| 风险投资机构的网络位置对其退出方式的影响研究 |
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| 引用本文： | 党兴华,董建卫,陈蓉.风险投资机构的网络位置对其退出方式的影响研究[J].中国软科学,2011(6). |
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| 作者姓名： | 党兴华 董建卫 陈蓉 |
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| 作者单位： | 西安理工大学经济与管理学院,陕西西安,710054 |
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| 基金项目： | 国家自然科学基金资助项目(70972051); 陕西省软科学重点资助项目(2009KRZ02); 陕西省重点学科建设专项资金资助项目 |
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| 摘 要： | 对中国本土风险投资机构间的网络联结对退出方式的影响进行研究。运用清科数据库2000年1月至2009年12月的数据,研究发现风险投资机构的网络位置对退出方式有显著的影响:(1)若包含所有投资轮次,风险投资机构的网络中心性越高,通过IPO或M&A退出的可能性越大。(2)若仅包含通过IPO或M&A退出的投资轮次,风险投资机构的网络中心性越高,通过IPO退出的可能性越大。
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| 关 键 词： | 风险投资机构 网络联结 网络位置 网络中心性 退出方式 |
Study on the lmpact of Venture Capital Firms' Network Positions on Their Exit Way |
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| DANG Xing-hua,DONG Jian-wei,CHEN Rong.Study on the lmpact of Venture Capital Firms' Network Positions on Their Exit Way[J].China Soft Science,2011(6). |
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| Authors: | DANG Xing-hua DONG Jian-wei CHEN Rong |
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| Institution: | DANG Xing-hua,DONG Jian-wei,CHEN Rong(School of Economics and Management,Xi'an University of Technology,Xi'an 710054,China) |
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| Abstract: | This paper investigates the impact of network ties between China's local venture capital firms on their exit ways.Using data from Zero2IPO Database during the period from January of 2000 to December of 2009,we find that venture capital firms' network position exerts significant influence on their exit ways: if all investment rounds are included,venture capital firms with higher network centrality are more likely to exit via IPO or M&A;if just investment rounds exiting via IPO or M&A are included,the higher ... |
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| Keywords: | venture capital firm network tie network position network centrality exit way |
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