有限合伙人网络位置对创投机构网络位置的影响

The Effect of Limited Partners' Network Position on Venture Capital Firms' Network Position

通过私募通数据库搜集2003-2015年相关数据,研究有限合伙人网络位置对创投机构网络位置的影响。实证结果显示:(1)有限合伙人的网络中心性对创投机构的网络中心性存在显著正向影响;(2)有限合伙人与创投机构的关系强度正向调节上述影响。研究同时发现,与处于网络中心位置的有限合伙人建立并保持强关系,有助于创投机构占据网络中心位置。

This paper investigates the effect of limited partners＇ network position on venture capital firms＇ network position.Based on the data collected from PE data between 2003 to 2015,we find that limited partners＇ network centrality has positive influence on venture capital firms＇ network centrality and tie strength positively moderate the relationship between them.These findings suggest that establishing ties with limited partners in central position and keep it strong can help venture capital firms to obtain central position in syndication network.