文化距离、社会网络中心性与互联网创业融资——来自众筹数据的实证研究

Cultural Distance, Network Centrality and Internet Entrepreneurial Financing ——Empirical Test Based on Crowdfunding Data

中文关键词:  文化距离  社会网络中心性  社会嵌入  社会网络  创业融资  网络众筹

英文关键词:cultural distance  network centrality  social embeddedness  social network  entrepreneurial financing  online crowdfunding

中文摘要:

      对于互联网创业融资绩效而言,文化距离与社会网络是两项关键的影响因素,但现有的理论研究成果并不能对二者之间的关系做出清晰的解释。文章基于社会嵌入理论,探讨了创业者与投资人之间的文化距离对融资绩效的影响作用,以及社会网络中心性在此过程中所扮演的角色。文章借助数据挖掘技术,生成了包含1802个创业项目信息及其创业者个人信息的截面数据库,通过分析发现:创业者的社会网络中心性对创业者个人社会网络与投资人文化距离影响融资绩效的过程起到了中介作用,创业者个人经验对过程起到一定的调节作用。最后,提出创业者应更加关注与投资人间的文化距离,改善在社会网络中所处的位置,通过丰富个人经验等手段来提升创业融资绩效等建议。

英文摘要:

      Cultural distance and social network are two critical influence factors on internet entrepreneurial financing performance. However, the relationship between them has not been explained clearly by the existing research available. Based on the theory of social embeddedness, this paper investigates the impact of cultural distance between entrepreneurs and investors on entrepreneurial financing performance, as well as the role that social network centrality plays in such process. Data mining technology is used in this study to generate a cross-section database with the information of 1802 startups projects and the entrepreneurs' personal information. The analysis shows that the entrepreneurs' social network centrality plays an intermediary role in the process of influence upon financing performance as to entrepreneurs' social network and the investors' cultural distance. Besides, the entrepreneurs' personal experience plays a moderating role in the above-mentioned process.Finally, it proposes that entrepreneurs should pay more attention to their cultural distance away from investors, improve their own social network centrality and try to improve the financing performance by enriching their personal experiences. 