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| 文章编号：1672-3104(2021)01-0101-11 |
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创业企业众筹的社会网络、知识资源与融资绩效 |
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黄向荣1，曾江洪2，刘诗绮2 |
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（1.湖南财政经济学院工商管理学院，湖南长沙，410205；2.中南大学商学院，湖南长沙，410083） |
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| 摘 要： 基于社会网络理论，借助摩点众筹上93个项目和1893个多次支持者构成的社会网络，从关系和结构维度研究社会网络通过知识资源获取影响众筹融资绩效的作用机理。研究结果表明：社会网络的不同维度对知识资源获取产生差异化影响，具体而言，网络规模越大、所处网络位置的中介中间度和接近中间度越高，众筹项目获取的知识资源越多；获取的知识资源越多，众筹融资绩效越好；网络规模、中介中间度和接近中间度通过影响知识资源获取正向影响融资绩效。研究启示：扩大社会网络规模是获取资源和改善绩效的有效途径，发起人需要加强对社会网络的建立和维护，尽可能与更多的多次支持者建立联系；众筹平台需要重视众筹社区的构建，为支持者和发起人、支持者和支持者之间的交流建立有效的途径。 |
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| 关键词： 创业企业；社会网络；知识资源；融资绩效；众筹 |
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Social network, knowledge resources and financing performance of crowdfunding in start-ups |
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HUANG Xiangrong1, ZENG Jianghong2, LIU Shiqi2 |
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（1. Hunan University of Finance and Economics, Changsha 410205, China;
2. School of Business, Central South University, Changsha 410083, China） |
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| Abstract: Based on the social network theory, with the help of the social network composed of 93 projects and 1893 repeated supporters, the article, from two dimensions of relationship and structure, studies the mechanism of social network which acquires influencing financing performance of crowdfunding through knowledge resources. The results show that: (1) the different dimensions of social network exert different effects on the acquisition of knowledge resources. Specifically, the larger the network size is, and the higher the betweenness of intermediate degree and closeness to intermediate degree of the network location are, the more knowledge resources the projects can acquire; (2) the more knowledge resources the projects acquire, the better the crowdfunding financing performance are; (3) the network size, the betweenness of intermediate degree and closeness to intermediate degree all positively affect financing performance by influencing knowledge resource acquisition. The research provides the following implications for the start-ups: (1) expanding the size of social network is an effective way to acquire resources and improve performance; (2) sponsors need to strengthen the establishment and maintenance of social network, and establish connection with more repeated supporters as much as possible; (3) crowdfunding platform needs to pay attention to the construction of crowdfunding community, and establish an effective way for the communication between supporters and sponsors, supporters and supporters. |
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Key words: start-ups; social network; knowledge resources; financing performance; crowdfunding |
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