Information Sharing and Investment Performance in the Venture Capital Network Community: An Empirical Study of Environmental-Social-Governance Start-Ups

Chaokai Xue, Xinghua Dang, Beibei Shi and Jing Gu
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Chaokai Xue: School of Economics and Management, Xi’an University of Technology, Xi’an 710054, China
Xinghua Dang: School of Economics and Management, Xi’an University of Technology, Xi’an 710054, China
Beibei Shi: School of International Trade and Economics, University of International Business and Economics, Beijing 100029, China
Jing Gu: School of Economics, Sichuan University, Chengdu 610064, China

IJERPH, 2019, vol. 16, issue 6, 1-18

Abstract: Information sharing plays a significant role in improving investment performance in the venture capital network community, which serves as an important requirement for the venture capital network to expand to the meso-level and promote its healthy development. Given the important role of Environmental-Social-Governance (ESG) start-ups in promoting sustainable development, this paper selects a sample of ESG start-ups in China to explore the relationship between venture capital network community information sharing and investment performance. We also examine the intermediary role of investment capability in this relationship. Empirical results show that venture capital network community information sharing, from both the prospective of breadth and depth, has a significant positive impact on investment performance of ESG start-ups. We also find that the investment capability, such as scouting and coaching, plays a partial intermediary role in affecting investment performance by community information sharing. This research helps to reveal the relationship between venture capital network community information sharing and investment performance. The results provide a theoretical basis and managerial insights for improving investment performance of ESG start-ups.

Keywords: environmental; social and governance (ESG); venture capital; network community; information sharing; investment performance (search for similar items in EconPapers)
JEL-codes: I I1 I3 Q Q5 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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