کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
961057 | 929775 | 2011 | 32 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Polishing diamonds in the rough: The sources of syndicated venture performance
دانلود مقاله + سفارش ترجمه
دانلود مقاله ISI انگلیسی
رایگان برای ایرانیان
موضوعات مرتبط
علوم انسانی و اجتماعی
مدیریت، کسب و کار و حسابداری
استراتژی و مدیریت استراتژیک
پیش نمایش صفحه اول مقاله
![عکس صفحه اول مقاله: Polishing diamonds in the rough: The sources of syndicated venture performance Polishing diamonds in the rough: The sources of syndicated venture performance](/preview/png/961057.png)
چکیده انگلیسی
Using an effort-sharing framework for VC syndicates, we assess how syndication impacts investment returns, chances of successful exit, and the time taken to exit. With data from 1980 to 2003, and applying apposite econometrics for endogeneity to these different performance measures, we are able to ascribe much of the better return to selection, with the value-addition by monitoring role significantly impacting the likelihood and time of exit. While the extant literature on Venture Capital (VC) syndication is divided about the relative importance of the “selection” and “value-add” hypotheses, we find that their roles are complementary.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Financial Intermediation - Volume 20, Issue 2, April 2011, Pages 199-230
Journal: Journal of Financial Intermediation - Volume 20, Issue 2, April 2011, Pages 199-230
نویسندگان
Sanjiv R. Das, Hoje Jo, Yongtae Kim,