风险投资机构网络凝聚性与投资绩效关系研究

doi:10.6049/kjjbydc.2019040231

科技进步与对策

2019, Vol. 36

Issue (20): 11-20 DOI: 10.6049/kjjbydc.2019040231

科技管理创新

本期目录 | 过刊浏览 | 高级检索

风险投资机构网络凝聚性与投资绩效关系研究

杨艳萍,刘窈君

（河南工业大学管理学院，河南郑州 450001）

Research on the Relationship between Network Cohesion and Investment Performance of Venture Capital Firms

Yang Yanping,Liu Yaojun

(School of Management, Henan University of Technology, Zhengzhou 450001，China)

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相关文章 (8)

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摘要基于社会网络和资源基础观视角，提出代表风险投资机构资源属性的两个要素，即组织力、地位。以Wind数据库所搜集的439家风险投资机构为样本，实证风险投资机构网络凝聚性和资源属性对投资绩效的直接效应与调节效应。结果发现：机构网络凝聚性与投资绩效呈显著负向关系；机构组织力、地位均能显著促进投资绩效提升；机构组织力显著负向调节网络凝聚性与投资绩效的关系；机构地位显著正向调节网络凝聚性与投资绩效的关系；机构组织力和地位共同决定了网络凝聚性对投资绩效的影响。因此，机构应及时剔除无用的冗余联系，优化与合作伙伴的关系；努力提高自身控制必备资源的能力并改善自身在网络中的位置；权衡自身资源属性与网络凝聚性的相互关系，联合考虑自身资源与所处投资环境，从而最终实现提升投资绩效的目标。

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	杨艳萍
	刘窈君

关键词 ：风险投资机构, 网络凝聚性, 资源属性, 投资绩效

收稿日期: 2019-08-22

ZTFLH:

F830.59

基金资助:国家社会科学基金项目（16BGL026）

作者简介: 杨艳萍(1968-)，女，河南汝南人，博士，河南工业大学管理学院教授、博士生导师，研究方向为风险投资与风险管理；刘窈君(1993-)，女，河南南阳人，河南工业大学管理学院博士生，研究方向为风险投资管理。

引用本文:

杨艳萍,刘窈君. 风险投资机构网络凝聚性与投资绩效关系研究[J]. 科技进步与对策, 2019, 36(20): 11-20.
Yang Yanping,Liu Yaojun. Research on the Relationship between Network Cohesion and Investment Performance of Venture Capital Firms. SCIENCE & TECHNOLOGY PROGRESS AND POLICY, 2019, 36(20): 11-20.

链接本文:

http://www.kjjb.org/CN/10.6049/kjjbydc.2019040231 或 http://www.kjjb.org/CN/Y2019/V36/I20/11

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