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Title: The emergence of venture capital industry in Pakistan : an institutional approach
Author: Khan , Muhammad Zubair
Awarding Body: Queen's University Belfast
Current Institution: Queen's University Belfast
Date of Award: 2013
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Extant literature on venture: capital (Ve) emergence and related government support have been generally unsophisticated, particularly in developing countries. They do not provide the means to comprehend the interplay between institutional structures and human agency within newly emerging VC markets in developing countries context. This makes difficult to understand the evolving patterns of VC markets and design efficient policy in those contexts. The present study uses multi-level unit of analysis and multiple theoretical constructs to scrutinise the inter- and intra-dependencies between different structures, mechanisms, processes, and actions in the VC market of Pakistan, as a developing country case site, to enable developing an understanding of the underlying phenomena. Using institutional theory, interpretivist epistemology, grounded and abductive logics, and single case study method, the study proposes an Institutional Model of VC emergence and an Institutional Framework for government intervention that encompass the emergent comprehension of the underlying phenomena in context of Pakistan. The Institutional Model suggests that regulatory, normative, and cognitive structures together with general conditions e.g. political and educational, determine core conditions and preconditions of the VC market that in tum determine the scale and patterns of VC activity. Structures also directly influence the patterns of VC activity. At a more abstract level, structures generate different sets of mechanisms that in turn intervene, institutionalise, and constitute human agency in the VC organizational field. Based on the substance provided by the Institutional Model of VC emergence, the Institutional Framework for government intervention suggests three-stage practical steps - create, grow, and sustain - to develop VC markets in the context of a developing country such as Pakistan.
Supervisor: Not available Sponsor: Not available
Qualification Name: Thesis (Ph.D.) Qualification Level: Doctoral
EThOS ID:  DOI: Not available