Impact of funding and value added on Spanish venture capital-backed firms

被引：14
|
作者：
Balboa, Marina [1 ]
Marti, Jose [2 ]
Zieling, Nina [2 ]
机构：
[1] Univ Alicante, Alicante 03690, Spain
[2] Univ Complutense Madrid, Madrid 28223, Spain
来源：
INNOVATION-THE EUROPEAN JOURNAL OF SOCIAL SCIENCE RESEARCH | 2011年 / 24卷 / 04期
关键词：
economic impact; funding; growth; private equity; value added; venture capital; START-UP FIRMS; EMPIRICAL-EVIDENCE; PRIVATE FIRMS; PERFORMANCE; PORTFOLIO; INVESTMENTS; TECHNOLOGY; STRATEGY; FINANCE; ENTREPRENEURSHIP;
D O I：
10.1080/13511610.2011.628827
中图分类号：
C91 [社会学];
学科分类号：
030301 ; 1204 ;
摘要：
This paper contributes to the literature on the effect of venture capital (VC) on the economic development of areas in which those specialized investors are active. The work focuses on the separate consideration of two effects that are supposed to explain the superior performance of a large sample of Spanish VC-backed firms, namely funding and value-added services provided by VC managers to their investee firms. The results show that funding is significant regardless of the stage of development of the investee firm. The value added, however, is only significant for the subsample of firms at the expansion stage.
引用
收藏
页码：449 / 466
页数：18
相关论文
共 50 条
  • [1] Strategy and the board of directors in venture capital-backed firms
    Fried, VH
    Bruton, GD
    Hisrich, RD
    [J]. JOURNAL OF BUSINESS VENTURING, 1998, 13 (06) : 493 - 503
  • [2] Determinants of venture capital-backed firms performance: A conceptual framework
    Liu Erli
    Cui Yi
    Fan Ronghui
    [J]. APSCC: 2006 IEEE ASIA-PACIFIC CONFERENCE ON SERVICES COMPUTING, PROCEEDINGS, 2006, : 265 - +
  • [3] Preinvestment Negotiation Characteristics and Dismissal in Venture Capital-Backed Firms
    Erikson, Truls
    Berg-Utby, Terje
    [J]. NEGOTIATION JOURNAL, 2009, 25 (01) : 41 - 57
  • [4] Venture Capital-Backed Firms, Unavoidable Value-Destroying Trade Sales, and Fair Value Protections
    Nigro, Casimiro A.
    Stahl, Jorg R.
    [J]. EUROPEAN BUSINESS ORGANIZATION LAW REVIEW, 2021, 22 (01) : 39 - 86
  • [5] Venture Capital-Backed Firms, Unavoidable Value-Destroying Trade Sales, and Fair Value Protections
    Casimiro A. Nigro
    Jörg R. Stahl
    [J]. European Business Organization Law Review, 2021, 22 : 39 - 86
  • [6] Do venture capitalists add value to small manufacturing firms? An empirical analysis of venture and nonventure capital-backed
    Brau, JC
    Brown, RA
    Osteryoung, JS
    [J]. JOURNAL OF SMALL BUSINESS MANAGEMENT, 2004, 42 (01) : 78 - 92
  • [7] Network Resources Support of Venture Capitalists and Growth Performance of Venture Capital-backed Firms
    Liu Erli
    Chen Yongqing
    Fan Ronghui
    [J]. ADVANCES IN MANAGEMENT OF TECHNOLOGY, PT 1, 2009, : 31 - +
  • [8] Determinants of the exit value in European venture capital-backed technology startups
    Montanaro, Benedetta
    Cavallo, Angelo
    Giudici, Giancarlo
    Ghezzi, Antonio
    [J]. COMPETITIVENESS REVIEW, 2022, 32 (07) : 62 - 84
  • [9] The initial and long-run returns of Japanese venture capital-backed and non-venture capital-backed IPOs
    Kirkulak, Berna
    [J]. INTERNATIONAL JOURNAL OF MANAGERIAL FINANCE, 2008, 4 (02) : 112 - +
  • [10] Venture capitalists involvement and performance of venture capital-backed SMEs
    Liu Erli
    Fan Ronghui
    [J]. PROCEEDINGS OF THE EIGHTH WEST LAKE INTERNATIONAL CONFERENCE ON SMB, 2006, : 551 - 555
12345