Abstract

I analyzed the IPO syndicate networks in China's capital market tracked over a period of 5 years from the perspective of social network. The syndicate networks were among 89 investment banks in China's capital market and included 905 ties. With the help of UCINET 6.0, I found that these inter-organizational networks showed clear pattern of small-world which was characterized by high degree of local clustering and short paths between banks. I also found that the connectivity of the syndicate networks was highly skewed. I examined evolution over time in the network's properties of small-worldliness and skewness, and demonstrated their theoretical and practical implications for Chinese investment bank networks by linking these properties to the network's information transmission speed and resilience.

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