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

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  • BAT BATJARGAL

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.

Suggested Citation

  • Bat Batjargal, 2005. "Network Triads: Transitivity, Referral and Venture Capital Decisions in China and Russia," William Davidson Institute Working Papers Series wp752, William Davidson Institute at the University of Michigan.
    • Handle: RePEc:wdi:papers:2005-752
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    File URL: http://deepblue.lib.umich.edu/bitstream/2027.42/40138/3/wp752.pdf
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    Cited by:

    1. Johannes Meuer & Barbara Krug, 2011. "The Current State of Research on Networks in China’s Business System," Chapters, in: Werner Pascha & Cornelia Storz & Markus Taube (ed.), Institutional Variety in East Asia, chapter 7, Edward Elgar Publishing.

    More about this item

    Keywords

    Transitivity; triads; referral; venture capital; China; Russi;
    All these keywords.

    JEL classification:

    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • D85 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Network Formation
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • P27 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Performance and Prospects

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