No CrossRef data available.
Article contents
Intergenerational Capital Endowments and External Funding in New Ventures: A Fuzzy-Set Qualitative Comparative Analysis
Published online by Cambridge University Press: 26 March 2025
Abstract
Failure to attract external financing is a common puzzle for start-up firms and often leads to the use of entrepreneurs' personal funding, typically with the help of their family. With little entrepreneurial experience, nascent entrepreneurs will have no factual signals to show external investors, except their characteristics or those of their family. The literature mainly focuses on the net effects of entrepreneurs' personal capital endowments in isolation on start-up capital structure despite emerging appreciation of the importance of family-related factors. However, little is known about which combinations of capital endowments across capital dimensions (i.e., human, social, and financial capital) or generations (i.e., parent and child) will likely affect the level of external funding. Drawing on signaling theory, we adopt a configurational approach to examine the compositions of intergenerational capital endowments that are sufficient to shape external funding. Conducting a fuzzy-set qualitative comparative analysis of Chinese privately owned enterprises of nascent entrepreneurs, we identify four typical family prototypes that feature intergenerational capital endowments for low external funding. Findings highlight the significance of family dynamics in China and their role in shaping new venture financing by displaying intergenerational signals.
摘要
无法吸引外部投资是初创企业面临的一个常见难题，这通常会导致企业家使用个人资本或者家庭资本。由于缺乏创业经验，新生创业者除了自己或家族的特征外，无法向外部投资者发出任何事实性信号。尽管创业领域的学者们逐渐认识到家庭相关因素的重要性，但文献中主要关注了企业家个人资本禀赋对初创资本结构的影响。然而，现有研究对于跨资本维度（即人力、社会和金融资本）或跨代际（即父辈和子辈）的资本禀赋组合如何影响新创企业外部融资水平却知之甚少。借鉴信号理论，本研究采用组态视角来研究足以影响外部融资的代际资本禀赋构型。通过对来自中国私营企业的新生创业者的数据进行模糊定性比较分析，我们确定了四种典型的家庭原型，这些原型展示了低外部融资时的创业者的家庭代际资本结构。研究结果强调了家庭动态在中国的重要性及其通过发出代际信号在影响新创企业融资中的作用。
Keywords
- Type
- Article
- Information
- Copyright
- Copyright © The Author(s), 2025. Published by Cambridge University Press on behalf of International Association for Chinese Management Research
Footnotes
*
Chenguang Hu and Peng Wang contributed equally and are listed in alphabetical order.
References
Ahlstrom, D., Young, M. N., Chan, E. S., & Bruton, G. D. 2004. Facing constraints to growth? Overseas Chinese entrepreneurs and traditional business practices in East Asia. Asia Pacific Journal of Management, 21: 263–285.Google Scholar
Aldrich, H. E., & Cliff, J. E. 2003. The pervasive effects of family on entrepreneurship: Toward a family embeddedness perspective. Journal of Business Venturing, 18(5): 573–596.Google Scholar
Alsos, G. A., & Ljunggren, E. 2017. The role of gender in entrepreneur–investor relationships: A signaling theory approach. Entrepreneurship Theory and Practice, 41(4): 567–590.Google Scholar
Au, K., & Kwan, H. K. 2009. Start–up capital and Chinese entrepreneurs: The role of family. Entrepreneurship Theory and Practice, 33(4): 889–908.Google Scholar
Bafera, J., & Kleinert, S. 2023. Signaling theory in entrepreneurship research: A systematic review and research agenda. Entrepreneurship Theory and Practice, 47(6): 2419–2464.Google Scholar
Barnir, A., & McLaughlin, E. 2011. Parental self-employment, start-up activities and funding: Exploring intergenerational effects. Journal of Developmental Entrepreneurship, 16(03): 371–392.Google Scholar
Becker, G. S., & Tomes, N. 1986. Human capital and the rise and fall of families. Journal of Labor Economics, 4(3, Part 2): S1–S39.Google ScholarPubMed
Benton, R. A., & Keister, L. A. 2017. The lasting effect of intergenerational wealth transfers: Human capital, family formation, and wealth. Social Science Research, 68: 1–14.Google ScholarPubMed
Bian, Y. 2002. Chinese social stratification and social mobility. Annual Review of Sociology, 28(1): 91–116.Google Scholar
Birtch, T. A., Au, K. Y. F., Chiang, F. F., & Hofman, P. S. 2018. How perceived risk and return interacts with familism to influence individuals’ investment strategies: The case of capital seeking and capital providing behavior in new venture financing. Asia Pacific Journal of Management, 35: 471–500.Google Scholar
Bjorklund, E. M. 1986. The Danwei: Socio-spatial characteristics of work units in China's urban society. Economic Geography, 62(1): 19–29.Google Scholar
Bolck, A., Croon, M., & Hagenaars, J. 2004. Estimating latent structure models with categorical variables: One-step versus three-step estimators. Political Analysis, 12(1): 3–27.CrossRefGoogle Scholar
Breen, R., & Jonsson, J. O. 2005. Inequality of opportunity in comparative perspective: Recent research on educational attainment and social mobility. Annual Review of Sociology, 31: 223–243.Google Scholar
Brixiová, Z., Ncube, M., & Bicaba, Z. 2015. Skills and youth entrepreneurship in Africa: Analysis with evidence from Swaziland. World Development, 67: 11–26.CrossRefGoogle Scholar
Bruton, G. D., Ahlstrom, D., & Si, S. 2015. Entrepreneurship, poverty, and Asia: Moving beyond subsistence entrepreneurship. Asia Pacific Journal of Management, 32(1): 1–22.CrossRefGoogle Scholar
Carr, J. C., Chrisman, J. J., Chua, J. H., & Steier, L. P. 2016. Family firm challenges in intergenerational wealth transfer. Entrepreneurship Theory and Practice, 40(6): 1197–1208.Google Scholar
Carter, N., Brush, C., Greene, P., Gatewood, E., & Hart, M. 2003. Women entrepreneurs who break through to equity financing: The influence of human, social and financial capital. Venture Capital, 5(1): 1–28.CrossRefGoogle Scholar
Carter, R. B., & Van Auken, H. E. 1991. Personal equity investment and small business financial difficulties. Entrepreneurship Theory and Practice, 15(2): 51–60.CrossRefGoogle Scholar
Cassar, G. 2004. The financing of business start-ups. Journal of Business Venturing, 19(2): 261–283.CrossRefGoogle Scholar
Cassar, G., & Friedman, H. 2009. Does self-efficacy affect entrepreneurial investment? Strategic Entrepreneurship Journal, 3(3): 241–260.CrossRefGoogle Scholar
Chandler, G. N., & Hanks, S. H. 1998. An examination of the substitutability of founders human and financial capital in emerging business ventures. Journal of Business Venturing, 13(5): 353–369.Google Scholar
Che, Y., & Zhang, L. 2018. Human capital, technology adoption and firm performance: Impacts of China's higher education expansion in the late 1990s. The Economic Journal, 128(614): 2282–2320.Google Scholar
Chen, A. 2002. Capitalist development, entrepreneurial class, and democratization in China. Political Science Quarterly, 117(3): 401–422.CrossRefGoogle Scholar
Chen, H., & Tian, Z. 2022. Environmental uncertainty, resource orchestration and digital transformation: A fuzzy-set QCA approach. Journal of Business Research, 139: 184–193.CrossRefGoogle Scholar
Chen, M. 2013. Intergenerational mobility in contemporary China. Chinese Sociological Review, 45(4): 29–53.Google Scholar
Chrisman, J. J., Chua, J. H., & Steier, L. P. 2003. The influence of national culture and family involvement on entrepreneurial perceptions and performance at the state level. Entrepreneurship Theory and Practice, 26(4): 113–130.CrossRefGoogle Scholar
Chu, T., & Wen, Q. 2019. Does college education promote entrepreneurship in China? Journal of Labor Research, 40: 463–486.Google Scholar
Chua, J. H., Chrisman, J. J., Kellermanns, F., & Wu, Z. 2011. Family involvement and new venture debt financing. Journal of Business Venturing, 26(4): 472–488.Google Scholar
Clough, D. R., Fang, T. P., Vissa, B., & Wu, A. 2019. Turning lead into gold: How do entrepreneurs mobilize resources to exploit opportunities? Academy of Management Annals, 13(1): 240–271.CrossRefGoogle Scholar
Colombo, O. 2021. The use of signals in new-venture financing: A review and research agenda. Journal of Management, 47(1): 237–259.Google Scholar
Crowe, E., & Higgins, E. T. 1997. Regulatory focus and strategic inclinations: Promotion and prevention in decision-making. Organizational Behavior and Human Decision Processes, 69(2): 117–132.Google Scholar
Dai, W., Liu, Y., Liao, M., & Lin, Q. 2018. How does entrepreneurs’ socialist imprinting shape their opportunity selection in transition economies? Evidence from China's privately owned enterprises. International Entrepreneurship and Management Journal, 14: 823–856.Google Scholar
Ding, Z., Sun, S. L., & Au, K. 2014. Angel investors’ selection criteria: A comparative institutional perspective. Asia Pacific Journal of Management, 31(3): 705–731.Google Scholar
Djundeva, M., Dykstra, P. A., & Emery, T. 2019. Family dynamics in China and Europe in the last half-century. Chinese Journal of Sociology, 5(2): 143–172.Google Scholar
Dwivedi, P., Joshi, A., & Misangyi, V. F. 2018. Gender-inclusive gatekeeping: How (mostly male) predecessors influence the success of female CEOs. Academy of Management Journal, 61(2): 379–404.Google Scholar
Edelman, L. F., Manolova, T. S., Brush, C. G., & Chow, C. M. 2021. Signal configurations: Exploring set-theoretic relationships in angel investing. Journal of Business Venturing, 36(2): 106086.CrossRefGoogle Scholar
Edelman, L. F., Manolova, T., Shirokova, G., & Tsukanova, T. 2016. The impact of family support on young entrepreneurs’ start-up activities. Journal of Business Venturing, 31(4): 428–448.CrossRefGoogle Scholar
Fainshmidt, S., Witt, M. A., Aguilera, R. V., & Verbeke, A. 2020. The contributions of qualitative comparative analysis (QCA) to international business research. Journal of International Business Studies, 51(1): 455–466.Google Scholar
Fang, H., Kotlar, J., Memili, E., Chrisman, J. J., & De Massis, A. 2018. The pursuit of international opportunities in family firms: Generational differences and the role of knowledge-based resources. Global Strategy Journal, 8(1): 136–157.Google Scholar
Fang, H. C., Singh, K., Kim, T., Marler, L., & Chrisman, J. J. 2022. Family business research in Asia: Review and future directions. Asia Pacific Journal of Management, 39(4): 1215–1256.Google Scholar
Festinger, L. 1954. A theory of social comparison processes. Human Relations, 7(2): 117–140.CrossRefGoogle Scholar
Fisher, G., Kuratko, D. F., Bloodgood, J. M., & Hornsby, J. S. 2017. Legitimate to whom? The challenge of audience diversity and new venture legitimacy. Journal of Business Venturing, 32(1): 52–71.CrossRefGoogle Scholar
Fiss, P. C. 2011. Building better causal theories: A fuzzy set approach to typologies in organization research. Academy of Management Journal, 54(2): 393–420.Google Scholar
Gabriel, A. S., Campbell, J. T., Djurdjevic, E., Johnson, R. E., & Rosen, C. C. 2018. Fuzzy profiles: Comparing and contrasting latent profile analysis and fuzzy set qualitative comparative analysis for person-centered research. Organizational Research Methods, 21(4): 877–904.Google Scholar
Gao, H., Darroch, J., Mather, D., & MacGregor, A. 2008. Signaling corporate strategy in IPO communication: A study of biotechnology IPOs on the NASDAQ. Journal of Business Communication, 45(1): 3–30.Google Scholar
Gartner, W. B., Frid, C. J., & Alexander, J. C. 2012. Financing the emerging firm. Small Business Economics, 39(3): 745–761.CrossRefGoogle Scholar
Gilbert, B. A., McDougall, P. P., & Audretsch, D. B. 2006. New venture growth: A review and extension. Journal of Management, 32(6): 926–950.Google Scholar
Gish, J. J., Guedes, M. J., Silva, B. G., & Patel, P. C. 2022. Latent profiles of personality, temperament, and eudaimonic well-being: Comparing life satisfaction and health outcomes among entrepreneurs and employees. Journal of Business Venturing Insights, 17: e00293.Google Scholar
Greckhamer, T., Misangyi, V. F., & Fiss, P. C. 2013. Configurational theory and methods in organizational research. Research in the Sociology of Organizations Series, 38: 49–76.Google Scholar
Greckhamer, T., Furnari, S., Fiss, P. C., & Aguilera, R. V. 2018. Studying configurations with qualitative comparative analysis: Best practices in strategy and organization research. Strategic Organization, 16(4): 482–495.CrossRefGoogle Scholar
Guo, Y., Song, Y., & Chen, Q. 2019. Impacts of education policies on intergenerational education mobility in China. China Economic Review, 55: 124–142.Google Scholar
Hansen, M. N., & Wiborg, ØN. 2019. The accumulation and transfers of wealth: Variations by social class. European Sociological Review, 35(6): 874–893.Google Scholar
Honig, B. 1998. What determines success? Examining the human, financial, and social capital of Jamaican microentrepreneurs. Journal of Business Venturing, 13(5): 371–394.CrossRefGoogle Scholar
Hu, C., Li, J., & Yun, K. H. 2023. Re-examining foreign subsidiary survival in a transition economy: Impact of market identity overlap and conflict. Journal of World Business, 58(3): 101432.CrossRefGoogle Scholar
Huang, J. 2022. Interrupted bureaucratization: The intergenerational occupation transfer in contemporary Chinese business families. Governance Studies, 38(2): 106–128. (in Chinese).Google Scholar
Kanze, D., Huang, L., Conley, M. A., & Higgins, E. T. 2018. We ask men to win and women not to lose: Closing the gender gap in startup funding. Academy of Management Journal, 61(2): 586–614.CrossRefGoogle Scholar
Ko, E. J., & McKelvie, A. 2018. Signaling for more money: The roles of founders’ human capital and investor prominence in resource acquisition across different stages of firm development. Journal of Business Venturing, 33(4): 438–454.Google Scholar
Kotha, R., & George, G. 2012. Friends, family, or fools: Entrepreneur experience and its implications for equity distribution and resource mobilization. Journal of Business Venturing, 27(5): 525–543.Google Scholar
Kubíček, A., & Machek, O. 2020. Intrafamily conflicts in family businesses: A systematic review of the literature and agenda for future research. Family Business Review, 33(2): 194–227.CrossRefGoogle Scholar
Laband, D. N., & Lentz, B. F. 1985. Favorite sons: Intergenerational wealth transfers among politicians. Economic Inquiry, 23(3): 395–414.Google Scholar
Lee, H. S., & Griffith, D. A. 2019. Social comparison in distributor–supplier relationships: Referent discrepancy effects. Journal of Marketing, 83(2): 120–137.CrossRefGoogle Scholar
Li, D. D. 1998. Changing incentives of the Chinese bureaucracy. The American Economic Review, 88(2): 393–397.Google Scholar
Li, D., Wei, L. Q., Cao, Q., & Chen, D. 2022. Informal institutions, entrepreneurs’ political participation, and venture internationalization. Journal of International Business Studies, 53(6): 1062–1090.Google Scholar
Linder, C., Lechner, C., & Pelzel, F. 2020. Many roads lead to Rome: How human, social, and financial capital are related to new venture survival. Entrepreneurship Theory and Practice, 44(5): 909–932.CrossRefGoogle Scholar
Liu, B., & Wang, P. 2023. Does Internet exposure reduce the desire for family control? Evidence from China. Technological Forecasting and Social Change, 190: 122436.CrossRefGoogle Scholar
Liu, B., Qian, G., & Au, K. Y. F. 2023. Family influence and environmental proactiveness of family firms in China: A mixed gamble perspective. Management and Organization Review, 19(2): 348–371.CrossRefGoogle Scholar
Lui, C. K., Chung, P. J., Wallace, S. P., & Aneshensel, C. S. 2014. Social status attainment during the transition to adulthood. Journal of Youth and Adolescence, 43(7): 1134–1150.Google ScholarPubMed
Liu, Y., Dai, W., Liao, M., & Wei, J. 2021. Social status and corporate social responsibility: Evidence from Chinese privately owned firms. Journal of Business Ethics, 169(4): 651–672.Google Scholar
Luo, X. R., Yang, L., & He, X. 2020. Can one stone kill two birds? Political relationship building and partner acquisition in new ventures. Entrepreneurship Theory and Practice, 44(4): 817–841.CrossRefGoogle Scholar
Malmström, M., Voitkane, A., Johansson, J., & Wincent, J. 2020. What do they think and what do they say? Gender bias, entrepreneurial attitude in writing and venture capitalists’ funding decisions. Journal of Business Venturing Insights, 13: e00154.CrossRefGoogle Scholar
Mattke, J., Maier, C., Weitzel, T., Gerow, J. E., & Thatcher, J. B. 2022. Qualitative comparative analysis (QCA) in information systems research: Status quo, guidelines, and future directions. Communications of the Association for Information Systems, 50(1): 208–240.Google Scholar
McKnight, B., & Zietsma, C. 2018. Finding the threshold: A configurational approach to optimal distinctiveness. Journal of Business Venturing, 33(4): 493–512.Google Scholar
Meuer, J., & Rupietta, C. 2017. A review of integrated QCA and statistical analyses. Quality & Quantity, 51: 2063–2083.Google Scholar
Misangyi, V. F., Greckhamer, T., Furnari, S., Fiss, P. C., Crilly, D., & Aguilera, R. 2017. Embracing causal complexity: The emergence of a neo-configurational perspective. Journal of Management, 43(1): 255–282.Google Scholar
Mitteness, C., Sudek, R., & Cardon, M. S. 2012. Angel investor characteristics that determine whether perceived passion leads to higher evaluations of funding potential. Journal of Business Venturing, 27(5): 592–606.CrossRefGoogle Scholar
Molina, J. A. 2020. Family and entrepreneurship: New empirical and theoretical results. Journal of Family and Economic Issues, 41: 1–3.CrossRefGoogle Scholar
Murray, G. C., & Marriott, R. 1998. Why has the investment performance of technology-specialist, European venture capital funds been so poor? Research Policy, 27(9): 947–976.CrossRefGoogle Scholar
Nagy, B. G., Pollack, J. M., Rutherford, M. W., & Lohrke, F. T. 2012. The influence of entrepreneurs’ credentials and impression management behaviors on perceptions of new venture legitimacy. Entrepreneurship Theory and Practice, 36(5): 941–965.CrossRefGoogle Scholar
Nee, V. 1991. Social inequalities in reforming state socialism: Between redistribution and markets in China. American Sociological Review, 56(3): 267–282.CrossRefGoogle Scholar
Nikou, S., Mezei, J., Liguori, E. W., & El Tarabishy, A. 2024. FsQCA in entrepreneurship research: Opportunities and best practices. Journal of Small Business Management, 62(3): 1531–1548.Google Scholar
Niu, T., & Wang, P. 2024. The karmic debt of pollution haven hypothesis: Subnational environmental regulatory pressure and foreign divestment from an emerging market. Journal of International Marketing, 32(2): 33–48.Google Scholar
Ong, W. J., & Johnson, M. D. 2023. Toward a configural theory of job demands and resources. Academy of Management Journal, 66(1): 195–221.CrossRefGoogle Scholar
Pappas, I. O., & Woodside, A. G. 2021. Fuzzy-set qualitative comparative analysis (fsQCA): Guidelines for research practice in information systems and marketing. International Journal of Information Management, 58: 102310.CrossRefGoogle Scholar
Park, S. H., Li, S., & Tse, D. K. 2006. Market liberalization and firm performance during China's economic transition. Journal of International Business Studies, 37: 127–147.Google Scholar
Peng, M. W. 2001. How entrepreneurs create wealth in transition economies. Academy of Management Perspectives, 15(1): 95–108.Google Scholar
Pinelli, M., Cappa, F., Franco, S., Peruffo, E., & Oriani, R. 2020. Too much of two good things: Effects of founders’ educational level and heterogeneity on start-up funds raised. IEEE Transactions on Engineering Management, 69(4): 1502–1516.Google Scholar
Plummer, L. A., Allison, T. H., & Connelly, B. L. 2016. Better together? Signaling interactions in new venture pursuit of initial external capital. Academy of Management Journal, 59(5): 1585–1604.Google Scholar
Ragin, C. C. 2008. Redesigning social inquiry: Fuzzy sets and beyond. New York: Wiley Online Library.Google Scholar
Ragin, C. C. 2014. The comparative method: Moving beyond qualitative and quantitative strategies. Berkeley: University of California Press.Google Scholar
Schneider, C. Q., & Wagemann, C. 2012. Set-theoretic methods for the social sciences: A guide to qualitative comparative analysis. New York: Cambridge University Press.Google Scholar
Shane, S., & Cable, D. 2002. Network ties, reputation, and the financing of new ventures. Management Science, 48(3): 364–381.CrossRefGoogle Scholar
Si, S., Ahlstrom, D., Wei, J., & Cullen, J. 2020. Business, entrepreneurship and innovation toward poverty reduction. Entrepreneurship and Regional Development, 32(1-2): 1–20.CrossRefGoogle Scholar
Sørensen, A. B. 2000. Toward a sounder basis for class analysis. American Journal of Sociology, 105(6): 1523–1558.CrossRefGoogle Scholar
Strauss, J. 2006. Morality, coercion and state building by campaign in the early PRC: Regime consolidation and after, 1949–1956. The China Quarterly, 188: 891–912.Google Scholar
Svetek, M. 2023. The role of entrepreneurs’ perceived competence and cooperativeness in early-stage financing. Entrepreneurship Theory and Practice, 47(6): 2047–2076.Google Scholar
Tsang, E. Y. H. 2013. The quest for higher education by the Chinese middle class: Retrenching social mobility? Higher Education, 66: 653–668.Google Scholar
Wang, L., Liu, L., & Dai, Y. 2021. Owning your future: Entrepreneurship and the prospects of upward mobility in China. Economic Modelling, 104: 105637.Google Scholar
Wang, P., & Dong, M. C. 2024. The role of performance reward discrepancies in driving dealers’ servitization. International Journal of Research in Marketing. doi:10.1016/j.ijresmar.2024.01.001Google Scholar
Wang, P., Liu, B., & Niu, T. 2023. The dynamic effects of learning: Host country experience and international joint venture termination. Industrial Marketing Management, 111: 69–80.Google Scholar
Wang, P., Liu, B., Delios, A., & Qian, G. 2023. Two-sided effects of state equity: The survival of Sino-foreign IJVs. Journal of International Business Studies, 54(1): 107–127.Google Scholar
Wu, J., An, W., Zheng, X., & Zhang, J. 2021. How business model designs influence firm growth in a transforming economy: A configurational perspective. Management and Organization Review, 17(2): 226–253.Google Scholar
Xu, X., Duan, L., & Lin, C. 2022. Early experience within tizhi system, policy perception and corporate innovation: Evidence from Chinese private firms. Emerging Markets Finance and Trade, 58(14): 3899–3912.Google Scholar
Yun, K. H., Li, J., & Hu, C. 2024. State dominance over the market: Reexamining the survival of China's state-owned enterprises. Asia Pacific Journal of Management, 41(1): 437–474.Google Scholar
Zhang, J., Zhang, L., Rozelle, S., & Boucher, S. 2006. Self-employment with Chinese characteristics: The forgotten engine of rural China's growth. Contemporary Economic Policy, 24(3): 446–458.CrossRefGoogle Scholar
Zhang, M., & Du, Y. Z. 2019. Qualitative comparative analysis (QCA) in management and organization research: Position, tactics, and directions. Chinese Journal of Management, 16(9): 1312–1323. (in Chinese).Google Scholar
Zhao, L. 2002. From cadre managers to private entrepreneurs: Entry into family business in rural China. Research in Social Stratification and Mobility, 19: 313–337.CrossRefGoogle Scholar
Zhou, J., Ge, L. G., Li, J., & Chandrashekar, S. P. 2020. Entrepreneurs’ socioeconomic status and government expropriation in an emerging economy. Strategic Entrepreneurship Journal, 14(3): 396–418.Google Scholar
Zhou, W. 2014. Regional institutional development, political connections, and entrepreneurial performance in China's transition economy. Small Business Economics, 43(1): 161–181.Google Scholar
Zhou, W. 2017. Institutional environment, public-private hybrid forms, and entrepreneurial reinvestment in a transition economy. Journal of Business Venturing, 32(2): 197–214.Google Scholar
Zhou, X., & Xie, Y. 2019. Market transition, industrialization, and social mobility trends in postrevolution China. American Journal of Sociology, 124(6): 1810–1847.Google Scholar
Zhou, X., Tuma, N. B., & Moen, P. 1996. Stratification dynamics under state socialism: The case of urban China, 1949–1993. Social Forces, 74(3): 759–796.Google Scholar