Dynamics of Venture Capital Syndication : Perspective of Information
Syndication develops an increasing social network of venture capitals (VC). On one hand, information channel to the center of network. On the other hand, firms in the center are faced with redundant information. Using the evidence from China, we investigate the dynamics of syndication network with the perspective of information. The position of a firm in the network exerts a curvilinear effect on its strategy of syndication in the future. Specifically, less-centered firms focus more on the quantity of information and are prone to gather information by syndication (especially with familiar partners). Contrarily, the top centered firms focus more on information diversity and are prone to operate solo or to syndicate with new partners. Furthermore, cross-clique syndication improves VC firm's performance. In addition, the ownership and experience of VC firms affects the curvilinear relationship
Year of publication: |
2019
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Authors: | Chen, Rong |
Other Persons: | Qiu, Zhiyi (contributor) |
Publisher: |
[2019]: [S.l.] : SSRN |
Subject: | Risikokapital | Venture capital | Asymmetrische Information | Asymmetric information | Unternehmenskooperation | Inter-firm cooperation | Theorie | Theory | Unternehmensgründung | Business start-up |
Saved in:
freely available
Extent: | 1 Online-Ressource (25 p) |
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Type of publication: | Book / Working Paper |
Language: | English |
Notes: | Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments October 26, 2019 erstellt |
Other identifiers: | 10.2139/ssrn.3475874 [DOI] |
Classification: | G24 - Investment Banking; Venture Capital; Brokerage |
Source: | ECONIS - Online Catalogue of the ZBW |
Persistent link: https://www.econbiz.de/10012860497
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