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Adequacy of agency theory in explaining the venture capitalist-entrepreneur relationship: a firm life-cycle perspective

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  • Swati Panda

Abstract

This paper explores the adequacy of agency theory in explaining the venture capitalist (VC)-entrepreneur relationship through a firm life-cycle perspective. The findings indicate that advanced stage relationships suffer severely from agency risks while early stage relationships are less affected. The findings have important theoretical implications, as they propose boundary conditions along which agency theory can be applied to the VC-entrepreneur relationship. VCs and entrepreneurs can utilise the recommendations for better decision making, leading to an improved working relationship.

Suggested Citation

  • Swati Panda, 2018. "Adequacy of agency theory in explaining the venture capitalist-entrepreneur relationship: a firm life-cycle perspective," International Journal of Entrepreneurship and Small Business, Inderscience Enterprises Ltd, vol. 34(3), pages 309-329.
    • Handle: RePEc:ids:ijesbu:v:34:y:2018:i:3:p:309-329
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    Cited by:

    1. Simone Aresu & Luigi Rombi & Andrea Cardia, 2019. "Management accounting systems in venture capital-backed start-up companies," MANAGEMENT CONTROL, FrancoAngeli Editore, vol. 2019(3), pages 35-58.
    2. Caroline Tarillon & Han Yu & Ludivine Adla & Elodie Manthé & Geoffroy Enjolras, 2023. "Similarity is not everything: the influence of personal characteristics of entrepreneurs and investors on their fit," International Entrepreneurship and Management Journal, Springer, vol. 19(2), pages 709-732, June.

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