Vries, Geertjan De; Block, Joern H. - In: Venture Capital 13 (2011) 3, pp. 195-213
This study analyses the effects of the 2000--2001 dot-com crisis and the 2008--2009 financial crisis on venture capital syndication. Using propensity score matching analysis, we show that during the two crises, venture capital firms (VCFs) had a <italic>lower</italic> tendency to syndicate their investments, and...