The Network Of Joint Investment And Investment Performance

The joint investment is defined as two or more investors invest one company at the same time, or at different cycles to invest in an established programe. In the joint investment process, Venture Capitals established social networks. With the network and collaboration in the network, Investment Institutions can enhance the investment capabilities and investment performance. There is a significant correlation between the characteristics of the investment performance of the joint investment network.From the perspective of resource-based theory, flow of resources is contained in the network of joint investment, the characteristics of each node in the network respect the ability to get resources, the acquisition of these resources affect investment performance. Different investment styles, the will to use network resources is different in these institutions, the authors in the article discusses the regulation and role of investment style mechanism.This paper reviews the research of joint investment in recent years, recognize events of joint investment between2005and2010based on the analysis of the database (involving a total of433companies and100venture capital organizations), the use of social network analysis verify that the investment performance of co-investment networks and Venture Capitals in the Chinese context, and investment style of Venture Capitals in which the relationship may play a mediate role. Hierarchical regression results showed that:the higher risk investment institutions in the intermediary position of co-investment network, and the higher the relationship between the stability of other investment institutions, the better the investment performance; role as an intermediary investment style risk investment institutions and investment performance play a positive mediate role in the relationship.