Yuan Shi, Olav Sorenson, David M. Waguespack
Sociological Science, January 30, 2017
DOI 10.15195/v4.a5
Abstract
The results of archival studies may depend on when researchers analyze data for at least two reasons: (1) databases change over time and (2) the sampling frame, in terms of the period covered, may reflect different environmental conditions. We examined these issues through the replication of Hochberg, Ljungqvist, and Lu’s (2007) research on the centrality of venture capital firms and their performance. We demonstrate (1) that one can reproduce the results in the original article if one uses data downloaded at roughly the same time as the original researchers did, (2) that these results remain fairly robust to even a decade of database updating, but (3) that the results depend sensitively on the sampling frame. Centrality only has a positive relationship to fund performance during boom periods.
The results of archival studies may depend on when researchers analyze data for at least two reasons: (1) databases change over time and (2) the sampling frame, in terms of the period covered, may reflect different environmental conditions. We examined these issues through the replication of Hochberg, Ljungqvist, and Lu’s (2007) research on the centrality of venture capital firms and their performance. We demonstrate (1) that one can reproduce the results in the original article if one uses data downloaded at roughly the same time as the original researchers did, (2) that these results remain fairly robust to even a decade of database updating, but (3) that the results depend sensitively on the sampling frame. Centrality only has a positive relationship to fund performance during boom periods.
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- Citation: Shi, Yuan, Olav Sorenson, and David M. Waguespack. 2017. “The Stability of Centrality-Based Competitive Advantage.” Sociological Science 4: 107-122.
- Received: October 17, 2016
- Accepted: December 6, 2016
- Editors: Delia Baldassarri
- DOI: 10.15195/v4.a5