메뉴 건너뛰기




Volumn 40, Issue 3, 2013, Pages 527-552

Venture capital investor type and the growth mode of new technology-based firms

Author keywords

Corporate venture capital; Firm growth; Grandstanding; High tech start ups; Venture capital

Indexed keywords


EID: 84873748664     PISSN: 0921898X     EISSN: 15730913     Source Type: Journal    
DOI: 10.1007/s11187-011-9385-9     Document Type: Article
Times cited : (83)

References (85)
  • 2
    • 84881844837 scopus 로고
    • Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations
    • Arellano, M., & Bond, S. (1991). Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. Review of Economic Studies, 58, 277-297.
    • (1991) Review of Economic Studies , vol.58 , pp. 277-297
    • Arellano, M.1    Bond, S.2
  • 3
    • 58149364940 scopus 로고
    • Another look at the instrumental variable estimation of error-component models
    • Arellano, M., & Bover, O. (1995). Another look at the instrumental variable estimation of error-component models. Journal of Econometrics, 68, 29-51.
    • (1995) Journal of Econometrics , vol.68 , pp. 29-51
    • Arellano, M.1    Bover, O.2
  • 4
    • 33746809644 scopus 로고    scopus 로고
    • Financing high-tech growth: the role of banks and venture capitalists
    • Audretsch, D., & Lehmann, E. (2004). Financing high-tech growth: the role of banks and venture capitalists. Schmalenbach Business Review, 56, 340-357.
    • (2004) Schmalenbach Business Review , vol.56 , pp. 340-357
    • Audretsch, D.1    Lehmann, E.2
  • 6
    • 18144389466 scopus 로고    scopus 로고
    • A quantitative content analysis of the characteristics of rapid-growth firms and their founders
    • Barringer, B. R., Jones, F. F., & Neubaum, D. O. (2005). A quantitative content analysis of the characteristics of rapid-growth firms and their founders. Journal of Business Venturing, 20, 663-687.
    • (2005) Journal of Business Venturing , vol.20 , pp. 663-687
    • Barringer, B.R.1    Jones, F.F.2    Neubaum, D.O.3
  • 8
    • 1142278777 scopus 로고    scopus 로고
    • Picking winners or building them? Alliance, intellectual, and human capital as selection criteria in venture financing and performance of biotechnology startups
    • Baum, J., & Silverman, B. (2004). Picking winners or building them? Alliance, intellectual, and human capital as selection criteria in venture financing and performance of biotechnology startups. Journal of Business Venturing, 19, 411-436.
    • (2004) Journal of Business Venturing , vol.19 , pp. 411-436
    • Baum, J.1    Silverman, B.2
  • 10
    • 80955161940 scopus 로고    scopus 로고
    • IPOs versus acquisitions and the valuation premium puzzle: A theory of exit choice by entrepreneurs and venture capitalists
    • Bayar, O., & Chemmanur, T. (2011). IPOs versus acquisitions and the valuation premium puzzle: A theory of exit choice by entrepreneurs and venture capitalists. Journal of Financial and Quantitative Analysis (Forthcoming).
    • (2011) Journal of Financial and Quantitative Analysis (Forthcoming)
    • Bayar, O.1    Chemmanur, T.2
  • 12
    • 70350431289 scopus 로고    scopus 로고
    • Corporate venture capital as a window on new technologies: Implications for the performance of corporate investors when acquiring startups
    • Benson, D., & Ziedonis, R. H. (2009). Corporate venture capital as a window on new technologies: Implications for the performance of corporate investors when acquiring startups. Organization Science, 20(2), 329-351.
    • (2009) Organization Science , vol.20 , Issue.2 , pp. 329-351
    • Benson, D.1    Ziedonis, R.H.2
  • 13
    • 77955960675 scopus 로고    scopus 로고
    • The effect of venture capital financing on the sensitivity to cash flow of firm's investments
    • Bertoni, F., Colombo, M. G., & Croce, A. (2010). The effect of venture capital financing on the sensitivity to cash flow of firm's investments. European Financial Management, 16(4), 528-551.
    • (2010) European Financial Management , vol.16 , Issue.4 , pp. 528-551
    • Bertoni, F.1    Colombo, M.G.2    Croce, A.3
  • 14
    • 84860382102 scopus 로고    scopus 로고
    • A review of the venture capital industry in Italy
    • G. Gregoriou, M. Kooli, and R. Kraeussl (Eds.), Amsterdam: Elsevier
    • Bertoni, F., Colombo, M. G., Croce, A., & Piva, E. (2006). A review of the venture capital industry in Italy. In G. Gregoriou, M. Kooli, & R. Kraeussl (Eds.), Venture capital in Europe (pp. 129-141). Amsterdam: Elsevier.
    • (2006) Venture Capital in Europe , pp. 129-141
    • Bertoni, F.1    Colombo, M.G.2    Croce, A.3    Piva, E.4
  • 15
    • 79961026684 scopus 로고    scopus 로고
    • Venture capital financing and the growth of high-tech start-ups: Disentangling treatment from selection effects
    • Bertoni, F., Colombo, M. G., & Grilli, L. (2011a). Venture capital financing and the growth of high-tech start-ups: Disentangling treatment from selection effects. Research Policy, 40(7), 1028-1043.
    • (2011) Research Policy , vol.40 , Issue.7 , pp. 1028-1043
    • Bertoni, F.1    Colombo, M.G.2    Grilli, L.3
  • 17
    • 0001438979 scopus 로고    scopus 로고
    • Initial conditions and moment restrictions in dynamic panel data models
    • Blundell, R., & Bond, S. (1998). Initial conditions and moment restrictions in dynamic panel data models. Journal of Econometrics, 87, 115-143.
    • (1998) Journal of Econometrics , vol.87 , pp. 115-143
    • Blundell, R.1    Bond, S.2
  • 18
    • 13244255773 scopus 로고    scopus 로고
    • Dynamic panel data models: A guide to micro data methods and practice
    • Bond, S. (2002). Dynamic panel data models: A guide to micro data methods and practice. Portuguese Economic Journal, 1, 141-162.
    • (2002) Portuguese Economic Journal , vol.1 , pp. 141-162
    • Bond, S.1
  • 19
    • 52249110645 scopus 로고    scopus 로고
    • Who are the active investors? Evidence from venture capital
    • Bottazzi, L., Da Rin, M., & Hellmann, T. (2008). Who are the active investors? Evidence from venture capital. Journal of Financial Economics, 89, 488-512.
    • (2008) Journal of Financial Economics , vol.89 , pp. 488-512
    • Bottazzi, L.1    da Rin, M.2    Hellmann, T.3
  • 21
    • 0001611547 scopus 로고    scopus 로고
    • Industrial organization and new findings on the turn-over and mobility of firms
    • Caves, R. E. (1998). Industrial organization and new findings on the turn-over and mobility of firms. Journal of Economic Literature, 36, 1947-1982.
    • (1998) Journal of Economic Literature , vol.36 , pp. 1947-1982
    • Caves, R.E.1
  • 22
    • 67349117838 scopus 로고    scopus 로고
    • Assets specificity and behavioral uncertainty as moderators of the sales growth-employment growth relationship in emerging ventures
    • Chandler, G. N., McKelvie, A., & Davidsson, P. (2009). Assets specificity and behavioral uncertainty as moderators of the sales growth-employment growth relationship in emerging ventures. Journal of Business Venturing, 24(2), 373-387.
    • (2009) Journal of Business Venturing , vol.24 , Issue.2 , pp. 373-387
    • Chandler, G.N.1    McKelvie, A.2    Davidsson, P.3
  • 25
    • 77955242585 scopus 로고
    • Testing the law of proportionate effects
    • Chesher, A. (1979). Testing the law of proportionate effects. Journal of Industrial Economics, 27, 403-411.
    • (1979) Journal of Industrial Economics , vol.27 , pp. 403-411
    • Chesher, A.1
  • 26
    • 81855183988 scopus 로고    scopus 로고
    • Explaining growth paths of young technology based firms: Managing resource portfolios in different competitive environments
    • Clarysse, B., Bruneel, J., & Wright, M. (2011). Explaining growth paths of young technology based firms: Managing resource portfolios in different competitive environments. Strategic Entrepreneurship Journal, 5(2), 137-157.
    • (2011) Strategic Entrepreneurship Journal , vol.5 , Issue.2 , pp. 137-157
    • Clarysse, B.1    Bruneel, J.2    Wright, M.3
  • 28
    • 23044483355 scopus 로고    scopus 로고
    • Founders' human capital and the growth of new technology-based firms: A competence based view
    • Colombo, M. G., & Grilli, L. (2005). Founders' human capital and the growth of new technology-based firms: A competence based view. Research Policy, 34, 795-816.
    • (2005) Research Policy , vol.34 , pp. 795-816
    • Colombo, M.G.1    Grilli, L.2
  • 29
    • 77956931676 scopus 로고    scopus 로고
    • On growth drivers of high-tech start-ups: The role of founders' human capital and venture capital
    • Colombo, M. G., & Grilli, L. (2010). On growth drivers of high-tech start-ups: The role of founders' human capital and venture capital. Journal of Business Venturing, 25, 610-626.
    • (2010) Journal of Business Venturing , vol.25 , pp. 610-626
    • Colombo, M.G.1    Grilli, L.2
  • 30
    • 79955795277 scopus 로고    scopus 로고
    • R&D subsidies and the performance of high-tech start-ups
    • Colombo, M. G., Grilli, L., & Murtinu, S. (2011). R&D subsidies and the performance of high-tech start-ups. Economics Letters, 112, 97-99.
    • (2011) Economics Letters , vol.112 , pp. 97-99
    • Colombo, M.G.1    Grilli, L.2    Murtinu, S.3
  • 31
    • 79957822060 scopus 로고    scopus 로고
    • Effects of international R&D alliances on performance of high-tech start-ups: A longitudinal analysis
    • Colombo, M. G., Grilli, L., Murtinu, S., Piscitello, L., & Piva, E. (2009). Effects of international R&D alliances on performance of high-tech start-ups: A longitudinal analysis. Strategic Entrepreneurship Journal, 3, 348-370.
    • (2009) Strategic Entrepreneurship Journal , vol.3 , pp. 348-370
    • Colombo, M.G.1    Grilli, L.2    Murtinu, S.3    Piscitello, L.4    Piva, E.5
  • 33
    • 33646537321 scopus 로고    scopus 로고
    • The structure, governance and performance of UK venture capital trusts
    • Cumming, D. (2003). The structure, governance and performance of UK venture capital trusts. Journal of Corporate Law Studies, 3(2), 191-217.
    • (2003) Journal of Corporate Law Studies , vol.3 , Issue.2 , pp. 191-217
    • Cumming, D.1
  • 34
    • 33749612106 scopus 로고    scopus 로고
    • Government policy towards entrepreneurial finance: Innovation investment funds
    • Cumming, D. (2007). Government policy towards entrepreneurial finance: Innovation investment funds. Journal of Business Venturing, 22, 193-235.
    • (2007) Journal of Business Venturing , vol.22 , pp. 193-235
    • Cumming, D.1
  • 35
    • 67349212305 scopus 로고    scopus 로고
    • Growing profitable or growing from profits: Putting the horse in front of the char?
    • Davidsson, P., Steffens, P., & Fitzsimmons, J. (2009). Growing profitable or growing from profits: Putting the horse in front of the char? Journal of Business Venturing, 24(4), 388-406.
    • (2009) Journal of Business Venturing , vol.24 , Issue.4 , pp. 388-406
    • Davidsson, P.1    Steffens, P.2    Fitzsimmons, J.3
  • 36
    • 0036591213 scopus 로고    scopus 로고
    • The value relevance of revenue for Internet firms: Does reporting gross-up or barter revenue make a difference?
    • Davis, A. K. (2002). The value relevance of revenue for Internet firms: Does reporting gross-up or barter revenue make a difference? Journal of Accounting Research, 40(2), 445-477.
    • (2002) Journal of Accounting Research , vol.40 , Issue.2 , pp. 445-477
    • Davis, A.K.1
  • 39
    • 33744777897 scopus 로고    scopus 로고
    • When does corporate venture capital investment create firm value?
    • Dushnitsky, G., & Lenox, M. J. (2006). When does corporate venture capital investment create firm value? Journal of Business Venturing, 21, 753-772.
    • (2006) Journal of Business Venturing , vol.21 , pp. 753-772
    • Dushnitsky, G.1    Lenox, M.J.2
  • 40
    • 69549116908 scopus 로고    scopus 로고
    • Limitations to interorganizational knowledge acquisition: The paradox of corporate venture capital
    • Dushnitsky, G., & Shaver, J. M. (2009). Limitations to interorganizational knowledge acquisition: The paradox of corporate venture capital. Strategic Management Journal, 30, 1045-1064.
    • (2009) Strategic Management Journal , vol.30 , pp. 1045-1064
    • Dushnitsky, G.1    Shaver, J.M.2
  • 41
    • 33644663804 scopus 로고    scopus 로고
    • Multistage selection and the financing of new ventures
    • Eckhardt, J. T., Shane, S., & Delmar, F. (2006). Multistage selection and the financing of new ventures. Management Science, 52, 220-232.
    • (2006) Management Science , vol.52 , pp. 220-232
    • Eckhardt, J.T.1    Shane, S.2    Delmar, F.3
  • 43
    • 33847265440 scopus 로고    scopus 로고
    • Firm level implication of early stage venture capital investment: An empirical investigation
    • Engel, D., & Keilbach, M. (2007). Firm level implication of early stage venture capital investment: An empirical investigation. Journal of Empirical Finance, 14, 150-167.
    • (2007) Journal of Empirical Finance , vol.14 , pp. 150-167
    • Engel, D.1    Keilbach, M.2
  • 44
    • 21944435461 scopus 로고    scopus 로고
    • Corporate venture capital as a strategy for external innovation: An exploratory empirical study
    • Ernst, H., Witt, P., & Brachtendorf, G. (2005). Corporate venture capital as a strategy for external innovation: An exploratory empirical study. R&D Management, 35, 233-242.
    • (2005) R&D Management , vol.35 , pp. 233-242
    • Ernst, H.1    Witt, P.2    Brachtendorf, G.3
  • 45
    • 0030240848 scopus 로고    scopus 로고
    • Grandstanding in the venture capital industry
    • Gompers, P. A. (1996). Grandstanding in the venture capital industry. Journal of Financial Economics, 42, 133-156.
    • (1996) Journal of Financial Economics , vol.42 , pp. 133-156
    • Gompers, P.A.1
  • 47
    • 0030525137 scopus 로고    scopus 로고
    • The use of covenants: An empirical analysis of venture capital partnership agreements
    • Gompers, P. A., & Lerner, J. (1996). The use of covenants: An empirical analysis of venture capital partnership agreements. Journal of Law and Economics, 39, 463-498.
    • (1996) Journal of Law and Economics , vol.39 , pp. 463-498
    • Gompers, P.A.1    Lerner, J.2
  • 48
    • 0006134202 scopus 로고    scopus 로고
    • The determinants of corporate venture capital success
    • R. Morck (Ed.), Chicago and London: University of Chicago Press
    • Gompers, P. A., & Lerner, J. (2000). The determinants of corporate venture capital success. In R. Morck (Ed.), Concentrated corporate ownership. Chicago and London: University of Chicago Press.
    • (2000) Concentrated Corporate Ownership
    • Gompers, P.A.1    Lerner, J.2
  • 51
    • 0000414660 scopus 로고
    • Large sample properties of generalized method of moments estimators
    • Hansen, L. P. (1982). Large sample properties of generalized method of moments estimators. Econometrica, 50, 1029-1054.
    • (1982) Econometrica , vol.50 , pp. 1029-1054
    • Hansen, L.P.1
  • 52
    • 0000011585 scopus 로고
    • Dummy endogeneous variables in a simultaneous equations system
    • Heckman, J. (1978). Dummy endogeneous variables in a simultaneous equations system. Econometrica, 46, 931-960.
    • (1978) Econometrica , vol.46 , pp. 931-960
    • Heckman, J.1
  • 53
    • 0000125534 scopus 로고
    • Sample selection bias as a specification error
    • Heckman, J. (1979). Sample selection bias as a specification error. Econometrica, 47, 153-161.
    • (1979) Econometrica , vol.47 , pp. 153-161
    • Heckman, J.1
  • 55
    • 77953607313 scopus 로고    scopus 로고
    • Do corporate venture capitalists add value to start-up firms? Evidence from IPOs and acquisitions of VC-backed companies
    • Ivanov, W., & Xie, F. (2010). Do corporate venture capitalists add value to start-up firms? Evidence from IPOs and acquisitions of VC-backed companies. Financial Management, 39(1), 129-152.
    • (2010) Financial Management , vol.39 , Issue.1 , pp. 129-152
    • Ivanov, W.1    Xie, F.2
  • 56
    • 33644789788 scopus 로고    scopus 로고
    • Allocation of attention to portfolio companies and the performance of venture capital firms
    • Jääskeläinen, M., Maula, M., & Seppä, T. (2006). Allocation of attention to portfolio companies and the performance of venture capital firms. Entrepreneurship Theory and Practice, 30, 185-206.
    • (2006) Entrepreneurship Theory and Practice , vol.30 , pp. 185-206
    • Jääskeläinen, M.1    Maula, M.2    Seppä, T.3
  • 57
    • 84986841559 scopus 로고
    • Venture capitalist participation and the post-issue operating performance of IPO firms
    • Jain, B. A., & Kini, O. (1995). Venture capitalist participation and the post-issue operating performance of IPO firms. Managerial and Decision Economics, 6, 593-606.
    • (1995) Managerial and Decision Economics , vol.6 , pp. 593-606
    • Jain, B.A.1    Kini, O.2
  • 58
    • 51549103938 scopus 로고    scopus 로고
    • Swimming with sharks: Technology ventures, defense mechanisms, and corporate relationships
    • Katila, R., Rosenberger, J. D., & Eisenhardt, K. M. (2008). Swimming with sharks: Technology ventures, defense mechanisms, and corporate relationships. Administrative Science Quarterly, 53, 295-332.
    • (2008) Administrative Science Quarterly , vol.53 , pp. 295-332
    • Katila, R.1    Rosenberger, J.D.2    Eisenhardt, K.M.3
  • 59
    • 0000756502 scopus 로고
    • Generalized econometric models with selectivity
    • Lee, L. (1983). Generalized econometric models with selectivity. Econometrica, 51, 507-512.
    • (1983) Econometrica , vol.51 , pp. 507-512
    • Lee, L.1
  • 60
    • 3242758176 scopus 로고    scopus 로고
    • Grandstanding, certification and the underpricing of venture capital backed IPOs
    • Lee, P. M., & Wahal, S. (2004). Grandstanding, certification and the underpricing of venture capital backed IPOs. Journal of Financial Economics, 73, 375-407.
    • (2004) Journal of Financial Economics , vol.73 , pp. 375-407
    • Lee, P.M.1    Wahal, S.2
  • 61
    • 17344368856 scopus 로고    scopus 로고
    • R&D, international trade and creative destruction: Empirical findings from Finnish manufacturing industries
    • Maliranta, M. (2005). R&D, international trade and creative destruction: Empirical findings from Finnish manufacturing industries. Journal of Industry, Competition and Trade, 5, 27-58.
    • (2005) Journal of Industry, Competition and Trade , vol.5 , pp. 27-58
    • Maliranta, M.1
  • 62
    • 76049130507 scopus 로고    scopus 로고
    • Post-investment evolution of venture backed companies
    • P. Reynolds, W. Bygrave, S. Manigart, C. Mason, G. Meyer, H. J. Sapienza, and K. Shaver (Eds.), Wellesley: Babson College
    • Manigart, S., & van Hyfte, M. (1999). Post-investment evolution of venture backed companies. In P. Reynolds, W. Bygrave, S. Manigart, C. Mason, G. Meyer, H. J. Sapienza, & K. Shaver (Eds.), Frontiers of entrepreneurship research. Wellesley: Babson College.
    • (1999) Frontiers of Entrepreneurship Research
    • Manigart, S.1    van Hyfte, M.2
  • 63
    • 14544298300 scopus 로고    scopus 로고
    • Corporate venture capitalists and independent venture capitalists: What do they know, who do they know and should entrepreneurs care?
    • Maula, M. G., Autio, E., & Murray, G. (2005). Corporate venture capitalists and independent venture capitalists: What do they know, who do they know and should entrepreneurs care? Venture capital, 7(1), 3-21.
    • (2005) Venture Capital , vol.7 , Issue.1 , pp. 3-21
    • Maula, M.G.1    Autio, E.2    Murray, G.3
  • 64
    • 84859922312 scopus 로고    scopus 로고
    • Corporate venture capital and the creation of US public companies: The impact of sources of venture capital on the performance of portfolio companies
    • M. A. Hitt, R. Amit, C. Lucier, and B. Shelton (Eds.), New York: Wiley
    • Maula, M. G., & Murray, G. (2001). Corporate venture capital and the creation of US public companies: The impact of sources of venture capital on the performance of portfolio companies. In M. A. Hitt, R. Amit, C. Lucier, & B. Shelton (Eds.), Strategy in the entrepreneurial millennium. New York: Wiley.
    • (2001) Strategy in the Entrepreneurial Millennium
    • Maula, M.G.1    Murray, G.2
  • 65
    • 77952580092 scopus 로고    scopus 로고
    • Advancing from growth research: A focus on growth mode instead of growth rate
    • McKelvie, A., & Wiklund, J. (2010). Advancing from growth research: A focus on growth mode instead of growth rate. Entrepreneurship Theory & Practice, 34(2), 261-288.
    • (2010) Entrepreneurship Theory & Practice , vol.34 , Issue.2 , pp. 261-288
    • McKelvie, A.1    Wiklund, J.2
  • 66
    • 0000888844 scopus 로고
    • Irreversible investment, capacity choice, and the value of the firm
    • Pindyck, R. S. (1988). Irreversible investment, capacity choice, and the value of the firm. American Economic Review, 78, 969-985.
    • (1988) American Economic Review , vol.78 , pp. 969-985
    • Pindyck, R.S.1
  • 67
    • 0000880893 scopus 로고
    • A note on competitive investment under uncertainty
    • Pindyck, R. S. (1993). A note on competitive investment under uncertainty. American Economic Review, 83, 273-277.
    • (1993) American Economic Review , vol.83 , pp. 273-277
    • Pindyck, R.S.1
  • 68
    • 84859615661 scopus 로고    scopus 로고
    • On the lifecycle dynamics of venture-capital- and non-venture-capital-financed firms
    • (in press)
    • Puri, M., & Zarutskie, R. (2011). On the lifecycle dynamics of venture-capital- and non-venture-capital-financed firms. Journal of Finance (in press).
    • (2011) Journal of Finance
    • Puri, M.1    Zarutskie, R.2
  • 69
    • 0000887602 scopus 로고
    • The structure and governance of Venture-Capital Organizations
    • Sahlman, W. A. (1990). The structure and governance of Venture-Capital Organizations. Journal of Financial Economics, 27(2), 473-521.
    • (1990) Journal of Financial Economics , vol.27 , Issue.2 , pp. 473-521
    • Sahlman, W.A.1
  • 70
    • 77956888457 scopus 로고
    • Residuals for the proportional hazards regression model
    • Schoenfeld, D. (1982). Residuals for the proportional hazards regression model. Biometrika, 69, 239-241.
    • (1982) Biometrika , vol.69 , pp. 239-241
    • Schoenfeld, D.1
  • 71
    • 77953723507 scopus 로고    scopus 로고
    • Estimating panel data models in the presence of endogeneity and selection
    • Semykina, A., & Wooldridge, J. M. (2010). Estimating panel data models in the presence of endogeneity and selection. Journal of Econometrics, 157, 375-380.
    • (2010) Journal of Econometrics , vol.157 , pp. 375-380
    • Semykina, A.1    Wooldridge, J.M.2
  • 72
    • 58149299494 scopus 로고    scopus 로고
    • Are we comparing apples with apples or apples with oranges? Appropriateness of knowledge accumulation across growth studies
    • Shepherd, D., & Wiklund, J. (2009). Are we comparing apples with apples or apples with oranges? Appropriateness of knowledge accumulation across growth studies. Entrepreneurship Theory & Practice, 33(1), 105-123.
    • (2009) Entrepreneurship Theory & Practice , vol.33 , Issue.1 , pp. 105-123
    • Shepherd, D.1    Wiklund, J.2
  • 73
    • 0000864461 scopus 로고
    • Corporate venture capitalists: autonomy, obstacles, and performance
    • Siegel, R., Siegel, E., & MacMillan, I. (1988). Corporate venture capitalists: autonomy, obstacles, and performance. Journal of Business Venturing, 1, 275-293.
    • (1988) Journal of Business Venturing , vol.1 , pp. 275-293
    • Siegel, R.1    Siegel, E.2    Macmillan, I.3
  • 74
    • 36649032314 scopus 로고    scopus 로고
    • How smart is smart money? A two-sided matching model of venture capital
    • Sørensen, M. (2007). How smart is smart money? A two-sided matching model of venture capital. Journal of Finance, 62, 2725-2762.
    • (2007) Journal of Finance , vol.62 , pp. 2725-2762
    • Sørensen, M.1
  • 77
    • 0032344715 scopus 로고    scopus 로고
    • Measuring organizational growth: Issues, consequences and guidelines
    • Weinzimmer, L. G., Nystrom, P. C., & Freeman, S. J. (1998). Measuring organizational growth: Issues, consequences and guidelines. Journal of Management, 24(2), 235-262.
    • (1998) Journal of Management , vol.24 , Issue.2 , pp. 235-262
    • Weinzimmer, L.G.1    Nystrom, P.C.2    Freeman, S.J.3
  • 78
    • 0000095552 scopus 로고
    • A heteroskedasticity-consistent covariance matrix estimator and a direct test for heteroskedasticity
    • White, H. (1980). A heteroskedasticity-consistent covariance matrix estimator and a direct test for heteroskedasticity. Econometrica, 48, 817-830.
    • (1980) Econometrica , vol.48 , pp. 817-830
    • White, H.1
  • 79
    • 0000453367 scopus 로고
    • The vertical integration of production: Market failure considerations
    • Williamson, O. (1971). The vertical integration of production: Market failure considerations. American Economic Review, 61L, 112-123.
    • (1971) American Economic Review , vol.61 L , pp. 112-123
    • Williamson, O.1
  • 82
    • 10444289824 scopus 로고    scopus 로고
    • A finite sample correction for the variance of linear efficient two-step GMM estimators
    • Windmeijer, F. (2005). A finite sample correction for the variance of linear efficient two-step GMM estimators. Journal of Econometrics, 126, 25-51.
    • (2005) Journal of Econometrics , vol.126 , pp. 25-51
    • Windmeijer, F.1
  • 83
    • 0000911133 scopus 로고
    • Selection corrections for panel data models under conditional mean independence assumptions
    • Wooldridge, J. M. (1995). Selection corrections for panel data models under conditional mean independence assumptions. Journal of Econometrics, 68, 115-132.
    • (1995) Journal of Econometrics , vol.68 , pp. 115-132
    • Wooldridge, J.M.1
  • 85
    • 33751538712 scopus 로고    scopus 로고
    • Venture capital and private equity: A review and synthesis
    • Wright, M., & Robbie, K. (1998). Venture capital and private equity: A review and synthesis. Journal of Business Finance & Accounting, 25(5-6), 521-570.
    • (1998) Journal of Business Finance & Accounting , vol.25 , Issue.5-6 , pp. 521-570
    • Wright, M.1    Robbie, K.2


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.