Das, Sanjiv R.; Jo, Hoje; Kim, Yongtae - In: Journal of Financial Intermediation 20 (2011) 2, pp. 199-230
Using an effort-sharing framework for VC syndicates, we assess how syndication impacts investment returns, chances of successful exit, and the time taken to exit. With data from 1980 to 2003, and applying apposite econometrics for endogeneity to these different performance measures, we are able...