Loading...
Please wait, while we are loading the content...
Similar Documents
Cross-border Venture Capital and the Development of Portfolio Companies
| Content Provider | Semantic Scholar |
|---|---|
| Author | Devigne, David Vanacker, Tom Manigart, Sophie Paeleman, Ine |
| Copyright Year | 2011 |
| Abstract | This paper studies how cross-border venture capital investors as opposed to domestic venture capital investors influence the development of their portfolio companies. For this purpose, we use a longitudinal research design and track sales from the year of initial venture capital investment up to seven years after this investment in 692 European technology-based companies. Findings demonstrate how companies backed by cross-border venture capital investors initially exhibit lower sales growth compared to companies backed by domestic investors. After a couple of years, however, companies backed by cross-border investors exhibit higher sales growth compared to companies backed by domestic investors. Finally, companies that raise finance from a syndicate comprising both domestic and cross-border investors develop into the biggest sales generators. Overall, this study provides a more textured understanding of the role played by venture capital investors as their portfolio companies develop and thereby require different resources or capabilities over time. |
| File Format | PDF HTM / HTML |
| Volume Number | 694 |
| Alternate Webpage(s) | https://public.vlerick.com/Publications/70990dd4-6aa9-e011-8a89-005056a635ed.pdf |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
