This paper employs the 2008 financial crisis as an empirical setting to examine how investment strategies of venture capitalists (VCs) vary in the presence of a liquidity supply shock, and what the performance implications of these strategies are for their portfolio startups. We show that while,...

This paper explores how prominent VCs affect CEO replacement in startups. Defining prominence using eigenvector centrality, we employ matching methods and instrumental variables to show that startup CEO replacement occurs more often, and faster, when prominent VCs participate. We further explore...

This paper explores how prominent VCs affect CEO replacement in startups. Defining prominence using eigenvector centrality, we employ matching methods and instrumental variables to show that startup CEO replacement occurs more often, and faster, when prominent VCs participate. We further explore...

This paper investigates how patent applications and grants held by new ventures improve their ability to attract venture capital (VC) financing. We argue that investors are faced with considerable uncertainty and therefore rely on patents as signals when trying to assess the prospects of...