Venture Capital Syndicate Diversity: Three Types their Effects on Performance
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Venture Capital Syndicate Diversity: Three Types their Effects on Performance

Venture Capital Syndicate Diversity: Three Types their Effects on Performance

Sang Yoon Shin

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This study investigates the relationship between venture capital (hereafter, VC) syndicate diversity the IPO performance of an entrepreneurial company backed by the syndicate. Specifically, focusing on three types of diversity within a VC syndicate, which are aligned with Harrison Klein¡¯s seminal categorization in 2007 (i.e., separation, variety, disparity), this study suggests their distinct effects on performance. Two stage least square analyses with 1,127 VC syndicate investments made by 6,268 VC firms strongly supported the hypotheses. The results showed that that capacity diversity decreases the performance that expertise diversity network diversity increase it.
÷ºÎÆÄÀÏ : 21-1-04 ½Å»óÀ±(43-59)_1.pdf