Venture Capital Syndication Network Structure of Public Companies: Robustness and Dynamic Evolution, China

Abstract

Venture capital plays a vital role in boosting economic growth by providing an inexhaustible impetus for economic innovation and development. We use all the joint venture capital events of Chinese listed companies in the past 10 years to describe the characteristics of the joint venture capital network structure, identify the dynamic evolution characteristics of the community, and introduce random attacks and deliberate attacks to explore the resilience of joint venture capital cooperation. The study finds that the joint venture capital network in China has expanded in scale, with an increasing number of participants and a diversified investment industry. However, the connection between members within the network remains relatively loose, indicating fragmentation and a need to improve network quality. The community structure of core members is significant, with evident differences in scale. The network exhibits weak robustness, relying heavily on key enterprises and demonstrating a poor ability to resist external interference. The study proposes countermeasures and suggestions for optimizing the network structure of joint venture capital, aiming to enhance the environment and performance of joint venture capital and promote the high-quality development of China’s joint venture capital market.

Keywords

• joint investment
• social network
• network structure
• dynamic evolution
• robustness