{"id":"https://openalex.org/W3201349905","doi":"https://doi.org/10.1109/tcsi.2021.3099626","title":"Exploring Impact Factors of Risk Contagion in Venture Capital Markets: A Complex Network Approach","display_name":"Exploring Impact Factors of Risk Contagion in Venture Capital Markets: A Complex Network Approach","publication_year":2021,"publication_date":"2021-08-04","ids":{"openalex":"https://openalex.org/W3201349905","doi":"https://doi.org/10.1109/tcsi.2021.3099626","mag":"3201349905"},"language":"en","primary_location":{"id":"doi:10.1109/tcsi.2021.3099626","is_oa":false,"landing_page_url":"https://doi.org/10.1109/tcsi.2021.3099626","pdf_url":null,"source":{"id":"https://openalex.org/S116977442","display_name":"IEEE Transactions on Circuits and Systems I Regular Papers","issn_l":"1549-8328","issn":["1549-8328","1558-0806"],"is_oa":false,"is_in_doaj":false,"is_core":true,"host_organization":"https://openalex.org/P4310319808","host_organization_name":"Institute of Electrical and Electronics Engineers","host_organization_lineage":["https://openalex.org/P4310319808"],"host_organization_lineage_names":["Institute of Electrical and Electronics Engineers"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"IEEE Transactions on Circuits and Systems I: Regular Papers","raw_type":"journal-article"},"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5101687440","display_name":"Xuerong Li","orcid":"https://orcid.org/0000-0002-1090-3970"},"institutions":[{"id":"https://openalex.org/I19820366","display_name":"Chinese Academy of Sciences","ror":"https://ror.org/034t30j35","country_code":"CN","type":"government","lineage":["https://openalex.org/I19820366"]},{"id":"https://openalex.org/I4210120485","display_name":"Academy of Mathematics and Systems Science","ror":"https://ror.org/02jkmyk67","country_code":"CN","type":"facility","lineage":["https://openalex.org/I19820366","https://openalex.org/I4210120485"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Xuerong Li","raw_affiliation_strings":["Academy of Mathematics and Systems Science, Chinese Academy of Sciences, Beijing, China"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Academy of Mathematics and Systems Science, Chinese Academy of Sciences, Beijing, China","institution_ids":["https://openalex.org/I19820366","https://openalex.org/I4210120485"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5100390355","display_name":"Jiaqi Liu","orcid":"https://orcid.org/0000-0001-8899-895X"},"institutions":[{"id":"https://openalex.org/I4210165038","display_name":"University of Chinese Academy of Sciences","ror":"https://ror.org/05qbk4x57","country_code":"CN","type":"education","lineage":["https://openalex.org/I19820366","https://openalex.org/I4210165038"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Jiaqi Liu","raw_affiliation_strings":["School of Economics and Management, University of Chinese Academy of Sciences, Beijing, China"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"School of Economics and Management, University of Chinese Academy of Sciences, Beijing, China","institution_ids":["https://openalex.org/I4210165038"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5101876508","display_name":"Jichang Dong","orcid":"https://orcid.org/0000-0002-5294-2177"},"institutions":[{"id":"https://openalex.org/I4210165038","display_name":"University of Chinese Academy of Sciences","ror":"https://ror.org/05qbk4x57","country_code":"CN","type":"education","lineage":["https://openalex.org/I19820366","https://openalex.org/I4210165038"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Jichang Dong","raw_affiliation_strings":["School of Economics and Management, University of Chinese Academy of Sciences, Beijing, China"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"School of Economics and Management, University of Chinese Academy of Sciences, Beijing, China","institution_ids":["https://openalex.org/I4210165038"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5000969982","display_name":"Linyuan L\u00fc","orcid":"https://orcid.org/0000-0002-2156-0432"},"institutions":[{"id":"https://openalex.org/I150229711","display_name":"University of Electronic Science and Technology of China","ror":"https://ror.org/04qr3zq92","country_code":"CN","type":"education","lineage":["https://openalex.org/I150229711"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Linyuan Lu","raw_affiliation_strings":["Institute of Fundamental and Frontier Sciences, University of Electronic Science and Technology of China, Chengdu, China"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Institute of Fundamental and Frontier Sciences, University of Electronic Science and Technology of China, Chengdu, China","institution_ids":["https://openalex.org/I150229711"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5027725400","display_name":"Jinhu L\u00fc","orcid":"https://orcid.org/0000-0003-0275-8387"},"institutions":[{"id":"https://openalex.org/I82880672","display_name":"Beihang University","ror":"https://ror.org/00wk2mp56","country_code":"CN","type":"education","lineage":["https://openalex.org/I82880672"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Jinhu Lu","raw_affiliation_strings":["State Key Laboratory of Software Development Environment, School of Automation Science and Electrical Engineering, Institue of Artificial Intelligence, Beihang University, Beijing, China"],"raw_orcid":"https://orcid.org/0000-0003-0275-8387","affiliations":[{"raw_affiliation_string":"State Key Laboratory of Software Development Environment, School of Automation Science and Electrical Engineering, Institue of Artificial Intelligence, Beihang University, Beijing, China","institution_ids":["https://openalex.org/I82880672"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":5,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":1.661,"has_fulltext":false,"cited_by_count":6,"citation_normalized_percentile":{"value":0.8526387,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":89,"max":97},"biblio":{"volume":"68","issue":"10","first_page":"4268","last_page":"4277"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11903","display_name":"Private Equity and Venture Capital","score":1.0,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11903","display_name":"Private Equity and Venture Capital","score":1.0,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9907000064849854,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10058","display_name":"Entrepreneurship Studies and Influences","score":0.9836000204086304,"subfield":{"id":"https://openalex.org/subfields/1405","display_name":"Management of Technology and Innovation"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/business","display_name":"Business","score":0.6054844856262207},{"id":"https://openalex.org/keywords/systemic-risk","display_name":"Systemic risk","score":0.6018168330192566},{"id":"https://openalex.org/keywords/venture-capital","display_name":"Venture capital","score":0.5290680527687073},{"id":"https://openalex.org/keywords/market-risk","display_name":"Market risk","score":0.49694517254829407},{"id":"https://openalex.org/keywords/capital-market","display_name":"Capital market","score":0.45536014437675476},{"id":"https://openalex.org/keywords/financial-market","display_name":"Financial market","score":0.442889928817749},{"id":"https://openalex.org/keywords/financial-contagion","display_name":"Financial contagion","score":0.4236564338207245},{"id":"https://openalex.org/keywords/economic-capital","display_name":"Economic capital","score":0.422515332698822},{"id":"https://openalex.org/keywords/monetary-economics","display_name":"Monetary economics","score":0.3662106990814209},{"id":"https://openalex.org/keywords/financial-economics","display_name":"Financial economics","score":0.35680335760116577},{"id":"https://openalex.org/keywords/economics","display_name":"Economics","score":0.3429376482963562},{"id":"https://openalex.org/keywords/finance","display_name":"Finance","score":0.28645023703575134},{"id":"https://openalex.org/keywords/financial-crisis","display_name":"Financial crisis","score":0.18318116664886475},{"id":"https://openalex.org/keywords/market-economy","display_name":"Market economy","score":0.10245439410209656},{"id":"https://openalex.org/keywords/human-capital","display_name":"Human capital","score":0.0751483142375946}],"concepts":[{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.6054844856262207},{"id":"https://openalex.org/C144587487","wikidata":"https://www.wikidata.org/wiki/Q1369234","display_name":"Systemic risk","level":3,"score":0.6018168330192566},{"id":"https://openalex.org/C21279758","wikidata":"https://www.wikidata.org/wiki/Q219409","display_name":"Venture capital","level":2,"score":0.5290680527687073},{"id":"https://openalex.org/C73858035","wikidata":"https://www.wikidata.org/wiki/Q1164550","display_name":"Market risk","level":2,"score":0.49694517254829407},{"id":"https://openalex.org/C143910263","wikidata":"https://www.wikidata.org/wiki/Q750458","display_name":"Capital market","level":2,"score":0.45536014437675476},{"id":"https://openalex.org/C19244329","wikidata":"https://www.wikidata.org/wiki/Q208697","display_name":"Financial market","level":2,"score":0.442889928817749},{"id":"https://openalex.org/C2778890369","wikidata":"https://www.wikidata.org/wiki/Q499041","display_name":"Financial contagion","level":3,"score":0.4236564338207245},{"id":"https://openalex.org/C57495647","wikidata":"https://www.wikidata.org/wiki/Q295385","display_name":"Economic capital","level":3,"score":0.422515332698822},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.3662106990814209},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.35680335760116577},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.3429376482963562},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.28645023703575134},{"id":"https://openalex.org/C2778300220","wikidata":"https://www.wikidata.org/wiki/Q114380","display_name":"Financial crisis","level":2,"score":0.18318116664886475},{"id":"https://openalex.org/C34447519","wikidata":"https://www.wikidata.org/wiki/Q179522","display_name":"Market economy","level":1,"score":0.10245439410209656},{"id":"https://openalex.org/C2776943663","wikidata":"https://www.wikidata.org/wiki/Q165687","display_name":"Human capital","level":2,"score":0.0751483142375946},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1109/tcsi.2021.3099626","is_oa":false,"landing_page_url":"https://doi.org/10.1109/tcsi.2021.3099626","pdf_url":null,"source":{"id":"https://openalex.org/S116977442","display_name":"IEEE Transactions on Circuits and Systems I Regular Papers","issn_l":"1549-8328","issn":["1549-8328","1558-0806"],"is_oa":false,"is_in_doaj":false,"is_core":true,"host_organization":"https://openalex.org/P4310319808","host_organization_name":"Institute of Electrical and Electronics Engineers","host_organization_lineage":["https://openalex.org/P4310319808"],"host_organization_lineage_names":["Institute of Electrical and Electronics Engineers"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"IEEE Transactions on Circuits and Systems I: Regular Papers","raw_type":"journal-article"}],"best_oa_location":null,"sustainable_development_goals":[{"id":"https://metadata.un.org/sdg/17","score":0.41999998688697815,"display_name":"Partnerships for the goals"}],"awards":[{"id":"https://openalex.org/G3523307272","display_name":null,"funder_award_id":"61621003","funder_id":"https://openalex.org/F4320321001","funder_display_name":"National Natural Science Foundation of China"},{"id":"https://openalex.org/G4769285672","display_name":null,"funder_award_id":"92067204","funder_id":"https://openalex.org/F4320321001","funder_display_name":"National Natural Science Foundation of China"}],"funders":[{"id":"https://openalex.org/F4320321001","display_name":"National Natural Science Foundation of China","ror":"https://ror.org/01h0zpd94"}],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":30,"referenced_works":["https://openalex.org/W1966598925","https://openalex.org/W1989057929","https://openalex.org/W1993315007","https://openalex.org/W2014099293","https://openalex.org/W2122108576","https://openalex.org/W2212000340","https://openalex.org/W2382883297","https://openalex.org/W2491882969","https://openalex.org/W2551950867","https://openalex.org/W2761306263","https://openalex.org/W2789121125","https://openalex.org/W2792727247","https://openalex.org/W2804691304","https://openalex.org/W2898115596","https://openalex.org/W2931516731","https://openalex.org/W2957555208","https://openalex.org/W2995957408","https://openalex.org/W3000093441","https://openalex.org/W3000591665","https://openalex.org/W3003771785","https://openalex.org/W3006517080","https://openalex.org/W3015228521","https://openalex.org/W3019798378","https://openalex.org/W3023856374","https://openalex.org/W3080165278","https://openalex.org/W3086076838","https://openalex.org/W3121865524","https://openalex.org/W3122021394","https://openalex.org/W3147979415","https://openalex.org/W6639713680"],"related_works":["https://openalex.org/W3123472021","https://openalex.org/W2906306439","https://openalex.org/W2160164079","https://openalex.org/W3184736580","https://openalex.org/W2142673933","https://openalex.org/W2787493215","https://openalex.org/W2958977029","https://openalex.org/W3047013646","https://openalex.org/W3124383024","https://openalex.org/W4313431135"],"abstract_inverted_index":{"Large-scale":[0],"risk":[1,14,44,72,79,110,128],"events":[2],"in":[3,15,163],"the":[4,16,22,35,55,76,82,86,90,98,102,107,115,135,168,177],"venture":[5,48],"capital":[6,49,56],"(VC)":[7],"market":[8,28,50,91,103,178,184],"can":[9,122],"easily":[10],"lead":[11],"to":[12,31,181],"systemic":[13],"financial":[17],"market.":[18,40,165],"This":[19],"paper":[20],"collects":[21],"comprehensive":[23],"dataset":[24],"of":[25,38,47,78,89,101,109,117,127,137],"Chinese":[26],"VC":[27,39,120,149,164,183],"from":[29],"1999":[30],"2020,":[32],"and":[33,59,74,81,157],"constructs":[34],"multi-layer":[36],"networks":[37],"After":[41],"that,":[42],"a":[43,118,124],"contagion":[45,80,131],"model":[46],"is":[51],"designed":[52],"considering":[53],"both":[54],"loss":[57],"transmission":[58],"social":[60],"relations":[61],"effect":[62],"(investor":[63],"herd":[64,99],"behavior).":[65],"By":[66],"simulating":[67],"various":[68],"situations":[69],"with":[70,113],"different":[71],"origins":[73],"scales,":[75],"speed":[77],"total":[83],"impacts":[84],"on":[85,167],"overall":[87],"stability":[88],"(network)":[92],"are":[93,141,160],"compared.":[94],"We":[95],"find":[96],"that":[97,154],"behavior":[100],"will":[104],"generally":[105],"aggravate":[106],"consequences":[108,132],"contagion.":[111,129],"Compared":[112],"unicorns,":[114],"failure":[116,136],"leading":[119],"firm":[121],"cause":[123],"wider":[125],"range":[126],"The":[130],"caused":[133,146],"by":[134,147],"random":[138,148],"financing":[139],"companies":[140],"more":[142],"serious":[143],"than":[144],"those":[145],"firms.":[150],"Moreover,":[151],"we":[152],"identify":[153],"telecommunications":[155],"services":[156],"information":[158],"technology":[159],"high-risk":[161],"industries":[162],"Based":[166],"empirical":[169],"results,":[170],"this":[171],"article":[172],"provides":[173],"policy":[174],"implications":[175],"for":[176],"regulatory":[179],"sectors":[180],"prevent":[182],"risks.":[185]},"counts_by_year":[{"year":2023,"cited_by_count":3},{"year":2022,"cited_by_count":2},{"year":2021,"cited_by_count":1}],"updated_date":"2026-07-22T07:51:19.307946","created_date":"2025-10-10T00:00:00"}