Showing 1 - 10 of 253,257
We assess whether a VC’s intrinsic commitment to a startup affects investment performance. We proxy for climate change commitment using the political contributions to democrats of the lead VC person on a deal. We find investments by democrats in climate-related startups have 8% higher...
Persistent link: https://www.econbiz.de/10014236837
We provide causal evidence that venture capitalists (VCs) improve the performance of their portfolio companies by replacing founders. Augmenting a database of U.S.-based, VC-backed startups founded from 1995-2008 with hand-collected information regarding turnover, we exploit shocks to the supply...
Persistent link: https://www.econbiz.de/10012936583
Venture capital (VC) backed firms face neither the governance requirements nor a major separation of ownership and control of their public peers. These differences suggest that independent directors could play a unique role on private firm boards. This paper explores the dynamics of VC-backed...
Persistent link: https://www.econbiz.de/10012829455
We document substantial variation across startups in whether and when they appoint outside directors, and the type of directors they appoint. The startup-director match depends on professional connections and individual experience profiles. Early-stage investors are more likely to serve as...
Persistent link: https://www.econbiz.de/10014033083
This study investigates the determinants of venture capital (VC) performance in China. We focus on the impact of VC … reputation, political connections, and managing partner/founder's experience on the performance of domestic and foreign VC … factors, we find little correlation between VC reputation and investment performance in the Chinese market. In contrast, we …
Persistent link: https://www.econbiz.de/10013072710
in the People's Republic of China (PRC) after an initial public offering (IPO). Firm-level panel data analysis shows that …
Persistent link: https://www.econbiz.de/10012995333
This paper investigates venture capitalists' monitoring of managerial behaviour by examining their impact on CEO pay-performance sensitivity across various controlling structures in Chinese firms. We find that the effectiveness of venture capitalists' monitoring depends on different types of...
Persistent link: https://www.econbiz.de/10013047814
This study contributes to the debate on VC-related policies that aim to support the growth of young high-tech firms in the EU. The study provides a systematic review of the results of 22 firm-level studies that estimate causal effects of VC using counterfactual impact evaluation methods and data...
Persistent link: https://www.econbiz.de/10014533546
Despite the central role played by human capital in entrepreneurship, little is known about how employees in entrepreneurial firms are compensated and incentivized. We address this gap in the literature by studying 18,935 non-CEO compensation contracts across 1,809 privately-held venture-backed...
Persistent link: https://www.econbiz.de/10009580783
With an overall lack of gender and ethnic diversity in the innovation sector documented in Gompers and Wang (2017), we ask the natural next question: Does increased diversity lead to better firm performances? In this paper, we attempt to answer this question using a unique dataset of the gender...
Persistent link: https://www.econbiz.de/10011901551