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The influence of international human capital and international network relationships on the cross-border investment behaviour of private equity firms

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  • S. DE PRIJCKER

    ()

  • S. MANIGART
  • M. WRIGHT
  • W. DE MAESENEIRE

Abstract

This paper studies the international investment behavior of private equity (PE) firms. Perspectives from international service management are integrated with human capital and network theory to test the value of international human capital and international network relationships. Using a sample of 110 private equity firms from five European countries, we demonstrate the positive influence of international human capital and show that the intensity of the foreign network decreases the likelihood to be international. Our results also stress the larger influence of international human capital and network relationships on the likelihood of cross-border investing than on the number of international investments.

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File URL: http://www.feb.ugent.be/nl/Ondz/wp/Papers/wp_09_597.pdf
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Bibliographic Info

Paper provided by Ghent University, Faculty of Economics and Business Administration in its series Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium with number 09/597.

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Length: 46 pages
Date of creation: Jun 2009
Date of revision:
Handle: RePEc:rug:rugwps:09/597

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References

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Cited by:
  1. Schertler, Andrea & Tykvová, Tereza, 2012. "What lures cross-border venture capital inflows?," Journal of International Money and Finance, Elsevier, vol. 31(6), pages 1777-1799.
  2. Schertler, Andrea & Tykvová, Tereza, 2011. "Venture capital and internationalization," International Business Review, Elsevier, vol. 20(4), pages 423-439, August.
  3. Tykvová, Tereza & Borell, Mariela, 2012. "Do private equity owners increase risk of financial distress and bankruptcy?," Journal of Corporate Finance, Elsevier, vol. 18(1), pages 138-150.

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