.

    He graduated from Yale College with a special divisional major. He worked for several years on issues concerning technological innovation and public policy at the Brookings Institution, for a public-private task force in Chicago, and on Capitol Hill. He then earned a Ph.D. from Harvard's Economics Department. He was recently recognized as the 37th most influential economist worldwide by research.com. For information on Josh’s compensated outside activities, please see www.bella-pm.com.

  • Professor David M. REEB

    Professor David M. REEB

     

    Mr & Mrs Lin Jo Yan Professor in Banking and Finance; Head of Department, Accounting, NUS Business School, National University of Singapore and Senior Fellow of ABFER

    David Reeb holds the Mr. and Mrs. Lin Jo Yan Professorship, with appointments in both accounting and finance. He serves as a Senior Fellow of the Asian Bureau of Finance and Economic Research (ABFER), a Fellow at the Academy of International Business (AIB), as the Director of Business Doctoral Programs in NUS Business School, and Head of Department, Accounting.
    Prof Reeb’s research interests range from founding-family ownership to the disclosure of corporate innovation, spanning the organization of accounting firms to shadow insider trading. His work has appeared in the Journal of Accounting and Economics, Accounting Review, Journal of Finance, Journal of Financial Economics, Administrative Science Quarterly, Management Science, American Economic Review, Journal of Law and Economics, and the Journal of International Business Studies. His body of research has generated over 5,000 citations in other academic works, according to Web of Science (Google Scholar 17,000+). In addition, his work has been featured in The Wall Street Journal, Business Week, The Economist, Forbes, the Financial Times, the International Herald Tribune, Inc. Magazine, SmartMoney, MSNBC, and several other leading publications in the US, Canada, and Australia. He has also been interviewed by CNN, Comcast and Bloomberg TV.

    Prof Reeb has been consistently recognised for his academic contributions. His 2003 study on founding-family firms is one of the 20 most cited articles in the Journal of Finance of all time. Similarly, his research on accounting report integrity is the most highly cited paper in the Journal of Accounting and Economics in 2004. More recently, his research on “Missing R&D” in the Journal of Accounting and Economics is the 5th most cited paper among the top 3 journals in accounting in 2015.

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Session Format

30 minutes of keynote speech and 20 minutes for Q&A.

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