The dynamics of entrepreneurs’ networks in a transitioning economy: the case of Russia

Despite its theoretical and practical importance, the evolution and development of entrepreneurs’ networks has attracted a little attention of researchers. The emerging research literature on this topic found that the dynamics of entrepreneurial networks were contingent upon venture lifecycle, industry and region, and resource needs of the firm. In addition and contrast to the previous research, this article examines the effects of the initial network structure, and firm performance of previous years on the changes in entrepreneurs' network structure, relations, and resources over 4 years. The empirical data is composed of the face-to-face interviews with 75 Russian entrepreneurs in 1995, and the follow-up interviews with 56 original respondents in 1999. I found that the greater the initial network size, the less the increase in network size, strong and weak ties, and resources over time. Further, the findings indicate that revenue growth of previous years predicts the changes in networks in the reverse manner. Thus, I found that the greater the average revenue growth, the less the increase in network size, weak ties, and resources over time.     

Network dynamics and new ventures in China: A longitudinal study

This study examines the effects of networking skills of entrepreneurs on network dynamics and venture legitimacy. The article is based on the longitudinal survey data of 94 Internet entrepreneurs in Beijing, China. The findings suggest that networking skills of entrepreneurs have positive effects on the structural changes of entrepreneurial networks over time. Further, improvements in networking skills of entrepreneurs are conducive to greater venture legitimacy measured as the number of institutional investors in the new venture. The research and practical implications are discussed.     

英国的创业投资与企业再创业

英国创业投资业的基本概况 在英国和欧洲,“创业投资”(venture capital)是一个与“私人股权投资”(private equity)相互通用的概念。它们均表示对任何一个尚未公开上市的企业在其整个创业过程中所作的股权投资,企业创业的过程包括从起步(Start-up)到扩张、成长的各个阶段。甚至于对一个已经建成的企业所作的并购重组投资,也属于创业投资的范畴。因为,已建成企业的并购重组,本质上是一种企业再创建的过程,或称“再创业”。而无论是对新兴创业企业进行投资,还是对需要再创业的创业企业进行投资,都具有以下四个共同特点:(1)投资于尚未公开上市的企业;(2)以股权方式进行投资;(3)是一种中长期投资;(4)以具有高成长潜力的企业作为投资对象。