风险投资机构网络中心性、知识专业化与投资绩效被引量：4

Venture Capital Firm Network Centrality,Knowledge Specialization and Investment Performance

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摘要基于我国风险投资业情境,运用CV Source数据库2005年1月1日-2014年12月31日数据,使用多元回归模型,研究了风险投资机构网络中心性对投资绩效的影响,以及知识专业化对二者间关系的调节作用。结果表明:风险投资机构网络中心性与投资绩效存在显著倒U型关系;知识专业化正向调节二者间的倒U型关系,即知识专业化水平越高,风险投资机构网络中心性对投资绩效的初始正向影响越强,而高水平网络中心性对投资绩效的负面影响越小。 Based on the situation of venture capital industry in China, this paper investigates the impact of venture capital firms＇ network centrality on investment performance, and the moderating effect of knowledge specialization in this impact. Using the sample data of CV Source database from January 1,2005 to December 31,2014, and using multiple regression model,the results show that： the relationship of the venture capital firms＇ network centrality and investment performance has significantly inverted U type; knowledge specialization positively moderates the inverted U type relationship between venture capital firmff network centrality and investment performance. That is, the higher knowledge specialization of ven-ure capital firms, the stronger the initial positive effect of venture capital firms＇ network centrality on investment performance, and the weaker the negative effect at higher levels of network centrality.

作者石琳党兴华韩瑾

机构地区西安理工大学经济与管理学院西安工业大学经济管理学院西安财经学院商学院

出处《科技进步与对策》 CSSCI 北大核心 2016年第14期136-141,共6页 Science & Technology Progress and Policy

基金国家自然科学基金面上项目(71572146) 国家社会科学基金项目(15BGL021) 陕西省教育厅专项科研计划项目(2014JK1556) 西安工业大学校长科研基金项目(XAGDXJJ1223)

关键词风险投资网络中心性知识专业化投资绩效 Venture Capital Network Centrality Knowledge Specialization Investment Performance

分类号 F832.48 [经济管理—金融学]

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