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This study investigates how venture capital firms (VCs) choose syndication partners. Exponential random graph models of Chinese VC syndication networks from 2006 to 2013 show that the homophily mechanism does not always determine VCs’ partner selection. In selecting partners, VCs have to strike a balance between reducing uncertainty and mobilizing heterogeneous resources. Therefore, decisions about partners depend on institutional uncertainty and VCs’ investment preferences. While VCs that focus on traditional business in an immature market are more likely to form homogeneous syndications, their peers that prefer to invest in innovative companies and that can rely on a stable market tend to syndicate with heterogeneous partners.
The synergistic effects of the template [Pluronic-123 (P123)] and the silica source [tetraethoxysilane (TEOS)] concentrations on the SBA-15 mesoporous silica morphology were investigated through adjusting the system initial solution volume with the same amounts of silica source and template. It found interestingly that the SBA-15 morphology changed from the hexagonal plate-like shape to the gear-like shape with the decrease of the P123 and TEOS concentration. Based on the morphology variations, the growth of the gear-like morphology was speculated to be formed through the preferential growth at the corner and the layer-by-layer growth in the end face of the ordinary hexagonal plate-like particle.
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