Spiky globalization of venture capital investments: the influence of prior human networks
研究发现跨境风险投资并非均匀分布，而是呈现尖峰全球化模式，即美国特定地区与某些外国国家之间联系特别紧密，这种模式受先前人际网络（尤其是移民企业家聚集）的驱动。
Abstract We demonstrate a spiky globalization pattern in the cross‐border spread of venture capital: rather than being uniformly distributed, cross‐border venture capital flows are unevenly distributed, in that certain regions of the U.S. display particularly intense linkages with certain foreign nations. We posit that such spiky globalization of venture capital is driven by the spiky globalization pattern of prior human networks between locations, and we provide empirical results supportive of our hypothesis. Specifically, we reason that immigrant entrepreneurs inherently tend to collocate with each other in their host nation, thus advantaging certain regions in the competition to act as sources and destinations of cross‐border venture capital. This study sheds new light on geographical patterns in international venture capital and entrepreneurship. Copyright © 2010 Strategic Management Society.