This paper uses a unique dataset to examine the neglected but important issue concerning the relationship between the human capital and fund characteristics of venture capitalists and post-investment follow-up behavior in early stage high tech investments. We found no indication that involvement...

This paper explores the different incubation strategies for spinning-out companies employed by European Research Institutions. More specifically we focus on two central questions: (i) What differences or similarities are there in the goals and objectives of the Research Institutions for creating...

In this paper, we study which VC firm and investment manager related factors drive the VC’s attitude towards academic spin-out investing by taking an agency and human capital perspective. In order to do so, we use a unique hand-collected dataset involving 68 investment managers working at...

This study examines the selection behaviour of 68 European early stage high tech VCs. In particular, we examine whether or not these VCs exhibit heterogeneity in their selection behaviour. To examine these issues we employ a conjoint analysis methodology. Our results indicate that VCs exhibit...

Drawing from the resource-based view and transaction costs economics, we develop a theoretical framework to explain why small and large firms face different levels of resource access needs and resource access capabilities, which mediate the relationship between firm size and hybrid governance....

Empirical results on the relationship between uncertainty and interfirm cooperation are conflicting. To address this puzzle, we distinguish between two different sources of uncertainty: primary and behavioral uncertainty. We hypothesize that the effect of primary uncertainty on interfirm...

While one stream of research in partner selection has emphasized stability in a firm’s social network, another stream has emphasized the need to expand a firm’s network. In order to reconcile these two perspectives, we explore transaction, partner and macro conditions that lead firms to work...

We examine the neglected area of internationalisation by VCs. Using a representative sample of 195 VCs, we show that the decision of a European VC firm to invest internationally is driven by its human resources. Having more VC executives in general and more VC executives with previous...

Financial theory, access to deal flow, selection and monitoring skills are used to explain syndication in venture capital (VC) firms in six European countries. In contrast with US findings, portfolio management motives are more important for syndication than individual deal management motives....

Objective: The objective of this study was to set up a standard cost model for breast-cancer treatment to be able to complete a cost-effectiveness analysis of Herceptin®. This is a new biotechnological pharmaceutical developed by Genentech. Herceptin® is a humanized monoclonal antibody that...