A Longitudinal Study on the Impact of Venture Capital Firm Heterogeneity on Portfolio Company Growth

2009 ◽  
Author(s):  
Tom R. Vanacker
Keyword(s):  
Longitudinal Study ◽  
Venture Capital ◽  
Firm Heterogeneity ◽  
Venture Capital Firm ◽  
Portfolio Company ◽  
Company Growth ◽  
The Impact

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

Success in Global Venture Capital Investing: Do Institutional and Cultural Differences Matter?

2014 ◽  
Vol 49 (4) ◽  
pp. 1039-1070 ◽  
Author(s):  
Rajarishi Nahata ◽  
Sonali Hazarika ◽  
Kishore Tandon
Keyword(s):  
Venture Capital ◽  
Cultural Differences ◽  
Emerging Economies ◽  
Cultural Distance ◽  
Legal Rights ◽  
Liability Of Foreignness ◽  
Developed Economies ◽  
Portfolio Company ◽  
Developed Stock Markets ◽  
The Impact

AbstractWe analyze the impact of institutional and cultural differences on success in global venture capital (VC) investing. In both developed and emerging economies, superior legal rights (and enforcement) and better developed stock markets significantly enhance VC performance. Remarkably, cultural distance between countries of the portfolio company and its lead investorpositivelyaffects VC success. Further analysis reveals that cultural differences create incentives for rigorous ex ante screening, improving VC performance. Finally, local VC participation enhances success and mitigates foreign VCs’ “liability of foreignness,” albeit only in developed economies. Our findings follow from analyzing VC investments in nearly 10,000 companies across 30 countries.

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