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 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

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.

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

scholarly journals Ownership, board structure, and corporate performance: Evidence of French VC-backed firms

2010 ◽  
Vol 6 (3) ◽  
pp. 7-20 ◽  
Author(s):  
Amina Hamdouni
Keyword(s):  
Firm Performance ◽  
Venture Capital ◽  
Ownership Structure ◽  
Ownership Concentration ◽  
Board Structure ◽  
Outside Directors ◽  
Strong Relation ◽  
And Performance ◽  
Capital Ownership ◽  
Director Ownership

The purpose of this paper is to examine the effect of ownership structure and board structure on performance in VC-backed firms. Using 106 French VC-backed firms, our methodology in this paper is to estimate four equations. A regression analysis is then used to study the impact of ownership structure and board structure on performance and also to analyze whether ownership structure (ownership concentration, director ownership, venture capital ownership and employee ownership) and board variables (size, outside directors, COE-chairman duality, proportion of VC directors, proportion of employee directors and board meeting frequency) are significant determinants of VC-backed firm performance. Results indicate a strong positive relation between ownership concentration and performance and between director ownership and performance measured by ROE. And strong negative relation between ownership concentration and performance and between director ownership and performance measured by ROA. No strong relation was found between venture-capital ownership, employee ownership and firm performance. Results show also a strong negative relation between board size and performance measured by ROE and positive relation between board size and performance measured by ROA, Tobin’s Q and MVA. The proportion of independent outside directors on the board was positively associated with ROE and negatively associated with ROA. The presence of a dual leadership structure is negatively associated with ROE and positively associated with ROA. No strong relation was found between the proportion of venture-capital in board, the presence of employee in board, or board meeting frequency and firm performance.

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