Abstract
A framework of the venture capital (VC) process, encompassing the (1) pre-investment phase, (2) management phase, (3) exit phase, and the interrelationships between them was developed into a cycle using the exit phase in a feedback loop. The review of 166 articles from top-tier, Grade 4, journals suggests that most prominent Entrepreneurial & Management (E&M) literature assesses the VC operating environment, and the managerial expertise and skills of both VC firms and entrepreneurs independently. Finance Literature, however, centers its independent analysis on contracts, risk, returns and VC governance. A network analysis follows comparing E&M and Finance literature VC research agendas by country, author, institution, and journal. Finally, the manuscript identifies trends and future areas for VC cycle research by comparing and exploring the current state and progress of the VC cycle in Entrepreneurial literature.
Appendix
A-I | A-II | A-III | A-IV | B-I | B-II | B-III | B-IV | C-I | |
---|---|---|---|---|---|---|---|---|---|
A-I | 30-38-42-44-54-57-61-84-89-90-95-97-108-109-112-113-125-134-136-138-142-148-155 | ||||||||
A-II | 123-160 | 12-51-126-147 | |||||||
A-III | 16-85 | 88-151 | 13-26-29-65-74-92-133 | ||||||
A-IV | 43-99-100-165 | 60 | 7-153 | ||||||
B-I | 46-124 | 103 | 34-149 | 1-11-32-35-128 | |||||
B-II | 6-23-72-93-102-116-127 | 4-69-143 | 2-19-31 | 146 | 73-101-161 | 3-9-14-15-17-18-25-28-36-39-41-48-49-53-55-56-70-76-80-111-120-121-150-159 | |||
B-III | 110 | 164 | 141 | 166 | 66-104-129 | 58 | |||
B-IV | 24-40-45-50 | 135-157 | 152 | 21-33 | 10-115 | 5-67-71-91-94-98-132-154-156 | 118-140 | 8-64-79-106-131 | |
C-I | 22-63 | 77 | 162 | 117 | 20-27 | 37 | 59-86-87-107-137 | 62-75-81-119-130-139-158 | 47-52-82-83-96-105-144-145-163 |
ID | Linkage | Title | Author(s) | Year | Source |
---|---|---|---|---|---|
1 | BII | The Non-consensus Entrepreneur: Organizational Responses to Vital Events | Pontikes, Elizabeth G.; Barnett, William | 2017 | ADMINISTRATIVE SCIENCE QUARTERLY |
2 | AII-BII | A review and road map of entrepreneurial equity financing research: venture capital, corporate venture capital, angel investment, crowdfunding, and accelerators | Drover, Busenitz, Matusik, Townsend, Anglin and Dushnitsky | 2017 | JOURNAL OF MANAGEMENT |
3 | BII | Unpacking the CEO-board relationship: how strategy making happens in entrepreneurial firms | Garg and Eisenhardt | 2017 | ACADEMY OF MANAGEMENT JOURNAL |
4 | AII-BII | The conditional importance of prior ties: a group-level analysis of venture capital syndication | Zhang, Gupta, and Hallen | 2017 | ACADEMY OF MANAGEMENT JOURNAL |
5 | BIII-BIV | Diversification, risk, and returns in venture capital | Buchner, Axel; Mohamed, Abdulkadir; Schwienbacher, Armin | 2017 | JOURNAL OF BUSINESS VENTURING |
6 | AI-BII | Venturing into the unknown with strangers: Substitutes of relational embeddedness in cross-border partner selection in venture capital syndicates | Meuleman, Miguel; Jaaskelainen, Mikko; Maula, Markku V. J.; et ál. | 2017 | JOURNAL OF BUSINESS VENTURING |
7 | AIV | The Influence of Exploration on External Corporate Venturing Activity | Titus, Varkey, Jr.; House, Jenny M.; Covin, Jeffrey G | 2017 | JOURNAL OF MANAGEMENT |
8 | BIV | Risk-Adjusting the Returns to Venture Capital | Korteweg and Nagel | 2016 | JOURNAL OF FINANCE |
9 | BII | A comparison of the effect of angels and venture capitalists on innovation and value creation | Dutta, Supradeep; Folta, Timothy B. | 2016 | JOURNAL OF BUSINESS VENTURING |
10 | BI-BIV | Corporate venture capital portfolios and firm innovation | Wadhwa, Anu; Phelps, Corey; Kotha, Suresh | 2016 | JOURNAL OF BUSINESS VENTURING |
11 | BI | Posturing and Holdup in Innovation | Khanna, Naveen; Mathews, Richmond D. | 2016 | REVIEW OF FINANCIAL STUDIES |
12 | AII | Gender Stereotypes and Venture Support Decisions: How Governmental Venture Capitalists Socially Construct Entrepreneurs’ Potential | Malmstrom, Malin; Johansson, Jeaneth; Wincent, Joakim | 2016 | ENTREPRENEURSHIP THEORY AND PRACTICE |
13 | AIII | The Best of Both Worlds: The Benefits of Open-specialized and Closed-diverse Syndication Networks for New Ventures’ Success | Ter Wal, Anne L. J.; Alexy, Oliver; Block, Joern; et ál | 2016 | ADMINISTRATIVE SCIENCE QUARTERLY |
14 | BII | Taking a Second Look in a Warped Crystal Ball: Explaining the Accuracy of Revised Forecasts | Bacon-Gerasymenko, Violetta; Coff, Russell; Durand, Rodolphe | 2016 | JOURNAL OF MANAGEMENT STUDIES |
15 | BII | When do entrepreneurs accurately evaluate venture capital firms’ track records? A bounded rationality perspective | Hallen and Pahnke | 2016 | ACADEMY OF MANAGEMENT JOURNAL |
16 | AI-AIII | Local partnering in foreign ventures: uncertainty, experiential learning, and syndication in cross-border venture capital investments | Liu and Maula | 2016 | ACADEMY OF MANAGEMENT JOURNAL |
17 | BII | Misfit and milestones: structural elaboration and capability reinforcement in the evolution of entrepreneurial top management teams | Ferguson, Cohen, Burton, et al. | 2016 | ACADEMY OF MANAGEMENT JOURNAL |
18 | BII | Venture capital ownership as a contingent resource: how owner-firm fit influences IPO outcomes | Lungeanu and Zajac | 2016 | ACADEMY OF MANAGEMENT JOURNAL |
19 | AIII-BII | After the break-up: the relational and reputational consequences of withdrawals from venture capital syndicates | Zhelyazkov, Gulati | 2016 | ACADEMY OF MANAGEMENT JOURNAL |
20 | BI-CI | The Impact of Venture Capital Monitoring | Bernstein, Giroud, and Townsend | 2016 | JOURNAL OF FINANCE |
21 | AIV-BIV | The effect of trade secret legal protection on venture capital investments: Evidence from the inevitable disclosure doctrine | Castellaneta, Francesco; Conti, Raffaele; Veloso, Francisco M.; et ál. | 2016 | JOURNAL OF BUSINESS VENTURING |
22 | AI-CI | Do local and international venture capitalists play well together? The complementarity of local and international venture capitalists | Chemmanur, Thomas J.; Hull, Tyler J.; Krishnan, Karthik | 2016 | JOURNAL OF BUSINESS VENTURING |
23 | AI-BII | Escalation of commitment in venture capital decision making: Differentiating between domestic and international investors | Devigne, David; Manigart, Sophie; Wright, Mike | 2016 | JOURNAL OF BUSINESS VENTURING |
24 | AI-BIV | Governmental venture capital in Europe: Screening and certification | Guerini and Quas | 2016 | JOURNAL OF BUSINESS VENTURING |
25 | BII | The Importance of Trust for Investment: Evidence from Venture Capital | Bottazzi, Laura; Da Rin, Marco; Hellmann, Thomas | 2016 | REVIEW OF FINANCIAL STUDIES |
26 | AIII | Lo Mio Es Tuyo: Financing Growth | Ruiz Massieu, Daniela; Gonzalez Brambila, Claudia | 2016 | ENTREPRENEURSHIP THEORY AND PRACTICE |
27 | BI-CI | Venture-Backed Firms: How Does Venture Capital Involvement Affect Their Likelihood of Going Public or Being Acquired? (vol 40, pg 991, 2016) | Ragozzino, Roberto; Blevins, Dane P. | 2016 | ENTREPRENEURSHIP THEORY AND PRACTICE |
28 | BII | What Can Scholars of Entrepreneurship Learn From Sound Family Businesses? | Miller, Danny; Steier, Lloyd; Le Breton-Miller, Isabelle | 2016 | ENTREPRENEURSHIP THEORY AND PRACTICE |
29 | AIII | Venture Capital Contracting in Theory and Practice: Implications for Entrepreneurship Research | Burchardt, Jens; Hommel, Ulrich; Kamuriwo, Dzidziso Samuel; et ál. | 2016 | ENTREPRENEURSHIP THEORY AND PRACTICE |
30 | AI | Comparative International Entrepreneurship: A Review and Research Agenda | Terjesen, Siri; Hessels, Jolanda; Li, Dan | 2016 | JOURNAL OF MANAGEMENT |
31 | AIII-BII | Where do spinouts come from? The role of technology relatedness and institutional context | Yeganegi, Sepideh; Laplume, Andre O.; Dass, Parshotam; et ál. | 2016 | RESEARCH POLICY |
32 | BI | The participation of new technology-based firms in EU-funded R&D partnerships: The role of venture capital | Colombo, Massimo G.; D’Adda, Diego; Pirelli, Lorenzo H. | 2016 | RESEARCH POLICY |
33 | AIV-BIV | The effect of patent litigation and patent assertion entities on entrepreneurial activity | Kiebzak, Stephen; Rafert, Greg; Tucker, Catherine E. | 2016 | RESEARCH POLICY |
34 | AIV-BI | Venture capital investments and the technological performance of portfolio firms | Lahr, Henry; Mina, Andrea | 2016 | RESEARCH POLICY |
35 | BI | Who Takes You to the Dance? How Partners’ Institutional Logics Influence Innovation in Young Firms | Pahnke, Emily Cox; Katila, Riitta; Eisenhardt, Kathleen M. | 2015 | ADMINISTRATIVE SCIENCE QUARTERLY |
36 | BII | (Un)Tangled: Exploring the Asymmetric Coevolution of New Venture Capital Firms’ Reputation and Status | Pollock, Timothy G.; Lee, Peggy M.; Jin, Kyuho; et ál. | 2015 | ADMINISTRATIVE SCIENCE QUARTERLY |
37 | BII-CI | Strategically camouflaged corporate governance in IPOs: Entrepreneurial masking and impression management | Benson, Brau, Cicon, et al. | 2015 | JOURNAL OF BUSINESS VENTURING |
38 | AI | Exposed: venture capital, competitor ties, and entrepreneurial innovation | Pahnke, McDonald, Wang and Hallen | 2015 | ACADEMY OF MANAGEMENT JOURNAL |
39 | AI-BIV | International Analysis of Venture Capital Programs of Large Corporations and Financial Institutions | Da Gbadji, Luc Armel G.; Gailly, Benoit; Schwienbacher, Armin | 2015 | ENTREPRENEURSHIP THEORY AND PRACTICE |
40 | AI | Navigating Political Hazard Risks and Legal System Quality: Venture Capital Investments in Latin America | Khoury, Theodore A.; Junkunc, Marc; Mingo, Santiago | 2015 | JOURNAL OF MANAGEMENT |
41 | AI-BIV | Quality signals? The role of patents, alliances, and team experience in venture capital financing | Hoenig, Daniel; Henkel, Joachim | 2015 | RESEARCH POLICY |
42 | AI-BI | Does governmental venture capital spur invention and innovation? Evidence from young European biotech companies | Bertoni, Fabio; Tykvova, Tereza | 2015 | RESEARCH POLICY |
43 | CI | The Effects of Government-Sponsored Venture Capital: International Evidence | Brander, Du and Hellmann | 2015 | REVIEW OF FINANCE |
44 | BII | Ethnic matching in the US venture capital market | Bengtsson and Hsu | 2015 | JOURNAL OF BUSINESS VENTURING |
45 | AI-BIV | Assessing the impact of public venture capital programmes in the United Kingdom: Do regional characteristics matter? | Manuri and Toschi | 2015 | JOURNAL OF BUSINESS VENTURING |
46 | CI | Social trust and angel investors’ decisions: A multilevel analysis across nations | Ding, Au and Chiang | 2015 | JOURNAL OF BUSINESS VENTURING |
47 | BII | Making sense of entrepreneurial exit strategies: A typology and test | DeTienne, McKelvie and Chandler, | 2015 | JOURNAL OF BUSINESS VENTURING |
48 | AI | Is a VC Partnership Greater Than the Sum of Its Partners? | Ewens and Rhodes-Kropf | 2015 | JOURNAL OF FINANCE |
49 | BII | Path-Dependent evolution versus international management of investment ties in science-based entreprenuerial firms | Vanacker, Manigart and Meuleman | 2014 | ENTREPRENEURSHIP THEORY AND PRACTICE |
50 | AI | National distances, international experience, and venture capital investment performance | Li, Vertinsky and Li | 2014 | JOURNAL OF BUSINESS VENTURING |
51 | BIV-CI | Trademarks and venture capital valuation | Block, De Vries, Schumann, et al. | 2014 | JOURNAL OF BUSINESS VENTURING |
52 | AI-CI | New insights into venture capitalists’ activity: IPO and time-to-exit forecast as antecedents of their post-investment involvement | Gerasymenko and Arthurs | 2014 | JOURNAL OF BUSINESS VENTURING |
53 | BIV | Hybrid vigor: securing venture capital by spanning categories in nanotechnology | Wry, Lounsbury and Jennings | 2014 | ACADEMY OF MANAGEMENT JOURNAL |
54 | AIII | How do social defenses work? A resource-dehow do social defenses work? A resource-dependence lens on technology ventures, venture capital investors, and corporate relationships | Hallen, Katila and Rosenberger | 2014 | ACADEMY OF MANAGEMENT JOURNAL |
55 | BII-BIII | Reputation and decision making under ambiguity: a study of us venture capital firms’ investments in the emerging clean energy sector | Petkova, Wadhwa, Yao and Jain | 2014 | ACADEMY OF MANAGEMENT JOURNAL |
56 | BII-BIV | Ambidexterity and Survival in Corporate Venture Units | Hill, Susan A.; Birkinshaw, Julian | 2014 | JOURNAL OF MANAGEMENT |
57 | BII | Government, venture capital and the growth of European high-tech entrepreneurial firms | Grilli, Luca; Murtinu, Samuele | 2014 | RESEARCH POLICY |
58 | BII-BIV | How patenting informs VC investors - The case of biotechnology | Haeussler, Carolin; Harhoff, Dietmar; Mueller, Elisabeth | 2014 | RESEARCH POLICY |
59 | AI-BII | Are patents signals for the IPO market? An EU-US comparison for the software industry | Useche, Diego | 2014 | RESEARCH POLICY |
60 | AIII | The diminishing signaling value of patents between early rounds of venture capital financing | Hoenen, Sebastian; Kolympiris, Christos; Schoenmakers, Wilfred; et ál. | 2014 | RESEARCH POLICY |
61 | BII | How does governmental versus private venture capital backing affect a firm’s efficiency? Evidence from Belgium | Alperovych, Huebner, and Lobet, | 2014 | JOURNAL OF BUSINESS VENTURING |
62 | BII | Corporate venture capital, value creation, and innovation. | Chemmanur, Loutskina and Tian | 2014 | REVIEW OF FINANCIAL STUDIES |
63 | BIV-CI | Do networks of financial intermediaries help reduce local bias? Evidence from cross-border venture capital exits | Jaaskelainen and Maula | 2014 | JOURNAL OF BUSINESS VENTURING |
64 | BIV | Does acquiring venture capital pay off for the funded firms? A meta-analysis on the relationship between venture capital investment and funded firm financial performance | Rosenbusch, Brinckmann and Müller | 2013 | JOURNAL OF BUSINESS VENTURING |
65 | AII-AIII | Power source mismatch and the effectiveness of interorganizational relations: the case of venture capital syndication | Ma, Rhee and Yang | 2013 | ACADEMY OF MANAGEMENT JOURNAL |
66 | AI | Signals across multiple networks: how venture capital and alliance networks affect interorganizational collaboration | Ozmel, Reuer and Gulati | 2013 | ACADEMY OF MANAGEMENT JOURNAL |
67 | AI | The Relationship between Slack Resources and the Performance of Entrepreneurial Firms: The Role of Venture Capital and Angel Investors | Vanacker, Collewaert and Paeleman | 2013 | JOURNAL OF MANAGEMENT STUDIES |
68 | BII-BIV | How Employees’ Prior Affiliations Constrain Organizational Network Change: A Study of U.S. Venture Capital and Private Equity | Rider, Christopher I. | 2012 | ADMINISTRATIVE SCIENCE QUARTERLY |
69 | AIII | Two Sides of the Same Coin: How Ambiguous Classification Affects Multiple Audiences’ Evaluations | Pontikes, Elizabeth G. | 2012 | ADMINISTRATIVE SCIENCE QUARTERLY |
70 | AI-BII | Catalizing strategies and efficient tie formation: How entrepreneurial firms obtain investment ties | Hallen and Eisenhardt | 2012 | ACADEMY OF MANAGEMENT JOURNAL |
71 | AI | Which CEO Characteristics and Abilities Matter? | Kaplan, Klebanov and Sorensen | 2012 | JOURNAL OF FINANCE |
72 | BII-BIV | Which iron cage? Endo- and exoisomorphism in corporate venture capital programs | Souitaris, Zerbinati and Liu | 2012 | ACADEMY OF MANAGEMENT JOURNAL |
73 | AI-AIV | How venture capitalists spur invention in Spain: Evidence from patent trajectories | Arque-Castells, Pere | 2012 | RESEARCH POLICY |
74 | BI-BII | Venture Capital Syndication: Synthesis and future directions, International Journal of Management Review | Jääskeläinen | 2012 | INTERNATIONAL JOURNAL OF MANAGEMENT REVIEW |
75 | BII-BIII | On the Life Cycle Dynamics of Venture-Capital- and Non-Venture-Capital-Financed Firms | Puri and Zarutskie | 2012 | JOURNAL OF FINANCE |
76 | BIV | Venturing into new territory: career experiences of corporate venture capital managers and practice variation | Dokko and Gaba | 2012 | ACADEMY OF MANAGEMENT JOURNAL |
77 | AI | Venture Capital Reputation, Post-IPO Performance, and Corporate Governance | Krishnan, Ivanov Masulis and Singh | 2011 | JOURNAL OF FINANCIAL AND QUANTITATIVE ANALYSIS |
78 | AI | I Like How You Think’: Similarity as an Interaction Bias in the Investor-Entrepreneur Dyad | Murnieks, Charles Y.; Haynie, J. Michael; Wiltbank, Robert E.; et ál. | 2011 | JOURNAL OF MANAGEMENT STUDIES |
79 | BI-BIV | Venture capital financing and the growth of high-tech start-ups: Disentangling treatment from selection effects | Bertoni, Colombo and Grilli | 2011 | RESEARCH POLICY |
80 | AI-AIII | Venture capital, entrepreneurship, and economic growth | Samila and Sorenson | 2011 | REVIEW OF ECONOMICS AND STATISTICS |
81 | AI-BII | How does venture capital financing improve efficiency in private firms? A look beneath the surface. | Chemmanur, Krishnan and Nandy | 2011 | REVIEW OF FINANCIAL STUDIES |
82 | AIV-CI | US biopharmaceutical finance and the sustainability of the biotech business model | Lazonick, William; Tulum, Oener | 2011 | RESEARCH POLICY |
83 | BIII-BIV | Spatial collocation and venture capital in the US biotechnology industry | Kolympiris, Christos; Kalaitzandonakes, Nicholas; Miller, Douglas | 2011 | RESEARCH POLICY |
84 | BIV-CI | Inside multi-disciplinary science and engineering research centers: The impact of organizational climate on invention disclosures and patents | Hunter, Emily M.; Perry, Sara Jansen; Currall, Steven C. | 2011 | RESEARCH POLICY |
85 | BII | Towards understanding who makes corporate venture capital investments and why | Basu, Phelps and Kotha | 2011 | JOURNAL OF BUSINESS VENTURING |
86 | BII | Assessing the contribution to innovation of private equity investors: A study on European buyouts | Ughetto, Elisa | 2010 | RESEARCH POLICY |
87 | AI-BII | Partner Selection Decisions in Interfirm Collaborations: The Paradox of Relational Embeddedness | Meuleman, Miguel; Lockett, Andy; Manigart, Sophie; et ál. | 2010 | JOURNAL OF MANAGEMENT STUDIES |
88 | BII-BIII | Networking as a Barrier to Entry and the Competitive Supply of Venture Capital | Hochberg, Ljungqvist and Lu | 2010 | JOURNAL OF FINANCE |
89 | BIV-CI | Institutions and the internationalization of US venture capital firms | Guler and Guillen | 2010 | JOURNAL OF INTERNATIONAL BUSINESS STUDIES |
90 | BIV | Local bias in venture capital investments | Cumming and Dai | 2010 | JOURNAL OF EMPIRICAL FINANCE |
91 | BII-BIV | The role of top management team human capital in venture capital markets: Evidence from first-time funds | Zarutskie | 2010 | JOURNAL OF BUSINESS VENTURING |
92 | AIII | The interplay of need and opportunity in venture capital investment syndication | Dimov and Milanov | 2010 | JOURNAL OF BUSINESS VENTURING |
93 | AI | Firm Experience and Market Entry by Venture Capital Firms (1962 – 2004) | Dimov and De Holan | 2010 | JOURNAL OF MANAGEMENT STUDIES |
94 | AI | Performance Persistence in Entrepreneurship and Venture Capital | Gompers, Kovner, Lerner and Scharfstein | 2010 | JOURNAL OF FINANCIAL ECONOMICS |
95 | BIII-CI | Home country networks and foreign expansion: evidence from the venture capital industry | Guler and Guillen | 2010 | ACADEMY OF MANAGEMENT JOURNAL |
96 | AI | Executive Incentive Schemes in Initial Public Offerings: The Effects of Multiple-Agency Conflicts and Corporate Governance | Allcock, Deborah; Filatotchev, Igor | 2010 | JOURNAL OF MANAGEMENT |
97 | AIV-BIII | Venture capital as a catalyst to commercialization | Samila, Sampsa; Sorenson, Olav | 2010 | RESEARCH POLICY |
98 | AII-BII | Nascent Entrepreneurs and Venture Emergence: Opportunity Confidence, Human Capital, and Early Planning | Dimov | 2010 | JOURNAL OF MANAGEMENT STUDIES |
99 | CI | Legality and venture capital governance around the world | Cumming, Schmidt and Walz | 2010 | JOURNAL OF BUSINESS VENTURING |
100 | CI | A property rights perspective on Venture Capital Investment Decisions | Dimov and Gedajlovic | 2010 | JOURNAL OF MANAGEMENT STUDIES |
101 | AIV-BII | Why Networks Enhance the Progress of New Venture Creation: The Influence of Social Capital and Cognition | De Carolis, Litzky and Eddleston | 2009 | ENTREPRENEURSHIP THEORY AND PRACTICE |
102 | BII | Corporate venturing and value creation: A review and proposed framework | Narayanan, V. K.; Yang, Yi; Zahra, Shaker A. | 2009 | RESEARCH POLICY |
103 | AII-AIII | Constraints on the Control Benefits of Brokerage: A Study of Placement Agents in US Venture Capital Fundraising | Rider, Christopher I. | 2009 | ADMINISTRATIVE SCIENCE QUARTERLY |
104 | AIII-BIV | Corporate venture capital and the balance of risks and rewards for portfolio companies | Maula, Autio, and Murray | 2009 | JOURNAL OF BUSINESS VENTURING |
105 | AIV | IPO Research in Management and Entrepreneurship: Moving the Agenda Forward | Certo, S. Trevis; Holcomb, Tim R.; Holmes, R. Michael, Jr. | 2009 | JOURNAL OF MANAGEMENT |
106 | BII-BIV | Risk and Return Characteristics of Venture Capital-Backed Entrepreneurial Companies | Korteweg and Sorensen | 2008 | REVIEW OF FINANCIAL STUDIES |
107 | AII-BIV | Venture capital reputation and investment performance | Nahata | 2008 | JOURNAL OF FINANCIAL ECONOMICS |
108 | CI | Building an innovation hub: A case study of the transformation of university roles in regional technological and economic development | Youtie, Jan; Shapira, Philip | 2008 | RESEARCH POLICY |
109 | BII | The tyranny of distance’: Biotechnology networks and clusters in the antipodes | Gilding, Michael | 2008 | RESEARCH POLICY |
110 | AIII-CI | Research and Technology Commercialization | Markman, Gideon D.; Siegel, Donald S.; Wright, Mike | 2008 | JOURNAL OF MANAGEMENT STUDIES |
111 | CI | The causes and consequences of the initial network positions of new organizations: From who do entrepreneursreceive investments? | Hallen | 2008 | ADMINISTRATIVE SCIENCE QUARTERLY |
112 | AI | The fallacy of “only the strong survive”: The effects of extrinsic motivation on the persistence decisions for under-performing firms | De Tienne, Shepherd and De Castro | 2008 | JOURNAL OF BUSINESS VENTURING |
113 | AI | Crossing the organizational species barrier: how venture capital practices infiltrated the information technology sector | Gaba and Meyer | 2008 | ACADEMY OF MANAGEMENT JOURNAL |
114 | BI-BIV | Who are the active investors? Evidence from venture capital | Bottazzi, Da Rin and Hellmann | 2008 | JOURNAL OF FINANCIAL ECONOMICS |
115 | AI-AIII | Bringing the context back in: Settings and the search for syndicate partners in venture capital investment networks | Sorenson, and Stuart | 2008 | ADMINISTRATIVE SCIENCE QUARTERLY |
116 | AI-BII | Venture capital investment cycles: The impact of public markets | Gompers, Kovner, Lerner and Scharfstein | 2008 | JOURNAL OF FINANCIAL ECONOMICS |
117 | AIV-CI | Contracts and exits in venture capital finance | Cumming | 2008 | REVIEW OF FINANCIAL STUDIES |
118 | BIII-BIV | Internal knowledge development and external knowledge access in venture capital investment performance | De Clercq and Dimov | 2008 | JOURNAL OF MANAGEMENT STUDIES |
119 | BIV-CI | Innovation and Venture Capital Exits | Schwienbacher | 2008 | THE ECONOMIC JOURNAL |
120 | BII | Corporate Venture Capital, Disembodied Experimentation and Capability Development | Keil, Autio and George | 2008 | JOURNAL OF MANAGEMENT STUDIES |
121 | BII | Firm and group influences on venture capital firms’ involvement in new ventures | De Clercq, Sapienza and Zaheer | 2008 | JOURNAL OF MANAGEMENT STUDIES |
122 | AIV | Patents, venture capital, and software start-ups | Mann and Sager | 2007 | RESEARCH POLICY |
123 | AI-AII | Profit distribution and compensation structures in publicly and privately funded hybrid venture capital funds | Jaaskelainen, Mikko; Maula, Markku; Murray, Gordon | 2007 | RESEARCH POLICY |
124 | AI-BI | Commercialization of patents and external financing during the R&D phase | Svensson, Roger | 2007 | RESEARCH POLICY |
125 | AI | Public provision of sales contingent claims backed finance to SMEs: A policy alternative | Kaivanto, Kim; Stoneman, Paul | 2007 | RESEARCH POLICY |
126 | AII | Bankruptcy law and entrepreneurship development: A real options perspective | Lee, Seung-Hyun; Peng, Mike W.; Barney, Jay B. | 2007 | ACADEMY OF MANAGEMENT REVIEW |
127 | AI-BII | Requisite expertise, firm reputation, and status in venture capital investment allocation decisions | Dimov, Shepherd and Sutcliffe | 2007 | JOURNAL OF BUSINESS VENTURING |
128 | BI | How Smart is Smart Money? An Empirical Two-Sided Matching Model of Venture Capital | Sorensen | 2007 | JOURNAL OF FINANCE |
129 | BII-BIII | Experienced entrepreneurial founders, organizational capital, and venture capital funding | Hsu | 2007 | RESEARCH POLICY |
130 | BIV-CI | Throwing good money after bad? Political and institutional influences on sequential decision making in the venture capital industry | Guler | 2007 | ADMINISTRATIVE SCIENCE QUARTERLY |
131 | BIV | Entrepreneurs from Technology-based Universities: Evidence from MIT | Hsu, Roberts and Eesley | 2007 | RESEARCH POLICY |
132 | BII-BIV | Whom you know matters: Venture capital networks and investment performance | Hochberg, Ljungqvist and Lu | 2007 | JOURNAL OF FINANCE |
133 | AIII | University spin-out companies and venture capital | Wright, Lockett, Clarysse and Binks | 2006 | RESEARCH POLICY |
134 | AI | Venture capital in emerging economies: Networks and institutional change | Ahlstrom and Bruton | 2006 | ENTREPRENEURSHIP THEORY AND PRACTICE |
135 | AII-BIV | When does corporate venture capital investment create firm value? | Dushnitsky, and Lenox | 2006 | JOURNAL OF BUSINESS VENTURING |
136 | AI | Creating venture capital industries that co-evolve with high tech: Insights from an extended industry life cycle perspective of the Israeli experience | Avnimelech and Teubal | 2006 | RESEARCH POLICY |
137 | BIII-CI | Venture Capitalists and Cooperative Start-up Commercialization Strategy | Hsu | 2006 | MANAGEMENT SCIENCE |
138 | AI | Institutional influences on the worldwide expansion of venture capital | Bruton, Fried and Manigart | 2005 | ENTREPRENEURSHIP THEORY AND PRACTICE |
139 | BIV-CI | The risk and return of venture capital | Cochrane | 2005 | JOURNAL OF FINANCIAL ECONOMICS |
140 | BIII-BIV | When do incumbents learn from entrepreneurial ventures? Corporate venture capital and investing firm innovation rates | Dushnitsky and. Lenox | 2005 | RESEARCH POLICY |
141 | AIV-BIII | Agency costs, institutions, learning, and taxation in venture capital contracting | Cumming | 2005 | JOURNAL OF BUSINESS VENTURING |
142 | AI | Financing new ventures in China: System antecedents and institutionalization | White, S; Gao, J; Zhang, W | 2005 | RESEARCH POLICY |
143 | AII-BII | Picking winners or building them? Alliance, intellectual, and human capital as selection criteria in venture financing and performance of biotechnology startups | Baum and Silverman | 2004 | JOURNAL OF BUSINESS VENTURING |
144 | CI | Grandstanding, certification and the underpricing of venture capital backed IPOs | Lee and Wahal | 2004 | JOURNAL OF FINANCIAL ECONOMICS |
145 | CI | Venture capital financing, strategic alliances, and the initial public offerings of Internet startups | Chang | 2004 | JOURNAL OF BUSINESS VENTURING |
146 | AIV-BII | What do entrepreneurs pay for venture capital affiliation? | Hsu | 2004 | JOURNAL OF FINANCE |
147 | AII | Banks versus venture capital: Project evaluation, screening, and expropriation | Ueda | 2004 | JOURNAL OF FINANCE |
148 | AI | Rethinking the public sector: idiosyncrasies of biotechnology commercialization as motors of national R&D reform in Germany and Japan | Lehrer, M; Asakawa, K | 2004 | RESEARCH POLICY |
149 | AIV-BI | Characteristics, contracts, and actions: Evidence from venture capitalist analyses | Kaplan and Stromberg | 2004 | JOURNAL OF FINANCE |
150 | BII | Building external corporate venturing capability | Keil | 2004 | JOURNAL OF MANAGEMENT STUDIES |
151 | AII-AIII | The Structure and Management of Alliances: Syndication in the Venture Capital Industry | Wright and Lockett | 2003 | JOURNAL OF MANAGEMENT STUDIES |
152 | AIII-BIV | Venture-Capital Financing and the Growth of Startup Firms | Davila, Foster and Guptab | 2003 | JOURNAL OF BUSINESS VENTURING |
153 | AIV | Convertible securities and venture capital finance | Schmidt | 2003 | JOURNAL OF FINANCE |
154 | BII-BIV | The governance and performance of Xerox’s technology spin-off companies | Chesbrough, H | 2003 | RESEARCH POLICY |
155 | AI | Why do some universities generate more start-ups than others? | Di Gregorio, D; Shane, S | 2003 | RESEARCH POLICY |
156 | BII-BIV | VCs’ decision processes: Evidence suggesting more experience may not always be better | Shepherd, Zacharakis and Baron | 2003 | JOURNAL OF BUSINESS VENTURING |
157 | AII-BIV | Determinants of required return in venture capital investments: a five-country study | Manigart, De Waele, Wright, Robbie, Desbrieres, Sapienza, Beekman | 2002 | JOURNAL OF BUSINESS VENTURING |
158 | BIV-CI | Is it worth it? The rates of return from informal venture capital investments | Mason and Harrison | 2002 | JOURNAL OF BUSINESS VENTURING |
159 | BII | Entrepreneurial capital: the emerging venture’s most important asset and competitive advantage | Erikson | 2002 | JOURNAL OF BUSINESS VENTURING |
160 | AI-AII | Do UK venture capitalists still have a bias against investment in new technology firms | Lockett, A; Murray, G; Wright, M | 2002 | RESEARCH POLICY |
161 | BI-BII | Venture capital and the professionalization of start-up firms: Empirical evidence | Hellmann and Puri | 2002 | JOURNAL OF FINANCE |
162 | AIII-CI | The venture capital revolution | Gompers and Lerner | 2001 | JOURNAL OF ECONOMIC PERSPECTIVES |
163 | CI | The expiration of IPO share lockups | Field and Hanka | 2001 | JOURNAL OF FINANCE |
164 | AIII-BIII | The Interaction Between Product Market and Financing Strategy: The Role of Venture Capital | Hellmann and Puri | 2000 | THE REVIEW OF FINANCIAL STUDIES |
165 | AI-AIV | New venture strategy and profitability: A venture capitalist’s assessment | Shepherd, Ettenson and Crouch | 2000 | JOURNAL OF BUSINESS VENTURING |
166 | BI-BIII | Venture capital and the birth of the local area networking industry | Von Burg, U; Kenney, M | 2000 | RESEARCH POLICY |
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