Chun Zhao

Chun Zhao is a PhD candidate in Finance at Stanford University Graduate School of Business. His current research interests include corporate finance, political economy, and development. He completed his undergraduate degree in Economics with a minor in Law at Tsinghua University. During his undergraduate studies, he spent a gap year visiting the Booth School of Business at the University of Chicago.

Development

The Foreignness of Africa’s Startup Ecosystem

Emanuele Colonnelli

Startups in Africa rely heavily on an equity market dominated by foreign investors and founders who studied or worked outside the continent. In new research, Emanuele Colonnelli, Marcio Cruz, Mariana Pereira-Lopez, Tommaso Porzio and Chun Zhao show that this dynamic exists because local equity is expensive, the pool of local entrepreneurs seeking out funding is small, and local entrepreneurs have limited access to foreign investors.

Chun Zhao

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