Does Social Capital of Venture Capital Institutions Always Promote the Performance of Entrepreneurial Enterprises?
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Does Social Capital of Venture Capital Institutions Always Promote the Performance of Entrepreneurial Enterprises?
XUE Jing1,2, CHEN Min-ling2
1. Department of Graduate School, Chinese Academy of Social Science, Beijing 102488, China; 2. School of Economics and Management, Xi’an Shiyou University, Xi’an 710065, China;
Abstract Based on CVsource and private equity database, this paper analyses data of the VC financing events from 2010 to 2017, and uses Probit and other regression analysis to test the effect of social capital on the performance of entrepreneurial enterprises at various stages. The empirical results show that the social capital of venture capital institutions has a significant positive impact on the early stage financing performance of entrepreneurial enterprises. The work experience in investment bank and political connections of venture capital institutions have a significant positive impact on the growth performance of entrepreneurial enterprises, but a negative one in maturity stage and afterwards.
XUE Jing,CHEN Min-ling. Does Social Capital of Venture Capital Institutions Always Promote the Performance of Entrepreneurial Enterprises?. Economic Survey, 2019, 36(3): 088.
2019, Vol. 36 
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