scholarly journals Firm Performance and the Evolution of Cooperative Interfirm Networks: UK Venture Capital Syndication

2014 ◽  
Vol 23 (1-2) ◽  
pp. 107-118 ◽  
Author(s):  
Matthew Checkley ◽  
Christian Steglich ◽  
Duncan Angwin ◽  
Richard Endersby
Keyword(s):  
Firm Performance ◽  
Venture Capital ◽  
Interfirm Networks

scholarly journals Interfirm network structure and firm resources: Towards a unifying concept

2021 ◽  
Vol 17 (3) ◽  
pp. 227-264
Author(s):  
Jesse Karjalainen ◽  
◽  
Aku Valtakoski ◽  
Ilkka Kauranen ◽  
◽  
...  
Keyword(s):  
Firm Performance ◽  
Network Structure ◽  
Strategic Alliances ◽  
Resource Distribution ◽  
Theory And Practice ◽  
Integrated Analysis ◽  
Firm Resources ◽  
Network Resource ◽  
Interfirm Networks ◽  
Extant Literature

PURPOSE: The objective of this paper is to propose a concept of network resource distribution that systematically unifies the resource-based and network-based perspectives on interfirm networks and enables integrated analysis of how firm resources and network structure interact to affect firm performance. METHODOLOGY: This conceptual paper first reviews the extant literature on interfirm networks and then develops the unifying concept of network resource distribution. FINDINGS: The literature review indicates that strategy scholars have long sought to integrate the resource-based view and the social network explanations of firm performance but, thus far, only a partial integration has been achieved. In particular, studies on the resource-level heterogeneity of interfirm networks have largely been limited to the analysis of firm dyads. How firm resources and network structure beyond the immediate network partners interact to affect firm performance has not yet been adequately addressed. The proposed unified concept of network resource distribution systematizes prior research and illuminates how network structure and firm resources interact to affect firm performance beyond the immediate network partners. IMPLICATIONS FOR THEORY AND PRACTICE: For theory, this paper highlights gaps in the extant literature on interfirm networks and proposes a unifying concept that can be utilized to address these gaps and to develop further theory in the area. For practice, this paper encourages managers not to limit their analyses of strategic alliances to immediate partnerships; it is also crucial to consider the partners and their resources, and reflect on how they are related to one another outside of the immediate partnership portfolio. ORIGINALITY AND VALUE: Network resource distribution is a novel concept that ties together and systematizes various strands of research on interfirm networks, thus providing a foundation for future research in the area. The concept is also amenable to detailed operationalization, facilitating subsequent quantitative testing of theoretical arguments combining firm resources and the structure of a network.

Venture Capital Reputation, Post-IPO Performance, and Corporate Governance

2011 ◽  
Vol 46 (5) ◽  
pp. 1295-1333 ◽  
Author(s):  
C. N. V. Krishnan ◽  
Vladimir I. Ivanov ◽  
Ronald W. Masulis ◽  
Ajai K. Singh
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Venture Capital ◽  
Market Share ◽  
Initial Public Offering ◽  
Performance Measures ◽  
Ipo Performance ◽  
The Past ◽  
Long Run ◽  
Public Offering

AbstractWe examine the association of a venture capital (VC) firm’s reputation with the post-initial public offering (IPO) long-run performance of its portfolio firms. We find that VC reputation, measured by the past market share of VC-backed IPOs, has significant positive associations with long-run firm performance measures. While more reputable VCs initially select better-quality firms, more reputable VCs continue to be associated with superior long-run performance, even after controlling for VC selectivity. We find that more reputable VCs exhibit more active post-IPO involvement in the corporate governance of their portfolio firms, and this continued VC involvement positively influences post-IPO firm performance.

scholarly journals Intellectual Capital and Firm Performance in the Context of Venture-Capital Syndication Background in China

Complexity ◽  
2021 ◽  
Vol 2021 ◽  
pp. 1-17
Author(s):  
Yuzhong Lu ◽  
Zengrui Tian ◽  
Guillermo Andres Buitrago ◽  
Shuiwen Gao ◽  
Yuanjun Zhao ◽  
...  
Keyword(s):  
Firm Performance ◽  
Venture Capital ◽  
Intellectual Capital ◽  
Generalized Method Of Moments ◽  
Theoretical Development ◽  
Relational Capital ◽  
Return On Equity ◽  
Listed Firms ◽  
The Impact ◽  
Innovation Capital

This paper is intended to investigate the role of Venture-Capital Syndication (VCS) background in the relationship between intellectual capital (IC) and portfolio firm performance (PFP); specifically, this article examines the moderating effect of VCS’s leading firm background and member heterogeneity on the effect of IC on PFP. This study used a modified VAIC model to measure IC to compose a 4-component variable including human capital, structural capital, relational capital, and innovation capital. The data were collected from VCS-backed and listed firms in China during 2014 to 2018 applying the pooled OLS model for hypotheses test, Generalized Method of Moments (GMMs) to reduce endogeneity and unobserved factor control, and also return on equity (ROE) instead of ROA for the robustness test. Empirical results showed that IC and its components can improve PFP for VCS-backed firms in China; in detail, IC showed greater impact on performance of firms invested by foreign lead investors than in private or government VCS, specially reflected in the impact of innovation capital on PFP. Furthermore, IC showed weaker impact on PFP of mixed VCS-backed firms compared to pure VCS-backed firms and showed diminished effect on higher VCS member heterogeneity mainly reflected in the impact of relational capital on firm performance. These findings propose a new way of combining IC and VC to improve firm performance and are beneficial to theoretical development of IC and VC as well as a perspective for VC firm managers to choose suitable partners prior to join a VCS.

Labor Rights, Venture Capital, and Firm Performance

2016 ◽  
Vol 46 (1) ◽  
pp. 129-154 ◽  
Author(s):  
Xuejing Xing ◽  
John S. Howe ◽  
Randy I. Anderson ◽  
Shan Yan
Keyword(s):  
Firm Performance ◽  
Venture Capital ◽  
Labor Rights

scholarly journals The Impact of Investment Networks on Venture Capital Firm Performance: A Contingency Framework

2016 ◽  
Vol 28 (1) ◽  
pp. 102-119 ◽  
Author(s):  
Cristiano Bellavitis ◽  
Igor Filatotchev ◽  
Vangelis Souitaris
Keyword(s):  
Firm Performance ◽  
Venture Capital ◽  
Venture Capital Firm ◽  
The Impact ◽  
Contingency Framework
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