Normative rationality in venture capital financing

被引：8

作者：

Terjesen, Siri ^{[1
]}

Patel, Pankaj C. ^{[2
]}

Fiet, James O. ^{[3
]}

D'Souza, Rodney ^{[4
]}

机构：

[1] Indiana Univ, Kelley Sch Business, Dept Management & Entrepreneurship, Bloomington, IN 47405 USA

[2] Ball State Univ, Miller Coll Business, Dept Mkt & Management, Muncie, IN 47306 USA

[3] Univ Louisville, Coll Business, Louisville, KY 40292 USA

[4] No Kentucky Univ, Haile US Bank Coll Business, Highland Hts, KY 41099 USA

来源：

TECHNOVATION | 2013年 / 33卷 / 8-9期

关键词：

Finite mixture regressions; Macroculture; Normative rationality; Venture capital firms; Venture capitalists; SYNDICATION; PERFORMANCE; FIRMS; TECHNOLOGY; MANAGEMENT; NETWORKS; DECISION; CREATION; GROWTH;

D O I：

10.1016/j.technovation.2012.10.004

中图分类号：

T [工业技术];

学科分类号：

08 ;

摘要：

We examine whether venture capitalists (VCs) make investments based on normative rationality, which is derived from habitual and embedded norms and traditions indicative of a macroculture. Syndication and social and professional relations facilitate the development of shared decision-making frameworks. Using a four step methodology and a unique dataset of 139VC decisions and 82 independent VC assessments of those decisions, we find that the VC industry exhibits collective investment decision-making preferences, reflecting normative rationality. We offer implications for theory, practice, and future research. (C) 2012 Elsevier Ltd. All rights reserved.

引用

页码：255 / 264

页数：10

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