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Performance Dynamics of Venture-Financed Firms - An Empirical Study of the Swedish Venture Capital Market
| Content Provider | Semantic Scholar |
|---|---|
| Author | Lyxell, Frida Norden, Erik |
| Copyright Year | 2013 |
| Abstract | This paper investigates the performance of a sample of 154 venture capital (VC)-financed and 154 non-VC-financed firms from birth to exit on the Swedish market between the years 1998 and 2011. We find that VCfinanced firms achieve higher growth rates in sales than a matched sample of non-VC-financed firms. Somewhat contradictory we also find that nonVC-financed firms show significantly higher profit margins. For a subsample of 59 firms we conclude that the profit of VC-financed firms grow at a significantly higher rate after the time of investment than before, indicating a monitoring effect provided by VC-firms. We also examine a potential relationship between the experience of VC-firm and performance of VC-financed firm but find no significant relationship. 1 The authors would like to thank supervisor Einar Bakke for his input and support during the thesis process in addition to providing access to the Creandum data set and Serrano database. We would also like to give credit to Creandum for the compilation of the data set of VC-financed firms. |
| File Format | PDF HTM / HTML |
| Alternate Webpage(s) | https://gupea.ub.gu.se/bitstream/2077/33352/1/gupea_2077_33352_1.pdf |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
