| Popis: |
In VC syndication investment network, VC partners will form communities. This paper studies the mechanism and causes of China's VC cooperation from the perspective of socio-economic particularity and resource characteristics. We use C4.5 decision tree analysis to figure out why community takes shape. The result shows, region is the most important characteristic to distinguish VC communities. Capital amount is second important in Yangtze River Delta (Jiangsu, Zhejiang, and Shanghai) while institution type take second place in other regions in China. We conclude this is because of the immature projects with high risk, which require VCs to be sophisticated and localized. |
