The Performance of Venture-Backed Firms: The Effect of Venture Capital Company Characteristics
This paper deals with the empirical investigation of the question as to which type of venture capital (VC) companies determines the growth and survival of istics of VC companies as additional factors that explain the high variation of the employment growth rate of portfolio firms and their probability of surviving. Surprisingly, venture- backed firms financed by independent VC companies are not among the most successful firms. Independent VC companies are some of those with the greatest profit orientation and hence, a high quality of the value chain process is to be expected. Significantly higher employment growth rates are evident for firms financed by locally active VCs. Changes in the board of directors do not have a positive effect on firms' performance. Syndicated investment strategy seems to be a successful strategy.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 11 (2004)
Issue (Month): 3 ()
|Contact details of provider:|| Web page: http://www.tandfonline.com/CIAI20|
|Order Information:||Web: http://www.tandfonline.com/pricing/journal/CIAI20|
When requesting a correction, please mention this item's handle: RePEc:taf:indinn:v:11:y:2004:i:3:p:249-263. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty)
If references are entirely missing, you can add them using this form.