Abuse of Veto Rights in Chinese Venture Capital Investment
Abstract
China is the most vigorous wonderland for experimental endeavour, particularly in the area of innovation for high tech (hard core) and business mode (soft core). Among this innovative surge, OFO (Chinese bike-sharing company) is a good example as to how dramatic a star-up company (founded in 2014) could reach valuation of USD 4 billion in 2017 and then plummet to earth the next year in 2018. What are behind such a dramatic development are the venture capital investors who are not only witnessing but also contributing to such drama.
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