文章基于所有投资于中国境内初创企业的7151 件创业投资(以下简称"创投")事件,构建出历年来中国创投网络图,从社会网络结构角度考察中国创投业的动态演进特点,并与硅谷创投网络进行比较,研究发现: 一、中国创投网络规模在逐年增加,但是网络质量却有下滑的趋势; 二、不同所有权性质的创投机构在网络中的位置有明显的区别; 三、在合作的创投网络中,中资创投机构表现消极处于弱势地位,外资一贯积极占据网络核心,合资善于学习网络地位越来越强. 通过进一步分析,得出忽视网络建设的中资创投的快速增加,影响了中国创业投资网络质量,所以加强对经验不足的中资创投的引导就成为关键.
Abstract
Based on all 7151 investment events of venture capital (VC) on startups in China, the article built the Chinese VC network over the years. It examined the characteristics of the dynamic evolution of the Chinese VC industry from the viewpoint of social network structure and compared them with those of silicon valley. As a result, three conclusions are drawn. Firstly, despite the increasing VC network size in China, the network quality is declining. Secondly, the VC firms with different ownership have significant distinction in network position. Thirdly, in cooperative VC networks the Chinese VC firms are disadvantageous compared with foreign VC firms which positively capture the core position of the networks and with joint VC firms which gain more and more importance in network position with strong learning capability. Further analysis indicates that the rapid increase in Chinese VC firms without much emphasis on network building influences the quality of the Chinese VC networks. Hence, it is critical to give directions to the inexperienced Chinese VC firms.
关键词
创业投资 /
社会网络 /
中心度 /
凝聚子群 /
动态演进
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Key words
venture capital /
social networks /
centrality /
cohesive subgroups /
dynamic evolution
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中图分类号：
F830.59
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脚注
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基金
教育部人文社会科学青年基金(13YJC630248);广东省软科学研究计划项目(2013B070206021);中央高校基本科研业务费专项资金(2013XMS08);国家自然科学基金青年项目(41101140)
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