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Tekijä: | Verwaal, E. (et al.) |
Otsikko: | Resources access needs and capabilities as mediators of the relationship between VC firm size and syndication |
Lehti: | Small business economics
2010 : APR, VOL. 34:3, p. 277-291 |
Asiasana: | companies by size venture capital investments resources transaction costs companies Europe |
Vapaa asiasana: | investment syndication hybrid governance |
Kieli: | eng |
Tiivistelmä: | A theoretical framework is developed to explain why small and large firms face different levels of resource access (herein as: r-a.) needs and r-a. capabilities, which mediate the relationship btw. firm size and hybrid governance. Using a sample of 317 venture capital (VC) firms from across six European countries, this study's framework is empirically assessed in the context of VC syndication. A path model is estimated using structural equation modeling. There are found mediating effects of different types of r-a. needs and r-a. capabilities btw. VC firm size and syndication frequency. |
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