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The effects of initial firm configuration and VC involvement on future firm growth: a case of picking or forming winners

Anders Isaksson (Institutionen för teknikens ekonomi och organisation, Operations Management) ; Erno T. Tornikoski
Babson College Entrepreneurship Research Conference (BCERC), June 10-13 (2015)
[Konferensbidrag, refereegranskat]

The main objective of our study is to explore to what extent the long-term performance of new firms is the result of initial firm configurations or VC’s involvement during the investment period. Our analysis among new VC-backed firms in Sweden over their full venture capital cycle gives strong support for the effect of initial funding conditions on the long-term growth of new firms. VC involvement, on the contrary, has much more marginal role in explaining long-term growth. In fact, VCs involvement seems to occur when firms are in trouble (i.e. “fire-fighter” role).

Nyckelord: venture capital, performance, growth



Denna post skapades 2015-08-18.
CPL Pubid: 220790

 

Institutioner (Chalmers)

Institutionen för teknikens ekonomi och organisation, Operations Management (2006-2016)

Ämnesområden

Innovation och entreprenörskap (nyttiggörande)
Företagsekonomi

Chalmers infrastruktur