The export intensity of venture capital backed companies
Lockett, Andy, Wright, M., Burrows, A., Scholes, L. and Paton, D.. (2008) The export intensity of venture capital backed companies. Small Business Economics, Vol.31 (No.1). pp. 39-58. ISSN 0921-898XFull text not available from this repository.
Official URL: http://rd.springer.com/article/10.1007/s11187-008-...
In this study we examine how venture capital (VC) firms influence the export behavior of their investee companies. VC firms perform an important governance function for investee companies by providing monitoring and value-added activities. Drawing on agency theory, the resource-based view of the firm and governance life-cycle theory we hypothesize that the relationship between VC governance resources and investee exporting behavior is moderated by investment stage. Employing a sample of 340 VC-backed firms, our results confirm this hypothesis. Monitoring resources are most effective in promoting export behavior for late-stage ventures and value-added resources in promoting export behavior in early-stage ventures.
|Item Type:||Journal Article|
|Subjects:||H Social Sciences > HF Commerce|
|Divisions:||Faculty of Social Sciences > Warwick Business School > Centre for Small & Medium-Sized Enterprises
Faculty of Social Sciences > Warwick Business School > Entrepreneurship, Innovation & Management
Faculty of Social Sciences > Warwick Business School
|Journal or Publication Title:||Small Business Economics|
|Publisher:||Springer New York LLC|
|Number of Pages:||20|
|Page Range:||pp. 39-58|
|Access rights to Published version:||Restricted or Subscription Access|
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