Research On The Knowledge Transfer Mechanism Of Venture Capitalists In The Syndication Network Of Venture Capital

Venture Capital provides a large number of social venture capital and various value-added services for the rapid development of high-tech enterprises; the forming of syndicate network provides a long-term momentum for sustainable development.The knowledge-learning behavior of Venture capital institutions improves the ability to identify investment opportunities and the capacity utilization resources, while improving the operational efficiency of the network. Therefore the syndication network and the knowledge-transfer of venture capitalists have the relationship of mutual influence.First the correlative research about "knowledge transfer" and "the learning act in business alliance" are reviewed. Furthermore, the game model of the leading investor and the following investor is established. The author then analyses the impact of syndication network on the knowledge transfer act between Venture capital institutions in both strong relationship network and the weak relationship network. The research results are achieved by taking advantage of the game theory. The following research results are achieved:(1) Propose assumptions and the cost-benefit function on the basis of preceding main results. Besides, extract the key factors from the syndication network and venture capital institutions.(2)Respectively in strong relation network making evolutionary game analysis, to build a pay-off matrix obtained by affecting knowledge transfer system evolution path and the evolutionary stable strategy variables, the key parameters of plane through game theory for the system phase diagram; using the MATLAB simulation platform get the collar with a single shot and evolution path of groups in different initial conditions.(3) Respectively in the weak relationship network making evolutionary game analysis, to build a pay-off matrix obtained by affecting knowledge transfer system evolution path and the evolutionary stable strategy variables, the key parameters of plane through game theory for the system phase diagram; using the MATLAB simulation platform get the collar with a single shot and evolution path of groups in different initial conditions.The research of this paper to realize that, syndicated network relationships not only have a major impact on the knowledge transfer between the venture capitals, but also have important guiding significance to promote the healthy development of venture capital industry.