【摘要】 利用CVsource、私募通数据库,对2010—2017年间的VC融资事件进行了数据分析,运用Probit等回归分析检验了风险投资机构社会资本对创业企业各阶段绩效的影响效应。实证结果表明:风险投资机构各社会资本对创业企业的初期(融资)绩效都存在显著的正向影响;风险投资家在投行的工作经历、风险投资机构政治关联对创业企业成长绩效也存在显著的正向影响,但对其成熟期及后期的绩效有负向影响。更多还原

【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.更多还原