Why do entrepreneurs switch lead venture capitalists?

Entrepreneurship: Theory and Practice

Volumn 37, Issue 5, 2013, Pages 999-1017

  Cumming, Douglas ^a   Dai, Na ^b  

^a YORK UNIVERSITY   (Canada)

^b STATE UNIVERSITY OF NEW YORK   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 84883758136     PISSN: 10422587     EISSN: 15406520     Source Type: Journal    
DOI: 10.1111/j.1540-6520.2012.00525.x     Document Type: Article

References (35)

1. Ahlstrom, D. & Bruton, G.D. (2006). Venture capital in emerging economies: Networks and institutional change. Entrepreneurship Theory and Practice, 30, 299-320.
2. Bengtsson, O. & Hsu, D. (2010). How do venture capital partners match with startup founders? Working paper, College of Business, University of Illinois at Urbana-Champaign and Wharton School, University of Pennsylvania.
3. Bruton, G.D., Fried, V.H., & Manigart, S. (2005). Institutional influences on the worldwide expansion of venture capital. Entrepreneurship Theory and Practice, 29, 737-760.
4. Carolis, D.M., Litzky, B.E., & Eddleston, K.A. (2009). Why networks enhance the progress of new venture creation: The influence of social capital and cognition. Entrepreneurship Theory and Practice, 33, 527-545.
5. Cestone, G., Lerner, J., & White, L. (2006). The design of syndicates in venture capital. Working Paper, Cass Business School and Harvard Business School.
6. Cumming, D.J. (2005). Agency costs, institutions, learning and taxation in venture capital contracting. Journal of Business Venturing, 20, 573-622.
7. Cumming, D.J. (2006). Adverse selection and capital structure: Evidence from venture capital. Entrepreneurship Theory and Practice, 30, 155-184.
8. Cumming, D.J. & Dai, N. (2010). Local bias in venture capital investments. Journal of Empirical Finance, 17, 362-380.
9. Cumming, D.J. & Johan, S.A. (2009). Venture capital and private equity contracting: An international perspective. San Diego, CA: Elsevier Science Academic Press.
10. Gompers, P.A. (1995). Optimal investment, monitoring, and the staging of venture capital. Journal of Finance, 50, 1461-1489.
11. Gompers, P.A. & Lerner, J. (2004). The venture capital cycle (2nd ed.). Cambridge, MA: MIT Press.
12. Gopalan, R., Udell, G.F., & Yerramilli, V. (2009). Why do firms switch banks? AFA 2008 New Orleans Meetings Paper. Available at SSRN: http://ssrn.com/abstract=972071 or http://dx.doi.org/10.2139/ssrn.972071
13. Guler, I. & Guillén, M. (2010). Institutions and the internationalization of US venture capital firms. Journal of International Business Studies, 41, 185-205.
14. Hochberg, Y., Ljungqvist, A., & Lu, Y. (2007). Venture capital networks and investment performance. Journal of Finance, 62, 251-301.
15. Hoffman, A. (2009, August 27). Lessons learned from entrepreneurs. Vator News. http://vator.tv/n/a3d
16. Hsu, D.H. (2004). What do entrepreneurs pay for venture capital affiliation? Journal of Finance, 59, 1805-1844.
17. Jääskeläinen, M., Maula, M.V.J., & Seppä, T. (2006). Allocation of attention to portfolio companies and the performance of venture capital firms. Entrepreneurship Theory and Practice, 30(2), 185-206.
18. Keil, T., Maula, M.V.J., & Wilson, C. (2010). Unique resources of corporate venture capitalists as a key to entry into rigid venture capital syndication networks. Entrepreneurship Theory and Practice, 34, 83-103.
19. Knill, A. (2009). Should venture capitalists put all their eggs in one basket? Diversification versus pure-play strategies in venture capital. Financial Management, 38, 441-486.
20. Krishnan, C.N.V., Masulis, R., Ivanov, V., & Singh, A.K. (2011). Venture capital reputation, post-IPO performance and corporate governance. Journal of Financial and Quantitative Analysis, 46, 1296-1333.
21. Kunze, R.J. (1990). Nothing ventured: The perils and payoffs of the great American venture capital game. New York: Harper Collins.
22. Lerner, J. (1994a). Venture capitalists and the decision to go public. Journal of Financial Economics, 35, 293-316.
23. Lerner, J. (1994b). The syndication of venture capital investments. Financial Management, 23, 16-27.
24. Mäkelä, M.M. & Maula, M.V.J. (2006). Interorganizational commitment in syndicated cross-border venture capital investments. Entrepreneurship Theory and Practice, 30, 273-298.
25. Manigart, S., Lockett, A., Meuleman, M., Desbrieres, P., Landstrom, H., & Wright, M. (2006). The syndication of venture capital investments. Entrepreneurship Theory and Practice, 30, 131-153.
26. Metrick, A. (2006). Venture capital and the finance of innovation. Hoboken, NJ: Wiley.
27. Meuleman, M. & Wright, M. (2011). Cross border private equity syndication: Cultural barriers, legal context and learning. Journal of Business Venturing, 26, 35-48.
28. Mosey, S. & Wright, M. (2007). From human capital to social capital: A longitudinal study of technology-based academic entrepreneurs. Entrepreneurship Theory and Practice, 31, 909-935.
29. Nahata, R. (2008). Venture capital reputation and investment performance. Journal of Financial Economics, 90, 127-151.
30. Sørensen, M. (2007). How smart is smart money? A two-sided matching model of venture capital. Journal of Finance, 62, 2725-2762.
31. Sorenson, O. & Stuart, T. (2000). Syndication networks and the spatial distribution of venture capital investments. American Journal of Sociology, 106, 1546-1588.
32. Sorenson, O. & Stuart, T. (2008). Bringing the context back in: Settings and the search for syndicate partners in venture capital investing. Administrative Science Quarterly, 53, 266-294.
33. Walske, J.M. & Zacharakis, A. (2009). Genetically engineered: Why some venture capital firms and more successful than others. Entrepreneurship Theory and Practice, 33, 297-318.
34. Wright, M. & Lockett, A. (2003). The structure and management of alliances: Syndication in the venture capital industry. Journal of Management Studies, 40, 2073-2104.
35. Yavuz, M.D., Marquez, R., & Nanda, V. (2010). Private equity fund returns: Do managers actually leave money on the Table? Working paper, Washington University.