Network Triads: Transitivity, Referral and Venture Capital Decisions in China and Russia

Bat Batjargal ()

No wp752, William Davidson Institute Working Papers Series from William Davidson Institute at the University of Michigan

Abstract: This article examines effects of dyadic ties and interpersonal trust on referrals and investment decisions of venture capitalists in the Chinese and Russian contexts. The study uses the postulate of transitivity of social network theory as a conceptual framework. The findings reveal that referee-venture capitalist tie, referee-entrepreneur tie, and interpersonal trust between referee and venture capitalist have positive effects on referrals and investment decisions of venture capitalists. The institutional, social and cultural differences between China and Russia have minimal effects on referrals. Interpersonal trust has positive effects on investment decisions in Russia.

Keywords: Transitivity; triads; referral; venture capital; China; Russi (search for similar items in EconPapers)
JEL-codes: D85 G24 M13 P27 (search for similar items in EconPapers)
Pages: pages
Date: 2005-02-01
New Economics Papers: this item is included in nep-cis, nep-ent, nep-fin, nep-net, nep-sea and nep-tra
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:wdi:papers:2005-752

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