网络嵌入对风险投资机构网络能力与退出绩效的调节作用研究
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摘要
基于网络嵌入理论,运用CVsource数据库的样本投资机构数据,从网络资源感知先动能力和配置利用能力两个维度,检验了网络密度、关系强度及其交互对风险投资机构网络能力与退出绩效关系的调节效应。结果表明:风险投资机构网络能力越强,其退出绩效越好;网络密度负向调节着网络能力和退出绩效的关系;关系强度正向调节着网络能力和退出绩效的关系;疏松网络中,关系强度在网络资源配置利用能力与退出绩效关系之间的正向调节效应变得更强。
Based on the theory of embedded network,using the data of venture capital firms(VC) samples from CV source database,the paper examines the moderating effects of network density,tie strength and their interaction on the relationship between the VC's network capability and their exit performance from the capability of sensing and responding first-mover to network resources and the capability of configuring and utilizing of network resources. Results show that,the stronger the VC's network capacities are,the better exit performance gets; Network density negatively moderates the relationship between VC's network capabilities and its exit performance; tie strength positively moderates the relationship between VC's network capabilities and its exit performance; the positive moderating effect of tie strength on capability of configuring and utilizing of network resources on exit performance becomes stronger in a sparse network.
Based on the theory of embedded network,using the data of venture capital firms(VC) samples from CV source database,the paper examines the moderating effects of network density,tie strength and their interaction on the relationship between the VC's network capability and their exit performance from the capability of sensing and responding first-mover to network resources and the capability of configuring and utilizing of network resources. Results show that,the stronger the VC's network capacities are,the better exit performance gets; Network density negatively moderates the relationship between VC's network capabilities and its exit performance; tie strength positively moderates the relationship between VC's network capabilities and its exit performance; the positive moderating effect of tie strength on capability of configuring and utilizing of network resources on exit performance becomes stronger in a sparse network.
引文
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[2]任胜钢,舒睿.创业者网络能力与创业机会:网络位置和网络跨度的作用机制[J].南开管理评论,2014,17(1):123-133.
[3]李纲,陈静静,杨雪.网络能力、知识获取与企业服务创新绩效的关系研究——网络规模的调节作用[J].管理评论,2017,29(2):59-68.
[4]王育晓,张晨,王曦.风险投资机构的网络能力与投资绩效——网络位置与关系强度的交互作用[J].现代财经,2018,38(2):91-101.
[5]罗吉,党兴华,王育晓.网络位置、网络能力与风险投资机构投资绩效:一个交互效应模型[J].管理评论,2016,28(9):83-97.
[6]王育晓,党兴华,张晨,等.基于扎根理论的风险投资机构网络能力影响因素研究[J].软科学,2017(10):125-129.
[7] Matusik S F,Fitza M A.Diversification in the Venture Capital Industry:Leveraging Knowledge under Uncertainty[J]. Strategic Management Journal,2012,33(4):407-426.
[8]谢洪明,陈盈,程聪.网络密度、知识流入对企业管理创新的影响[J].科学学研究,2011,29(10):1542-1548.
[9] Granovetter M S.The Strength of Weak Ties[J].American Journal of Sociology,1973,78(6):1360-1380.
[10] Burt R S.Structural Holes:The Social Structure of Competition[M].Harvard University Press,2010.
[11] Rowley T,Behrens D,Krackhardt D.Redundant Governance Structures:An Analysis of Structural and Relational Embeddedness in the Steeland Semiconductor Industries[J]. Strategic Management Journal,2000,21(3):369-386.
[12]何郁冰,张迎春.网络类型与产学研协同创新模式的耦合研究[J].科学学与科学技术管理,2015(2):62-69.