Network Triads: Transitivity, Referral and Venture Capital Decisions in China and Russia

This article examines effects of dyadic ties and interpersonal trust on referrals and investment decisions of venture capitalists in the Chinese and Russian contexts. The study uses the postulate of transitivity of social network theory as a conceptual framework. The findings reveal that referee-venture capitalist tie, referee-entrepreneur tie, and interpersonal trust between referee and venture capitalist have positive effects on referrals and investment decisions of venture capitalists. The institutional, social and cultural differences between China and Russia have minimal effects on referrals. Interpersonal trust has positive effects on investment decisions in Russia.http://deepblue.lib.umich.edu/bitstream/2027.42/40138/3/wp752.pd

Network Triads: Transitivity, Referral and Venture Capital Decisions in China and Russia

This article examines effects of dyadic ties and interpersonal trust on referrals and investment decisions of venture capitalists in the Chinese and Russian contexts. The study uses the postulate of transitivity of social network theory as a conceptual framework. The findings reveal that referee-venture capitalist tie, referee-entrepreneur tie, and interpersonal trust between referee and venture capitalist have positive effects on referrals and investment decisions of venture capitalists. The institutional, social and cultural differences between China and Russia have minimal effects on referrals. Interpersonal trust has positive effects on investment decisions in Russia.Transitivity, triads, referral, venture capital, China, Russi

The role of social networks in development of small-scale enterprises in the Chimanimani district of Zimbabwe

The past decade has witnessed an increased interest in the concept of social networks after the seminal theses of Coleman (1988) and Putnam (1993). An area that has attracted a great deal of interest is the value of social networks in small-scale enterprise development. This paper interrogates the role of social networks in the establishment and expansion of rural non-farm enterprises in the Chimanimani district of Zimbabwe and established that rural non-farm entrepreneurs resort to their social networks for information and other resources needed to establish and expand their enterprises, and that there are some gender differences in the use of the various social networks.Social networks, rural non-farm entrepreneurs, rural non-farm enterprises, Agribusiness,

Collective Action and Post-Communist Enterprise: The Economic Logic of Russia’s Business Associations

Drawing on a unique set of surveys, this article explores the question of whether Russia’s post-communist business associations are generally antithetical to or supportive of the broad objectives of economic restructuring. Contrary to the most widely cited analysis as to the purposes of collective action in the business community, the survey evidence demonstrates that association members have embraced market-adapting behaviors at greater rates than nonmembers. The responses of both firms and associations, moreover, suggest that the associations themselves may, at least in part, be directly responsible. These findings point to the conclusion that in contemporary Russia the net returns to collective action in support of market development are high relative to those for purposes that are less benign.http://deepblue.lib.umich.edu/bitstream/2027.42/40180/3/wp794.pd

Comparative social capital: Networks of entrepreneurs and investors in China and Russia

Most studies on entrepreneurs’ networks incorporate social capital and networks as independent variables that affect entrepreneurs’ actions and its outcomes. By contrast, this article examines social capital of the Chinese and Russian entrepreneurs and venture capitalists as dependent variables, and it examines entrepreneurs’ social capital from the perspectives of institutional theory and cultural theory. The empirical data are composed of structured telephone interviews with 159 software entrepreneurs, and the data of 124 venture capital decisions in Beijing and Moscow. The study found that social networks of the Chinese entrepreneurs are smaller in size, denser in structure, and more homogeneous in composition compared to networks of the Russian entrepreneurs due to the institutional and cultural differences between the two countries. Furthermore, the study revealed that dyadic (two-person) ties are stronger and interpersonal trust is greater in China than in Russia. The research and practical implications are discussed.http://deepblue.lib.umich.edu/bitstream/2027.42/40169/3/wp783.pd

Collective Action and Post-Communist Enterprise: The Economic Logic of Russia’s Business Associations

Drawing on a unique set of surveys, this article explores the question of whether Russia’s post-communist business associations are generally antithetical to or supportive of the broad objectives of economic restructuring. Contrary to the most widely cited analysis as to the purposes of collective action in the business community, the survey evidence demonstrates that association members have embraced market-adapting behaviors at greater rates than non-members. The responses of both firms and associations, moreover, suggest that the associations themselves may, at least in part, be directly responsible. These findings point to the conclusion that in contemporary Russia the net returns to collective action in support of market development are high relative to those for purposes that are less benign.Key words: business associations, collective action, post-communist transition, and market institutions

Sustainable Development in Southern Africa: Progress in Addressing the Challenges

This paper reviews the progress made in establishing institutional framework for sustainable development in Southern Africa, identifies the major successes and challenges in implementing sustainable development policies and programs and suggests recommendations to enhance implementation of sustainable development policies and programs

Collective Action and Post-Communist Enterprise: The Economic Logic of Russia’s Business Associations

Drawing on a unique set of surveys, this article explores the question of whether Russia’s post-communist business associations are generally antithetical to or supportive of the broad objectives of economic restructuring. Contrary to the most widely cited analysis as to the purposes of collective action in the business community, the survey evidence demonstrates that association members have embraced market-adapting behaviors at greater rates than nonmembers. The responses of both firms and associations, moreover, suggest that the associations themselves may, at least in part, be directly responsible. These findings point to the conclusion that in contemporary Russia the net returns to collective action in support of market development are high relative to those for purposes that are less benign.business associations, collective action, post-communist transition, and market institutions

Comparative social capital: Networks of entrepreneurs and investors in China and Russia

Most studies on entrepreneurs’ networks incorporate social capital and networks as independent variables that affect entrepreneurs’ actions and its outcomes. By contrast, this article examines social capital of the Chinese and Russian entrepreneurs and venture capitalists as dependent variables, and it examines entrepreneurs’ social capital from the perspectives of institutional theory and cultural theory. The empirical data are composed of structured telephone interviews with 159 software entrepreneurs, and the data of 124 venture capital decisions in Beijing and Moscow. The study found that social networks of the Chinese entrepreneurs are smaller in size, denser in structure, and more homogeneous in composition compared to networks of the Russian entrepreneurs due to the institutional and cultural differences between the two countries. Furthermore, the study revealed that dyadic (two-person) ties are stronger and interpersonal trust is greater in China than in Russia. The research and practical implications are discussed.Social capital, entrepreneurs, venture capitalists, China and Russia.