IMPACT OF THE LACK OF INSTITUTIONAL DEVELOPMENT ON THE VENTURE CAPITAL INDUSTRY IN THAILAND

In this paper we analyze the development of venture capital in Thailand. We use institutional theory in order to better understand the context of developing venture capital investment and operations strategies in a developing country, which lacks fully-developed legal and financial institutions. The major challenges for venture capitalists are maintaining a viable presence and exiting their investments through alternatives other than an IPO.Venture capital, transition economies, institutional theory