Formation of Chinese venture capital syndication network
Formation of Chinese venture capital syndication network
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DOI：
10.1007/s42973-020-00055-7
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发表时间：
2020-09
期刊：
影响因子：
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通讯作者：
Makoto Nirei;T. Shoji;Fei Yu
中科院分区：
文献类型：
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作者：
Makoto Nirei;T. Shoji;Fei Yu
使用记录了1991年至2018年中国大量投资交易的数据集，我们研究了中国风险投资（VC）联合网络的统计特性。我们的主要发现如下。首先，2014年后投资交易数量急剧增加。其次，超过一半的风险投资公司位于北京，上海和深圳。第三，度分布在双对数图上变得大致直。第四，2015年和2016年的度分布服从幂律分布的假设没有被拒绝。第五，更好的连接VC公司增加他们的连接速度更快，这表明存在的优惠连接。
Using a dataset that recorded a large number of investment transactions in China from 1991 to 2018, we examine the statistical properties of the Chinese venture capital (VC) syndication network. Our main findings are as follows. First, the number of investment transactions sharply increased after 2014. Second, more than half of the VC firms are located in Beijing, Shanghai, and Shenzhen. Third, the degree distribution becomes roughly straight on a log–log plot. Fourth, the hypothesis that the degree distribution follows a power-law distribution is not rejected for 2015 and 2016. Fifth, better connected VC firms increase their connectivity faster, which suggests the existence of preferential attachment.