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Information Sharing and Investment Performance in the Venture Capital Network Community: An Empirical Study of Environmental-Social-Governance Start-Ups

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  • Chaokai Xue

    (School of Economics and Management, Xi’an University of Technology, Xi’an 710054, China)

  • Xinghua Dang

    (School of Economics and Management, Xi’an University of Technology, Xi’an 710054, China)

  • Beibei Shi

    (School of International Trade and Economics, University of International Business and Economics, Beijing 100029, China)

  • Jing Gu

    (School of Economics, Sichuan University, Chengdu 610064, China)

Abstract

Information sharing plays a significant role in improving investment performance in the venture capital network community, which serves as an important requirement for the venture capital network to expand to the meso-level and promote its healthy development. Given the important role of Environmental-Social-Governance (ESG) start-ups in promoting sustainable development, this paper selects a sample of ESG start-ups in China to explore the relationship between venture capital network community information sharing and investment performance. We also examine the intermediary role of investment capability in this relationship. Empirical results show that venture capital network community information sharing, from both the prospective of breadth and depth, has a significant positive impact on investment performance of ESG start-ups. We also find that the investment capability, such as scouting and coaching, plays a partial intermediary role in affecting investment performance by community information sharing. This research helps to reveal the relationship between venture capital network community information sharing and investment performance. The results provide a theoretical basis and managerial insights for improving investment performance of ESG start-ups.

Suggested Citation

  • Chaokai Xue & Xinghua Dang & Beibei Shi & Jing Gu, 2019. "Information Sharing and Investment Performance in the Venture Capital Network Community: An Empirical Study of Environmental-Social-Governance Start-Ups," IJERPH, MDPI, vol. 16(6), pages 1-18, March.
    • Handle: RePEc:gam:jijerp:v:16:y:2019:i:6:p:1023-:d:215772
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    Cited by:

    1. Li Yao & Alex Singleton & Pingjun Sun & Guanpeng Dong, 2021. "The Evolution Characteristics and Influence Mechanism of Chinese Venture Capital Spatial Agglomeration," IJERPH, MDPI, vol. 18(6), pages 1-21, March.
    2. Gu, Jing & Zhang, Fujuan & Xu, Xun & Xue, Chaokai, 2023. "Stay or switch? The impact of venture capitalists' movement across network communities on enterprises’ innovation performance," Technovation, Elsevier, vol. 125(C).
    3. Guangfan Sun & Changwei Guo & Junchen Ye & Chaoran Ji & Nuo Xu & Hanqi Li, 2022. "How ESG Contribute to the High-Quality Development of State-Owned Enterprise in China: A Multi-Stage fsQCA Method," Sustainability, MDPI, vol. 14(23), pages 1-18, November.
    4. Ming Luo & Ruguo Fan & Yingqing Zhang & Chaoping Zhu, 2020. "Environmental Governance Cooperative Behavior among Enterprises with Reputation Effect Based on Complex Networks Evolutionary Game Model," IJERPH, MDPI, vol. 17(5), pages 1-18, February.

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