Bedeutung der VC-Finanzierung für die Legitimierung junger Unternehmen - Ergebnisse einer empirischen Studie
This paper reviews the impact of legitimacy on new ventures and explores the overlap between two similar constructs, legitimacy and reputation. A positive organizational reputation can be crucial to successful venture development. Building on the idea that reputation is socially constructed, this paper depicts reputation as the outcome of the process of legitimation. In this context the study investigates the influence of venture capital and the relationship among venture capital finance and venture’s reputation. Results of the empirical study reveal a correlation between venture capital finance and the organizational reputation and legitimation of start-ups.
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- C. Mirjam van Praag, 2003. "Business Survival and Success of Young Small Business Owners," Tinbergen Institute Discussion Papers 03-050/3, Tinbergen Institute.
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- Baum, Joel A. C. & Silverman, Brian S., 2004. "Picking winners or building them? Alliance, intellectual, and human capital as selection criteria in venture financing and performance of biotechnology startups," Journal of Business Venturing, Elsevier, vol. 19(3), pages 411-436, May.
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- De Clercq, Dirk & Sapienza, Harry J., 2006. "Effects of relational capital and commitment on venture capitalists' perception of portfolio company performance," Journal of Business Venturing, Elsevier, vol. 21(3), pages 326-347, May.
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