Entrepreneurs' access to private equity in China: The role of social capital

被引：285

作者：

Batjargal, B

Liu, MN

机构：

[1] Harvard Univ, Davis Ctr, Cambridge, MA 02139 USA

[2] Peking Univ, Guanghua Sch Management, Beijing 100871, Peoples R China

[3] Renmin Univ, Sch Finance, Beijing, Peoples R China

来源：

ORGANIZATION SCIENCE | 2004年 / 15卷 / 02期

关键词：

social networks; venture capital; entrepreneurship; China;

D O I：

10.1287/orsc.1030.0044

中图分类号：

C93 [管理学];

学科分类号：

12 ; 1201 ; 1202 ; 120202 ;

摘要：

This article examines the effect of entrepreneurs' social capital on investment decisions of venture capitalists. The empirical data is composed of 158 venture capital decisions in the People's Republic of China. We found that entrepreneurs' social capital has significant effects on investment selection decisions of venture capitalists in interaction with growth potential and technology/products of the venture. We also found that strong ties between entrepreneurs and venture capitalists have significant direct effects on investment process decisions such as contractual covenants, investment delivery, and venture valuation.

引用

页码：159 / 172

页数：14

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