Who are the active investors? Evidence from Venture Capital
are the active investors? Evidence from Venture Capital Abstract: This paper examines the determinants and consequences of investor activism in venture capital. Using a hand-collected sample of European venture capital deals, it shows the importance of human capital. Venture capital firms with partners that have prior business experience are more active recruiting managers and directors, helping with fundraising, and interacting more frequently with their portfolio companies. Independent venture capital firms are also more active than 'captive' (bank-, corporate-, or government-owned) firms. After controlling for endogeneity, investor activism is shown to be positively related to the success of portfolio companies.
Year of publication: |
2007
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Authors: | Bottazzi, Laura ; Da Rin, Marco ; Hellmann, Thomas |
Publisher: |
Bologna : Alma Mater Studiorum - Università di Bologna, Dipartimento di Scienze Economiche (DSE) |
Saved in:
freely available
Series: | |
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Type of publication: | Book / Working Paper |
Type of publication (narrower categories): | Working Paper |
Language: | English |
Other identifiers: | 10.6092/unibo/amsacta/4641 [DOI] 615452566 [GVK] hdl:10419/159452 [Handle] RePEc:bol:bodewp:611 [RePEc] |
Source: |
Persistent link: https://www.econbiz.de/10011651505
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