日時：2022年12月15日（木）17:15〜18:45
報告者：Giang Nguyen氏（Emlyon Business School)
タイトル：Social Network and Venture Capital Investments around the World
タイトル：Social Network and Venture Capital Investments around the World
（論文要旨）
Constructing social networks of large global venture capital (VC) firms, we find that social connections between VC firms increase their syndication likelihood, and the effect is more pronounced when the VC firm pair exhibits a larger experience gap. Importantly, VC firms that are central in social networks tend to lead investment syndicates and achieve superior performance. We document better access to deal flow and value-added services as two channels through which central VC firms improve their investment success. Overall, our results demonstrate the positive values of social networks in VC investments which is beyond what is posed by investment networks.
Keywords: Venture capital; Social network; Network centrality; Syndication; Performance
JEL Classification: G24; G41
JEL Classification: G24; G41
