Do foreign and domestic venture capital firms differ in their monitoring of investees?

Asia Pacific Journal of Management

Volumn 20, Issue 2, 2003, Pages 175-204

  Pruthi, Sarika ^a   Wright, Mike ^a   Lockett, Andy ^a  

^a UNIVERSITY OF NOTTINGHAM   (United Kingdom)

Author keywords

Emerging markets; India; Internationalization; Venture capital

Indexed keywords

EID: 13444289767     PISSN: 02174561     EISSN: 15729958     Source Type: Journal    
DOI: 10.1023/A:1023840432241     Document Type: Article

References (71)

1. Amba-Rao, S. (1994). "US HRM Principles Cross-Country Comparisons and Two Case Applications in India." Int. Jnl. of Human Resource Management 5(3), 755-778.
2. Amba-Rao, S., J. Petrick, J. Gupta, and T. Von der Embse. (2000). "Comparative Performance Appraisal Practices and Management Values Among Foreign and Domestic Firms in India." Int. Jnl. of Human Resource Management 11(1), 60-89.
3. Arora, Ashish, V.S. Arunachalam, Jai Asundi, and Ronald Fernandes. (1999). "The Indian Software Industry." H. John Heinz III School of Public Policy and Management, WP 1999-19.
4. Asian Venture Capital Journal. (1999). Guide to Venture Capital in Asia, 11th ed.
5. Aylward, A. (1998). "Trends in Venture Capital Financing in Developing Countries." IFC Discussion Paper No. 36. Washington, DC: World Bank.
6. Barney, Jay, Lowell Busenitz, James Fiet, and Douglas Moesel. (1994). 'The Relationship Between Venture Capitalists and Managers in New Firms: Determinants of Contractual Covenants." Managerial Finance 20(1), 19-30.
7. Boisot, Max and John Child. (1996). "From Fiefs to Clans and Network Capitalism: Explaining China's Emerging Economic Order." Administrative Science Quarterly 41, 600-628.
8. Boocock, Graham and John Presley. (1993). "Equity capital for Small and Medium Sized Enterprises in Malaysia: Venture Capital or Islamic Finance?" Managerial Finance 19, 82-95.
9. Bruton, Garry, Vance Fried, and Robert Hisrich. (1998). "Venture Capitalists and CEO Dismissal." Entrepreneurship Theory and Practice 21, 41-54.
10. Bruton, Garry, M. Dattani, M. Fung, C. Chow, and David Ahlstrom. (1999). "Private Equity in China: Differences and Similarities with the Western Model." Journal of Private Equity 2, 7-13.
11. Bruton, Garry, Vance Fried, and Sophie Manigart. (2000). "An Institutional View of the Development of Venture Capital in the US, Europe and Asia." Texas Christian University: Working Paper.
12. Bygrave, William and Jeffrey Timmons. (1999). "Venture Capital: Predictions and Outcomes. Venture Capital at the Crossroads and Realizing Investment Value Revisited." In M. Wright and K. Robbie (eds.), Management Buy-outs and Venture Capital: Into the Next Millennium. Cheltenham: Edward Elgar, Chapt. 2, pp. 38-56.
13. Chandrasekhar, K.B. (2000). "Report of K.B. Chandrasekhar Committee on Venture Capital." Delhi: Securities and Investment Board of India.
14. Chitale, R. (1989). "Risk Capital for Medium and Small Industries: Weaknesses in Fiscal and Monetary Policies." Economic and Political Weekly Nov. 25, M150-6.
15. De Vaus D A. (1991). Surveys in Social Research, 3rd ed. London: Allen & Unwin.
16. Elango, B., Vance Fried, Robert Hisrich, and A. Polonchek. (1995). "How Venture Capital Firms Differ." Journal of Business Venturing 10, 157-179.
17. Erramilli, M.K. and C.P. Rao. (1993). '"Service Firms' International Entry Mode Choice: A Modified Transaction-Cost Analysis Approach." Journal of Marketing 57, 19-38.
18. EVCA (2000). EVCA 2000 Yearbook. EVCA: Zaventem.
19. Fama, E. and M. Jensen. (1983). "Separation of Ownership and Control." Journal of Law and Economics XXVI, 301-326.
20. Fiet, James. (1995). "Risk Avoidance Strategies in Venture Capital Markets." Journal of Management Studies 32, 51-74.
21. Gorman, M. and William Sahlman. (1989). "What Do Venture Capitalists Do?" Journal of Business Venturing 4, 231-248.
22. Grant, Robert. (1998). Contemporary Strategy Analysis. 3rd ed. Oxford: Blackwell.
23. Hart, Oliver (1995). Firms, Contracts and Financial Structure. Oxford: Clarendon Press.
24. Harvey, Michael, C. Speier, and Novicevic, Milorad. (1999). 'The Role of Inpatriation in Global Staffing." Int. Jnl. of Human Resource Management 10(3), 459-476.
25. Hellmann, Thomas. (1998). "The Allocation of Control Rights in Venture Capital Contracts." Rand Journal of Economics 29(1), 57-76.
26. Hellmann, Thomas and M. Puri. (2000). "The Interaction Between Product Market and Financing Strategy." Review of Financial Studies 13(4), 959-984.
27. Hofstede, Geert. (1984). Culture's Consequences: International Differences in Work-related Values. Beverly Hills, CA: Sage.
28. Hofstede, Geert and M. Bond. (1988). "Confucius and Economic Growth: New Trends in Cultural Consequences." Organizational Dynamics 16(4), 4-21.
29. Hoskisson, Robert, Lorraine Eden, Chung-Ming Lau, and Mike Wright. (2000). "Strategy in Emerging Economies." Academy of Management Journal 43(3), 249-267.
30. Indian Venture Capital Association (IVCA). (1999). Venture Activity, 1998. Delhi: IVCA.
31. Kaplan, Steven and Per Strömberg. (2001). "Venture Capitalists as Principals: Contracting, Screening and Monitoring." American Econ. Review 91 (2), 426-430.
32. Knight, R. (1994). "Criteria Used By Venture Capitalists: A Cross-Cultural Study." International Small Business Journal 13(1), 26-37.
33. La Porta, R., Florencio Lopez-De-Silanes, Andrei Shleifer, and Robert Vishny. (1997). "Legal Determinants of External Finance." Journal of Finance 52(3), 1131-1150.
34. La Porta, R., Florencio Lopez-De-Silanes, Andrei Shleifer, and Robert Vishny. (1998). "Law and Finance." Journal of Political Economy 106, 1113-1155.
35. La Porta, R., Florencio Lopez-De-Silanes, Andrei Shleifer, and Robert Vishny. (1999). "Corporate Ownership Around the World." Journal of Finance 54, 471-517.
36. Leonidou, Leonidas C., and Constantine S. Katsikeas. (1996). "The Export Development Process: An Integrative Review of Empirical Models." Journal of International Business Studies 27(3), 517-552.
37. Lerner, Josh. (1995). "Venture Capitalists and the Oversight of Private Firms." Journal of Finance 50(1), 301-318.
38. Leung, J. (1996). "Indian Success Story." Asian Business June, 28-34.
39. MacMillan, Ian, David Kulow, and Roubina Khoylian. (1989). "Venture Capitalists Involvement in Their Investments: Extent and Performance." Journal of Business Venturing 4(1), 27-47.
40. Manigart, Sophie. (1994). "The Founding Rates of Venture Capital Firms in Three European Countries (1970-1990)." Journal of Business Venturing 9(6), 525-541.
41. Manigart, Sophie, Koen De Waele, Mike Wright, Ken Robbie, Philippe Desbrieres, Harry Sapienza, and Amy Beekman. (2000). "Venture Capitalists, Investment Appraisal and Accounting Information: A Comparative Study of the USA, UK, France, Belgium and Holland." European Financial Management 6(3), 389-404.
42. Mitchell, Falconer, Gavin Reid, and Nick Terry. (1995). "Post Investment Demand for Accounting Information by Venture Capitalists." Accounting and Business Research 25(99), 186-196.
43. Mitchell, Falconer, Gavin Reid, and Nick Terry. (1997). "Venture Capital Supply and Accounting Information System Development." Entrepreneurship Theory and Practice 21(4), 45-62.
44. Murray, Gordon. (1995). "The UK Venture Capital Industry." Journal of Business Finance and Accounting 22(8), 1077-1106.
45. National Association of Software and Service Companies (Nasscom). (2001). The Indian Software Industry.
46. Peng, Mike and Luo, Yadong. (2000). "Managerial Ties and Firm Performance in a Transition Economy: The Nature of the Micro-Macro Link." Academy of Management Journal 43(3), 486-501.
47. Rah, I., K. Jung, and I. Lee. (1994). "Validation of the Venture Evaluation Model in Korea." Journal of Business Venturing 9, 509-524.
48. Ramachandran, K. and S. Ramnarayan. (1993). "Entrepreneurial Orientation and Networking: Some Indian Evidence." Journal of Business Venturing 8, 513-524.
49. Ray, D. (1991). "Venture Capital and Entrepreneurial Developments in Singapore." International Small Business Journal 10(1), 11-26.
50. Ray, D. and D. Turpin. (1993). "Venture Capital in Japan." International Small Business Journal 11(4), 39-56.
51. Robbie, Ken and Mike Wright. (1990). "The Case of Maccess." In Stuart Taylor and Stuart Turley (eds.), Cases in Financial Reporting. Deddington: Philip Allan.
52. Rosenstein, J., A. Bruno, William Bygrave, and N. Taylor. (1993). "The CEO, Venture Capitalists and the Board." Journal of Business Venturing 8, 99-113.
53. Rosenzweig, P. and J. Singh. (1991). "Organizational Environments and the Multinational Enterprise." Academy of Management Review 16(2), 340-361.
54. Sahlman, William. (1990). "The Structure and Governance of Venture-Capital Organizations." Journal of Financial Economics 27, 473-521.
55. Sapienza, Harry and Anil Gupta. (1994). "Impact of Agency Risks and Task Uncertainty on Venture Capitalist-CEO Interaction." Academy of Management Journal 37(6), 1618-1632.
56. Sapienza, Harry, Alan Amason, and Sophie Manigart. (1994). "The Level and Nature of Venture Capitalist Involvement in Their Portfolio Companies: A Study of Three European Countries." Managerial Finance 20(1), 3-17.
57. Sapienza, Harry, Sophie Manigart, and Wim Vermeir. (1996). "Venture Capitalist Governance and Value Added in Four Countries." Journal of Business Venturing 11(6), 439-469.
58. Scott, W.R. (1995). Institutions and Organizations. Thousand Oaks, CA: Sage.
59. Securities and Exchange Board of India (SEBI). (2000). "SEBI Annual Report." Delhi: SEBI.
60. Securities and Exchange Board of India (SEBI). (2000). "Foreign Venture Capital Investor Regulations." Delhi: SEBI.
61. Short, Helen, Kevin Keasey, Mike Wright, and Alison Hull. (1999). "Corporate Governance: From Accountability to Enterprise." Accounting and Business Research 29(4), 337-352.
62. Sweeting, Robert. (1991). "UK Venture Capital Funds and the Funding of New Technology Based Businesses: Process and Relationships." Journal of Management Studies 28, 601-622.
63. Sweeting, Robert, and C. Wong. (1997). "A UK 'Hands-off Venture Capital Firm and the Handling of Post-Investment Investor-Investee Relationships." Journal of Management Studies 34(1), 125-152.
64. Tan, W. (1998). "Venture Capital in Asia Pacific: An Overview." Asia Business Law Review 20, 40-47.
65. Venkata Ratnam, C. (1998). "Multinational Companies in India." Int. Jnl. of Human Resource Management 9(4), 567-589.
66. Verma, J.C. (1997). Venture Capital Financing in India. London: Sage.
67. Virmani, B. and S. Guptan. (1991). Indian Management. New Delhi: Vision Books.
68. Wright, Mike and Ken Robbie. (1998). "Venture Capital and Private Equity: A Review and Synthesis." Journal of Business Finance and Accounting 25(5/6), 521-570.
69. Wright, Mike, Steve Thompson, and Ken Robbie. (1992). "Venture Capital and Management-led Leveraged Buyouts: A European Perspective." Journal of Business Venturing 7(1), 45-71.
70. Wright, Mike, Judit Karsai, Z. Dudzinski, and Jan Morovic. (1999). "Transition and Active Investors: Venture Capital in Hungary, Poland and Slovakia." Post-Communist Economies 11(1), 27-46.
71. Zutshi, R., W. Tan, D. Allampalli, and P. Gibbons. (1999). "Singapore Venture Capitalists Investment Evaluation Criteria: A Re-examination." Small Business Economics 13, 9-26.