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| Tekijä: | Bottazzi, L. Rin, M. Da Hellman, T. |
| Otsikko: | Who are the active investors?: Evidence from venture capital |
| Lehti: | Journal of Financial Economics
2008 : SEP, VOL. 89:3, p. 488-512 |
| Asiasana: | financing financial intermediaries investors venture capital venture capital companies corporate governance human capital Europe |
| Kieli: | eng |
| Tiivistelmä: | In this study, the determinants and consequences of investor activism in venture capital (henceforth as: v-cap.) are explored. Based on a gathered sample of European v-cap. deals, the importance of human capital is shown. V-cap. firms with partners with prior business experience are more active recruiting managers and directors,..., and interacting more frequently with their portfolio (here as: p-f.) companies. Independent v-cap. firms are more active than 'captive' (that's bank-, corporate-, or government-owned) firms, as well. Investor activism is shown to be positively related to the success of p-f. firms. |
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