摘要
文章利用社会网络分析方法,从密度、距离、中心度、结构洞、派系及核心-边缘结构等角度,对国内创业投资辛迪加网络的结构特征进行了实证分析。分析结果显示:中国情境下的创业投资辛迪加网络是一个非凝聚性的,且权利及地位分配极不均衡的社会网络;最为突出的创业投资机构往往处于"结构洞"的位置,并且倾向于与其他突出的创业投资机构联合;缺乏经验的创业投资机构倾向于与突出的创业投资机构进行联合投资。
Based on the social network analysis, the paper makes an em- pirical study on the structural characteristics of domestic venture capital syndicate network from the angles of density, distance, centrality, structural holes, and core-periphery structure. It demonstrates that the venture capital syndicate network in China is not cohesive, and the distribution of rights and status is extremely uneven. The most prominent venture capital funds are likely to hold the positions of structural hole and are apt to co-invest with other prominent venture capital funds. And the venture capital funds with little experience are likely to co-invest with prominent ones.
出处
《财经研究》
CSSCI
北大核心
2010年第3期46-54,共9页
Journal of Finance and Economics
基金
东南大学科技基金资助项目(XJ0614240)资助
