题　目：When Do Indirect Ties Enable Superior Investment Selection? Evidence from the Private Equity and Venture Capital Industry

嘉　宾：Pavel Zhelyazkov, 副教授, 香港科技大学

主　持：刘丽莎, 助理教授, 上海交通大学

时　间：2024年4月3日(周三) 10:00-11:30

地　点：安泰经济与管理学院A305

内容简介:

Extensive research has demonstrated that organizations draw on their indirect ties via informed intermediaries to evaluate investment targets but has paid less attention to when and how such ties enable superior investment selection. In this study, we argue that the benefits of private information relayed through indirect ties are contingent on the evaluator’s quality uncertainty about the target. Specifically, we suggest that whether indirect ties enable superior investment selection depends on i) the evaluator’s experience and ability to assess potential targets; ii) the evaluator’s ease of due diligence; and iii) the target’s track record of past performance, which affects the evaluator’s ability to assess its future return prospects. We find that these factors affect whether indirect ties enable superior investment selection in a longitudinal study of institutional investors evaluating private equity and venture capital funds.

演讲人简介：

Pavel Zhelyazkov是香港科技大学商学院副教授，主要研究方向为组织理论，组织间网络，风险投资公司银团。Pavel Zhelyazkov副教授在自己的研究领域拥有丰富的研究经验和深厚的学术造诣，有多篇论文发表在Administrative Science Quarterly，Academy of Management Journal等国际顶尖管理学杂志上。

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