Partner selection in the formation of venture capital syndication: Resourceaccumulation or similarity matching?

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Science Research Management ›› 2015, Vol. 36 ›› Issue (8) : 144-151.

Wang Yuxiao^1,2, Dang Xinghua¹, Wang Xi^1,3, Luo Ji^1,4, Shi Yongli⁵

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Abstract

Using the data of CV source during the period from 2003 to 2012 and the Probit regression model, this paper reveals partner selection in the formation of venture capital syndication based on the theory of accumulation or similarity matching between the same resource. The results show that venture capital firm with resource of professional degree or network position allies with stronger partner with the same resource, the propensity of syndication will be improved; the venture capital firm with resource of capital scale allies with weaker or stronger partner with the same resource, the propensity of syndication will be improved, either based on the view of resource accumulation or similarity matching.

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resource accumulation matching / resource similarity matching / venture capital syndication / partner selection

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Wang Yuxiao, Dang Xinghua, Wang Xi, Luo Ji, Shi Yongli. Partner selection in the formation of venture capital syndication: Resourceaccumulation or similarity matching?[J]. Science Research Management. 2015, 36(8): 144-151

References

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