【摘要】 根据中国中小板和创业板的风险投资数据,建立了两种风险投资网络.首先对中国风险投资网络特性进行研究,研究发现,中国的风险投资公司之间具有明显的小团体性;中国风险投资网络对于随机攻击的鲁棒性较强,但对于蓄意攻击则鲁棒性较弱.然后本文运用Girvan-Newman法分析两个风险投资网络的社团结构.研究发现,中国风险投资主要集中在北京、广东、上海以及江苏等经济发达地区.在同一地区内部,风险投资公司进行联合投资的意愿与该地区的风险投资公司多寡成反比.研究还发现,在同一子网络内部,投资于同一行业的风险投资公司之间联系紧密,在不同子网络之间且投资于同一行业的风险投资公司则相对稀疏.本文研究结果是现有文献的补充,并对地方政府更好地促进风险投资网络社团结构发展以及风险投资机构更有效地选择联合投资对象提供了一些参考和借鉴.更多还原

【Abstract】 Based on the data from Chinese GEM and SME board,this paper established two venture capital(VC)networks to study the statistical properties and community detection of the Chinese venture capital companies.The result suggests that,there is a clear community structure among the VC firms in China,and the VC networks in China are strongly robust to random attacks,but weakly robust to deliberate attacks.Next,this paper applies the Girvan-Newman method to analyze the community structure of two VC networks.It is found that venture capital companies are more concentrated in VC-clustered districts but the links within the same district is scarce as compared to the links among different VC-clustered districts,and that the venture capital companies investing in the same industry have close relations within their communities,but the inter-community links are sparse.更多还原