风险投资网络位置、投资专业化与企业创新

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Abstract This paper explores the impact of the position of venture capital network on innovation capabilities and the role of investment specialization in it.This study concludes as follows.Firstly,the position of the venture capital network has a significantly positive correlation with the innovation capacity of the invested company.Secondly,the degree of industry specialization enhances the positive impact of venture capital network position on innovation capability.Thirdly,the degree of regional specialization reduces the positive correlation of venture capital network position and innovation capability.Finally,the degree of stage specialization also dwindles this kind of positive correlation.The findings of this paper not only enrich the existing research literature about the impact of venture capital on corporate innovation,but also play some certain guiding role for venture capital practice.

Key words： Venture capital network Innovation capability Degree of specialization

Received: 12 March 2020

PACS:

F830.59

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	Articles by authors
	Jin Yonghong
	Liao Yuan
	Xi Yuqin

Cite this article:

Jin Yonghong,Liao Yuan,Xi Yuqin. VC Network Position,Specialization and Innovation Capability[J]. , 2021, 2(2): 39-50.

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http://www.zgkjlt.org.cn/EN/ OR http://www.zgkjlt.org.cn/EN/Y2021/V2/I2/39

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