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Resilience Through Collaborative Networks in Emerging Economies: Evidence from Chinese Venture Capital

In: Collaborative Innovation Networks

Author

Listed:
  • Yuhong Zhou

    (South China University of Technology)

  • Peter A. Gloor

    (Massachusetts Institute of Technology)

  • Stephanie L. Woerner

    (Massachusetts Institute of Technology)

Abstract

The high-speed growth of emerging economies attracts the attention of global investors, but the uncertain institutional environment in emerging and transitional economies makes investors uneasy. Using China’s venture capital (VC) data, this article examines the performance consequences of differences in ownership between foreign and local investors, and network position established when VC firms (VCs) syndicate portfolio company investments. There is a phenomenon of separate institutional settings between China’s local VCs and foreign VCs in China, which makes ownership significantly affect investment performance. The VCs’ positions in the collaborative networks can play a mediating role; foreign VCs have better investment performance because of their more central-network position. Better-networked VCs can supplement or replace formal institutions in transitional economies.

Suggested Citation

  • Yuhong Zhou & Peter A. Gloor & Stephanie L. Woerner, 2018. "Resilience Through Collaborative Networks in Emerging Economies: Evidence from Chinese Venture Capital," Studies on Entrepreneurship, Structural Change and Industrial Dynamics, in: Francesca Grippa & João Leitão & Julia Gluesing & Ken Riopelle & Peter Gloor (ed.), Collaborative Innovation Networks, pages 25-38, Springer.
    • Handle: RePEc:spr:seschp:978-3-319-74295-3_3
    DOI: 10.1007/978-3-319-74295-3_3
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    Cited by:

    1. Bruna, Maria Giuseppina & Nicolò, Domenico, 2020. "Corporate reputation and social sustainability in the early stages of start-ups: A theoretical model to match stakeholders' expectations through corporate social commitment," Finance Research Letters, Elsevier, vol. 35(C).

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