Network Triads: Transitivity, Referral and Venture Capital Decisions in China and Russia
AbstractThis article examines effects of dyadic ties and interpersonal trust on referrals and investment decisions of venture capitalists in the Chinese and Russian contexts. The study uses the postulate of transitivity of social network theory as a conceptual framework. The findings reveal that referee-venture capitalist tie, referee-entrepreneur tie, and interpersonal trust between referee and venture capitalist have positive effects on referrals and investment decisions of venture capitalists. The institutional, social and cultural differences between China and Russia have minimal effects on referrals. Interpersonal trust has positive effects on investment decisions in Russia.
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Bibliographic InfoPaper provided by William Davidson Institute at the University of Michigan in its series William Davidson Institute Working Papers Series with number wp752.
Date of creation: 01 Feb 2005
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Transitivity; triads; referral; venture capital; China; Russi;
Find related papers by JEL classification:
- G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
- D85 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Network Formation
- M13 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - New Firms; Startups
- P27 - Economic Systems - - Socialist Systems and Transition Economies - - - Performance and Prospects
This paper has been announced in the following NEP Reports:
- NEP-ALL-2005-03-13 (All new papers)
- NEP-CIS-2005-03-13 (Confederation of Independent States)
- NEP-ENT-2005-03-13 (Entrepreneurship)
- NEP-FIN-2005-03-13 (Finance)
- NEP-NET-2005-03-13 (Network Economics)
- NEP-SEA-2005-03-13 (South East Asia)
- NEP-TRA-2005-03-13 (Transition Economics)
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